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SBI Life Insurance, on the International Women’s Day, launched ‘SBI Life – Smart Women Advantage’ plan which provides for life cover, savings and female-specific critical illness benefits.
SBI Life has said in a release that It’s a participating individual traditional endowment plan with health concept built into one plan, and also provides optional benefits of additional pregnancy complication, congenital anomalies and child birth related abnormalities, as also other illnesses.
The plan holds tax benefits under section 80D and 80C of the Income Tax Act for premiums paid towards health benefits and life cover respectively under the policy.
SBI said that the plan also includes an in-built premium waiver benefit that would waive all the future premiums in case the life assured is diagnosed with any of the covered major stage critical illnesses.
It added that the plan comes with two basic options, Gold Plan and Platinum Plan.
