{"id":6116,"date":"2018-06-12T02:39:54","date_gmt":"2018-06-11T21:09:54","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=6116"},"modified":"2019-04-15T18:01:47","modified_gmt":"2019-04-15T12:31:47","slug":"sbi-life-insurance-for-1-crore-policy","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/","title":{"rendered":"SBI Life Insurance for 1 Crore Policy"},"content":{"rendered":"<p>To protect yourself and your loved ones from unforeseen and unfortunate events, life insurance always helps. In India, we have many companies both public and private that will offer you insurance policies with sum assured to suit your needs. The sum assured can range from something as low as Rs. 50, 000 and even touch Rs. 1 crore and even more if need be. With the increasing costs of day to day expenses and rising healthcare costs and much more, an insurance policy will a sum assured of Rs. 1 crore will help you provide your family with the future you always wanted them to have even in your absence.<\/p>\n<div class=\"row btm-pad product-landing-btn-block\">\n<div class=\"col-md-12 link-section\">\n<h2>Who is eligible to purchase these policies with a sum assured of Rs. 1 crore?<\/h2>\n<p>Any individual who is within the age group of 30 &#8211; 35 years, and has the capability of earning for more years to come, or is the sole breadwinner of the family. These individuals will be the most ideal to purchase a insurance plan with a sum assured of Rs. 1 crore.<\/p>\n<h2>Types of SBI Life Insurance 1 Crore Policy:<\/h2>\n<p>SBI Life Insurance\u00a0is one of the largest insurance providers in the country. The plans are designed in such a way that they will suit any individual no matter what kind of plans they are looking for. They provide applicant with Term Plans, Protection Plan, Child Plan, Retirement Plans, and Savings Plan. They also offer their applicant many options of life insurance plans that provide them with a coverage of Rs. 1 crore.<\/p>\n<p>SBI Life Insurance offer a few of their policies which have a sum assured of Rs. 1 crore, they are:<\/p>\n<ol>\n<li><strong>SBI Life &#8211; Smart Champ Insurance<\/strong>: This plan is designed to help your child have a brighter future and provide your child the expenses related to your child\u2019s further education. It is non-linked, participating, individual plan.The key features of this plan is to provide for:\n<ul>\n<li>Education Needs &#8211; Smart benefits are paid in 4 installments after your child is 18 years of age and till he\/she turns 21 years of age.<\/li>\n<li>Triple Protection &#8211; Protection for your child in case there is any unforeseen events occur during the term of the policy. By providing them with: Immediate Payment, Waiver of any due payments, Smart benefit.<\/li>\n<li>Option to make one single payment<br \/>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td width=\"297\">Entry age<\/td>\n<td width=\"297\">Child\u2019s age: minimum 0 &#8211; maximum 13 years<\/p>\n<p>Life Assured: minimum 21 &#8211; maximum 50 years<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Age at maturity<\/td>\n<td width=\"297\">Child\u2019s age: 21 years<\/p>\n<p>Life Assured: 70 years<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Basic Sum Assured<\/td>\n<td width=\"297\">Minimum: Rs. 1,00,000 (\u00d7 1,000\/-)<\/p>\n<p>Maximum: Rs. 1 crore<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Premium amount<\/td>\n<td width=\"297\">Yearly &#8211; Rs. 6, 000<\/p>\n<p>Half yearly &#8211; Rs. 3, 000<\/p>\n<p>Quarterly &#8211; Rs. 1, 500<\/p>\n<p>Monthly &#8211; Rs. 500<\/p>\n<p>Single pay &#8211; Rs. 66, 000<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Policy Term<\/td>\n<td width=\"297\">21 years less the child\u2019s age at entry<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Premium Payment Term for Limited premium payment term Policy<\/td>\n<td width=\"297\">18 years less the child\u2019s age at entry<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Frequency of premium<\/td>\n<td width=\"297\">Yearly<\/p>\n<p>Half yearly<\/p>\n<p>Quarterly<\/p>\n<p>Monthly<\/p>\n<p>Single pay<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/li>\n<\/ul>\n<p>With this plan the benefit of the SBI Life &#8211; Smart Champ Insurance:<\/p>\n<ul>\n<li>Lump sum payment immediately<\/li>\n<li>Benefit of survival will be at the end of the policy year when the child completes 18, 19, 20 or 21 years of age<\/li>\n<li>Tax Benefit as per the Income Tax Act of 1961 is available under this plan<\/li>\n<\/ul>\n<\/li>\n<li><strong>SBI Life \u2013 eShield<\/strong>: This plan is a non-linked, non-participating, individual plan with financial protection for individual who need specific tailored benefits at affordable costs. This plan will have options such as Level Cover, Level Cover with Accidental Death Benefit, Increasing Cover, Increasing Cover with Accidental Death Benefit.The key features of this plan will be:\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>At an affordable premium, you can now secure your family<\/li>\n<li>Apply online in an easy and seamless process for securing life cover.