SBI Life Insurance Gaurav Jeevan Plan

SBI Life Insurance introduces “SBI Life – Gaurav Jeevan” for Central Government / State Governments/ Government Enterprises and their agencies who wish to purchase their annuity liability (existing or emerging or both) in respect of the annuity payments for compensation to the land owners whose lands are being acquired.

This product will enable you to transfer your annuity liability; which in turn is taken care by our in-house investment expertise and an investment approach best suited to the nature of the liability. This protects you from deficits due to adverse changes in demographic or economic scenario in the future.

 

 

Key Features:

 

 

Flexible annuity term
Flexible options with Income Protection on Death
Attractive annuity rates
Simple Joining process
 

 

Product Snapshot:

 

Age at Entry:
Min : 18 years / Max : 85 years as on last birthday
Group Size:
Min : 50 members
Max: No Limit
Annuity Term :
5 years to 35 years
Modes for Annuity Payments:
You will have an option to choose Yearly, Half-yearly, Quarterly and Monthly modes for payment of annuity benefit.
Annuity amount:
Min Amount:  Rs. 100
Max Amount: No Limit
 

 

What are the annuity options available?

 

 

You can select one of the below mentioned two options:
Level temporary annuity with income protection on death
Increasing temporary annuity with income protection on death

SBI life Insurance Swarna Jeevan Plan

SBI Life Insurance introduces “SBI Life – Swarna Jeevan” a Group Immediate Annuity Plan for Corporate Clients (ie.Employer-Employee groups) and other Group Administrators, who wish to purchase annuity to provide for their annuity liability (existing or emerging or both) totally/partially from SBI Life

The annuity payment to members starts right away (Technically, anytime within 12 months of Purchase depending upon periodicity chosen). All you need to do is choose the annuity option. We at SBI Life will calculate the amount of each annuity payments based on the purchase amount and life expectancy.

 

 

Key Features: 

 

Attractive Annuity rates due to group effect.
Based on your scheme rules customized annuity options available
Wide choice of annuity Options to suit your members needs
Option to choose the periodicity of annuity payment: Annual, Half yearly, Quarterly, and Monthly.
 

 

Eligibility Criteria:

 

 

Age at Entry:
For Member : 35 to 85 Years as on last birthday
For Spouse : 18 to 85 Years as on last birthday
Group Size
Min : 10 Members* or 50 Members
Max : No Limit
Minimum Annuity amount will be Rs. 1,200/- per person per annum.
*For approved Group Superannuation Schemes
 

What are the Annuity Options Available? 

 

 

A variety of Options to choose from:
Single Annuity
Life Annuity:
Life annuity with refund of purchase price:
Life annuity with refund of balance purchase price:
Annuity certain for 5 to 35 years and annuity for life thereafter:
Increasing Life annuity (Simple increasing):
Joint Annuity
Joint life (last survivor) annuity
Joint life (last survivor) annuity with refund of purchase price:
Joint life annuity certain for 5 to 35 years and joint life (last survivor) annuity thereafter:
 

Why SBI Life Insurance?

 

SBI Life Insurance is a joint venture between the State Bank of India and BNP Paribas Assurance. State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate Banks, BNP Paribas Assurance is the insurance arm of BNP Paribas – Euro Zone’s leading Bank. BNP Paribas, part of the worlds top 10 group of banks by market value and part of Europe top 3 banking companies, is one of the oldest foreign banks

 

Important Docs for this plan:

 

Brochure
Member Annuity Form
Generic Benefit Illustration

SBI life Insurance Dhanrashi Plan

Introduction:
With changing times, large numbers of NGOs, Social Welfare Groups including Government aided agencies as well as Corporates have evinced interest to float new schemes that will cost a little but still bring well-being to their group members as well as some security for their lives. Hence, genesis of SBI Life – Dhanrashi!!

SBI Life – Dhanrashi is a traditional non participating Group Savings Linked Insurance scheme. This scheme is applicable for both employer-employee and non-employer employee groups.

 

 

Key Features: 

 

 

Convenient Savings cum Protection Scheme with:
Attractive returns on savings with twin benefits
Protection at low cost with no medical examination.
Hassle free joining process with no entry charges.
 

