SBI Life Insurance 50000 Per Year

SBI life insurance 50 000 per year

SBI Life Insurance is one of the Most Reputated and Trusted Insurance Brand in India with a Claim Settelment Ratio of 95.03%. SBI Life Insurance provides a Variety of Insurance Policies such as SBI Life Insurance 50 000 Per Year Plan, SBI Life Smart Wealth Builder Plan, SBI Life Smart Wealth Assure Plan, SBI Life Smart Scholar, Plan SBI Life Smart Power Insurance Plan, SBI Life eWealth Insurance Plan and so more.

As Seen above SBI offers a variety of Life Insurance Policy but in the today’s article we are going to discuss about Sbi’s one of the trending Insurance Plan i.e., SBI Life Insurance 50,000 Plan or SBI Life Insurance 50000 Plan or SBI Smart platina assure.

So Now Without Wasting Our Time let’s Dive in deep to our today’s Topic:

about SBI Life Insurance 50 000 Per Year

SBI Life Insurance 50,000 Per Year

SBI Life Insurance 50 000 Per Year Plan is a Contract in which the policyholder or the policy buyer is offered a financial coverage by the Insurance Company (SBI Life Insurance) in exchange for a payment of premium on a regular interval. In this Plan the PolicyHolder has 2 variety of plan of different maturity years i.e., 12 Years & 15 Years.

In SBI Life Insurance 50,000 Per Year Plan the PolicyHolder has to pay a premium of 50000 in monthly or Anual Basis for 6 to 7 Years (As Per the policy) & after the maturity plan the PolicyBuyer will get the Maturity amount.

How Much Amount You Will Pay and Receive

As there are Two Plans under SBI Life Insurance 50 000 Per Year i.e., 12 Years Plan and 15 Years Plan.

In the 12 Years Plan You have to Pay 6 Installments on the Yearly Basis which means 1 Installment every Year. Here in the First Year You have to Pay a amount of 50,000 + Tax = 52,250. From then Next Year to the Sixth Year you have to pay a annual amount of 50,000 + 1126 = 51,126. In this Plan You will Receive Rs. 4,64,625 as Maturity Benifit or Rs. 5,00,000 as Death Benifit. In Simple Words it means that you will get Rs. 1,90,000 approx as Profit on your SBI Life Insurance 50 000 Per Year Policy or SBI Smart platina assure.

Now in the 15 Years Plan, The PolicyHolder has to Pay 7 Installments on the Yearly Basis which means 1 Installment every Year. Here in the First Year You have to Pay a amount of 50,000 + 2,250 = 52,250. From then Next Year to the Seventh Year you have to pay a annual amount of 50,000 + 1126 = 51,126. In this Plan You will Receive Rs. 6,40,500 as Maturity Benifit or Rs. 5,00,000 as Death Benifit. In Simple Words it means that you will get Rs. 2,81,416 approx as Profit on your SBI Life Insurance 50 000 Per Year Policy or SBI Smart platina assure.

Features of SBI Life Insurance 50,000 Per Year Plan

The Following are some of the important features of SBI Life Insurance 50,000 Per Year Policy:

  • With this SBILife Insurance Policy the PolicyHolder will get Life cover along with Assured return
  • Enjoy Guaranteed Additions^ of 5.25% to 5.75% at the end of each policy year
  • The PolicyHolder needs to Pay for just 6 or 7 years and enjoy the benefit throughout the policy term of 12 or 15 years respectively
  • The PolicyHolder or the Policy Buyer has a full choice to choose his convenience premium payment either it is Monthly Basis or Yearly Basis.
  • The PolicyHolders can get tax benefits* as per the prevailing norms under the Income Tax Act, 1961.

Benefits offered under SBI Life Insurance 50000 per year

SBI Life Insurance 50 000 Per Year
  • Security
    Financial protection that ensures your family’s security in the event of the death of the Life Assured.
  • Flexibility
    Monthly and yearly payment options for added convenience.
  • Simplicity
    Provides you with an easy application process for hassle-free issuance.
  • Reliability
    Guaranteed Additions^ based on the annualized premium, at the end of each policy year
  • Guaranteed Additions
    Guaranteed additions as per the table below are added at a rate on the sum of the annualized premiums ^^ paid till date, at the end of each policy year for in-force policies.
    Guaranteed addition amount = Rate of Guaranteed additions X cumulative premiums paid excluding applicable taxes, underwriting extra premiums and loading for the modal premium.
Annualized Premium less than Rs. 1,00,000Annualized Premium greater than or equal to Rs. 1,00,000
5.25%5.75%

^^ Annualized premium shall be premium payable in a year chosen by the policyholder, excluding applicable taxes underwriting extra premiums and loadings for modal premiums, if any..

Tax Implication on SBI Life Insurance Policy

On The Sbi Life Insurance 50,000 Per Year Plan You can avail tax benefits on payment of premium under Sec 80C of Indian Income Tax Act 1961. Tax benefits are as per Income Tax Laws & are subject to change from time to time. (Please consult your Tax advisor for details). PolicyHolders can 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. For further details click here. Please consult your tax advisor for details.

Other Details of SBI Life Insurance 50,000 Per Year Plan

Entry AgeMinimum 3 Years and Maximum 60 Years
Maximum Maturity Age75 Years
Policy TermTwo Terms available – 12 & 15 Years
Premium Payment Term / PPT6 Years for Policy Term of 12 Years & 7 Years for Policy Term of 15 Years
Premium FrequencyMonthly and Annualy Both are available
Annualized PremiumMinimum – 50k / 50,000 INR and Maximum – No Limit
Basic Sum AssuredMinimum Rs 2,40,000
Maximum No Limit (Board Approved underwriting policy)

In Short – SBI Life Insurance 50 000 Per Year

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Frequently Asked Questions

What is the Maturity Year of SBI Life Insurance 50,000 Per Year Plan?

The SBI Life Insurance 50 000 Per Year Plan is having 2 Maturity Year that are 12 Years and 15 Years.

What’s the Anual Premium amount of SBI Life Insurance 50 000 Per Year Policy?

The Anual Premium amount of SBI Life Insurance 50 000 Per Year Policy for the First Year is Rs 52,250 (Included Tax of Rs 2,250) and from the Next Year the Insurance Premium amount is 51,216 (Included Tax of 1,216).

What is the Death Benifit amount in te SBI Life Insurance 50 000 Per Year Plan?

The Dealth Benifit amount for Both of the Insurance Policy (12 Years Plan and 15 years Plan) is Same that is 5,00,000 / 5 Lacks.

Disclaimer: Before Buying the SBI Life Insurance 50 000 Per Year Policy, the Customer should research well and don’t trust on a single source. As the Info can be old or under update. So Please compromise 🙂

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