SBI Life Insurance has launched a new product named ‘Smart Humsafar’, which offers multiple benefits of savings and insurance cover for husband and wife under a single policy. In case of death of one of the spouses, a payment of sum assured is made to the surviving spouse, in addition to the waiver of future premiums. In the event of the death of surviving spouse during the remainder of the policy term, the nominee gets the sum assured plus all the accrued bonuses. The basic sum assured with all accrued bonuses will be paid upon the survival of any or both lives on maturity.
Having a life insurance plan is incredibly beneficial for those who want to leave something to their family or their other half in the event of their death or due to a medical issue, so finding the best policy that suits their needs is essential. To do this effectively, research is a key factor with various plans, whether they go for a colonial penn 995 plan or a family-based plan that incorporates all in the home into the policy so that there is complete cover when needed most. Read on below to see what SBI’s new insurance product can offer to those who are interested.
- Guaranteed minimum bonus for first 3 years @ 2.50 percent of the Basic Sum Assured.
- Provides financial protection in the event of death of either or both the lives assured.
- Pays a maturity amount on survival of one or both the lives assured at the end of the policy term.
- Benefits also include premium waiver in case of death of any one of the lives assured for in force policies.
- Additional rider benefit at an affordable cost
- Tax benefits as per prevailing norms under the Income Tax Act, 1961.
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