To commemorate the International Women’s Day, SBI Life Insurance has launched ‘SBI Life – Smart Women Advantage’ plan that provides for life cover, savings and female-specific critical illness benefits. It’s a participating individual traditional endowment plan with health concept built into one plan, and also provides optional benefits of additional pregnancy complication, congenital anomalies and child birth related abnormalities, as also other illnesses, SBI Life said in a release.
The plan carries tax benefits under section 80D and 80C of the Income Tax Act for premiums paid towards health benefits and life cover respectively under the policy. SBI Life said the plan also has an in-built premium waiver benefit which would waive all the future premiums in case the life assured is diagnosed with any of the covered major stage critical illnesses. The plan comes with two basic options, Gold Plan and Platinum Plan.
Did You Know?
- After independence, Reserve Bank of India acquired the Imperial Bank of India under the parliamentary Act, State Bank of India Act 1955. And so the Imperial bank of India was renamed as State Bank of India on 30th April 1955.
- In 1959, SBI passed the Subsidiary Banks Act and grew bigger with eight subordinate banks. These banks were termed as Associate Banks of SBI including State Bank of Bikaner, State Bank of Jaipur, State Bank of Hyderabad, State Bank of Indore, State Bank of Patiala, State Bank of Mysore, State Bank of Saurashtra andState Bank of Travancore.
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