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SBI Shubh Nivesh Best Term Insurance Plan

Author: Anumeha Singh
by Anumeha Singh
Posted: Aug 12, 2016

SBI Life term plans are the best that provide financial coverage and give additional benefits like tax savings. To serve long term coverage and maintain the benefits throughout the insurance plan term SBI Life insurance ensures that every insured person gets to choose between range of cover options. Apart from that SBI Life helps its insurance holders with engagement, conversation and policy tracking.

SBI life is one of the most trusted and brand when it comes to life insurance. SBI Life Insurance Co. is amongst the fast-growing life insurance companies in the private sector and a conglomerate of State Bank of India and Banque Nationale de Paris Paribas Cardif.

SBI life introduces a new term insurance plan which is specially tailored to meet the financials needs of the future individuals which is SBI Life Shubh Nivesh. The kick of this SBI Life term insurance plan is that it fulfills every needs of an individual to take care of his loved ones and his focus on the financial stability of his family. ¾ of the Indian market of buyers, sellers and users has shifted online to buy sell or compare their products.

The SBI Life Shubh Nivesh has multi directional model for distribution to acquire a wider client base and cater customer solutions. The SBI Life distribution channels are the corporate partnerships, retail agents, Bancassurance to meet customer needs. It can use more than 100 million records over each district and monetary stratum in the nation having a place with SBI, guaranteeing genuine money related consideration. The organization uses the unparalleled system for cross-selling the insurance products. The SBI Life Insurance channel is similarly dynamic with more than 80,000 counselors for life coverage offering its variety of protection products going door to door for client service.

Eligibility Criteria

Product Name

Entry Age

Maturity Age

Premium Payment

Sum Assured

Policy Term

SBI Life Shubh Nivesh

18/58 years (Regular)

18/60 years (Single)

18/50 years (Whole Life)

65 years

(Endowment Plan)

100 years (Endowment with Whole Life)

Monthly/ Quarterly/ Half-Yearly/ Yearly

Rs 75,000 (Minimum) / No Limit on Maximum Amount

7 years (Regular)

5 years (Single)

15 years (Endowment with Whole Life)

SBI Shubh Nivesh is a conventional form of non-participating endowment plan that gives various benefits under single cover to give your family members a secured life to maintain the same lifestyle as before. Some of the benefits of SBI Shubh Nivesh are briefly discussed below:

  • Accumulated Bonus: The guaranteed sum assured of the SBI Life Shubh Nivesh plan under its Endowment Option where the sum assured along with accumulated bonus is paid on maturity or the event of the demise of the insured.
  • Maturity Benefits: The actual maturity under the Whole life Endowment Option this plan is paid on maturity of the plan term.
  • Death Benefits: The term can extend to Whole life term where the guaranteed sum is paid in the event of death as death maturity.
  • Discounted Payout: The payout which is remaining is advanced to the beneficiary at a discounted rate, in a case of the demise of the insured.
  • Tax Benefits: Under Section 80C and claims received Under Section 10(10D) of Income Tax Act; policyholders receive tax benefits on premiums on the SBI Life Shubh Nivesh Plan.
  • Credit Option: SBI Shubh Nivesh allows the insurance holders to take credits against the a surrender value in a situation of crisis and the situation where one needs funds to meet living expenses. The rates on loans are declared by the company on timely.

What are the basic Features of SBI Shubh Nivesh?

  • Dividend: SBI Shubh Nivesh Plan Has Dividend paying option of single or regular payment options of premium.
  • 3 Scope Options: SBI Life Shubh Nivesh has three scope options of Endowment choice, Deferred Maturity Payment choice, Whole Life Endowment plan. The third choice structures a part of the prior two SBI Shubh Nivesh alternatives.
  • 3 Cover options: SBI life Shubh Nivesh has three coverage options of Whole Life Endowment plan, Endowment plan and Deferred Maturity Payment option where the maturity payment option is a portion of other two options SBI Shubh Nivesh.
  • Endowment with Whole Life Option:

SBI Life Shubh Nivesh Endowment with Whole Life Option gives the option to extend the coverage for whole life given that one chooses a term plan of 15 years or more than that. Also, under this term insurance plan the insurance holder is entitled an amount equal to the basic assured sum on early demise during the term period or life of the insured till 100 years.

  • Endowment Option:

SBI Shubh Nivesh primary plan is a customary endowment plan which provides simple terms benefits from SBI. The total guaranteed and the benefits are paid to the policyholder on his/her survival toward the closing of the term plan or to the beneficiary of the policyholders in the event of his demise.

SBI Life a smart insurance platform that helps to bridge the gap between financial security and the financial dependents of the insured person. Choose your insurance plan with SBI and make life easy.
About the Author

Hi, i am Anumeha Singh. A Bloger and A Insurance adviser for Life Insurance, Term Insurance, Child Insurance, Investment Plans and Tax Saving.

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Author: Anumeha Singh

Anumeha Singh

Member since: May 17, 2016
Published articles: 11

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