SBI Life Insurance expands product line with two new Child Insurance Plans; empowering parents to financially safeguard child's future

PRNewswire
Mumbai (Maharashtra) [India], March 7: SBI Life Insurance, one of India's most trusted private life insurers, launched two new child products, 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever', specifically curated to empower parents in securing child's future aspiration. The increasing cost of education coupled with evolving career aspiration and rising lifestyle expenses can understandably be unsettling for parents today. Addressing parent's innate need to ensure a fulfilling life for their children regardless of socio-economic challenges, SBI Life's child products offers parents the necessary tool to build a comprehensive financial safeguard for their child.
* Launches 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever', specifically curated to secure child's future aspirations by providing assured financial safeguards
Speaking on the launch, M Anand, President and Chief Distribution Officer, SBI Life Insurance, said, "Every parent, regardless of the socio-economic standing aspires to provide their child with the best opportunities in life, but financial constraints can sometimes pose challenges. At SBI Life, we understand these concerns and are committed to empowering parents, our robust child insurance solutions 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever' are designed to offer both security and financial growth, ensuring that children can confidently pursue their dreams without compromise."
He further added, "As an organization committed to securing lives, we create solutions that not only resonate with the aspirations of families, but also blend protection with the opportunity to build a financial corpus. These new offerings are a step towards financially liberating coming generations, allowing them to chase their dreams and achieve success at every stage of life."
Key features of SBI Life's new child products:
SBI Life - Smart Future Star
* An Individual, Non-Linked, Participating, Life Insurance Savings Product
* Long-term corpus growth through bonuses
* In-built Waiver of Premium benefit on death or Accidental Total Permanent Disability of the proposer, ensuring financial security
* Flexible maturity pay-out options to meet changing financial needs
* SBI Life - Smart Platina Young Achiever
An Individual, Non-Linked, Non-Participating, Life Insurance Savings Product
* Guaranteed maturity benefit, offering financial security for child's education, career aspirations or marriage
* Flexible maturity pay-out options to meet changing financial needs
* In-built Waiver of Premium benefit on death or Accidental Total Permanent Disability of the proposer, ensuring financial security
* Risk-free savings approach, catering to parents who prefer guaranteed returns
Both products reflect SBI Life's commitment to providing innovative financial solutions that align with the evolving needs of customers. These products not only ensure financial preparedness but also offer greater financial independence to children to fulfil their changing aspirations.
For more details, customers can visit the nearest SBI Life branch or follow the link:
SBI Life - Smart Future Star < https://epay.sbilife.co.in/en/individual-life-insurance/child-plans/smart-future-star >
SBI Life - Smart Platina Young Achiever < https://epay.sbilife.co.in/en/individual-life-insurance/child-plans/smart-platina-young-achiever   >
About SBI Life Insurance:
SBI Life Insurance ('SBI Life' / 'The Company'), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.
Serving millions of families across India, SBI Life's diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.
Driven by 'Customer-First' approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike.
SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,086 offices, 25,949 employees, a large and productive network of about 241,251 agents, 77 corporate agents and 14 bancassurance partners with more than 41,000 partner branches, 144 brokers and other insurance marketing firms.
In addition to doing what's right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally.
SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2023-24, the Company touched over 1.05 lakh direct beneficiaries through various CSR interventions.
Listed on the Bombay Stock Exchange ('BSE') and the National Stock Exchange ('NSE'), the company has an authorized capital of Rs 20.0 billion and a paid-up capital of Rs 10.0 billion. The AuM is Rs 4,416.8 billion.
For more information, please visit our website-www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and Linkedin.
(Numbers & data mentioned above are for the period ended December 31, 2024)
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