SBI Life - Grameena Seva

Introduction : The objective of this product is to provide life cover to the deprived sections of the society at affordable costs thereby aiding them tide over difficult times in case of an unforeseen event. SBI Life - Grameen Bima is an individual, pure term, micro-insurance plan for the socially deprived and economically vulnerable segments of the population.
Key Highlights :
•	Choose your premium, correspondingly your life insurance cover will be determined.
•	Prompt Processing & Enrolment
	•	No medical examination, acceptance would be based on satisfactory health declarations in the proposal form
	•	Registration based on a simple form
Eligibility
Age* at entry Minimum: 18 years  Maximum: 50 years Policy Term 5 years Total Premium Amount Minimum: Rs. 300** Maximum: Rs. 2000** Premium amounts will be in multiples of Rs. 100 Premium Frequency Single Sum Assured Minimum: Rs. 10,000 Maximum: Rs. 50,000^ Age Band Sum Assured 18 - 39 60 times Total premium paid 40 - 44 40 times Total premium paid 45 - 50 25 times Total premium paid
* All references to age are age as on last birthday **Total Premium Amounts are inclusive of Service Tax./ Cess/ GST (currently only in case of J&K residents) and/ or any other statutory levy/ duty/ surcharge on your premiums, as notified by the Central and/or State Government from time to time as per the provisions of the prevalent tax laws, ^Aggregate Sum Assured under this plan will be capped at Rs. 50,000 for each life.
Benefits under the plan:
•	Death Benefit
	•	In the unfortunate event of death of the life assured during the policy term, the nominee will receive the Sum Assured.
•	Maturity Benefit
	•	There is no maturity benefit under this plan.
•	Surrender Benefit
	•	Surrender is allowed from 2nd year onwards.
	•	No surrender benefit is payable in the last year of the policy.
		The surrender value paid will be:   Single Premium (exclusive of service tax) x 50% x Unexpired policy term / Total Term 1 Term is measured in completed months. 2 Unexpired term would be the total policy term in months less the completed number of months as on date of surrender.