Lucknow :

SBI Life Insurance, a trusted private life insurer, felicitated village level entrepreneurs (VLE) in Lucknow region for taking ‘SBI Life – CSC Saral Sanchay’ life insurance plan to the doorstep of rural Uttar Pradesh. This regular premium plan would help consumers to systematically save so as to achieve their future goals in life and at the same time also supports one’s family in achieving those goals in the event of any eventuality.

Speaking on the occasion, Arijit Basu, MD and CEO, SBI Life said, “The village level entrepreneurs have set an example in taking the ‘SBI Life – CSC Saral Sanchay’ plan to the last mile of the rural hinterland. The plan is specifically aimed at the segment of the population who are largely uninsured. With this offering we are trying to give these families a relief by securing the life of their bread earner and help them save to achieve their goals in the near future.”

‘SBI Life – CSC Saral Sanchay’ life insurance plan, which was launched recently by SBI Life Insurance, is an individual, non-linked, non-participating, variable insurance plan that claims to provide a guaranteed interest rate of 1.00 percent per annum, which will be applicable throughout the policy term. In addition, an additional interest rate (AIR) of 4% pa will also be applicable during the first 5 years and an AIR of 0.5% will be applicable from the sixth year. Further, at the end of each policy year starting from the fifth policy year, residual additions may be added.

Any individual between 18- 60 years can purchase this plan from an authorised Common Service Centre (CSC) under the National e-Governance Plan (NeGP) of Government of India. The policy will be issued based on the information provided on their Adhar card and other enrolment details and the plan can be availed for a policy term of 10 years or 15 years.

The plan provides for benefits on death of the life assured or on maturity of the policy. “In addition, it also provides an option of partial withdrawals, which is the flexibility to withdraw a portion of the policy account value from 6th year onwards to cater to liquidity needs. The plan also provides tax benefits as per the prevailing tax laws”, said the company.

source: http://www.timesofindia.indiatimes.com / The Times of India / News Home> City> Lucknow / by Priyanka Singh, TNN / September 03rd, 2015