The SBI Life Insurance – Money Back is a conventional savings plan with additional benefit of guaranteed cash and life cover. The inflow of guaranteed cash is paid at accepted intervals. This insurance plan is specially planned for the individuals who want to make preparation for the different financial obligations at required times in life.
The key features of SBI Life – Money Back are as follows:
- This plan has various money back options which suit the need of the policy holder.
- The cover of the policy is available at aggressive premium rates.
- Along with the normal death cover the insurance plan also offers four additional covers.
- This plan guarantees cash inflow which can meet the different financial obligations.
The benefits of SBI Life – Money Back are as follows:
In case of the unlucky death of the policy holder the nominee will get the sum assured along with the vested bonus which will be accrued till the date of death. If the survival benefits are already paid no deductions are made from the claim amount.
If the death is due to suicide on the 1st year the appliance is excluded to the basic cover.
Under Accidental Death and Accidental Total Permanent Disability Rider:
In case of death due to accident the nominee will get the additional rider sum assured.
If the policy holder is permanently disable due to any accident 10 come to annual installments are to be paid.
Under Term Assurance Rider:
The benefit under the Term Assurance Rider is payable in addition to death benefit.
Under Premium Waiver Benefit Rider:
For this rider the policy holder is necessary to pay the future premium if he/she suffers from permanent disability due to accident.
Under Critical Illness Rider:
On the diagnosis of the critical illness more than 30 days the amount.
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