SBI Life Nidhi Raksha RP:

The SBI Life Nidhi Raksha RP is a very prestigious plan which provides you with the twin benefit of safeguarding your savings as well as providing a platform for making it grow.  This plan works in such a way that your money will grow even after your death.

By buying SBI Life – Nidhi Raksha RP,
If you buy this plan, you will receive a life cover starting from one year to a limit of ten years.  You should not have crossed the age of seventy years if you wish to buy this policy.

According to this plan, the minimum sum assured is a fixed amount of rupees five thousand annually.  There is no fixed limit for the maximum sum assured amount.

When you buy this plan you will receive a certificate of insurance, and it clearly states there at any time during the scheme, what benefits you are entitled to.  So, in other words you can say that the terms of this plan is like an open book.

This insurance is available at a low cost but provides the facility for security of your savings.  Since this is a group scheme, some may wonder if each individual will be able to have a beneficiary. 

This is true, even though this is a group scheme; each individual involved in this scheme is allowed to choose one beneficiary for them, so that in any event, the beneficiary can enjoy the returns.

If you want to become a member of this scheme you are not required to undergo any kind of complicated process.  The formalities that you have to undergo to become a member are very easy and fast. You are guaranteed interesting discounts through this scheme.

SBI’s Life Nidhi Raksha RP is one of its kinds and since it involves a group of people who are more or less in the same occupation, it is a very understanding and beneficial scheme where each individual actively participates in the goings on of the scheme. 

This is a very positive point, since this makes it a transparent scheme and you know what your rights and benefits are.