SHUBH NIVESH

SBI Life Shubh Nivesh Premium Details

Choose to stay protected for life.

  • Add-on benefit of whole life insurance
  • Optional Benefit of Regular flow of income
  • Three rider options

Individual,Non- linked,participating life insurance savings product

Have you started building a financial corpus to support the life of your dreams?

Now avail insurance coverage and kick-start your wealth creation journey through systematic savings. SBI Life – Shubh Nivesh, an Individual, Non-linked, participating life insurance savings product, which provides insurance cover, savings and income under a single plan.

This savings plan offers –

  • Security – ensure your family is financially secure
  • Reliability – with simple reversionary bonuses throughout the policy term
  • Flexibility – through two plan options and option to receive regular income over a period of 5/10/15/20 years
  • Affordability – through rider benefits at an affordable cost

Maturity Benefit:

Depending upon the plan option chosen:

Endowment Option

  • After completion of endowment term, the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, provided the policy is in-force
  • Deferred Maturity Payment option is available: Can be selected at the end of the endowment term

Endowment with Whole Life Option

  • After completion of endowment term the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, provided the policy is in-force
  • On attainment of 100 years of age: Additional  Basic Sum Assured will be paid
  • Deferred Maturity Payment option is available: Can be selected at the end of the endowment term

Death Benefit:

In the unfortunate death of the Life Assured, depending upon the plan option chosen:Endowment Option:

  • Before the completion of endowment term provided the policy is in-force :

For Regular Premium: Higher of (A,B) is paid to the nominee /beneficiary/legal heir, where:

  • A. Sum Assured on death +Vested Simple Reversionary Bonuses +Terminal bonus, if any.

 Where the Sum assured on death is higher of Basic Sum Assured or 10 times of annualized$ premium.Where, $annualized premium is the premium payable in a year, chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

  • B. 105% of  the total premiums recieved@ up to the date of death.

@Total premiums paid/ received means total of all the premiums received, excluding any extra premium, rider premium and taxes.

For Single Premium: Sum Assured on death +Vested Simple Reversionary Bonuses + Terminal bonus, if any, is paid to the nominee/beneficiary/legal heir.Where the Sum assured on death is higher of Basic Sum Assured or 1.25 times of single premium.

Endowment with Whole Life Option

  • Before the completion of endowment term provided the policy is in-force:
    • Death Benefit as defined under point 1 of Endowment option, will be paid to the nominee/Beneficiary/Legal heir.
  • After completion of the endowment term, If whole life option is selected :
    • Basic Sum Assured benefit will be paid to the nominee/beneficiary/legal heir.

Other Benefits


Deferred Maturity Payment Option:
You can use this option to get income at regular intervals. At the end of the endowment term you can either withdraw the full basic sum assured along with accumulated bonuses or you can withdraw only the bonus, leaving the basic sum assured to be drawn as income at regular intervals over a stipulated time period of 5 , 10 , 15 or 20 years. Income will be paid at a frequency (Yearly/Half-Yearly/Quarterly/Monthly) of your choice.

Three Rider Options: –
SBI Life – Preferred Term Rider (UIN: 111B014V02): In the unfortunate event of death, the rider Sum Assured will be paid in addition to the death benefit under the base policy.
SBI Life – Accidental Death Benefit Rider (UIN: 111B015V03): In case death due to an accident, the rider Sum Assured will be paid in additon to the death benefit under the base policy.
SBI Life – Accidental Total and Permanent Disability Benefit Rider (UIN 111B016V03): Accidents are unpredictable. They may lead to total and permanent disability and this rider provides protection against such disabilities. In the unfortunate event of ATPD, the rider sum assured is paid but the policy and other benefits continue.

On payment of premiums, base covers and rider cover continue till the end of the term as chosen by you.

**Assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates after considering all applicable charges. The bonus rates are assumed constant during the bonus accrual period, where as actual bonus could vary, depending on the investment experience of the Company. These are not guaranteed and they are not higher or lower limits of returns. Returns are dependent on a number of factors including future investment performance.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
For more details on riders, terms and conditions, please read rider brochure.

*Tax Benefits:
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details here. Please consult your tax advisor for details.