Key things to know about SBI Life's Grameen Bima:
Eligibility: The minimum age for entry for SBI Life's Grameen Bima insurance is 18 years and maximum is 50 years. The policy term is for a period of 5 years.
Premium: One needs to pay a minimum premium amount of Rs 300 and maximum of Rs 2,000. However, the premium amount has to be in multiples of Rs 100.
Frequency: For SBI Life's Grameen Bima scheme, there is a single premium frequency. However, there is no maturity benefit under this plan.
Sum Assured: The minimum sum assured under the scheme is Rs 10,000 and maximum of Rs 50,000. In different age bands, the assured amount of money differs. In the 18-39 age group, sum assured is 60 times of total premium paid. In the 40-44 age group, sum assured is 40 times of total premium paid. In the 45-50 age group, sum assured is 25 times of total premium paid.