36 critical illnesses will be covered
This insurance scheme covers serious diseases. In this scheme, there is a discount in the premium if there are some serious diseases. According to SBI Life, 36 serious diseases will be covered under this policy. Not only this, in addition to this the premium will remain fixed during the entire policy period, that is, you will not have to worry about increasing the premium as inflation increases.
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>> Entry Age: Minimum- 18 years and Maximum- 65 years
>> Maturity Age: Minimum- 28 years and maximum- 75 years
>> Basic Sum Assured: Minimum – Rs 20 Lakh and Maximum – Rs 2.5 Crore
>> Premium Mode: Yearly / Half Yearly / Quarterly
>> In monthly premium mode, up to three months premium will be payable in advanced.
>> Policy Term: 10,15,20,25 and 30 years
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Understand how to benefit in the example
For example, if a male policy holder is 30 years of age and is not an SBI staff, then an annual premium of Rs 35849 will have to be paid for a policy term of 10 years for a cover of Rs 2.5 crore. The condition for this is that the person smokes and is not a resident of Kerala. Even for a female policy holder, premiums have to be paid less than Rs 100 per day. The age of a woman should also be 30 years. In this also, the coverage and policy period are same. At the same time, a premium of Rs 34553 will be made annually.