SBI Life Launches ‘SBI Life-Smart Bachat’ Plan

By 121 News

Chandigarh 24^th January:- SBI Life Insurance, one of the most trusted private life insurers in the country, today announced the launch of SBI Life - Smart Bachat, a traditional, participating, limited premium payment term, endowment plan designed to keep the obligation of paying premium over a long term at bay. The plan aims to safeguard the future of one's family while enabling one to invest for financial goals. This is highlighted through SBI Life's latest TVC campaign on SBI Life–Smart Bachat–Kuch apno ke liye, kuch apne liye. This campaign brings alive the plan's essence of providing protection for the family and wealth creation for self in a manner that resonates well with today's culture.

Speaking at the launch of the product, Arijit Basu, MD & CEO, SBI Life, said that Indians have ingrained value of saving for uncertain times. For such individuals, SBI Life-Smart Bachat is a great option as it provides not only life insurance but also savings and wealth creation at the same time.

Anand Pejawar, Executive Director, SBI Life Insurance said that SBI Life Smart, Bachat gives flexibility to the customers to choose the term for which they wish to pay the premium. This endowment plan not only safeguards your family from any uncertain eventuality but also helps you save for your future.

SBI Life - Smart Bachat plan offers two options, Endowment option and Endowment option with in-built AD&TPD Benefit.  Under the second option, future premium will be waived off in case of an unfortunate event of Accidental Total & Permanent Disability. This plan gives you the freedom to choose premium payment term of 5,7,10 or 15 years based on your convenience and policy term of 10 to 25 years based on your insurance needs. On maturity, Basic Sum Assured plusVested Simple Reversionary Bonuses and Terminal Bonus, if any, will be payable. In case of death, higher of Basic Sum Assured or 10 times Annualised Premium, along with Vested Simple Reversionary Bonuses and Terminal Bonus, if any, will be payable subject to a minimum death benefit of 105% of all premiums paid.