SBI Life Shubh Nivesh is an Endowment product with an option of Whole Life coverage. The basic purpose is to provide Savings, Income and Protection to you and your family. Not only you can save regularly for your future but you also have the flexibility to receive the maturity amount as a lump sum or as a regular income for a chosen period, depending upon your needs.
|A unique Savings cum Protection Plan with the flexibility of Whole Life option as an add-on|
|Triple benefits of Wealth Creation, Regular Income and Protection under a single plan|
|Convenience of premium payment options – Single Premium and Regular Premium|
|Comprehensive risk coverage through 3 Riders:|
|Preferred Term Rider|
|Accidental Death Benefit Rider|
|Accidental Total & Permanent Disability Rider|
|Option to receive the Basic Sum Assured at regular interval over a stipulated time period of 5/10/15/20 years.|
|Tax benefits as per prevailing norms under the Income Tax Act, 1961|
|It is a traditional Endowment plan (i.e. a saving cum protection product) with an option of Whole Life cover|
|How does it work?|
|SBI Life – Shubh Nivesh has two options:Endowment Assurance: The base plan is a traditional endowment plan with simple reversionary bonuses which accrue till the end of the endowment term. The sum assured with all accrued bonuses will be paid on death during the endowment term or survival till the end of the endowment term.|
Whole Life Endowment: The policyholder has to opt for the Whole Life Endowment option at the proposal stage itself, wherein the sum assured along with the accrued bonus till the end of the endowment term will be paid to the policyholder, and an amount equal to the basic sum assured will be paid on the life assured attaining 100 years of age or on the death of the life assured, if earlier.
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