 

Benefits:

 

 

Maturity benefit
Accumulated Fund Value for the Group Member is payable as per the scheme rules.
Death benefit
Sum Assured plus Accumulated Fund Value for the Group Member is payable as per the scheme rules.
Returns on Investment:Savings component will earn annually compounded returns in two ways:
A minimum Basic Interest rate that is declared in advance for each financial year.
An Additional Investment Return, which will be declared at the end of each financial year, based on earnings on the fund and fund size.
Higher the fund size, higher will be the investment return.
Option to change the Sum Assured:
At the beginning of each policy year, the Master Policyholder may request for a change in sum assured, within the permissible sum assured limits.
Grace Period Provision:
A grace period of 30 days will be allowed for payment of contribution for Regular mode (15 days for Monthly mode).
Revival Period:
2 years revival period will be available, from the first unpaid contribution.
Suicide Exclusion:
No suicide exclusion is applicable for basic life cover.
Surrender Facility:
Master Policyholder can surrender the Master Policy from 2nd Policy year onwards subject to conditions applicable.
Charges:
Our charges are certainly most competitive and are designed to benefit you irrespective of size of your Savings fund. We ensure you pay only for what you benefit — No hidden costs!
 

 

Tax Benefits*: 

 

 

Members’ total contribution, including service tax is entitled for income-tax rebate under Sec 80C of the Income Tax Act.
The entire claim amount, including interest earned, payable on Maturity or on death is free from income-tax (U/s 10(10D) of income tax Act.

The life cover premium paid by the employer towards Life Cover is treated as business expenses (U/s 37 (1)) of income tax Act.


*Tax Laws are subject to change. Please consult to your Legal/ Tax expert for details.

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Generic Benefit Illustrator

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Generic Benefit Illustrator for Formal Groups
Generic Benefit Illustrator for Informal Groups

SBI Life Insurance CapAssure Leave Encashment Scheme

Introduction:
As per the Accounting Standard (AS-15) (revised 2005), it has become necessary for the employers to provide for the accrued liabilities in respect of Leave Encashment benefits available to all the employees in the books of accounts. It helps the employer in ascertaining the true cost of their products and services.Hence, SBI Life provides SBI Life Insurance CapAssure Leave Encashment Scheme – a scheme that not only guarantees your investment but also offers additional funding and many more added benefits…!

SBI Life – CapAssure Leave Encashment Scheme (CA-LE):
It is a Non-Participating yearly renewable traditional group leave encashment scheme. Under this scheme, the contributions paid continue to accumulate on traditional platform of investments and at the end of the financial year, an investment income earned on your contributions is credited to your CA-LE fund account.

 

 

Key Features: 

 

 

 

Capital Guarantee on Fund Under Management
Unique Pooling Fund Advantage: Get higher returns based on aggregated value of all your non-Linked funds
Additional Funding upto 3% to absorb exit penalty charged by the previous insurer
No Suicide Exclusion clause for basic life cover
Additional benefit for your employee through our Group Accidental Death and Permanent Disability Rider (UIN: 111B002V01)
 

 

Benefits:

 

 

On Retirement/ Resignation/ Termination: Accrued Leave Encashment benefits as per scheme rules.
On occurrence of Total Permanent Disability (TPD): Accrued Leave Encashment benefit as per scheme rules + Rider Sum Assured, if any,in case of TPD is due to an accident.
On an unfortunate Death: Accrued Leave Encashment Benefit, as per scheme rules will be payable + Basic Sum Assured as opted for by the master policy holder + Rider Sum Assured, if any, in case death due to accident.
However, maximum benefit under Accidental Death & Total Permanent Disability (AD&TPD) rider will be limited to lower of basic sum assured or Rs. 5 Lacs.
 

Grace Period:

A grace period of 30 days will be allowed for payment of life cover premium.
However, if death occurs during the grace period, the death claim shall become payable subject to the receipt of the due and unpaid risk premium or renewal risk premium for the entire group from the Master Policyholder.

In case of non-receipt of the risk/rider premium within a grace period of 30 days, the life cover/rider would lapse. However, the accumulation of the fund will be continued without life cover/rider and the Leave Encashment claims will be settled subject to the availability of funds.

Revival Period:
Life Cover can be revived within two years from the first due but unpaid premium, subject to payment of risk premium for the future.

Charges:
Our charges are certainly most competitive and are designed to benefit you irrespective of size of your Gratuity fund. We ensure you pay only for what you benefit — No hidden costs! What more….. we ask no Fund Management Charges, no Administration Costs and recovery of Additional Funding is without interest !!!

