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Top 5 SBI Life Insurance Plans – Benefits and Reviews

The best investment one can make is investing in the insurance plan. This is a type of investment that will help your family members to get financial assistance when he/she are not with them. Therefore, opting for a life insurance plan is the best choice and the best plans are being offered by SBI Life Insurance Company right now. Every individual plan of SBI is working well and providing the optimum benefits to the policyholder. Now, we will discuss the top 5 investment plans of SBI below.

Best SBI Life Insurance Plans

SBI PLAN NAMETYPE of PLANENTRY AGE FOR PLANMATURITY AGE (MAX.)TERM OF POLICY
eShield –SBI Top Insurance PlanTerm Plan Online18-60/65 Years70 Years5/10-30 Years
Smart Money Planner SBI PlanTraditional Participating Money Back Endowment Plan18-50/55/60 Years75 Years15/20/25 Years
Smart Humsafar SBI Life Insurance PlanTraditional Joint Life Insurance Plan of SBI18-46 Years65 Years10-30 Years
CSC Saral Sanchay SBI PlanTraditional Non- Participating Endowment Plan of SBI18-50/60 Years70 Years10/15 Years
Smart Power Life InsuranceNon-Participating Unit Linked Insurance Plan Of SBI18-45 Years65 Years10/15-30 Years

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eShield –SBI Top Insurance Plan

This is a type of plan which is offered to an individual, non-linked, and benefits of the plan could be availed through online mode.

Benefits of opting This Plan

  • An individual will get a level cover benefit and the increasing cover benefit under this plan.
  • The benefits will be given to individuals who are living a healthy lifestyle.
  • Riders:
    – The nominee could avail of the benefit in case of accidental death.
    – Total or permanent disability due to accident benefits also added.

The basic sum assured which can be provided to the nominee is Rs. 20,000.

Smart Money Planner SBI Insurance Plan

This is a type of plan which is offered to an individual and the plan is non-linked. Along with this, the plan is offering Endowment profit as a special benefit.

Benefits of Opting This Plan:

  • The sum assured will be provided to the nominee in installments throughout the payment period.
  • The installment is provided in the payment period will act as a regular income.
  • There are four options for which an individual can opt according to their financial background.
  • Limited premium payment and Single Premium Payment options are available for an individual to choose from.
  • The basic sum assured provided under this plan is 1 lakh (Min.).

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CSC Saral Sanchay SBI Plan

The plan is offered to an individual, non-linked also non-participating. The plan is a variable type of insurance plan.

Benefits of Opting This Plan:

  • After reaching the 6th policy year one could make a partial withdrawal from the policy.
  • For the entire period when the policy is in the active mode the minimum floor rate is 1%.
  • One can fill the application form through offline mode with the help of their Aadhaar Number.
  • The interest could be added as an additional benefit.

SBI Smart Power Life Insurance

This is a non-participating and unit-linked type of SBI insurance plan.

Benefits of Opting This Plan

  • There are two fund options under this plan first Smart fund and the second one is trigger fund.
  • Also, there are two options for the covers that are increasing cover options and the level cover option from which one can choose.
  • One will be able to get permanent disability benefits under this plan.
  • Once the 6th policy year is completed one will be able to get a partial withdrawal if they want to get it.
  • The interest rate under this plan is 1.00 % per annum which is quite good.
  • One can save money through this plan and can plan for a better future.
  • This plan will help an individual to support their family in the best possible way.

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Smart Humsafar SBI Life Insurance Plan

This is a joint-life SBI Plan with participating and non-linking.

Benefits of Opting This Plan:

  • As the name suggests it is a joint plan therefore under this plan one application would be applicable to give life insurance benefit to both the person.
  • The benefit of Premium Waiver is available along with this policy.
  • Rider: The coverage will be provided in case of an accidental case of an insured person.
  • The bonuses will be provided for in-force insurance policies.
  • The basic sum assured under the plan is Rs. 1 lakh.
  • Hence, one can go for this plan.

Facts of SBI Life Insurance Plans

  • SBI Life Insurance Company has a very good claim settlement of approximately 96.76% according to the F.Y 2017-18.
  • It was the best life Insurance Company Of The Year in 2016 and for which they had been awarded.
  • The insurance Advisors are approximately 80,000 which are sitting in different agency channels.
  • The distribution channel of SBI is very vast that is retail Agencies, institutional alliances and many more are providing the facilities of the plan.

Therefore, all the above-mentioned fact all together makes the SBI best Insurance Company.

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Benefits of SBI Life Insurance

  • The different insurance plan of SBI Life Insurance will help an individual to protect their family.
  • There is good flexibility for paying the premiums and getting the payouts.
  • The special feature of the SBI insurance plan is its online plans which can be availed at lower costs.
  • Under the act of section 80c and section 10 (10d) of the income tax, 1961 special tax benefits could be claimed.

Concluding

Hence, the above mentioned is the best 5 SBI Insurance Plan from which one can choose. When it comes to the protection of the family, every individual wants to do the best possible thing. One can purchase these plans through offline and online mode both very easily.

Therefore, to secure the future of your family or to give a better life to them the SBI Life Insurance is the best choice.

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