<\/li>\n<li>Earn rewards for maintaining a healthy lifestyle.<\/li>\n<li>Choose from a wide variety of plan options, with increasing cover and levels as well<\/li>\n<li>Can choose to add an additional benefit of Accidental Death Benefit.<\/li>\n<li>Get tax benefits under section 80C and 10(10D) of Income Tax Act, 1961<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td width=\"297\">Entry age<\/td>\n<td width=\"297\">Minimum: 18 years<\/p>\n<p>Maximum:<\/p>\n<p>65 years for the options Level Cover and Level Cover with Accidental Death Benefit.<\/p>\n<p>60 years for the options Increasing Cover and Increasing Cover with Accidental Death Benefit<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Age at maturity<\/td>\n<td width=\"297\">70 years<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Basic Sum Assured<\/td>\n<td width=\"297\">Minimum: Rs. 20,00,000<\/p>\n<p>Maximum: Rs. 1 crore<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Premium amount<\/td>\n<td width=\"297\">Minimum: Rs. 3, 500<\/p>\n<p>Maximum: No Limit<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Premium payment term<\/td>\n<td width=\"297\">As long as the policy term to be paid annually<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The benefits of this plan:<\/p>\n<ul>\n<li>Death Benefit based on the plan chosen<\/li>\n<li>There is no survival benefit at the end of the term<\/li>\n<li>Tax Benefit as per the Income Tax Act of 1961 is available under this plan<\/li>\n<\/ul>\n<\/li>\n<li><strong>SBI Life &#8211; Smart Power Insurance<\/strong>: This is a non-participating, unit linked insurance plan that gives you protection and also looks at your investment needs as well. Provide you family the financial security as well as make investments in the financial markets<br \/>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td width=\"297\">Entry age<\/td>\n<td width=\"297\">Minimum: 18 years<\/p>\n<p>Maximum: 45 years<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Age at maturity<\/td>\n<td width=\"297\">65 years<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Frequency of premium<\/td>\n<td width=\"297\">Yearly<\/p>\n<p>Half yearly<\/p>\n<p>Quarterly<\/p>\n<p>Monthly<\/p>\n<p>Single pay<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Basic Sum Assured<\/td>\n<td width=\"297\">Minimum: Annual premium x 10 or 0.50 x term of policy x annual premium<\/p>\n<p>Maximum: Annual premium x 20<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Premium amount<\/td>\n<td width=\"297\">Yearly &#8211; Rs. 15, 000<\/p>\n<p>Half yearly &#8211; Rs. 9, 500<\/p>\n<p>Quarterly &#8211; Rs. 5, 500<\/p>\n<p>Monthly &#8211; Rs. 2000<\/td>\n<\/tr>\n<tr>\n<td width=\"297\">Premium payment term<\/td>\n<td width=\"297\">As long as the policy term which can be 10, 15, 30 years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The key benefits of this plan are:<\/p>\n<ul>\n<li>Maturity Benefit: When the policy completes its term, the Fund Value will be paid.<\/li>\n<li>Death Benefit: Sum Assured is payable or a higher of the Fund Value. With a minimum of 105% of the basic premiums in total paid till the time of death.<\/li>\n<li>Total and Permanent Disability Benefit: 100% of the Death Benefit will be payable<\/li>\n<li>Tax Benefit as per the Income Tax Act of 1961 is available under this plan<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p>GST of 18% is applicable on life insurance effective from the 1st of July, 2017<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>To protect yourself and your loved ones from unforeseen and unfortunate events, life insurance always helps. In India, we have many companies both public and private that will offer you insurance policies with sum assured to suit your needs. The sum assured can range from something as low as Rs. 50, 000 and even touch &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SBI Life Insurance for 1 Crore Policy&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6116","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>SBI Life Insurance for 1 Crore Policy | Antworksmoney<\/title>\r\n<meta name=\"description\" content=\"We have many companies both public and private that will offer you insurance policies with sum assured to suit your needs.