)
SBI Life Insurance has launched a new product, 'Smart Humsafar', a plan which offers multiple benefits of savings and insurance cover for husband and wife under a single policy.
The product provides financial protection to husband and wife under a single policy. In case of death of one of the spouses, a payment of sum assured is made to the surviving spouse, in addition to waiver of future premiums.
In the event of death of surviving spouse during the reminder of the policy term, the nominee gets the sum assured plus all the accrued bonuses. The basic sum assured with all accrued bonuses will be paid upon survival of any or both lives on maturity.
