SBI Life – RiNn Raksha, a group credit life insurance plan, you can rest assured that your family will always enjoy the assets, which you so lovingly acquired, without worrying about any liabilities. In other words, live life ’Debt- Free’!
Main Features..!
* Wide variety of loans covered -including Housing Loans, Car Loans, Agricultural Loans, Educational Loans and Personal loans.
* Cover can be availed for a policy term as low as 1 year upto maximum period of 30 years.
* Multiple Premium paying options - Single, 3 years, 4 years, 5 years and 10 years.
* Upto 3 joint borrowers (including primary borrower) can be insured upto 100% of the loan amount.
Product Snapshot..!
Age at Entry : Minimum: 16 years; Maximum: 69 years
Maximum. Age at Maturity ; 70 years (cover would not extend beyond the 71st birthday)
Policy Term ; Minimum: 1 year
Maximum: 30 years
Premium Payment Terms and Policy Terms: Single Premium
Level Premiums:# Premium Paying Term (PPT): 3 years
Policy Term : 5 years to 10 years
# PPT : 4 years
Policy Term :6 years to 15 years
# PPT : 5 years
Policy Term : 8 years to 30 years
# PPT : 10 years
Policy Term ; 15 years to 30 years
PPT should not exceed 2/3rd of the policy term
Sum Assured:
Minimum: Rs. 10,000 per member
Maximum: No Limit
Income Tax Benefits
Under Sec. 80C and Sec. 10(10D) of Income Tax Act,1961
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