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SBI Life Insurance has withdrawn its single premium policy, Sukhjeevan. This policy offered guaranteed tax-free returns on investment and protection for the family. The policy was targeted at the 18-65 age group, and the sum assured ranged from Rs 10,000 to Rs 1 crore. For instance, a 10-year policy offered a guaranteed return of Rs 70 per annum per Rs 1,000 sum assured. There was also a maturity bonus of Rs 100 per thousand sum assured on the final due date. But with falling interest rates, such commitments may be difficult to maintain, and is probably the reason behind the policy being withdrawn.

BL Research Bureau

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