SBI Best Investment Plans

Can you tell me in detail about the benefits of the SBI Life - Saral Maha Anand Investment Plan as offered by SBI (State Bank of India) as I am planning to invest in it?

SBI Life - Saral Maha Anand Investment Plan as offered by SBI (State Bank of India) is a product created to manage investments according to risk appetite, giving the power to realize market related returns on policy. One can choose required life insurance cover subject to a minimum and a maximum level.

Key Features:

No medical exam, simple joining process

Guaranteed additions of up to 30% of one annual premium, for a 20 year policy term, subject to the Policy being in force till the maturity date

3 fund options, to enjoy market related returns as per your risk appetite.

No premium allocation charge from 11th year onwards, thereby boosting fund value

Liquidity through limited withdrawals

Option to customize the plan through SBI Life - Accidental Death Benefit Linked Rider (UIN: 111A019V02)

Twin benefit of market linked returns & insurance cover


Benefits:

Maturity Benefit: On completion of policy term, fund value will be paid.

Death Benefit: Higher of the fund value or sum assured is payable; with a minimum of 105% of total basic premiums paid till the time of death

Rider Benefits:
SBI Life - Accidental Death Benefit Linked Rider: Provides additional death benefit, if the death occurs as a result of an accident.

Tax Benefits
Tax deduction under Section 80 C is available. However if premium paid during the financial year, exceeds 10% of the sum assured, the benefit is limited up to 10% of the sum assured.

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Answered By StudyChaCha Member