For a Money-Back Policy of 25 years (Table 93), 15% of the sum assured becomes payable each after 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the 25th year.
The accumulated survival benefit could be used for cash withdrawals or premium offsets.
An important feature of this type of policies is that in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured.
The plan has a number of moneyback options specially suited to your needs.
You are looking for guaranteed additions to your money along with a lump sum on maturity.
This plan offers you optimal life insurance cover at low costs, thus ensuring your family’s financial security in case something unfortunate happens to you.
Bonus declared every year after the 3rd policy year.
Check complete details of SBI Life insurance new Smart Money Back insurance plan.
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