SBI Life Swadhan

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SBI Life Swadhan Plan


SBI Life Swadhan is the only Term Plan of SBI Life with Return of Premium on maturity. Thus if the Life Insured dies within the policy term, the nominee would receive the Sum Assured. If the life insured lives through the policy tenure, then he would receive his entire premium back on maturity of the policy.


Key Features of SBI Life Swadhan Plan

 

§  Simple term plan with return of premium on maturity.

§  The policy guarantees surrender value after complete payment for 36 months.

§  There is an additional rebate for women policyholders.

Have any doubts that need to be clarified? Request a Call Back

 

Benefits you get from SBI Life Swadhan Plan

 

Death Benefit – In case of death of the policy holder, the nominee gets the entire sum assured in lumpsum.

 

Maturity Benefit – On maturity, the premiums are returned to the policyholder if he survives the entire tenure.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

 

Eligibility conditions and other restrictions in SBI Life Swadhan Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

3,00,000

1 crore

Policy Term (in years)

5

10

Premium Payment Term (in years)

Equal to policy term

Equal to policy term

Entry Age of Policyholder

18

65

Age at Maturity

-

70

Single premium

NA

NA

Payment modes

Yearly, Half-yearly and Quarterly

 

 

Sample illustration of premium amount in SBI Life Swadhan Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 10 years

SBI Life Swadhan Term Plan Sample Premium rates

 

 

Additional Features and Benefits of SBI Life Swadhan Plan

 

Riders – There are no riders in this policy.

 

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, then the policy would lapse after the grace period ends. If the first 3 years’ premiums have been paid, then the policy will go in paid up value which is a reduced value in proportion to the number of premiums paid vis-à-vis the total number of premiums.

 

You want to surrender the policy – There is a guaranteed surrender benefit after the first 36 months’ premiums have been paid.

60 – 65% of basic Premium Paid less 1st year premium is guaranteed as Surrender Value, depending on the tenure of the policy.

 

You want a loan against your policy – Loan facility is not available under this policy.

 

 

Alternate Return of Premium Term Plans from different insurance companies

 

1.     Bajaj Allianz Term Care

2.     Tata AIG Life Plus Plan

3.     Reliance Special Term Plan

 

 

Other term insurance plans from SBI Life

 

1.     SBI Life Saral Shield

2.     SBI Life Smart Shield

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the SBI Life Swadhan brochure and insurance company's website. It should not be construed as a Critical or Favourable SBI Life Swadhan Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


Leave a Comment

Pls. give me a Bond of Policy

By Bijaya Bhusan Rath on Jan 07, 2014 Reply

Dear Bijaya, you will have to contact the insurance company directly for the same.

You can write to them at info@sbilife.co.in

Replied By Admin (MIC Staff) on Jan 09, 2014 Reply

Thanx sir .. and same to you.

By Ramesh Singh Chauhan on Jan 04, 2014 Reply

Sir, I have my policy no.86000054808. I have paid premium for 3 years but due change my bank account no,I could not paid my premium regularly.But Now I want to deposit my all premium.You are kind requested to intimate the premium amount I have to deposit and can I paid premium online ? pl inform me to my e-mail ID chauhanrameshxxxxx@gmail.com

By Ramesh Singh Chauhan on Jan 04, 2014 Reply

Dear Ramesh, if you have missed premiums you will have to revive the policy to make it active again. Now this involves paying off all the pending premiums and maybe some interest also. For this, you will have to visit the local SBI life office or contact their team on how to take this forward. You can make the payment online, but you would need to know the exact amount that would need to be paid.

Please contact the agent who sold you this plan or visit their local branch office.

Replied By Deepak Yohannan (MIC Staff) on Jan 09, 2014 Reply

i am working privat company my salary 10000/p.m.rs.so plz send me accordingly plan

By Santosh Gujja on Mar 18, 2013 Reply

Dear Santosh, you should ideally go in for a term insurance plan first and the move to other savings instruments. Check the details of term insurance here http://www.myinsuranceclub.com/life-insurance/term-insurance

Replied By Admin (MIC Staff) on Mar 19, 2013 Reply

I am working in Private company and my salary is Rs.12000/-P.M. . Which is the best policy to secure myself. Please guide me.

Thanks

By Sampurna Nand Jha on Jul 07, 2012 Reply

my policy details s.no.sw/63205
M.Policy no. 86000054602 dt.01.11.2007
M.P.Holder: SBBJ
We want details for deposit instalments in a/c.

By Satish Kumar Paliwal on May 12, 2012 Reply

S B I Life is verygood Life Insurance Policy which insured the life of a policy holder

By Dhruba Charan Jena on Apr 28, 2012 Reply

information regarding my earlier question; my age is 18. term plan insurance period is 10 years. kindly inform me the annual premium to be paid. my contact no is 9688293474

By P.Manojkumar on Dec 18, 2011 Reply

please inform me what will be the premium to be paid on yearly basis for a sum insured is 1 crore in term plan insurance from sbi life swadhan. with regards.

By P.Manojkumar on Dec 18, 2011 Reply

WHAT WILL BE THE RETURN AFTER 8 YEARS (INTEREST RATE) IF THE POLICY RUNS TILL THE END OF 8 YEARS AND SUM INSURED OF RS. 1000000

By Reji Thomas on Oct 08, 2011 Reply

I M WORKING IN PRIVATE COMPANY AND SLARY 10000 I WANT TO SECURE MY LIFE AND GET MATUIRITY BENIFIT AFTER 10 YEAR PLZ TEL ME WHICH INSURANCE/PLAN IS BENIFIT

By Md Rafique on Aug 14, 2011 Reply

thanks for to tell yuor plans with me

By Shreejanwee on Jul 29, 2011 Reply

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