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SBI Life Insurance offers various short-term plans, including 5-year life insurance policies, that provide financial security and peace of mind. Whether you’re looking for term insurance, endowment plans, or investment-linked policies, SBI Life has tailored options to meet different financial goals. Let’s learn the benefits of SBI Life Insurance 5-year plans, their features, and why they are a great choice.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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Here are some of the key benefits of 5 year plan offered by SBI Life Insurance:
A 5-year life insurance policy ensures that your family is financially protected in case of unforeseen circumstances. Life insurance plans offer a lump sum payout in the event of the policyholder’s demise.
Short-term plans often come with low premium rates, making them budget-friendly for policyholders who want life coverage without long-term commitments.
Policyholders can avail tax deductions under Section 80C of the Income Tax Act, and the maturity benefits are tax-free under Section 10(10D).
SBI Life Insurance and SBI Term insurance plans offer multiple premium payment modes, including monthly, quarterly, and yearly, allowing customers to choose according to their financial convenience.
On maturity, you will receive the maturity amount per the plan's terms and conditions. This lump sum can be used to achieve your short-term financial goals.
Term Plans
Individuals with short-term financial goals.
Those seeking a blend of investment and life coverage.
Risk-averse individuals looking for guaranteed returns (where applicable).
Tax-conscious individuals looking to maximize their savings.
Short-term commitment with significant benefits.
Ideal for working professionals seeking risk coverage with savings.
Customizable plans to fit different financial needs.
Reliable and trusted insurer with a strong claim settlement ratio.
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You can buy SBI Life insurance plan online by following the below-mentioned steps:
Step 1: Visit Policybazaar and go to ‘SBI Life insurance’ plan
Step 2: Enter your name, gender, contact number, and date of birth
Step 3: Fill in your smoking habits, educational qualifications, occupation type, and annual income
Step 4: Select the most suitable SBI Policy and proceed to pay.
Step 5: Once the first premium is paid, SBI Life Insurance will verify your policy form and will issue your policy.
Carefully review the policy terms and conditions before purchasing.
Understand the guaranteed returns (if applicable) and any associated charges.
Ensure the life coverage amount aligns with your family's financial needs.
SBI Life Insurance’s 5-year plans offer financial security, affordability, and quick returns, making them a great option for individuals seeking short-term coverage. Whether you seek term insurance, wealth growth, or guaranteed returns, these plans ensure peace of mind while protecting your loved ones.
˜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.
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