Private insurer SBI Life Insurance on 6 August 2015 launched Smart Humsafar, a unique plan which offers multiple benefits of savings and insurance cover for husband and wife under a single policy.
The plan complements the couple's efforts to achieve prosperity along with protection to fulfill their dream of leading a better life.
In case of death of one of the spouses, a payment of sum assured is made to the surviving spouse, in addition to waiver of future premiums. And, in the event of death of surviving spouse during the reminder of the policy term, the nominee gets the sum assured along with all the accrued bonuses.
The basic sum assured with all accrued bonuses will be paid upon survival of any or both lives on maturity.
Smart Humsafar Plan Highlights:
• A Joint life insurance cum savings plan wherein you can take insurance cover for yourself and your spouse under a single policy.
• Guaranteed (Conditions apply#) minimum bonus for first 3 years @ 2.50 percent of the Basic Sum Assured.
• Provides financial protection in the event of death of either or both the lives assured.
• Pays a maturity amount on survival of one or both the lives assured at the end of the policy term.
• Benefits also include premium waiver in case of death of any one of the lives assured for in force policies.
• Additional rider benefit at an affordable cost
• Tax benefits as per prevailing norms under the Income Tax Act, 1961.
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