Keyman is the key member or staff of the organisation who is a major contributor to its growth and the profit and whose absence may affect the continuity of the business.
A Keyman insurance policy is taken to protect the organisation against the reduction in profit resulting from the death of the Keyman. As per IRDA circular only Pure Term Assurance Products may be used as a Keyman Insurance. We offer “SBI Life – Shield” as a Keyman Insurance Policy.
|Product features available of “SBI Life – Shield” used as Keyman:|
|Minimum / Maximum Age at Entry : 18 Years to 60 Years|
|Term : 5 Years to 25 Years or Retirement age, whichever is earlier|
|Choice of Increasing Sum Assured @ 5% p.a. or Level Cover|
|No Riders available.|
|Mode of Payment : Single Premium or Regular Premium (no monthly mode available)|
|Minimum (Per Life Assured): |
SBI Life – Shield Plan: Rs. 10, 00,000/- (in multiples of Rs. 10,000)
|Maximum Sum Assured (Per Corporate): |
The quantum of cover would be based on the following parameters, underwriting requirements and subject to the maximum Sum Assured permitted in the respective plan chosen
The maximum Sum Assured should be LOWER of :
A multiple of the individual remuneration/compensation package that the Keyman receive may also be considered.
Download SBI Life – Shield – used as Keyman brochure here.