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Sunday, Oct 12, 2003
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 Investment World - Life Insurance


SBI Life launches assured return policy

SBI Life Insurance Company has launched `Setubandhan', a policy with an assured return of 5 per cent. The product features are:

  • Resident Indians and NRIs between the ages of 18 and 60 can avail of this policy

  • The sum assured starts from Rs 3 lakh and goes up to a maximum of Rs 1 crore in multiples of Rs 50,000 for a term of 5-10 years

  • In case of death of the policy-holder, the nominee will be paid the basic sum assured plus guaranteed addition of 5 per cent on the sum assured annually till the date of death

  • The maturity and death claim benefits can be repatriated in foreign currency

  • In addition to the basic cover, the policyholders can also avail two additional covers — a term insurance cover for one or more dependents living in India and a critical illness rider available to both NRI and dependent.

    BL Research Bureau

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