Why a person should save?
- Longevity is increasing…
- üIndia had 77 Million older people in 2001
- üExpected to have 177 Million by 2025.
- üWe are going to have 10% of the total
- population of above 60 yrs.
- üHealth Care cost is on the increasing side.
- üInflation, falling interest rates, nuclear family.
Why to save with SBI?
- ØState Bank –Household Name in Banking
- Ø200 years of Trust & reliability.
- Ø14500 branches across the country
- ØMore than 100 offices abroad
- ØRecently acquired banks in Mauritius, Kenya and Indonesia.
- ØEvery 10th Indian is an SBI customer!
- 0 to 3000 Crores in 6 years.
- 1st Insurance company to make Profit among 16 Insurance cos.
- 1st Insurance company to be AAA rated.
- 1st Insurance company certified at CMM1 level 3.
- Fully owned subsidiary of BNP Paribas
- 5th Largest Bank in the world.(SBI Rank 93)
- Operates in 30 countries.
- Pioneer in Banccassurance in the world.
Eligibility Criteria
Age : Entry: 0- 65 Years (risk cover from age 7 only)
Term : Fixed Term 5- 40 yrs.
: Whole Life (till death or upto age 99)
Term for Minor : 18 - age at entry or 5 yrs (whichever is higher)
Age at maturity : 80 for limited term, 99 for whole life.
Minimum Premium : Y- 24000, H- 12000, Q- 6000, M-2000
(Single P- 40000)
Partial withdrawals
Allowed from later of 4th policy anniversary or age 18 whichever is later.
4th & 5th year : 25 % of the fund Value
6th year onwards : Fund value – (125% of AP)
Single premium : Fund value – (10,000)
4 free withdrawals in a year. After that 100/- per withdrawal.
Allowed from later of 4th policy anniversary or age 18 whichever is later.
4th & 5th year : 25 % of the fund Value
6th year onwards : Fund value – (125% of AP)
Single premium : Fund value – (10,000)
4 free withdrawals in a year. After that 100/- per withdrawal.
Bonus Units will be allotted as follows:
8th Yr. : 15% of average Basic premium paid
15th Yr. : 25% of average Basic premium paid
20th Yr : 60% of average Basic premium paid
Totally 100% of the average Basic premium paid
8th Yr. : 15% of average Basic premium paid
15th Yr. : 25% of average Basic premium paid
20th Yr : 60% of average Basic premium paid
Totally 100% of the average Basic premium paid
Hey...Great information thanks for sharing such a valuable information
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