SBI Life Insurance India

State Bank of India is one of the largest banking dealership in India, including its seven associate banks. Network of over 14,500 branches across the country, SBI Life offers a slew of products designed for each and everyone of the society.

Following is the list of products with details:-

Pension:

1. Keeps your income stable in post-work life.
2. Helps policy holder to remain financially independent post-retirement.
3. Tool for systematic retirement planning.

Children Plan:

1. An Asset to plan for children’s needs in the future.
2. An Asset to ensure children’s future plans are not compromised in parental absence.

ULIP Insurance:

1. Investment option added.
2. Option to choose from funds such as equity, debt, bonds, or a combination.
3. Offer partial withdrawals options.

Money Back Insurance:

1. Life covers for specified periods.
2. Policy holder gets tax-free, fixed proportions of the sum assured at regular intervals.
3. Policy holder receives lump sum payment on surviving maturity date.

Term Insurance:

1. Pure risk cover plan with no survival benefit.
2. Cheapest of all life insurance product.

Endowment Insurance:

1. Tool with savings option
2. Sum assured plus bonus accrued paid in the event of death of the insured or at maturity
3. With-profits plan that participates in the profits of insurer’s life insurance business