SBI Child plans Review | SBI Life Child Plan Features & Benefits

 SBI Child Plans Review

SBI Child plans are the best Plans Offered by SBI Life Insurance. SBI Life Insurance is a most trusted Private life insurance company that provides various life insurance covers for customer needs and provides protection to the insured family. SBI awarded as Most Coveted Outlook money awards 2014 for “Best Private Life Insurance Provider“.

SBI Life Insurance offers children plan to fulfill your kids dreams and provides a bright future for your child. SBI Child plan is an Individual Participating life insurance plan, which is specially designed to protect your child’s future and educational needs. SBI Child plan provides assured benefits that are payable during the term of the policy. SBI child plan has the special feature that is at the end of every year; the bonus will be accumulated which will be payable as per the policy payment terms. SBI child plan also covers Accidental Total Permanent Disability (ATPD) throughout the duration of the policy. The Accidental Total Permanent Disability benefit (ATPD) is accelerated. Hence, the insured event is death or ATPD, whichever is earlier.

If the life assured commits suicide within one year from the risk commencement date, then the policy will be void, and no death benefit will be payable. However an amount equal to 80% of the premiums paid will be payable to the nominee in case of suicide within one year from the risk commencement date provided the policy is in force.

SBI Child Plans Benefits

• Provides insurance cover at low-cost.
• This SBI Child plan helps you to fulfill your financial commitment towards your child.
• Secures both children and parents life.
• Provides life cover.
• Rebates on the large sum were assured.
• SBI Provides Survival Benefit and Death Benefit.
• Insurance Cover is provided irrespective of the state of child’s health on the deferred date.
• This SBI child plans helps you to meet the rising cost of your child’s education.
• Provides Additional Accidental death benefits riders.
• Tax Benefits are also available under Section 80C. For more information regarding Tax Benefits, visit www.taxqueries.in.
• The Insurance cover can be chosen by a parent or a guardian.

Example of SBI Child Plans

Suppose, a person had taken SBI Child plan for his daughter aged six years. The sum assured is Rs. 5,00,000. Benefits are provided to the child after reaching 18 years of age. Survival benefits are Guaranteed benefits plus Simple Vested Bonuses (if any) are provided to the child. In the case of unfortunate death of the child, then Death benefits are given to nominee.

SBI Child Plans

Two different types of child Plans are available under this SBI child plans. They are briefly explained below

SBI Life Child Plan Related Documents and Posts

Here we are providing related posts of the SBI Child Plans Term. Click the below links, if you want to know the details about the Online Payment, Recruitment, Renewal, Claim Forms, and Documents.

For any queries regard Information about SBI Life Child Plans, Visit the SBI Life Insurance official website: www.sbilife.co.in