SBI Life Insurance, propelled a new Smart Power Insurance plan last day. The product is constructed with the aim of taking care of investor’s dual needs of investment as well as insurance. The Smart Power Insurance plan is quite flexible and simple. It allows the policy holder to flexibly increase the policy amount over a period of time with increase in his income. The plan would be available to the customers from the 7th of October, 2013. Insurance plan consists of two options, which include increasing cover option and level cover option.
The Smart Power Insurance plan comes with two different fund options. These two options are trigger funds option and smart fund option. These two options are also switchable in nature and can be switched during the policy term to the maximum of two times. The former option has the benefit of purchasing low and selling higher. The benefit on the latter is that one may choose from among seven funds.