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SBI Life Smart Platina Assure Plan: Eligibility & Benefits

The future is unpredictable. Have you ever stressed that one day your dependents would have to survive without you? Hence, if you are covered under the SBI Life Smart Platina Assure plan, then it will provide financial security to your family in case an unanticipated event occurs such as the demise during the policy term. SBI Life Smart Platina Assure Plan offers a comprehensive solution for financial security and stability.

SBI Life Smart Platina Assure

SBI Life Smart Platina Assure Plan is a non-linked and non-participating life insurance plan. With this plan, you can enjoy life-cover benefits along with assured returns at the end of each policy year. Besides maturity and guaranteed benefits, this plan offers you the flexibility of paying a premium for a limited period.

Features of SBI Life Smart Platina Assure Plan

The following are the Key features of the SBI Life Smart Platina Assure plan:

  • Life covers along with assured returns.
  • Provides maturity benefits along with guaranteed returns at the end of the policy term
  • Guaranteed additions of 5.25% or 5.75% provided at the end of each policy year
  • The flexibility of paying a premium for up to 6/7 years and availing policy benefits up to 12/15 years
  • Get tax benefits
  • Flexibility to choose monthly or yearly premium payment.

Benefits of SBI Life Smart Platina Assure Plan

Below are some benefits that you avail yourself from the SBI Life Smart Platina Assure plan:

  • Financial Security:
    • SBI Life Platina Assure plan provides life cover and financial security to the family of the life assured in case an unpredicted event takes place such as the sudden demise of the life assured during the policy tenure.
    • This plan provides a death benefit in such cases, the death benefit can act as a financial shield for the family of the life assured during difficult times.
    • With the help of death benefits received from this plan, the family of the life assured can fulfil their immediate financial needs, and future financial needs and pursue their dreams even in the absence of the life assured.
  • Maturity Benefit:
    • Under the SBI Platina assure plan maturity benefit is provided to the life assured in case he/she survives the entire policy term.
    • The maturity benefit is provided along with the guaranteed returns at the end of the policy term. The maturity benefit can help the life assured achieve his/her financial goals at the time.
  • Guaranteed Additions:
    • This plan provides guaranteed additions, which are declared at the end of each policy term at an interest rate of 5.25% or 5.75%. These guaranteed additions shall be provided along with the maturity benefit or death benefit payout. This plan allows wealth appreciation.
    • With the help of guaranteed additional benefits under this plan, the life assured can grow a corpus for a financially secured future for them and their family.

Eligibility Criteria of SBI Life Smart Platina Assure Plan

The SBI Life Smart Platina Assure Plan Eligibility criteria details are:

SBI Life Smart Platina Assure Eligibility

Parameters

Eligibility

Minimum Entry Age

3 Years

Maximum Entry Age

60 Years

Maximum Maturity Age

75 Years

Policy Term

12/15 Years

Premium Payment Term

6 Years (12 Years Policy Term)

7 Years (15 Years Policy Term)

Minimum Sum Assured

INR 2,40,000

Maximum Sum Assured

No Limit

Premium Payment Mode

Monthly/Yearly

Note: To calculate the premium of the SBI Platina Assure life insurance policy, use the SBI smart Platina Assure maturity calculator which will give personalised results instantly.

Conclusion

With guaranteed returns, flexible premium payment options, and tax advantages, this non-linked and non-participating life insurance plan ensures your family's well-being in unforeseen circumstances.

The plan's death benefit acts as a shield, providing immediate and future financial support to your loved ones. Additionally, the maturity benefit and guaranteed add-ons further contribute to building a secure financial future.

With SBI's strong reputation and a high claim settlement ratio, choosing the Smart Platina Assure Plan is a prudent step towards safeguarding your family's financial interests.

FAQs

1. Ques. What is the SBI Life Smart Platina Assure Plan? 

Ans. SBI Life Smart Platina Assure Plan offers life coverage, guaranteed returns, and financial security in case of demise during the policy term. Flexible premium payment, tax benefits, and maturity benefits contribute to a balanced insurance and savings solution, ensuring your family's future stability.

2. Ques. How do I benefit from the plan's guaranteed returns? 

Ans. With the SBI Life Smart Platina Assure Plan, you can enjoy guaranteed returns and maturity benefits at the end of each policy year. You'll receive guaranteed increments of 5.25% or 5.75% annually, adding to the accumulated corpus and contributing to your financial security over time.

3. Ques. Can I customise my premium payment schedule? 

Ans. Yes, this plan offers flexibility in premium payments. You can choose to pay premiums for a limited time period of either 6 or 7 years while still reaping the benefits for up to 12 or 15 years, respectively.

4. Ques. What are the eligibility criteria for this plan? 

Ans. To be eligible for the SBI Life Smart Platina Assure Plan, you need to be between 3 and 60 years old at the time of entry. The policy term options are 12 or 15 years, and the premium payment term options are 6 or 7 years, depending on the policy term chosen. The minimum sum assured is INR 2,40,000, and there's no maximum limit.

5. Ques. How does the plan provide financial security to my family? 

Ans. In the unfortunate event of your demise during the policy term, the plan offers a death benefit that serves as a financial shield for your family. This benefit helps them meet immediate financial needs and pursue future goals even without your presence.

6. Ques. What happens if I survive the policy term? 

Ans. If you survive the policy term, you are eligible for the maturity benefit. You will receive the guaranteed return at the end of the policy period, which can provide you with a lump sum amount to secure your financial future.

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Disclaimer: This article is issued in the general public interest and is meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

 

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