 Introduction :SBI Life Insurance Swadhan Plan is an affordable traditional term Insurance policy with refund of part / Total basic premium paid at the end of the term to the policyholder.As a Maturity benefit, you receive a repayment of your premium contribution towards the policy. Available at a low premium, it can provide security to your loved ones. |
Key Features:
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| • | Protection at affordable premium. |
| • | Guaranteed refund of basic premium paid on Survival at the end of the term, depending upon the term of the policy. |
| • | Life cover comes to you at no cost** |
| • | Tax benefit u/s 80 C and 10 (10 D) of IT Act |
| • | 5% rebate for Female lives |
| • | Rebate on High Sum Assured |
| • | Flexible benefit premium paying mode |
| • | Free look period of 15 days |
| ** Conditions Apply |
| Product Snapshot: |
| Term | | Minimum Policy Term | 5 years | | Maximum Policy Term | 10 years | | Premium | | Premium Mode | Quarterly / Half yearly / Yearly | | Age | | Minimum Entry Age | 18 years | | Maximum Entry Age | 65 years | | Maximum Cover Age | 70 years | | Sum Assured | | Minimum Sum Assured | Rs 3 Lakhs | | Maximum Sum Assured | Rs 1 Crore |
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How does it work? |
| • | You can take a cover ranging from 5-10 years. In the unfortunate event of death, the nominee would receive the entire sum assured as a lump sum payment. |
| • | If you survive the entire term, you would be eligible to a refund of premiums depending upon the term of policy. For example, if your policy is for 5 years, you’d be eligible for refund of 50% of the total premiums paid; for 6 years, the refund would be 60%, and so on. Hence, if you’ve taken a policy for 10 years, you’d receive 100% of your premiums back as refund. |
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Benefits : |
| • | Maturity Benefit: If you survive for the entire term of the plan, you would be eligible to a refund of the premiums depending upon the term of the policy. |
| Term | Percentage of Basic Premium refunded | | 5 years | 50% | | 6 years | 60% | | 7 years | 70% | | 8 years | 80% | | 9 years | 90% | | 10 years | 100% |
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| • | Death Benefit: In the event of claim, your nominee would receive full Sum Assured. |
| • | Riders Available: No Riders are available. |
| • | Tax Benefits | | • | Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. | | • | Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. | | • | Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.. |
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| For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. |