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SBI Life Shubh Nivesh
SBI Life Shubh Nivesh

Shriram New Shri Raksha Plan
Shriram New Shri Raksha Plan



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SBI Life Shubh Nivesh
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Shriram New Shri Raksha Plan

Shubh Nivesh and Shri Raksha

1 Details
1.1 Insurance Provider
SBI Life Insurance
Shriram Life Insurance Company
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
83.72%
Rank: 9 (Overall)
51.21%
Rank: 23 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
89.00%
Rank: 9 (Overall)
67.00%
Rank: 15 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
91.06 %
Rank: 7 (Overall)
67.69 %
Rank: 23 (Overall)
DHFL Pramerica Family Income
1.3 Type
Endowment Plan
Endowment Plan
1.4 Status
In-force
In-force
1.5 Online
23% Endowment Plans Life insurance plans have it !
23% Endowment Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
18 years
Rank: 17 (Overall)
18 years
Rank: 17 (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
60 years
Rank: 18 (Overall)
55 years
Rank: 22 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
65 years
Rank: 32 (Overall)
Not Available
Rank: N/A (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
65 years
Rank: 20 (Overall)
75 years
Rank: 12 (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
7 years
Rank: 5 (Overall)
10 years
Rank: 8 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
30 years
Rank: 17 (Overall)
25 years
Rank: 20 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
₹ 75000
Rank: 26 (Overall)
₹ 150000
Rank: 42 (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Not Applicable
Not Applicable
1.8.3 Max Sum Assured
IDBI Federal Lo..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
No Limit
No Limit
1.9 Group Plan
1% Endowment Plans Life insurance plans have it !
1% Endowment Plans Life insurance plans have it !
1.9.1 Group Type
Not Applicable
Not Applicable
1.9.2 NEE Size
Metlife Group T..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
₹ 6000
Rank: 29 (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Not Applicable
Depends on age, term and Sum Assured chosen
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
No Limit
Not Applicable
2.3 Payment Options
Regular Pay, Single Pay
Limited Pay, Regular Pay
2.4 Regular Modes
Annual, Monthly, Quarterly, Semi-Annual
Annual, Monthly, Quarterly, Semi-Annual
2.5 Top Up
Not Allowed
Not Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
81% Endowment Plans Life insurance plans have it !
81% Endowment Plans Life insurance plans have it !
3.2 Surrender
90% Endowment Plans Life insurance plans have it !
90% Endowment Plans Life insurance plans have it !
3.2.1 Surrender Value
Sum assured will be paid
Not Available
3.3 Benefits
3.3.1 Tax
All Endowment Plans Life insurance plans have it !
All Endowment Plans Life insurance plans have it !
3.3.2 Tax Benefit Amount
Applicable as per Tax Laws
Tax benefits under this plan are available as per the provisions of the Income tax Act.
3.3.3 Service Tax
Not Applicable
Applicable
3.3.4 Maturity
99% Endowment Plans Life insurance plans have it !
99% Endowment Plans Life insurance plans have it !
3.3.5 Maturity Benefit Amount
Sum Assured will be paid
In case of survival of the life assured up to the end of the policy term, reduced paid up sum assured plus accrued Reversionary Bonuses till the policy becomes paid up will be payable to the policy holder.
3.3.6 Death
99% Endowment Plans Life insurance plans have it !
99% Endowment Plans Life insurance plans have it !
3.3.7 Death Benefit Amount
Depends upon the type of plan chosen
Sum assured on death + Reversionary Bonuses + Terminal Bonus. However the death benefit will be at least 105% of all premiums paid till the date of death excluding any extra and rider premiums and taxes.
3.3.8 Annuity
No Endowment Plans Life insurance plans has it !
No Endowment Plans Life insurance plans has it !
3.4 Bonus
Reversionary Bonus, Terminal Bonus
Not Applicable
4 Provisions
4.1 Renewal
72% Endowment Plans Life insurance plans have it !
72% Endowment Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
2 years
Rank: 3 (Overall)
2 years
Rank: 3 (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
57% Endowment Plans Life insurance plans have it !
57% Endowment Plans Life insurance plans have it !
4.2.2 ADBR Description
Available at additional cost
Not Available
4.2.3 Critical Illness
27% Endowment Plans Life insurance plans have it !
27% Endowment Plans Life insurance plans have it !
4.2.4 CI Description
Not Applicable
Not Available
4.2.5 Term Rider
16% Endowment Plans Life insurance plans have it !
16% Endowment Plans Life insurance plans have it !
4.2.6 TR Description
Available at additional cost
Not Applicable
4.2.7 Permanent Disability
22% Endowment Plans Life insurance plans have it !
22% Endowment Plans Life insurance plans have it !
4.2.8 PD Description
Available at additional cost
Not Applicable
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
30 Days
Rank: 1 (Overall)
30 Days
Rank: 1 (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Suicide Clause
Suicide Clause
5.4 Charges
5.4.1 Premium Allocation
4% Endowment Plans Life insurance plans have it !
4% Endowment Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Available
Not Available
5.4.3 Policy Administration
4% Endowment Plans Life insurance plans have it !
4% Endowment Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Available
Not Available
5.4.5 Fund Management
4% Endowment Plans Life insurance plans have it !
4% Endowment Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Available
Not Available
5.4.7 Mortality
5% Endowment Plans Life insurance plans have it !
5% Endowment Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Available
Not Available
5.4.9 Switching
Not Allowed
Not Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Not Allowed
Not Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Not Allowed
Not Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Not Allowed
Not Allowed
5.5.2 Deletion
Not Allowed
Not Allowed
5.6 Medical Examination
77% Endowment Plans Life insurance plans have it !
77% Endowment Plans Life insurance plans have it !

Compare Shubh Nivesh and Shri Raksha

Compare Shubh Nivesh and Shri Raksha on basis of policy details, premium details, eligibility etc. Shubh Nivesh is provided by SBI Life Insurance. Shri Raksha is provided by Shriram Life Insurance Company. Both these policies come under Endowment Plans. Online buying option is not available for first insurance policy and online buying option is not available for second policy.

Minimum entry age for SBI Life Shubh Nivesh is 18 years and maximum entry age for the same policy is 60 years. Similarly for Shriram New Shri Raksha Plan, minimum entry age is 18 years and maximum entry age is 55 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Regular Pay and Single Pay and premium payment option/s for latter policy: Limited Pay and Regular Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.

Benefits of Shubh Nivesh and Shri Raksha

Benefits of Shubh Nivesh and Shri Raksha consist of maturity benefit, tax benefit, death benefit etc. Some SBI Life Shubh Nivesh and Shriram New Shri Raksha Plan Provisions are made for a policy holder. Loan is one such provision. For first plan, a person can apply for loan and second plan provides loan facility. Following are the benefits under these insurance policies.

For SBI Life Shubh Nivesh:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

For SBI Life Shubh Nivesh:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.

Provisions under Shubh Nivesh and Shri Raksha

Provisions under Shubh Nivesh and Shri Raksha mainly include policy renewal and different types of riders. For SBI Life Shubh Nivesh, policy renewal is allowed Policy renewal is allowed for Shriram New Shri Raksha Plan. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is available for first policy and it is available for second policy.Critical illness rider is not available for former policy and it is available for second policy.Term rider is available for first insurance policy and this rider is not available for second policy.

Terms and Conditions For Shubh Nivesh and Shri Raksha

Terms and conditions for Shubh Nivesh and Shri Raksha includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period for these insurance plans is 30 Days. Free look period for these insurance plans is 15 Days.

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