The plan is catering to the growing consumer demand for guaranteed income and protection
FinTech BizNews Service
Mumbai, 16 December, 2024: SBI Life Insurance, one of India’s most trusted private life insurers, launched ‘SBI Life - Smart Platina Supreme’; a non-linked, non-participating life insurance savings plan that offers seamless combination of protection and guaranteed pay-outs. In today’s uncertain world consumers are increasingly looking out for certainty, this has led to a rising demand for financial instruments that provide guarantee of future income, addressing this need, SBI Life-Smart Platina Supreme provides a customisable life insurance plan coupled with guaranteed future income, which is predetermined by the consumer.
With the current overcast of economic uncertainties there is realisation across all age groups and demographics, on the need to act today to safeguard one’s future financial position. SBI Life- Smart Platina Supreme is, thereby, designed to adapt to the diverse needs across age groups and demographics. The guaranteed income plan ensures long-term stability through its customizable features, such as flexible policy premium payment terms, policy term, pay-out period, level and increasing guaranteed income and a return of 110% of total premiums paid at the end of the pay-out period. The guaranteed savings plan serves as a one-stop solution for individuals looking for assured returns while building a robust financial safety net to fulfil aspirations of self and their loved ones.
Click on the link for more details on the product: https://www.sbilife.co.in/en/individual-life-insurance/traditional/smart-platina-supreme
Highlighting the significance of SBI Life Smart Platina Supreme product launch, Mr. Amit Jhingran, MD & CEO, SBI Life Insurance, said, “In today’s dynamic financial environment, individuals need insurance solutions that offer security, flexibility and above all a robust guarantee of future income to support their aspirations. With our new guaranteed return plan – ‘SBI Life- Smart Platina Supreme’, consumers can confidently plan for realizing life’s key milestones while safeguarding the financial future of their loved ones. This assured savings plan reflects our commitment of making insurance a versatile financial tool across age groups & demographics, offering comprehensive coverage along with guaranteed returns.” He further added, "At SBI Life, we understand that financial aspirations are unique to every individual. The launch of SBI Life’s Smart Platina Supreme is in line with our effort to provide tailored solutions customisable to consumer’s individual needs. It is a testament to our belief in the transformative power of insurance, such new age insurance solutions will play a key role in ensuring long term financial security thereby liberating individuals to pursue their dreams, while simultaneously securing the needs and aspirations of their loved ones."
Key Features of ‘SBI Life - Smart Platina Supreme’:
- Comprehensive coverage: Provides life insurance cover during policy term for financial protection of family
- Flexibility: Offers customizable premium payment terms, policy durations, and income payout frequencies to align with individual’s financial goals
- Additional protection: Option to enhance protection through SBI Life - Accident Benefit Rider
- Enhanced Guaranteed Income for higher premiums
- Maturity Benefit: Maturity benefit in the form of Level or Increasing guaranteed income pay-outs with an option to avail guaranteed income at the beginning or end of the chosen income frequency and return of 110% of total premiums paid at the end of the pay-out period. There is also an option to receive the discounted value of the future benefits (future Guaranteed Income and 110% of Total Premiums Paid), in the form of lumpsum
- Death Benefit: In case of the insured's untimely demise during the policy term, Death benefit will be paid to support the nominee or family
The plan is a valuable financial solution for diverse profiles—whether planning for a child’s education, a secure retirement or simply building a financial cushion for life’s uncertainties, this plan provides a reliable and structured solution. It offers enhanced guaranteed income for higher premium amounts as well as loan against policy. Additional rider such as the SBI Life - Accident Benefit Rider further enhances the product’s protection quotient, emerging as a trusted financial partner for all stages of life.
SBI Life-Smart Platina Supreme reaffirms the company’s promise to deliver its brand purpose of liberating individuals to fulfil their aspirations while taking care of their familial responsibilities, ensuring financial independence and peace of mind to the customers and their loved ones.
