Sbi life suraksha plus plan is a non-linked and non-participating group term plan.

Features and benefits

• Death benefits- in case of the demise of the insured individual due to any reasons, the basic sum assured is paid out to the nominee or beneficiary as applicable. No maturity benefits are payable since this is a pure term product.

• Premium payments- the policyholder can choose between single premium option and regular premium option. Various premium payment modes are available under the regular premium option - monthly, quarterly, half-yearly and yearly.

• Sum assured- the insured individual can choose the level sum assured from different options.

• Surrender facility- under single premium mode, surrender facility is available.

• Free-look period- the policy has a 15-day free look period from the date of receipt of policy documents.

Eligibility criteria

• The minimum entry age is 18 years, while the maximum is 69 years.

• The maximum maturity age is 75 years or as per scheme rules.

• The minimum group size is 50 members.

• The minimum sum assured is ?1k per member.

• There is no limit on the maximum sum assured.

• The minimum premium is ?5k per scheme in case of single premium and ?1k per scheme in case of regular premium.

• There is no limit on the maximum premium