SBI Life Grameen Bima (SBI Life Rural Insurance)
SBI Life Grameen Bima offered by SBI Life is an Individual, Non-Linked, Non-Participating, Microinsurance term insurance product.
SBI Life Rural Insurance is brought by SBI Life for individuals who have low income. Through this term insurance even low income individuals can get the benefits of term insurance at very affordable premiums.
SBI Life Gramin Bima Yojana is valid for a period of 5 years and has a minimum sum assured of Rs10,000 and a maximum of Rs50,000. You do not need any kind of medical examination for this insurance plan. You can avail this life cover with the payment of a lump sum premium.
Features Of SBI Life Gramin Bima
Features of SBI Life Grameen Bima are as follows-
- SBI Life Gramin Bima is available with one time premium payment.
- You do not need any kind of medical examination to take this term plan.
- SBI Life Gramin Bima term insurance plan is available for a tenure of 5 years.
- This term insurance plan is available to you for a minimum premium of 300 and a maximum of Rs 2000. Its premium is in multiples of Rs 100. You can choose any premium amount as per your convenience.
- In this time insurance plan, you get minimum sum assured of Rs 10,000 and maximum sum assured of Rs.50,000.
- Free-look period is also provided in this plan. In this, if you are not satisfied with this policy within 15 days, then you can choose to opt out of the policy.
- Read Also Benefits of Term Insurance
Benefits Of SBI Life Gramin Bima
Following are the benefits of SBI Life Grameen Bima :
- Death Benefits:
SBI Life Rural Insurance offers death benefit in case of death of the policyholder. If the policyholder dies during the policy term, the death benefit is provided to the nominee by the policyholder.
- Maturity Benefits:
SBI Life Gramin Bima is a term insurance plan. In this you are not provided any kind of maturity benefit.
- Tax Benefits:
With SBI Life Rural Insurance, you can also avail tax benefits under the Income Tax Act. You are eligible to avail tax benefits on the premium paid under Section 80C of the Income Tax Act, 1961.
SBI Life Rural Insurance Eligibility
SBI Life Grameen Bima Eligibility is as follows-
| PARAMETER | ELIGIBILITY DETAILS |
| Plan type | Non-linked, Pure Term Plan |
| Minimum Entry Age | 18 Years |
| Maximum Entry Age | 50 Years |
| Policy Term | 50 Years |
| Sum Assured | Minimum: Rs. 10,000; Maximum: Rs. 50,000 |
| Premium Amount | Minimum Premium Amount: Rs. 300, Maximum Premium Amount: Rs. 2000 |
| Premium Frequency | Single Premium |
Documents Required For SBI Life Rural Insurance
The following are the documents required for taking SBI Life Grameen Bima :
1. Identity proof (any one of the following):
- Aadhar card,
- PAN card,
- Passport,
- driving license.
2. Address Proof (Any one of the following):
- Aadhar card,
- Passport,
- driving license.
SBI Life Rural Insurance Premium
The premium paid for SBI Life Gramin Bima is in multiples of Rs100. You can choose any premium amount for this term plan from a minimum premium of Rs.300 to a maximum premium of Rs. 2000 as per your convenience.
- Minimum Premium Amount: Rs. 300,
- Maximum Premium Amount: Rs. 2000
How To Buy SBI Life Rural Insurance?
You can easily buy an SBI Life Rural Insurance. You can buy it online and offline through any medium as per your convenience.
To buy SBI Life Rural Insurance through online mode, you have to visit the official website of SBI Life. You can buy this term plan whenever you want from the official website of SBI Life.
To buy this term plan through offline mode, you will have to visit the nearest bank branch of SBI Bank. You can buy SBI Life Rural Insurance by visiting the bank branch. You can also buy this term plum offline through a bank representative.