Broadly insurance can be classified in two categories:
First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types:
Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans.
Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance
Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan .
Various Products offered by SBI Life :
Protection Products -
2. SBI life-Swadhan :Is a traditional Term Plan which provides protection and a refund either part / total premium at the end of the duration of the policy to the policyholder.
Saving Plans -
2. SBI Life-Money Back :Is a saving plan where you get a cover and also funds at various intervals during the policy.
Type of life insurance where the cash value of a policy varies according to the current net asset value of the underlying investment assets. It allows protection and flexibility in investment.
Unit Linked Products -
1. SBI Smart Performer :It offers the double benefits of ’Higher than the Highest’ of the daily NAV Guarantee and the view of market upside.
2. Unit Plus Super :It offers you guaranteed additions and choice of payment options, giving you far superior value.
3. Saral Maha Anand :Twin Benefit of Market linked returns & insurance cover.
4. SBI Life Smart Elite :It gives you flexibility to pay premium(s) for limited term or single premium, with the freedom to stay invested and protected for long term.
Health Plans -
Child Plan -
1. SBI Life Scholar II :I SBI Life - Scholar II has guaranteed benefits which are payable at the regular intervals during the term of the policy.
A type of retirement plan, usually tax exempt, wherein an employer makes contributions toward a pool of funds set aside for an employee's future benefit
Pension Products -
Group Products - Group Protection Plans:
Contact Number (Toll- Free Number):
Latest Updates - 20 May 2013