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Launch Date Product Code UIN Status
22/6/2016 35 111N055V03 Active

About SBI Life Shubh Nivesh

  • It is an endowment plan that provides accrued bonus on maturity
  • In this plan one can choose a death risk cover till he is 100 years old
  • SBI Life Shubh Nivesh plan offers deferred payout option of maturity amount for specific life goals
  • Regular or single premium payment option
  • SBI Life Shubh Nivesh provides additional benefits in the form of three riders

How does this plan work?

Under this SBI Life Shubh Nivesh plan, an individual decides upon a simple endowment plan or an endowment with whole-life cover and can choose to pay a single premium or regular premium for a policy term selected between 5 to 30 years.  After the policy term ends on maturity, he receives a lumpsum as maturity benefit which includes basic sum assured and accrued bonus.

The individual can opt to receive maturity benefit in the form of regular periodic payouts (deferred payout). This maturity benefit consist of accrued bonus which is paid at the end of the policy term and the sum assured is paid over the deferred payout period i.e. 5 or 10 or 15 or 20 years.

Endowment Options:

In-case on death of the individual during the policy term if he has paid regular premiums, his nominee receives Sum assured on death and accrued bonus. The sum assured on death is a higher value from

  1. Basic Sum Assured
  2. A multiple of annualized premium depending upon the age and policy term:
  • For a policy term < 10 years, 5 times of annualized premium is paid
  • For a policy term > 10 years, if the insured is less than 45 years old nominee gets 10 times the annualized premium Or if  the insured is greater than 45 years old nominee gets 7 times the annualized premium

       3. 105% of the annualized premium

If he has paid a single premium then on his death, nominee receives Sum assured on death and accrued bonus. The sum assured on death is a higher value from basic sum assured or a multiple (1.25 if age of insured is less than 45 years or 1.0 if the age of the insured is greater than 45 years) of single premium paid. Suppose if the individual dies during the payout term (deferred period) then the nominee receives the remaining instalments.

Endowment with Whole Life Option:

If an individual has taken a whole-life endowment plan and dies after the maturity has been paid, then the nominee receives basic sum assured. If policyholder survives till the age of 100 he would receive basic sum assured additionally.

Let us now understand with an illustration,

Consider

Person’s age: 37 years
Policy term: 15 years
Premium payment term: 15 years

Consider a 37 year old person, chooses a sum assured of Rs 1 lakh for a whole-life endowment plan and pays regular annual premium of Rs 9497 for a term of 15 years. On maturity, he will receive approximately Rs. 171051 maturity benefit which includes Sum assured and accrued bonus. On his survival for 100 years of age he gets additional maturity benefit of Rs 1 lakh.

If he dies during the 5th year of the policy term, his nominee receives Rs 1 lakh as death benefit and accrued bonus of approximately Rs. 20000. Suppose he survives the policy term and dies in the 18th year then his nominee gets only the sum assured of Rs 1 lakh as death benefit.

Why should you buy this plan?

  • This plan provides periodic payouts for specific life goals
  • Low investment  with high returns

 

