SBI Life - Poorna Suraksha

SBI LIFE - POORNA SURAKSHA

"Let affection of your loved ones be felt at all times"
1. Term Insurance Plan with Increasing** Critical Illness Cover
2. Premium waiver benefit on diagnosis of Critical Illness
3. Fixed premium throughout the policy term

An Individual, Non-linked, Non Participating, Life Insurance Pure Risk Premium Product with In - Built Critical Illness Cover

If your needs change with age, Why shouldn't your financial planning?
With SBI Life - Poorna Suraksha Plan, auto-rebalance your Life and Critical Illness cover as you get older, for more effective protection.

This Term Insurance product with Critical Illness cover offers:
1. Security - Comprehensive protection in case of death and critical illness
2. Simplicity - Re-balances your life and critical illness cover on every policy anniversary
3. Reliability - A lump sum payout providing financial support in case of diagnosis of any of the covered 36 critical illnesses and waiver of all future premiums.

Want to know how the life stage rebalancing feature helps you prepare financially? Try our premium calculator below

HIGHLIGHTS
1. Traditional Plan
2. Critical Illness Insurance
3. Term Plan
4. SBI Life - Poorna Suraksha
5. Protection Plan

Features & Advantages

Features
1. Life stage rebalancing
2. Comprehensive critical illness coverage
3. Waiver of premium on diagnosis of any of the covered Critical Illness
4. Fixed premium throughout the term of the policy

Advantages
Security
1. Get a comprehensive insurance coverage against death and critical illnesses
2. Even though the Critical Illness cover increases on every policy anniversary the premiums remains constant

Simplicity
1. Automatically adjusts your sum assured between life and critical illness cover on every policy anniversary

Reliability
1. Secure your finances against 36 serious critical illnesses
2. All future premiums are waived on diagnosis of any of the covered 36 critical illness

Plan Benefits

Life Stage Rebalancing:

The 'Life Stage Re-balancing' feature rebalances cover between Life Cover and Critical Illness (CI) Cover.

At policy inception, the Basic Sum Assured would be split between Life Cover Sum Assured (SA) & CI Sum Assured (SA) in the proportion of 80:20 respectively. There would be an increase in CI SA on each subsequent policy anniversary, as mentioned in table below. The increase will be as a percentage of initial CI SA, based on chosen policy term.

The decrease in Life Cover SA would be equal to the increase in CI SA.
The change in sum assured would happen only on policy anniversary.



Life Cover:
In case of death of life assured, sum assured on death would be the paid to the nominee or legal heir, as the case may be.
Where the Sum assured on death is higher of the following:
A) 10 times the Annualized premium%, or;
B) 105% of total premium@ received up to the date of death, or;
C) Absolute amount assured to be paid on death, which is equal to the effective Death Benefit sum assured+, as applicable on the date of death.
+Effective Death Benefit Sum assured is the sum assured payable on death of the life assured applicable for the policy year in which the death has occurred.
% Annualized premium, shall be the premium amount payable in a year, as chosen by the policyholder, excluding the applicable taxes, underwriting extra premiums and loading for modal premiums, if any.
@ Total premiums received means total of all the premiums received, excluding any extra premium and applicable taxes.

Critical Illness (CI) Benefit

Effective^^ Critical Illness Sum Assured will be paid, on the diagnosis of covered critical illness. The CI Benefit will be paid only once and will cease once the benefit is paid.

^^ Effective Critical illness sum assured is the sum assured payable on life assured getting diagnosed with one of the covered CIs, applicable for the policy year in which the CI has been diagnosed.

1. Survival Period for Critical Illness Benefit
The Critical Illness Benefit is payable only after survival period of 14 days from the date of diagnosis of the covered critical illness. In other words, Critical Illness benefit is not payable if the life assured dies within 14 days from the date of diagnosis of the covered critical illness.
2. Waiting Period for Critical illness benefit
There is a waiting period of 90 days from the date of commencement of risk or revival whichever is later and no Critical Illness benefit will be payable, if the diagnosis of any the covered CI has occurred during the waiting period.

N.B. - Please refer Product Brochure for definitions of 36 Illnesses covered and their exclusions

Premium Waiver Benefit
Once a claim under CI is accepted by the Company, all future premiums for the policy will be waived for the rest of the policy term, from the date of diagnosis of the medical condition. The remaining policy benefits shall continue throughout the policy term. The Life Stage Rebalancing will cease to exist once premiums are waived off and the Effective^ Life Cover SA will remain constant from thereon.

Maturity Benefit:
No maturity benefit available under the plan.

Avail tax benefits*

Who can buy?



**Rebalancing of Life and Critical Illness cover on every policy anniversary based on the policy term chosen. The total basic Sum Assured will remain constant throughout the policy term.

*Tax Benefits:

You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details here. Please consult your tax advisor for details.