Wealth is something that every person desires; the desire does not arise due to any unholy greed for power or money as it is shown on the silver screen. Rather the desire to accumulate wealth arises from the human emotions and the desire to live a happy life. Wealth means security; security from an uncertain future and security against all the calamities that you and your family may have to face down the road. Wealth also ensures that you maintain a standard lifestyle and provide the best care to your near and dear ones. Because of all these reasons and various others, the people work hard every day of their life to earn money; to accumulate wealth.
But sometimes accumulating wealth is not enough; you also need to ensure that your money or the value of assets is increasing at a sustainable rate. And this process of enhancing the wealth is as important as accumulating it. So first you need to understand what ways you have to enhance your wealth. Most of the people buy bonds or invest in the share market or make another type of investments to ensure that their wealth is multiplying. But there are certain risks in it. The financial market is highly volatile and that is why it asserts some risks on your wealth. Though it is true that investments can multiply your wealth but it is also true the risks of losing your money are also very high. Hence, the best thing you can do is to invest your money in the wealth insurance plan that SBI Life Insurance Company has brought for you.
The SBI Life- eWealth Insurance is an online non participating unit linked insurance plan designed to fulfil all the financial needs of the policyholders while providing maximum life coverage. And it also ensures that your wealth increases sustainably with time. Moreover, the plan has a special AAA feature which allocates your assets to safer funds thereby protecting it from the volatilities of the market but giving it the opportunity to grow sustainably. The plans also have special life coverage features, hence if something happens to you in the future then your family will never have to face financial doom along with the great loss they have faced by losing you.
Key Features of SBI Life – EWealth Insurance
- The plan has a special feature called the Automatic Asset Allocation or AAA feature. It is the best part of the SBI life eWealth insurance since it allocates your assets to safer funds thereby protecting it from the volatilities of the market but giving it the opportunity to grow sustainably. Moreover, it also lets you to manage your investment without any hassles at a complete ease.
- The SBI Life eWealth insurance has two plan options which let you choose the perfect one for yourself so that you can ensure the maximum safety and security to your financial life. The two options that the SBI Life eWealth insurance offers are Growth and Balanced insurance policies. And they both have different features which cater to different needs of different policyholders.
- The premiums that you need to pay for this insurance policy are as low as 10,000 for the yearly payment mode whereas the lowest premium rate for the monthly payment mode is 1,000. Therefore, you can pay the premiums at ease without compromising with your financial requirements.
- There are no premium allocation charges in this plan. Therefore, you can be absolutely sure that your funds will only growth with the advent of time.
- The plan can be availed very easily and all the processes of availing the SBI Life eWealth insurance can be done online. It includes three easy steps which you can easily complete while sitting on your couch and enjoying some tea. You will not be burdened with tonnes of paperwork; just few clicks on your computer screen and you will become the policyholder.
- The plan offers you with twin benefits. Yes, with SBI Life eWealth insurance policy you will be able to get double bonanza which will include both life insurance cover as well as returns upon your fund from the market.
- You will also be able to get liquidity through the process of partial withdrawals. But that can only be done after the completion of the sixth year of the policy.
- And last but not the least; with the SBI Life eWealth insurance policy, you will be able to get major tax benefits. As per the norms cited in the section 80C and 10D of the Income tax act of 1961, you will get major tax exemptions.
Benefits of SBI Life eWealth Insurance policy:
- Maturity Benefit: If the policyholder successfully survives through the entire policy tenure and pays the premiums in time without any dues then the entire fund value along with the added bonuses and the returns from the financial market will be paid to the policyholder as the maturity benefit. Here, you must notice that all the premiums have to be cleared before the maturity of the policy.
- Death Benefit: Life is very uncertain and anything can happen in life at anytime. If anything unfortunate happens to the policyholder then the nominee will receive an amount equal to the 105 percent of all the premiums paid till the time of the death of the policyholder. Here, you must notice one thing that the insured event must occur within the tenure of the policy.
- Tax Benefit: You will also be able to enjoy tax benefits from the SBI Life eWealth Insurance policy. As per the norms cited in the section 80C and 10D of the Income tax act of 1961, you will get major tax exemptions.
- The minimum age of entry is 18years whereas the maximum is 50
- The maximum age at maturity is 60 years
- The policy tenure can vary from 10 to 20 years
- The maximum amount that can be assured is 10 times of the annual premium paid in total
Everybody wants their future to be financially protected and also want to ensure the same for their families and loved ones. The SBI Life eWealth Insurance policy lets you do that both with a superficial efficiency and with an extreme ease.