There is a scheme called SBI Life Poorna Suraksha under which you can give more strength to the family, at least in premium.
SBI Life Poorna Suraksha: The future is uncertain but preparations can be made from today. You and your family do not have to face any financial problems due to any untoward incident with you, you can prepare for this from today itself. For this, SBI Life is running a scheme called Purna Suraksha, under which it can give more strength to the family, at least in premium. Under the SBI Life Poorna Suraksha, people under the age of 30 can take a cover of Rs 2.5 crore on payment of less than Rs 100 every day.
The special feature of this scheme is that it covers critical illnesses and during the critical illnesses identified in the scheme, the premium will be waived. Under the policy, 36 critical illnesses will be covered. Apart from this, the premium will remain fixed during the entire policy period, that is, you will not have to worry about the premium going up as inflation increases. Under this, the death of the policyholder is also covered, that means the family will not have to face financial problems if the policyholder is not there.
So much will become premium
Suppose the age of a male policy holder is 30 years.
He is not an SBI staff and also does not smoke and is not a resident of Kerala.
In this situation, an annual premium of Rs 35849 will have to be paid for a policy term of 10 years for a cover of Rs 2.5 crore. That means less than 100 rupees per day.
In case of being a woman, all other data such as age, coverage and policy term are same, then a premium of Rs 34553 will be made annually.
Important things related to policy
Entry Age: Minimum – 18 Years and Maximum – 65 Years
Age at maturity: Minimum- 28 years and maximum- 75 years
Basic Sum Assured: Minimum – Rs 20 Lakh and Maximum – Rs 2.5 Crore
Premium Mode: Yearly / Half Yearly / Quarterly
In monthly premium mode, up to three months’ premium will be payable in advanced.
Policy Term: 10,15,20,25 and 30 years
This much will be covered
In the event of death, the nominee or legal heir will be paid ten times the annual premium or 105 percent of the premium deposited till death, whichever is higher, it will be payable.
Critical illness sum assured will be given only once during the entire policy period.
Under the Life Stage-Rebalancing feature, the automatic balance between the Life Cover and the Critical Illness (CI) Cover remains with the passage of the policy term. When you buy a policy, the Life Cover Sum Assured and CI Sum Assured remain in the ratio of 80:20 but after completion of every year the CI Sum Assured increases and the Life Cover Sum Assured decreases in the same proportion. The annual CI cover for a period of 10 years is 15 per cent compared to the initial CI SA, 10 per cent for a 15-year policy term, 7.5 per cent for a 20-year policy term, 6 per cent for a 25-year policy term, and a 30-year policy There is a 5 percent increase in duration.
