“SBI Poorna Suraksha Plan: Boosting your financial immunity” – Shaan

“SBI Poorna Suraksha Plan: Boosting your financial immunity” – Shaan

Playback singer, anchor, music director, and much more, Shaan (Shantanu Mukherjee) has too many features in his hat. Known as the “Golden Voice of India”, “Voice of Paradise”, “Magician of Melody”, and “Voice of Youth”, Shaan has seen the best of what the music industry and Bollywood have to offer.

However, with a profound understanding of how days change, health deteriorates, and that success is a major game of averages, he took a decision – to safeguard his finances.

In the long-run, it is really the financial security which gives a sense of security. And what better way to ensure this than well-designed life insurance. While there are a plethora of life insurances available in the market, it essential to find the right one.

SBI Life offers ‘Poorna Suraksha Plan’ which encompasses the benefits of life and critical illness insurance. Let’s take a look at this insurance in detail below:

What is SBI Poorna Suraksha Plan?

The SBI Life – Poorna Suraksha Plan is predominantly critical illness insurance. It allows you to auto-rebalance both – life and critical illness cover as you get older, for more effective protection. SBI Life Poorna Suraksha Plan is designed to offer you:

  • Security:

With its comprehensive financial protection, it ensures that your loved ones are well taken care of when it comes to finances.

  • Simplicity:

This SBI critical insurance is designed in a way to re-balance your life and critical illness cover on every policy anniversary.

  • Reliability:

Another feature of SBI Poorna Suraksha plan is, it pays out in lump sum. This payment supports you financially in case you are diagnosed with any of the covered 36 critical illnesses as specified by the policy. It also waives all future premiums.

What are the benefits of SBI Poorna Suraksha plan?

Critical Illness (CI) Benefit:

This benefit entails a critical illness sum assured. Here, the critical illness sum assured is paid once you are diagnosed with any of the 36 critical illness, as mentioned by the plan. However, you can avail for the CI benefit only once. This benefit is ceased once the payment is made. The benefit is applicable for the policy year in which the CI has been diagnosed.

Generally, the survival period for this benefit is of 14 days since the date of diagnosis. So, if assured dies within 14 days from the date of diagnosis, you cannot avail for this benefit. Furthermore, the waiting period of SBI Poorna Suraksha Plan is of 90 days. It begins since the commencement of risk or revival, whichever is later. During the waiting period, if the diagnosis of any the covered CI has occurred, then your CI benefit will not be payable to you.

Premium Waiver Benefit:

Once you claim the benefit, and if the company accepts it, then, all future premiums for the policy will be waived off for the rest of the policy term. The starts from the date of diagnosis of the medical condition. However, the remaining benefits of the policy will continue throughout the policy term.

The Life Stage Re-balancing part of the policy process will cease to exist once premiums are waived off. Whereas, the effective critical illnesslife cover will remain constant from thereon.

Tax Benefits:

With the SBI Poorna Suraksha Plan, you are eligible for Income Tax benefits. However, it is crucial that you check the tax exemption criteria frequently, as they are subject to change from time to time.

Given the current times, where uncertain incidences can happen to anyone at any time, staying financially protected is a must.

While Shaan has a healthy lifestyle and a successful career, he too vouches for a financial cover which secures his family and him financially for the future. Click here to know more about SBI Poorna Suraksha Plan.

David Lockhart