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Bonus History

Company Name : SBI Life Insurance

Plan Name : Shubh Nivesh

BonusYear RevBonus TerminalBonus InterimBonus MinPPT MinPT MaxPT
2013-14 3% 10.00% 3.00% Regular Pay 5 9
2013-14 3% 3.00% Regular Pay 10 14
2013-14 3% 3.00% Regular Pay 15 19
2013-14 3.10% 3.10% Regular Pay 20 24
2013-14 3.10% 3.10% Regular Pay 25 Above
2013-14 3.25% 10.00% 3.25% Single Pay 5 9
2013-14 3.25% 3.25% Single Pay 10 14
2013-14 3.25% 3.25% Single Pay 15 19
2013-14 3.25% 3.25% Single Pay 20 24
2013-14 3.25% 3.25% Single Pay 25 Above
2013-14 2.75% 2.75% Regular Pay 5 9
2013-14 2.75% 2.75% Regular Pay 10 14
2013-14 2.75% 2.75% Regular Pay 15 19
2013-14 2.75% 2.75% Regular Pay 20 24
2013-14 2.75% 2.75% Regular Pay 25 Above
2013-14 2.75% 2.75% Single Pay 5 9
2013-14 2.75% 2.75% Single Pay 10 14
2013-14 2.75% 2.75% Single Pay 15 19
2013-14 2.75% 2.75% Single Pay 20 24
2013-14 2.75% 2.75% Single Pay 25 Above
2014-15 3% 12.00% 3.00% Regular Pay 5 9
2014-15 3% 3.00% Regular Pay 10 14
2014-15 3% 3.00% Regular Pay 15 19
2014-15 3.10% 3.10% Regular Pay 20 24
2014-15 3.10% 3.10% Regular Pay 25 Above
2014-15 3.25% 12.00% 3.25% Single Pay 5 9
2014-15 3.25% 3.25% Single Pay 10 14
2014-15 3.25% 3.25% Single Pay 15 19
2014-15 3.25% 3.25% Single Pay 20 24
2014-15 3.25% 3.25% Single Pay 25 Above
2014-15 2.75% 2.75% Regular Pay 7 9
2014-15 2.75% 2.75% Regular Pay 10 14
2014-15 2.75% 2.75% Regular Pay 15 19
2014-15 2.75% 2.75% Regular Pay 20 24
2014-15 2.75% 2.75% Regular Pay 25 Above
2014-15 2.75% 2.75% Single Pay 5 9
2014-15 2.75% 2.75% Single Pay 10 14
2014-15 2.75% 2.75% Single Pay 15 19
2014-15 2.75% 2.75% Single Pay 20 24
2014-15 2.75% 2.75% Single Pay 25 Above
2015-16 3% 45% 3.00% Regular Pay 5 9
2015-16 3% 3.00% Regular Pay 10 14
2015-16 3% 3.00% Regular Pay 15 19
2015-16 3.10% 3.10% Regular Pay 20 24
2015-16 3.10% 3.10% Regular Pay 25
2015-16 3.25% 25% 3.25% Single Pay 5 9
2015-16 3.25% 3.25% Single Pay 10 14
2015-16 3.25% 3.25% Single Pay 15 19
2015-16 3.25% 3.25% Single Pay 20 24
2015-16 3.25% 3.25% Single Pay 25
2015-16 3.25% 40% 3.25% Regular Pay 5 9
2015-16 3.25% 3.25% Regular Pay 10 14
2015-16 3.25% 3.25% Regular Pay 15 19
2015-16 3.25% 3.25% Regular Pay 20 24
2015-16 3.25% 3.25% Regular Pay 25
2015-16 3.25% 35% 3.25% Single Pay 5 9
2015-16 3.25% 3.25% Single Pay 10 14
2015-16 3.25% 3.25% Single Pay 15 19
2015-16 3.25% 3.25% Single Pay 20 24
2015-16 3.25% 3.25% Single Pay 25
2015-16 2.85% 2.85% Regular Pay 7 9
2015-16 2.85% 2.85% Regular Pay 10 14
2015-16 2.85% 2.85% Regular Pay 15 19
2015-16 2.85% 2.85% Regular Pay 20 24
2015-16 2.85% 2.85% Regular Pay 25
2015-16 2.75% 2.75% Single Pay 5 9
2015-16 2.75% 2.75% Single Pay 10 14
2015-16 2.75% 2.75% Single Pay 15 19
2015-16 2.75% 2.75% Single Pay 20 24
2015-16 2.75% 2.75% Single Pay 25
2015-16 2.85% 2.85% Regular Pay 15 19
2015-16 2.85% 2.85% Regular Pay 20 24
2015-16 2.85% 2.85% Regular Pay 25
2015-16 2.85% 2.85% Single Pay 15 19
2015-16 2.85% 2.85% Single Pay 20 24
2015-16 2.85% 2.85% Single Pay 25

Bonus explained: For a sum assured of Rs. 100000/-, if the bonus declared is 4.2% or Rs 42/- per thousand, then the amount of Rs 4200/- gets accumulated into the policy for that year.

Who should buy this plan?

  • Minimum and maximum entry ages are: 18 years and 58 years (regular premium)/ 60 years(single premium) and 50 years for endowment with whole life option
  • Minimum sum assured = Rs 75000/-
  • Maximum age at maturity is 65 years and 100 years if endowment whole life option is taken
  • Individuals who are looking for additional source of income which would be helpful for child’s marriage
  • Individuals who want income tax benefits

Riders available with this plan are as follows:-

  • SBI Life - Preferred Term Rider:  Under this rider option an additional lumpsum benefit is paid to the nominee on unfortunate death of the policyholder.
  • SBI Life - Accidental Death Benefit Rider: Under this rider option an additional lumpsum benefit is paid to the nominee on unfortunate accidental death of the policyholder.
  • SBI Life - Accidental Total and Permanent Disability (ATPD) Benefit Rider: If the policyholder becomes permanently disabled due to an accident a lumpsum benefit will be paid to him.

Claim Process

Know Claim Process of SBI Life Shubh Nivesh

Claim Process

Company Overview

SBI Life Insurance Company is a joint venture between State Bank of India and BNP Paribas Assurance, a French Multinational Bank. With its huge banking channel and customer base, SBI Life has soon become one of the top insurers in India. The company offers a wide range of life insurance and pension products at economical prices.

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Get ₹. 50 Lakhs
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₹. 3,900/ Month.

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