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You can find several life insurance plans offered by SBI that come with a tenure of 5 years. If you are interested in SBI life insurance 50000 per year, you can even use the online calculator to have an idea of the value that you are getting.
Buying an SBI life insurance policy is the wisest thing that you can do. Here are some of the reasons explaining the same.
Read More: Best 5 SBI Life Insurance Plans
If you are interested in opting for SBI life insurance 50,000 per year plan for 5 years, then here are some of the plans that you can consider.
Names of SBI Life Plans | Plan Type | PT/PPT/SP | Entry Age | Maturity Age |
Retire Smart | Unit Linked Pension | 5 Years | 30 Years | 80 Years |
Shubh Nivesh | Variable Savings | 5 Years | 18 Years | 65 Years |
Smart Platina Assure | Endowment | 6 Years | 3 Years | 75 Years |
Wealth Builder | Unit Linked | 5 Years | 2 Years | 70 Years |
Wealth Assure | Unit Linked | 10 Years | 8 Years | 70 Years |
Grameen Bima | Micro Finance | 5 Years | 18 Years | NA |
Let us know a bit more about these plans.
Planning for retirement is one of the most important things that we should do. You must make plans ahead so that you do not have to be dependent on anyone post-retirement. This is where the SBI Life Retire Smart plan works perfectly.
Features | Details |
Plan Term | 10/15/30 years |
Basic sum assured | As per premium |
Coverage benefits | Death benefit, surrender benefit maturity benefit, and deferred vesting benefit |
Nomination | Available |
Free look period | 30 days (Online policy purchase) and 15 days (for others) from the policy buying date |
Entry age | Min. 30 years, Max. 70 years |
Maturity age | Min. 40 years, Max. 80 years |
It is a non-linked, non-participating, and insurance-saving product and lets you choose a Whole Life Coverage. The benefits can be broken into a regular income stream.
Features | Details |
Plan Term | 5/7/15/30 years |
Premium payment frequency | Monthly, quarterly, yearly, and half-yearly |
Loans | Available (limited to 90% of special surrender value) |
Nomination | Available |
Free look period | 15 days from the policy buying date |
Entry age | Min. 18 years, Max. 50 years |
Maturity age | Min. 65 years, Max. 100 years |
It is an endowment plan which is non-linked and non-participating. By paying for a limited time, you can get guaranteed returns under this policy.
Features | Details |
Limited premium payment option | 6/7/8/and 10 years |
Premium payment frequency | Monthly, half-yearly, and Yearly premium payment |
Tax benefits | Available |
Plan Benefits | Maturity, survival, and death benefits |
Entry age | Min. 7 years, Max. 60 years |
Maturity age | Min. 65 years, Max. 99 years |
It is an individual-linked and non-participating plan that helps the policyholders to plan their retirement and create a wealth corpus accordingly.
Features | Details |
Plan type | Regular/limited/single plan |
Premium frequency | Single/Annual |
Tax benefits | Available |
Coverage benefit | Maturity benefit, death benefit |
Entry age | Min. 2 years, Max. 55 years |
Maturity age | Min. 18 years, Max. 70 years |
This is a unit-linked plan and targets individuals who want to invest in higher yields through market-linked tools.
Features | Details |
Plan term | 10 to 30 years |
Premium payment term | Single |
Tax benefits | Available |
Basic sum assured | 1.25 * single premium |
Entry age | Min. 8 years, Max. 60 years |
Maturity age | Max. 70 years |
It is a microfinance life insurance policy that is non-linked and non-participating.
Features | Details |
Plan Term | 5 years |
Premium payment frequency | Single |
Coverage benefits | Death benefit and maturity benefit |
Surrender value | Available from the second year of the policy |
Free look period | 15 days from the policy buying date |
Entry age | Min. 18 years, Max. 50 years |
Now, all that you need to do is to choose from the SBI life insurance 50,000 per year plan (एसबीआई लाइफ इंश्योरेंस 50,000 प्रति वर्ष) for 5 years. To check the premium, you need to pay for certain plans, you can even use SBI Life Insurance Calculator.
Know More: Best Ways To Compare & Buy Term Life Insurance Online
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A 5-year-term life insurance policy provides coverage to the insured for five years.
It totally depends upon your choice though. Although the Claim Settlement Ratio of LIC is 96.69% and SBLI Life is 93.09%, you can check out and compare the plans of both life insurance providers and then choose accordingly.
Some of the best SBI Life insurance policies for 5 years are Retire Smart, Shubh Nivesh, Smart Platina Assure, Wealth Builder, Wealth Assure, and Grameen Bima.
SBI Life insurance is absolutely safe. You can get some of the best life insurance policies at the most affordable premiums.
Yes, for many people, the five-year term insurance plan is ideal for providing financial protection to their families.
Yes, a policyholder can surrender the SBI life insurance policy at any time after the policy start date by writing to the insurance company and filling out a cancellation form.
Term life insurance policy doesn't come with a cash value component, so it is not possible to cash it out.
Most life/term insurance providers offer policies with a term that ranges between 5 to 40 years.
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Life insurance secures our families against unforeseen incidents, the armed forces protect the country against unseen enemies both within and outside the borders. Army sacrifices.
Life Insurance Corporation (LIC) of India presents a wide array of insurance products and service options to its customers. With millions of policyholders, the query.
India’s leading public sector insurer, LIC, is synonymous with security and trust. LIC has been serving Indian customers for a long time now. With a.
The insurance business is evolving with everything becoming digitized, and so is LIC or Life Insurance Corporation of India, the most prominent public insurer in.
There are many policyholders who apply for policy cancellation just after a year of purchasing the plan. Why is it so? People generally buy insurance.
LIC is a public sector insurer that caters to the common people, including the rural population. LIC offers several cost-effective policies with attractive features and.
LIC, a market leader in India’s insurance sector, is known for its years of dedicated services toward customers, which has gained the company the reputation.
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Life insurance policies are a kind of security that people buy to protect their family members against the uncertainties of life. However, at times it.
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