Should I Invest in SBI Life Shubh Nivesh Plan?

A wise man once said, “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”

SBI Life Insurance

State Bank of India or SBI is a highly popular and widely approached Indian multinational financial statutory body in the public sector. Owned by the Indian government, the headquarters of SBI is located in Mumbai, Maharashtra.

This banking and finance service body is a high functioning government service body and as of the year 2017, SBI has ranked 216th on the Fortune Global 500’s list of the world’s biggest corporations.

The State Bank of India can be traced back to Bank of Calcutta, founded in the year 1806 through the Imperial Bank of India. This is the record that SBI is the oldest commercial bank in India to operate till this day.

SBI Life Shubh Nivesh Plan

It is one of the many different plans that SBI has to offer to all of its customers and patrons.

The policy is an endowment plan with and added whole clef coverage. This is a sort of traditional plan that comes with additional bonus facilities for the public to avail.

How Does the Plan Work?

When a person opts for the SBI Shubh Nivesh, he or she is required to pay premiums. This premium can be paid in two ways. Firstly, the premium can be paid in lump sum amounts which are available under the single premium option for payment. The other way for payment of premium is in a series of smaller payments of premium over the course of the SBI Life Shubh Nivesh Plan tenure. This option can be found under the option for Regular premium.

The SBI Shubh Nivesh can continue to function even after that for Deferred Maturity or whole life option.

As added benefits, this plan can also at time have Terminal Bonus affiliated by the end of the policy tenure.

Those who wish to take up this policy can choose between two options of this plan.

Endowment Assurance:

Under endowment assurance option, the policy holder is credited with the sum assured along with the reversionary bonus on survival till the end of the tenure of the policy as a maturity benefit. If the policy holder were to die within the tenure of the policy, then the sum would be paid to the nominee as a death benefit.

Whole Life Endowment:

Here the life insurance policy is converted into an endowment cum whole life plan. As a result, among the options available under SBI Shubh Nivesh Plan, the sum assured along with the accrued simple reversionary bonus would be paid the endowment tenure ends but the policy itself would continue to function. Depending on which is easier, a basic sum additionally accrued is paid to the policy holder on his or her survival till the age of 100 years. Either that or the sum is paid to the nominee on the event of the death of the policyholder.

The SBI Life Shubh Nivesh has an attractive option for Deferred Maturity for its potential policy holders. Here potential policy holders can opt for 5 or 10 or even 20 years of Deferred Maturity after completion of maturity.

Also Read: Top 5 SBI Credit Cards in India

Should one Invest in SBI Life Shubh Nivesh?

SBI Shubh Nivesh is definitely an investments option that one should scout of they wish to indulge in the investment market. SBI Shubh Nivesh Plan has numerous benefits that aim to make investment that much easier for people who are looking for life insurance with great scope of sum assured at the time of maturity.

Also, SBI Life Shubh Nivesh has added tax benefits that are received on the premiums that are paid under Section 80 C of the Income Tax Act. These tax benefits can also be applicable on the claims received under Section 10 (10 D) also of the IT Act.

Those who wish to take the advantages of riders can also have such options added to their policies. The SBI Shubh Nivesh Plan has three different rider benefits namely; accidental total and permanent disability benefit rider, accidental death rider and SBI Life preferred term rider.

The premiums of the SBI Life Shubh Nivesh can be as low as 17 rupees per day and can generate a sum assured value of a crore. The flexibility of choosing the mode and option of premium payment rests solely on the policy holder making premium payments easier.

It should be kept in mind that the amount of sum assured depends on the amount of premium and also the term of the policy itself. Albeit, the minimum amount of S.A is seventy five thousand rupees.

Those who are looking for the best endowment policy that allows them to enjoy multiple benefits all under one single plan in order to have a secured future should most definitely invest in SBI Shubh Nivesh. This is an attractive way for wealth generation and especially for fulfilling long term financial goals.

SBI Life Shubh Nivesh does not have a lot of exclusions. The only such exclusion under is in the case of suicide. Id the policy holder were to commit suicide within the first 12 months of the initiation of the policy, then the 80 % of the premium or the higher of acquired surrender value is paid to the nominee mentioned in the policy deed.

Those who are interested in investing in SBI Shubh Nivesh can check out their maturity sum assured and formulate a plan for paying premiums and also decide on the term and tenure of the policy by using online calculators.

Potential policy holders who wish to invest in SBI Life Shubh Nivesh can do so by visiting the State Bank of India web page online or by visiting the nearest SBI branch.

Pone should always consult a financial advisor before investing in any investment plans to ensure that the investment yield the best results.

Even so, the SBI Shubh Nivesh Plan is an investment option that is worth investment for those who wish to generate wealth and create a financial support for themselves and their family.

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About FinanceGAB

Ajeet Sharma is a financial blogger and I am blogging since 2017. Financegab is a personal blog dedicated to personal finance. The main aim of this blog to help people to make well-informed financial decisions.
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