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 Smart Champ Insurance Plan: SBI life smart champ insurance plan is a Participating life insurance plan that is mainly designed to protect your child’s future educational needs. Sbi life Smart champ insurance plan has assured benefits that are payable during the term of the policy. Also, SBI life Smart champ insurance plan is a participating policy and will accrue bonuses at the end of every policy year till the child completes 18 years of age and a final Terminal bonus if any. For more details, please refer below link.
SBI Life Smart Scholar Insurance Policy: SBI Life Smart Scholar policy, a non-participating Unit Linked Insurance Plan, which Secures your child’s future by gaining from the financial markets. And its gives a protection to your child in your absence. This Policy provides both maturity benefit and Death benefits. Tax benefits are also available under Section 80C. For more information regarding Tax Benefits, visit www.taxqueries.in.For more details, please refer below link.
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