SBI Life Insurance announced the launch of SBI Life – Poorna Suraksha, a one of its kind plan, which is a non-linked non-participating, term assurance plan, with an inbuilt Critical Illness cover. The policy offers coverage for a wide range of 36 critical illnesses.

The plan helps boost the financial planning by providing Life and Critical Illness cover, which auto re-balances with the evolving needs as the age progresses.

Speaking at the launch of the product, Mr. Ravi Krishnamurthy, President – Zone 1, SBI Life, said, “SBI Life always strives to offer products to its customers that gives them optimal benefits and also takes care of their growing needs. In the initial years of a person’s life, the liabilities like home loans, education loans etc. are on the higher side of the spectrum which requires adequate life cover, but as they progress in life, the liabilities come down but the possibility of Critical Illnesses increases. The plan here very smartly adapts to these changing needs of the customers through its auto re-balancing feature. This product not only fulfils the need of financial security but also helps the insured with health related expenses arising due to critical illnesses.”

In case of detection of the covered critical illnesses, the plan offers waiver of future premiums with continued life cover. This helps the customers to focus on the treatment and recovery from the critical illness.

The plan gives the freedom to choose premium payment term of monthly, half-yearly and yearly, based on policyholders’ convenience. The policy term is of 10, 15, 20, 25 and  30 years based on insurance needs.

Another benefit of this plan is that the premium remains the same throughout the policy term in spite of increasing critical illness cover and increase in age. However, when the critical illness cover increases, the life cover will decrease by an equal amount to accommodate the increase in critical illness cover, such that the total cover remains constant throughout the policy term.

SBI Life – Poorna Suraksha also gives policyholders the benefit of claiming the critical illness sum assured independent of any other health insurance as a lump-sum benefit which will be paid irrespective of the actual bill amount. It will also provide Tax benefits under Sec 80C and Sec 80D, in accordance with the prevailing tax laws.


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