SBI Life Poorna Suraksha

The SBI Life Poorna Suraksha is a Non-linked Term Insurance Plan with In-built Critical Illness Cover. It comes with the following features:

• Term Insurance Plan with Increasing Critical Illness Cover.
• Premium waiver benefit on diagnosis of Critical Illness.
• Fixed premium throughout the policy term. Note: All information has been sourced from the official website of SBI Life Insurance.

• You get a comprehensive insurance coverage against death and critical illnesses.
• The critical illness cover increases on every policy anniversary while the premiums remains constant.
• This plan automatically adjusts your sum assured between life and critical illness cover on every policy anniversary.
• All future premiums are waived on diagnosis of any of the covered 36 critical illness.
• Fixed premium throughout the policy term.

Life Stage Rebalancing - This feature rebalances cover between Life Cover and Critical Illness (CI) Cover. This is done by splitting the Basic Sum Assured into Life Cover Sum Assured (SA) & CI Sum Assured (SA) in the proportion of 80:20, respectively at the start of the policy. The CI SA increases on every policy anniversary as mentioned below:

Life Cover - In case of death of the policyholder, the Effective Life Cover Sum Assured, as on the date of death will be paid to the nominee. Critical Illness (CI) Benefit - The Effective critical illness Sum Assured is paid on diagnosis of any of the covered critical illness only once. Premium Waiver Benefit - Once the critical illness has been diagnosed, the insurer will waive off all future premiums for the policy. The Life Stage Rebalancing will stop once the future premiums are waived off and the Effective Life Cover SA will remain constant from the period thereon.

Grace Period and Revival Facility - This plan comes with 30 days grace period from the premium due date for yearly and half yearly premium and 15 days for monthly premium. A lapsed policy can only be revived within 2 years from the date of the first unpaid premium, subject to satisfactory proof of insurability as required by the company from time to time. High Sum Assured Rebate - High Sum Assured Discounts are available as rebates:

Free-look Option - In case you disagree with the terms and conditions, you can return the policy stating the reason for objection within 15 days of receipt for policies if sourced through any channel mode other than Distance Marketing and 30 days for electronic policies and policies sourced through Distance Marketing. Premiums paid by you will be refunded after deducting stamp duty and cost of medical expenses incurred. The proportionate risk premium for the period of cover will also be deducted. Who should buy SBI Life Poorna Suraksha Plan? This plan is suitable for anyone who wishes to secure their family against critical illnesses.

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The product details are as follows:

The documents required for this plan are:

The exclusions under this plan are:

• If the life assured commits suicide within 12 months from the date of inception of the policy or from the date of revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the premiums paid, provided the policy is in-force.

Since this plan comes with both - critical illness and life cover, it is highly popular among policyholders. The additional benefit of constant premium throughout the policy term is a lucrative feature which eases the financial burden on the policyholder.