Investors who are atleast 18 years of age and at most 60 years, can avail the plan
SBI Life Insurance has come up with SBI Life – Shubh Nivesh (SBI Life SN), a traditional savings plan with an option of whole life cover to cater the savings, protection and income needs of customers having risk-averse profile – reported Business Standard.
Reportedly, the plan is available in Endowment Assurance (EA) and Whole Life Endowment (WLE) options. Investors who are atleast 18 years of age and at most 60 years, can avail the plan. The maximum life coverage is 65 years. It can be increased up to 100 years by choosing for a whole life add on rider. The plan comes with single and regular premium options, with the sum assured starting from INR75,000 with no maximum limit.
MN Rao, MD and CEO of SBI Life Insurance, said: “Strengthening our product suite, the introduction of Shubh Nivesh is a step towards presenting customers a range of solutions which enables them to choose one that best suits their risk profile and financial needs,” reported the newspaper.