SBI Life Insurance in future time
SBI Life Insurance Co Ltd is a joint venture. The alliance formed by State Bank of India (SBI) and BNP Paribas Cardif S.A.(BNP Paribas Cardif). In which SBI owns 70.1% of the total capital and BNP Paribas Cardif holds 26%, the rest of 1.95% is shared by Value Line Pte. Ltd, MacRitchie Investments Pte. Ltd each.
In 2016, SBI Life Insurance was awarded as ‘Life Insurance Company of the Year’ and ‘Bancassurance Leader Life Insurance (Large Category)’ at the Indian Insurance Awards.SBI Life offers range of life insurance products to cater different segments as per their need. SBI life offers both Individual and Group plans.
Types of SBI Life Plan
SBI Life insurance offers range of life insurance products with variants to provide financial protection against life’s uncertainties.
- SBI Life Unit Linked Insurance Plans (ULIP)
- SBI Life Protection (Term) Insurance
- SBI Life Savings Plans
- SBI Life Investment Plans
- SBI Life Retirement Plans
- SBI Life Child Plans
SBI Life Child’s Plan
This plan offers to save money for child’s future. This plan helps to build funds for child’s education and marriage. Have a complete peace of mind while you celebrate life with your kids with the help of Child’s plan.
Features of Child Plans
- Opportunity to build corpus for child’s future
- Different variants available
- Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.
SBI Life types of Child’s Plan:
SBI Life – Smart Scholar
This plan is designed keeping child’s future growth. Offer an inbuilt Waiver of Premium featured rider, while an option to customize with Accidental Death Benefit and Total Permanent Disability Rider. Option of 7 funds allocation.
SBI Life – Smart Champ Insurance
This plan is focuses on the child’s future growth. The policyholder is assured with Accidental Death Benefit. Provides four equal annual installments after the child attains 18 years of age. This plan offers triple protection in case of an unfortunate event during the policy term wherein something happens to the life insured – immediate payment, waiver of premiums and terminal bonus.
SBI Life Insurance is the product of the amalgamation between two banking and insurance giants – the State Bank of India (SBI) and the BNP Paribas Cardif. While SBI owns 70.1% stake at the company, the life and property insurance branch of BNP Paribas Group that is BNP Paribas Cardif owns 26%. Founded in 2001 as a bancassurance company, SBI Life Insurance banks on its 18,000 strong network of branches, 80,000 door-to-door insurance advisors and access to 100 million accounts as leverage for furthering their goal.
Why Choose SBI Life Insurance?
SBI Life Insurance has 16 glorious years of providing great service to its customer base. Over the years SBI Life have come up with various insurance plans and products for the benefit of their customers. They are constantly reinventing themselves providing the latest technology and tool to the policyholders to make insurance-buying a simpler process.
Savings insurance plans are mostly participating plans that provide the double benefit of both a life insurance cover and growth of funds, so that the money is put to work even if there’s no insurance claim ever made. Savings plan gives maturity benefits and bonuses along with the usual death benefits.
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