SBI Life - RiNn Raksha
(UIN : 111N078V01)

Surrender Value
Special Surrender Value (SSV) is available at any point of time after the first year of cover, provided at least first year’s premiums are paid.

 Grace Period
A grace period of 15 days from premium due date for monthly premium mode and 30 days from the premium due date for annual, half-yearly and quarterly premium modes will be allowed for payment of premiums. If any premium remains unpaid at the end of the grace period, the policy shall lapse.

 Cancellation of Loan Cover
If the loan is cancelled or not taken up by the proposed member after sanction, but the premium for the same has been paid, cancellation of cover may be requested. Such a request must be received at our office within 90 days of issuance of COI. Upon receipt of such a request, SBI Life shall refund 90% of the premium paid excluding taxes and cess, in respect of that member after deducting expenses towards stamp duty.

 Suicide Claim provisions
If the group member / life assured whether sane or insane commits suicide within one year from the date of commencement of the insurance cover for that member the sum assured benefit will not be payable. Only the premiums paid (net of taxes and cess) pertaining to the life assured concerned shall be refunded without interest after deducting the expenses incurred towards stamp duty.