SBI Life Launches ‘SBI Life - Smart Bachat’ Plan
Bengaluru, January 24th , 2017: 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.
Speakingat the launch of the product, Mr. Arijit Basu, MD & CEO, SBI Life, said, “Indians haveingrained 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 alsosavings and wealth creation at the same time.”
“SBILife Smart - Bachat gives flexibility to the customers to choose the term forwhich they wish to pay the premium. This endowment plan not only safeguardsyour family from any uncertain eventuality but also helps you save for yourfuture”, said Mr. Sanjeev Pujari, Executive Director, SBI LifeInsurance.
SBILife -Smart Bachat plan offers two options, Endowment option andEndowment option with in-built AD&TPD Benefit. Under the secondoption, future premium will be waived off in case of an unfortunate event ofAccidental Total & Permanent Disability. This plan gives you the freedom tochoose premium payment term of 5,7,10 or 15 years based on your convenience andpolicy term of 10 to 25 years based on your insurance needs. On maturity, BasicSum Assured plus Vested Simple Reversionary Bonuses andTerminal Bonus, if any, will be payable. In case of death, higher of Basic SumAssured or 10 times Annualised Premium, along with Vested Simple ReversionaryBonuses and Terminal Bonus, if any, will be payable subject to a minimum deathbenefit of 105% of all premiums paid.