SBI SBI Life taps into the increased insurance awareness, launches the power packed ‘Smart Future Choices’ savings product
SBI Life Insurance, one of most trusted private life insurers in the country, announced the launch of a power packed 'SBI Life - Smart Future Choices’ savings product. Tapping into the rising consumer awareness on the need for insurance, the individual, non-linked, participating life insurance savings plan empowers consumers with the ‘Power to Choose’ various options and benefits as per their changing needs from time to time throughout the policy term.
SBI Life’s- ‘Smart Future Choices’ aims to allow consumers to select options like choosing the premium amount, term policy or premium payment term along with the capacity to review the features of the life insurance plan as per their changing needs and requirements.
The plan provides a unique opportunity to choose benefit pay-outs in lump sum or flexibly.
One can also avail regular cash bonus and pay-outs as per their evolving requirements. This "DIY" nature of the product essentially caters to specific requirements of millennials who do not want to remain confined to product benefits opted in past but look for freedom to choose benefits during policy term or at maturity thereby filling this intrinsic need which existed in life insurance market.
Commenting on the launch of SBI Life- Smart Future Choices’, Mr. Ravindra Kumar, President, Zone III, SBI Life Insurance said, “Our recent survey on ‘Understanding consumer attitude towards Financial Immunity’, highlights how individual concerns regarding financial security is on the rise. Consumer’s top worry revolves around protection, covering oneself and choosing the right insurance plan. While consumers are looking for security, they are also demanding a certain sense of control over what they choose, especially in terms of their finances. Driven by this consumer insight, our new product offering provides multitude of choices, SBI Life – Smart Future Choices product can provide pay-outs at regular intervals but at the same time, offers the choice of saving for future use, giving options between regular intervals based pay-outs or deferred pay-outs.”
In tandem with their customer-centric approach, SBI Life through ‘Smart Future Choices’ seeks to give its consumers the autonomy to shape their life insurance policy as per their needs, right from the very start of the policy and throughout their policy term too, enabling them to effectively carve their future plans.
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