SBI Life Saral Maha Anand Plan – Features, Review & Returns Calculation

SBI Life saral maha anand plan is a unit linked insurance plan from SBI life where you can choose the life insurance as per your flexibility with minimum or maximum limit. Not only that to get a good return in long run, you can choose from the equity fund, balanced fund or bond fund as per your risk taking ability to get the maximum return from your investment.

In this article, I will be sharing everything about sbi life saral maha anand plan, complete review of sbi life saral maha anand plan, key benefits, maturity & death benefit, how to buy sbi life saral maha anand plan, calculate premium,  various charges, survival benefits, surrender rules and many other information at one place.

SBI Life saral maha anand plan – Features & Benefits

Creating wealth for your future is one of the must personal finance goal of every family.  If you have not started the same, then you should learn why you should build wealth to live a happy life in future. SBI life saral maha anand plan is designed such a way that one can get life insurance benefit and also a high return or moderate return as per the risk profile of investor. Here are the key highlights of this policy in details.

  • One can buy this policy easily without going for any kind of medical examination. Generally there is no need of medical insurance when you buy a ULIP plan but specially for this policy, SBI Life is stressing about this point.
  • If you buy a 20 year policy then you will get a guaranteed addition of 30% of annual premium after completion of the policy term.
  • You can enjoy from 3 fund options which are of 3 risk types to get highest return, moderate return and guaranteed return.
  • Partial withdrawal rules as per the basic ULIP rules only.
  • You will get both the benefit of a life insurance and also a market linked return from a single product which is the key of any ULIP kind of plan.
  • In case unfortunate death, one will get the higher of any 3 of sum assured value or fund value or 105% of the premium paid as death benefit.
  • This policy also has a Accidental Death Benefit Linked Rider which will give you additional benefit in case of death happen due to accident.
  • On survival of the policy tenure, you will get the fund value as maturity benefit.
  • Get income tax exemption for the policy premium paid under section 80C and also the maturity is also tax free under section 10 (10D).

Eligibility of SBI Life Saral Maha Anand Plan

Age at Entry ^Minimum: 18 yearsMaximum: 55 years
Max. Age^ at Maturity65 years
Policy Term10 years / 15 years / 20 years
Premium Range (x100)
Premium FrequencyMinimum (in Rs.)Maximum (in Rs.)
Yearly15,00029,000
Half-yearly9,50014,500
Quarterly5,5007,200
Monthly2,0002,400
Premium ModesYearly / Half-yearly / Quarterly / Monthly
Sum Assured
Minimum (in Rs.)Maximum (in Rs.)
Age below 45 yearsAge 45 years or aboveAge below 45 yearsAge 45 years or above
10 x AP7 x AP20 x AP20 x AP

How To Buy SBI Life Saral Maha Anad Plan

This is not an online ULIP plan from SBI Life. That means you can buy SBI Saral Maha Anand Plan online. You have to visit to your nearest SBI life branch office or ask their insurance agent to contact you and visit your house or office to collect the application document.

Make sure you have gone through all the details of this policy and also how much premium you have to pay using their online calculator. Although the SBI life agent will share each and every details with again. Your SBI life agent will also carry the application form, and other necessary policy document while visiting your place as you have to provide your signature. There are certain documents you have to provide like photo identity proof, address proof etc and you should ask everything while talking to the insurance agent.

So, do you think SBI Life Saral Maha Anand plan is the best policy to build wealth for your future and retirement? I think there could be multiple answers to this question depending up on people. You can definitely go for such policies if you think you are happy to get moderate return. But to get a adequate life insurance, I don’t think this policy is enough. You can buy a term insurance policy as per your need. Share your thoughts and personal experience here by writing a simple comment below so that our readers can be beneficial.

SBI Life Saral Maha Anand Plan – Features, Review & Returns Calculation
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