Money Back Products
These are traditional saving plans with additional advantage of life cover and guaranteed cash inflow at regular intervals. Key features of moneyback plan are periodic return options suited to your needs, and competitive premium rates. Apart from normal death cover, the plan also provides four additional covers. Sanjeevan Supreme is designed for individuals who want to plan for various financial obligations at specified times in life.
Pension products have been designed keeping in mind the needs of retired individuals. Four products currently offered under this segment are Horizon II Pension, Unit Plus Pension, Lifelong Pensions and Immediate Annuity. Under these plans, one can choose retirement date, the plan option and the regular premium amount.
Protection cum Savings Products
These products are designed to provide savings and protection at the same time. These products offer the option of tailoring your policy according to your requirement and needs, by opting for riders (extra covers).
The portfolio is linked to the volatile market, and fluctuates with it. The investment risk in portfolio is borne by the policyholder. For first seven years, guarantee is offered on select NAVs. Guaranteed Maturity NAV, continues after the premium payment term. It is an investment based on market economy and offer high returns. The plan gives one maximum opportunity for growth while protecting investments against adverse market conditions. Attractive Tax benefits can be availed under the Income Tax Act, 1961.
Under this plan, you can invest in a wide variety of funds and manage them as per your convenience. Gold and platinum protection covers are available. You have to pray premium only for a limited term of 3, 5, 7 or 10 years. You can also protect yourselves against accident and critical illness with the rider cover. You can also add-on to your kitty through top-up premiums facility. When the policy ends, Fund Value as on the Maturidy Date is paid. Settlement option is also available.
Group Criti 9
This is a non-participating Group Health Plan providing protection against nine critical illnesses where assured sum is paid in lump sum on diagnosis of any one of covered critical illnesses. It has guaranteed renewability till 65 years of age. Critical illnesses covered are Cancer, Heart Attack (Myocardial Infraction), Stroke, Coronary Artery Bypass Surgery, Kidney Failure (End Stage Renal Disease), Major Organ Transplant, Coma, Multiple Sclerosis and Heart Valve Surgery. The plan is offered to various groups like employee-employer relationship, credit life groups, customers of bank / financial institutions, depositors groups etc.
Unit Plus Child
As a parent you want to secure your child’s future against rising cost of education and other necessities. Unit Plus Child Plan could be your solution. Kea features of the plan are market related returns to match increasing cost of education, loyalty units to celebrate your child reaching 18 years. new Investment Fund (Equity Optimiser Fund) in addition to existing funds, pay premium for a limited period, and flexible plan which adapts to your changing needs.
SBI Life Horizon offers the flexibility of Unit Linked Plan along with Automatic Asset Allocation. Key features of the plan include twin benefit of insurance cover and market linked returns, expert management of funds from inception to maturity, automatic asset allocation of funds, automatic rebalancing of funds at yearly intervals, automatic cover continuance, liquidity option after 3 years, facility to top up your investment kitty, and tax benefit.