Mumbai, January 29: SBI Life Insurance on January 25 announced the launch of SBI Life – Poorna Suraksha, a one of its kind plan, which is a non-linked non-participating, term assurance plan, with an inbuilt Critical Illness cover. The policy offers coverage for a wide range of 36 critical illnesses. SBI Life Poorna Suraksha also helps one to boost his/her financial planning by providing Life and Critical Illness cover, which auto re-balances with the evolving needs as the age progresses.
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Speaking at the launch of the product, Arijit Basu, MD and CEO, SBI Life said “SBI Life being a customer centric organisation always strives to offer products to its customers that gives them optimal benefits and also takes care of their growing needs. In the initial years of a person’s life, the liabilities like home loans, education loans, etc. are on the higher side of the spectrum which requires adequate life cover, but as they progress in life, the liabilities come down but the possibility of Critical Illnesses increases. The plan here very smartly adapts to these changing needs of the customers through its auto re-balancing feature. This product not only fulfils the need of financial security but also helps the insured with health related expenses arising due to critical illnesses.”
SBI Life – Poorna Suraksha gives the freedom to choose premium payment term of monthly, half- yearly and yearly, based on policyholders’ convenience. The policy term is of 10, 15, 20, 25 and 30 years based on insurance needs. Another benefit of the plan is that the premium remains the same throughout the policy term in spite of increasing critical illness cover and increase in age. However, when the critical illness cover increases, the life cover will decrease by an equal amount to accommodate the increase in critical illness cover, such that the total cover remains constant throughout the policy term.
For more details, one may visit: www.sbilife.co.in