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"SBI Life Insurance for 1 Crore Policy | Antworksmoney\" \/>\r\n<meta property=\"og:description\" content=\"We have many companies both public and private that will offer you insurance policies with sum assured to suit your needs.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antworksmoney\/\" \/>\r\n<meta property=\"article:modified_time\" content=\"2019-04-15T12:31:47+00:00\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:site\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/\",\"name\":\"SBI Life Insurance for 1 Crore Policy | Antworksmoney\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\"},\"datePublished\":\"2018-06-11T21:09:54+00:00\",\"dateModified\":\"2019-04-15T12:31:47+00:00\",\"description\":\"We have many companies both public and private that will offer you insurance policies with sum assured to suit your needs.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.antworksmoney.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SBI Life Insurance for 1 Crore Policy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"name\":\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\",\"name\":\"antworksmoney.com\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"contentUrl\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"width\":335,\"height\":328,\"caption\":\"antworksmoney.com\"},\"image\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/antworksmoney\/\",\"https:\/\/twitter.com\/AntworksMoney\",\"https:\/\/www.linkedin.com\/company\/13288601\/\",\"https:\/\/in.pinterest.com\/antworksmoney\"]}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBI Life Insurance for 1 Crore Policy | Antworksmoney","description":"We have many companies both public and private that will offer you insurance policies with sum assured to suit your needs.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/","og_locale":"en_US","og_type":"article","og_title":"SBI Life Insurance for 1 Crore Policy | Antworksmoney","og_description":"We have many companies both public and private that will offer you insurance policies with sum assured to suit your needs.","og_url":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/","og_site_name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","article_publisher":"https:\/\/www.facebook.com\/antworksmoney\/","article_modified_time":"2019-04-15T12:31:47+00:00","twitter_card":"summary_large_image","twitter_site":"@AntworksMoney","twitter_misc":{"Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/","url":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/","name":"SBI Life Insurance for 1 Crore Policy | Antworksmoney","isPartOf":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#website"},"datePublished":"2018-06-11T21:09:54+00:00","dateModified":"2019-04-15T12:31:47+00:00","description":"We have many companies both public and private that will offer you insurance policies with sum assured to suit your needs.","breadcrumb":{"@id":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.antworksmoney.com\/blog\/sbi-life-insurance-for-1-crore-policy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.antworksmoney.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SBI Life Insurance for 1 Crore Policy"}]},{"@type":"WebSite","@id":"https:\/\/www.antworksmoney.com\/blog\/#website","url":"https:\/\/www.antworksmoney.com\/blog\/","name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","description":"","publisher":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.antworksmoney.com\/blog\/#organization","name":"antworksmoney.com","url":"https:\/\/www.antworksmoney.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","contentUrl":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","width":335,"height":328,"caption":"antworksmoney.com"},"image":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/antworksmoney\/","https:\/\/twitter.com\/AntworksMoney","https:\/\/www.linkedin.com\/company\/13288601\/","https:\/\/in.pinterest.com\/antworksmoney"]}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages\/6116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/comments?post=6116"}],"version-history":[{"count":1,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages\/6116\/revisions"}],"predecessor-version":[{"id":11457,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages\/6116\/revisions\/11457"}],"wp:attachment":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/media?parent=6116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}