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SBI life insurance for 1 Lakh per year is an insurance plan that offers financial protection to your family and gives you a chance to create wealth in the long run. With these plans, you can beat inflation in the long run, build wealth for your family and save on your yearly taxes. These plans have an average annual premium of over 1 Lakh and are thus suited for HNIs and UHNIs who can afford such plans. Let us look at some of the SBI life insurance 1 Lakh per year plans suited for UHNIs.
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SBI life insurance offers a comprehensive range of insurance products to cater to various financial needs of the customer. These plans help HNIs, UHNIs, and other individuals secure their and their family’s future. You can choose from their wide range of plans and select the most suitable plans as per your requirements.
Here is a list of benefits you can claim with SBI Life insurance 1 Lakh per year:
Comprehensive Plans: SBI life insurance plan offers various life and term insurance plans that offer comprehensive coverage and benefits to suit the needs of customers from all walks of life.
Financial Security: These plans help you secure your loved ones financially in the event of your unfortunate demise during the policy term.
Wealth Creation: With SBI life insurance 1 lakh per year, you can create wealth in the long run by investing in different funds through these plans and gaining benefits.
Online Purchase: SBI life insurance allows you to purchase these plans online at affordable premiums and track the updates of the policy at your convenience.
High CSR: SBI life insurance has a high CSR of 95% for FY 2022-23, which indicates that the insurer settled most of the claim requests received by the company and is thus a reliable insurer from which to buy life insurance plans.
Term Plans
Here is a list of all the SBI life insurance 1 lakh per year in India:
| SBI life insurance 1 lakh per year | Entry Age | Maturity Age | Policy Term | Sum Assured |
| SBI Life eShield Plan | 18 - 65 years | 85/100 years | 5 - (85 - Entry age) years | 75 Lacs - 10 Crores |
| SBI Smart Swadhan Plus | 18 - 65 years | 23 - (70 - Entry age) years | 5 - 35 years | 20 Lacs - 10 Crores |
| SBI Life Smart Privilege | 8/13 - 55 years | 18 - 70 years | 5/10 - 30 years | - |
* You can use the SBI life insurance 1 lakh per year maturity calculator to get an estimate of the maturity benefits you will receive with the desired cover.
This SBI life insurance 1 lakh per year plan is suited for individuals who have a high net worth like the UHNIs. This is a pure protection plan that offers the death benefit to the nominee of the policy in case of the policyholder's death during the policy term.
Benefits
This term insurance plan provides life cover at an affordable premium for long tenure
The plan offers 4 plan options from which you can choose the most suitable option
You can choose to avail of accidental death benefit cover with this plan
The plan rewards you for maintaining a healthy lifestyle
You can get tax benefits as per the prevailing tax laws
This life insurance plan is pure risk cover that provides the chance to receive the premiums paid at the end of the policy. This SBI life insurance 1 Lakh per year offers the following benefits:
Benefits
This SBI term insurance plan can be purchased for housewives as well
You can pay the premiums in a single, limited, or regular premium payment term
The limited premium payment term under the plan is of 5, 10, and 15 years
The plan can only be purchased by individuals between the age of 18 to 65 years
You can claim term insurance tax benefits as per the prevailing tax laws
This is a ULIP plan that offers the chance to create wealth in the long term while protecting your loved ones during the policy tenure. These plans are the most suitable life insurance for HNIs or UHNIs.
Benefits
You can choose from 11 different fund options
This life insurance plan offers loyalty additions and no premium allocation charges from 6th policy year
You can pay the premiums in a single go, limited or regular premium payment term
There will be no administrative charges throughout the policy term
You can claim tax benefits as per the prevailing tax laws of the IT Act, 1961
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The SBI life insurance 1 lakh per year is one of the most suitable for HNIs and UHNIs. This is because these plans have an annual premium of Rs 1 Lakh per year, which can usually be afforded by high net worth individuals. You can go through the list of above plans and choose the one suited for your needs.
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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