SBI Life launches 'Shubh Nivesh'

It has been designed to meet the savings, protection and income needs of customers having risk-averse profile, the company said. 

The product is available in two options: in Endowment Assurance option andWhole Life Endowment option,In the first one the accrued bonus and the sum assured amount is payable during an unfortunate event of death during the endowment term or on survival at the end of term. In the later one an amount equivalent to Sum Assured is payable on an unfortunate event of death even after the completion of endowment term or on survival till age 100 years.  Catering to the income needs arising out changing life stages, Shubh Nivesh also presents a feature of “Deferred Maturity Payment Options”. This option enables customer to withdraw the sum assured component as income, at the end of endowment term.