Types of SBI Life Insurance

SBI Life Insurance renders large number of products designed specially for its customers. The products admits money back products, pension products, protection cum savings products, and unit linked products. All these products provides various requirement of its end users.

Endowment Insurance:

• Protection asset with savings option.
• Sum assured alongwith aggregate bonus paid in term of death of the insured or at maturity.
• With-profits plan that adds more profits of insurer’s life insurance business.

Children Plan:

• An asset to plan children’s needs in the future – education, wedding etc.
• A resource to see that children’s future plans are not compromised in case of unfortunate death of parent’s.

Money Back Insurance:

• Renders life cover for specified periods.
• Policy holder benefits tax-free, fixed proportions of the sum assured at regular intervals or an option to re-invest.
• Policy holder gets huge amount of sum assured on surviving maturity date.

Pension:

• Helps maintain stable income in post-work life.
• Ensures that policy holder remains financially independent on post-retirement.
• Helps giving systematic retirement planning.

Term Insurance:

• Pure risk cover plan less survival benefit.
• Life security mean against the uncertainties of life.
• Cheapest life insurance product.

ULIP Insurance:

• Protection asset with added option of investment plan.
• Policy holder can choose from funds such as equity, debt, bonds, or a combination.
• Insurers offer partial withdrawals options.