 

 

Tax Benefits*: 

 

 

The cash equivalent of the leave Encashment Benefit as and when paid by the employer is deductible from his income under section 43B (f) of the Income Tax Act.
For the Employee the leave encashment benefit is taxable under section 15 of the Income Tax Act
However the benefit received by the employee at the time of retirement, gets tax relief as per section 10(10AA) of Income Tax Act, subject to maximum of ten months leave.
The amount of risk premium paid for Life Insurance cover will be treated as business expenses.
*Above tax benefits are as per Income Tax Act, 1961 and Income Tax Rules, 1962. Please consult to your Legal/ Tax expert for details.

SBI Life Insurance CapAssure Gratuity Scheme Plan

Introduction:
Gratuity is a statutory benefit, governed by Payments of Gratuity Act, 1972. As per the Act, gratuity is payable if an employee has rendered minimum 5 years of service at the time of exit. The minimum benefit payable is 15 days salary based on last drawn salary for each service year rendered. However, an employer can better the terms of benefits..Here, the principal concern will be to safeguard and availability of sufficient funds to meet the company’s obligation for statutory Gratuity Payments. Hence, you would definitely want prudent fund management at least of the possible costs. Therefore SBI Life provides SBI Life – CapAssure Gratuity Scheme – a scheme that not only guarantees your investment but also offers additional funding and many more added benefits…!

SBI Life Insurance CapAssure Gratuity Scheme Plan:

It is a Non-Participating yearly renewable traditional Group Gratuity Scheme. Under this scheme, the contributions paid continue to accumulate on traditional platform of investments and at the end of the financial year, an investment income earned on your contributions is credited to your gratuity fund account.

 

 

Key Features: 

 

 

Capital Guarantee on Fund Under Management
Unique Pooling Fund Advantage: Get higher returns based on aggregated value of all your non-Linked funds
Additional Funding upto 3% to absorb exit penalty charged by the previous insurer
Flexibility to transfer partially your fund from this scheme to our existing Unit Linked schemes!
No Suicide Exclusion clause for basic life cover
Additional benefit for your employee through Group Accidental Death and Permanent Disability rider (UIN: 111B002V01)
 

 

Benefits:

 

 

On Retirement/ Resignation/ Termination: Higher of accrued gratuity benefits payable as per scheme rules or the Gratuity Act.
On occurrence of Total Permanent Disability (TPD) : Higher of accrued gratuity benefits payable as per scheme rules or the Gratuity Act + Rider Sum Assured, if any, in case of TPD due to accident, will be payable to the employee.
On an unfortunate Death: Higher of accrued gratuity benefits payable as per scheme rules or the Gratuity Act + Basic Sum Assured as opted for by the master policy holder + Rider Sum Assured, if any, in case of death due to accident.
However, maximum benefit under SBI Life – Accidental Death & Total Permanent Disability (AD&TPD) rider will be limited to lower of basic sum assured or Rs. 5 Lacs.
Grace Period:
A grace period of 30 days will be allowed for payment of life cover premium.
However, if death occurs during the grace period, the death claim shall become payable subject to the receipt of the due and unpaid risk premium or renewal risk premium for the entire group from the Master Policyholder.
In case of non-receipt of the risk/rider premium within a grace period of 30 days, the life cover/rider would lapse. However, the accumulation of the fund will be continued without life cover/rider and the gratuity claims will be settled subject to the availability of funds.Revival
Period:
Life Cover can be revived within two years from the first due but unpaid premium, subject to payment of risk premium for the future.Charges:
Our charges are certainly most competitive and are designed to benefit you irrespective of size of your Gratuity fund. We ensure you pay only for what you benefit — No hidden costs! What more….. we ask no Fund Management Charges, no Administration Costs and recovery of Additional Funding is without interest !!!

 

 

Tax Benefits*:

 

 

For Employer:

The initial and Annual contributions made through an approved Gratuity trust can be claimed as business expenditure as per the provisions under section 36 (1) (v) of the Income Tax Act, 1961 subject to maximum limit of 8.33% of annual salary in respect of each member.
Income of investments is exempt from tax under section 10(25) (iv) of the Act.
For Employee:
Gratuity benefits are tax free up to Rs. 10,00,000 u/s 10(10) in the hands of employee.
Gratuity payment may be bettered by employer – over and above Rs. 10,00,000 taxable. (However, in this case the tax free limit as per above will not change.)
The contribution made by the employer is not included in the value of taxable perquisites in the hands of the employee.
Any death benefit under the Group Term Insurance is tax-exempt under section 10 (10D) of the Income Tax Act, 1961
*Above tax benefits are as per Income Tax Act, 1961 and Income Tax Rules, 1962. Please consult to your Legal/ Tax expert for details.

