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SBI Life Sampoorna Suraksha Plan
SBI Life - Sampoorn Cancer Suraksha helps you to secure your family fi ...Read More
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About SBI Life Sampoorna Suraksha Plan
A quick read on what this SBI Term Insurance term plan covers and why it might be a fit for you.
In an unpredictable world safeguarding yourself and your family's future against any serious disease or forbidden threat of critical illness, such as cancer is of utmost importance. Introducing SBI Life Sampoorna Cancer Suraksha a term insurance plan diligently designed to offer you and your loved ones financial security and peace of mind during difficult times. This term insurance plan is not just another cancer policy, it shields you against various stages of cancer diagnosis, including Carcinoma in Situ (CIS), Early Stage Cancer, Major-Stage Cancer, and even formidable advanced-stage cancer. Let's embark on a journey of this insurance policy that promises to safeguard your well-being and your family's future.
To get a better understanding of this plan, let's study more about its benefits, and eligibility criteria in detail.
SBI Life Sampoorna Cancer Suraksha Plan offers you a range of benefits including:
- Cover All Stages of Cancer
- Add-on Riders
- Tax Benefits As Per Laws
- Reset Benefit
- Staged Lump Sum Payouts
- In built Premium Waiver Benefit
Eligibility Criteria for SBI Life Sampoorna Suraksha Plan
Entry age
Minimum Age - 16 years Maximum Age - 79 years
Maturity age
Maximum Maturity Age - 80 years
Policy term
Minimum term - 5 years Maximum term - 30 years
Sum assured
Basic Sum Assured: INR 10,000 per member to no limit
Policy loan
The policy loan is not available under SBI Life Sampoorna Cancer Suraksha Plan.
Payment Modes
Half Yearly, Quarterly, and Monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Cover All Stages of Cancer
- Staged Lump Sum Payouts
- Reset Benefit
Cons
- No Policy Loan
- No Surrender Benefit
- No Maturity Benefit
Video reviews
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
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Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - ₹10L
Maximum Maturity Age - 75 Yrs
Premium Payment Term - RP
How Does SBI Life Cancer Sampoorna Suraksha Plan Work?
Let's understand how the SBI Life Cancer Sampoorna Suraksha Plan works with a simple premium illustration.
Problem
Mr Anuv, aged 25 years, is looking for a protection plan that offers cancer coverage because his family has a family medical history of cancer.
Solution
His financial advisor advised him to buy the SBI Life Cancer Sampoorna Suraksha Plan Work. He visited PolicyX.com.
Let's understand how the SBI Life Cancer Sampoorna Suraksha Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 25 years | ₹1,218/month | ₹14,616/year | 30 years | ₹4,38,480 | ₹50 Lakhs |
Key Takeaways: If he is diagnosed with minor cancer, he'll receive a lump sum payout of 30% of the sum assured amount. All his future premiums till the end of the policy term will be waived, and the policy will continue till the policy term. On diagnosis of any major stage cancer, he'll receive a lump sum payout of the balance of 100% of the sum assured amount.
Riders Associated with SBI Life Cancer Sampoorna Suraksha Plan
You can add the following riders to your SBI Life Cancer Sampoorna Suraksha Plan:
SBI Life Accidental Death Benefit Rider
Accidental Death Benefits Riders provide an additional sum if the policyholder dies within 120 days of the accident.
SBI Life Accidental Total and Permanent Disability Rider
Accidental Total and Permanent Disability Rider covers the policyholder if any accident occurs that leads to the permanent disability of the policyholder.
Features of SBI Life Sampoorna Suraksha Plan
Key features that make SBI Life Sampoorna Suraksha Plan stand out.
Staged LumpSum Payouts
Depending on the benefits structure chosen, you can receive up to 150% of the sum-assured payouts. This provides financial support at different stages of cancer diagnosis.
Reset Benefit
After 3 years of any major, minor or advanced cancer claim, within the policy term and subject to no further diagnosis of any stage of cancer using the same period, the full sum assured will be restored.
Second MedicalOpinion
Cancer is a malicious disease, that can turn the life of an individual upside down if diagnosed. So it is very important to take a second medical advice in order to be double sure, before going for any further medical procedure.
Tax Benefits
With this plan, policyholders can avail the tax benefit on the premium amount as per the prevailing rules under the Income Tax Act of 1961.
Benefits of SBI Life Sampoorna Suraksha Plan
Here are the key benefits of the SBI Life Sampoorna Suraksha Plan.
Minor Stage Cancer
30% of the sum assured is paid, and the policyholder can claim CIS and Early Stage Cancer Benefit during the policy term, up to a maximum of 60% of the sum assured. Future premiums are waived.
Major Stage Cancer
The remaining 100% of the sum assured is payable after deducting any benefits paid earlier for Minor stage cancer. Future premiums are waived. The policyholder can choose a monthly income benefit for 3 years.
Advanced StageCancer
150% of the sum assured is payable and if any benefits are paid earlier it is deducted.
Sum AssuredReset Benefit
The insured can restore the sum assured after 3 years from a valid minor and major cancer claim, provided no further cancer diagnosis occurs during this period. This benefit is available once during the policy term and is applicable after the advanced-stage cancer claim.
High SumAssured Discount
Discount on large Sum Assured are available as discounts on the tabular premium based on the different slabs.
Exclusions of SBI Life Cancer Sampoorna Suraksha Plan
Here is the list of exclusions associated with the plan:
- Any cancer resulting from self-inflicted injuries or suicide attempts within a specific time frame (usually within the first policy year) may not be covered.
- If the policyholder is diagnosed with cancer within the waiting period, it is not covered.
- If the policyholder provides incorrect information during the application process, leading to misrepresentation or non-disclosure of relevant medical history, this may lead to claim denials.
- Death due to any pre-existing disease that isn't mentioned during the start of the policy.
- If a policyholder commits suicide within first 12 months of purchasing the policy, then no death benefits are paid to their nominee.
Conclusion
SBI Life Cancer Sampoorna Suraksha is a comprehensive plan designed to offer financial security against various stages of cancer. With stages of lump-sum payouts and additional benefits, it provides essential coverage for policyholders at their families. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.
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SBI Life Sampoorna Cancer Suraksha: FAQs
The 3 most-asked questions about SBI Life Sampoorna Suraksha Plan, answered.
This plan covers various stages of cancer, including Carcinoma In Situ(CIS), Early Stage Cancer, major-stage cancer, and advanced-stage cancer.
Eligibility depends on your health condition, age, and pre-existing conditions that might affect the coverage.
The age of entry of this plan is between 18 -65 years
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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