State Bank of India (SBI) Life Insurance on Monday launched the 'SBI Life - Flexi Smart Plus' insurance plan. The product is designed to protect and cater to the saving needs of multiple customer segments with low risk. Announcing the launch of this product, Atanu Sen, MD and CEO of SBI Life Insurance, said, "Our focus has always been on addressing customer needs. Hence, our ranges of products are not only innovative and simple, but also meet the financial or protection needs of our customers."
Flexi Smart Plus has two protection options ­-gold option, which gives higher of policy account value; platinum option which gives higher of policy account value plus sum assured.
Flexi Smart Plus offers a minimum bonus interest rate which is guaranteed for the entire policy term. In addition to this, a non-zero positive regular bonus interest rate will be declared at the end of each financial year on March 31, which will not be less than the interim bonus interest rate.