SBI Life Insurance Kalyan ULIP Plus Plan

Introduction:
Gratuity, Leave Encashment….Savings for Retirement… the must benefits for your employees/ group members….and while deciding on how to manage these sacred funds … you would like to have a strong partner with an effective solution.SBI Life – Kalyan ULIP Plus, is a unique plan for both formal and informal organizations; coming from SBI Life, the name that you always trust, supported by a robust investment team.

SBI Life Insurance Kalyan ULIP Plus Plan is a non-participating, unit linked group insurance scheme. It is truly unique with its variety of features that benefit not only the Master Policyholder but also to each Group Member. This plan is a one-stop solution to all your fund management needs and can be extended to both employer-employee and non-employer-employee groups. You get the flexibility of paying in your contribution at any time during the year according to scheme rules.

What does SBI Life – Kalyan ULIP Plus offer?
A Group ULIP platform to manage your Group funded needs as below

Defined Benefit (DB) scheme 
Defined Contribution (DC) scheme
Any scheme combination of above … because life is never black and white!
 

 

Key Features:

 

 

Loyalty Additions, based on Fund Size!We know how loyalty should be rewarded. Higher the fund size higher will be the Loyalty Additions.
Now chance to earn Guaranteed Returns on your valued investments!
Guarantee Plus Fund offers a minimum guaranteed return on your invested funds. It thus provides you protection from market downturn. The possibility however, of earning a return higher than the minimum guaranteed remains.
Fusion Advantage, for higher benefits! On Request, your entire SBI Life group unit linked master policies, along with your parent company’s will be aggregated for calculating Loyalty Additions.
 Competitive fund management charges in the market
Systematic Transfer Option (STO): Ride smoothly the ups and downs of the capital markets!
Take advantage of this special rupee-cost-averaging technique which minimizes the risk due to market-linked volatility, at absolutely no extra cost..
Optional Life Cover We not just manage your funds but also care for lives of your members. This plan comes with an optional Life Cover of Rs. 1000/- for each member.
 

 

Who can be part of this Scheme?

 

 

Group Members between the age of 18 years and 79 years as on their last birthday
Group Size of 10 and above
Contributions can be made by both Master Policyholder and the Group Members
 

 

Additional Benefits:

 

 

Customised Services:
Dedicated service team as one point of contact
Dedicated operations & Claim department to cater to your operational needs.
Legal advice on trust formation and other related query.
Investment counseling : Conference-calls with our Investment Team
Help in creation of Trust Deeds, Deed of Variations, CIT filing etc.
Monthly investments newsletter to keep our clients abreast with the latest developments
Switching Facility:Manage your investments the way you want by switching your assets between the given fund options, any time.
Contribution Redirection:The contributions can be redirected for investments into a fund of your choice and need not adhere to the initial investment pattern.
Charges:
Transparency is not just a concept but a practice at SBI Life.

Our charges are certainly most competitive and are designed to benefit you irrespective of your fund size. We ensure you pay only for what you benefit — No hidden costs!
 

 

Tax Benefits*: 

 

 

Gratuity:
For Employer:
The contributions made through an approved Gratuity fund may be claimed as business expenditure under section 36 (1)(v) of the Income Tax Act, 1961 subject to the conditions contained therein.
Income on the investments received by an approved Gratuity fund is exempt from tax under Section 10(25)(iv) of the Act.
For Employee:
Gratuity benefits are tax free up to Rs.10,00,000 in the hands of employee.
The contribution made by the employer is not included in the value of taxable perquisites in the hands of the employee.
Any death benefit under life cover is tax-exempt under section 10 (10D) of the Income Tax Act, 1961.
Leave Encashment:
For Employer:
The cash equivalent of the leave Encashment Benefit as and when paid by the employer is deductible from his income under section 43B (f) of the Income Tax Act.
The amount of risk premium paid for Life Insurance cover will be treated as business expenses.
For Employee:
The benefit received by the employee at the time of retirement, gets tax relief as per section 10(10AA) of Income Tax Act, subject to maximum of ten months leave.
*Above tax benefits are as per Income Tax Act, 1961 and Income Tax Rules, 1962 and are subject to change in Tax Laws. Please consult to your Legal/ Tax expert for details.
NOTE ON THE RISK OF INVESTMENT UNDER THIS POLICY
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors.
The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
SBI Life Insurance Co. Ltd. is only the name of the Insurance Company and SBI Life – Kalyan ULIP is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

SBI Life Insurance Hospital Cash Plan

Introduction 

 

Good health is the most valuable asset that we have, but nowadays with increasing levels of stress, negligible physical activity and changing lifestyle our vulnerability to diseases is increasing at an alarming pace.

The cost of healthcare is rising everyday and more than the cost of your treatment, indirect costs like – hospital room rent, nursing expenses, post discharge expenses, recuperating expenses, ambulatory charges etc account for a major part of the overall cost incurred. Lack of sufficient savings or a suitable health policy may force you to compromise on the quality of medical treatment. We feel you certainly deserve better.

SBI Life Insurance Hospital Cash Plan is a comprehensive plan that covers not only hospitalization expenses but also other incidental costs. This plan offers you complete freedom from worries.

 

What is SBI Life – Hospital Cash:

 
This plan helps you keep your savings untouched in case of medical emergencies by paying you a fixed Daily Hospitalization Cash Benefit and an ICU benefit that is twice of daily cash benefit, irrespective of your hospital bill. This amount helps to pay for any kind of expenses incurred before, during or post hospitalization.

We care for you and your loved ones! To aid your family in crisis we provide you with Family Care Benefit feature and family discount benefit.

 

 

Key Features:

 

 

Long term coverage  up to 75 years of age
Premium remains unchanged for 3 years 
Family rebate available to cover your loved ones
No claim bonus available
Coverage of Pre-existing diseases after 2 Policy years
Tax benefit on premium paid under section 80 D of IT Act^.
 

 

Eligibility:

 

 

This policy can be taken for Self /Spouse/Parents/ Parents in-law and dependent children.For children between age of 1 year-17 years to be covered at least one of the parents has to be insured under the same policy.
Minimum age at entry for the proposer on last birthday 18 years
Minimum age at entry For Dependant Child 1 year
For Adult 18 years
Maximum age at entry For Dependant Child 24 years
For Adult 65 years for a new policy
72 years for a renewed policy
Max age at maturity For Dependant Child 27 years
For Adult 75 years
Fixed Policy Term 3 years
Premium modes – Yearly/ Half Yearly/ Quarterly
Note: All ages are as on Last Birthday
Definition of Hospital:
“Hospital is an institution in India established for indoor care, offering allopathic treatment only for sickness and injuries and which is registered as a hospital or nursing home with the appropriate authorities and is under the supervision of a registered and qualified physician, and provides all the following facilities:
– at least 10 inpatient beds
– a fully equipped operation theatre of its own where surgical operations are carried out, and
– fully qualified nursing staff under its employment 24 hours per day, and
– fully qualified physicians in supervision 24 hours per day, and
– maintains a daily medical record for each of its patients.
For the purpose of this policy, the term hospital shall not include any institution which is primarily a rest home or convalescent facility, a place for custodial care, a facility for the aged or alcoholic or drug addicts or for the treatment of psychiatric or mental disorders; even if the institution has been registered as a hospital or nursing home with the appropriate authorities.”

 

 

Scale of Benefits:

 

BENEFITS
Sum Assured per Annum(Rs) 2 Lakhs 3 Lakhs 4 Lakhs 5 Lakhs
Daily Hospitalization Cash Benefit(Rs/day) Rs 2000 Rs 3000 Rs 4000 Rs 5000
Daily ICU Benefit(Rs/day) Rs 4000 Rs 6000 Rs 8000 Rs 10,000
Family Care Benefit(Rs) Rs 10,000 – Lump sum per policy year
 

 

Waiting Period:

 

 

Hospitalization due to any illness within the first 30 days from the date of commencement of the cover or date of joining for a new member in the family policy is not covered except for those arising out of accident(s) which occur during the policy period.
^Tax benefits are subject to change in tax laws.Please consult your tax advisor for details.For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Hospital Cash Claim Process & Forms:
Hospital Cash Claims Process Download
Hospital Cash Policy Booklet Download
Hospital Cash Treating Doctor’s Certificate Download
Hospital Cash Direct Mandate Download
Hospital Cash Claim Form Download

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Brochure

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You may view or download the official brochure of this plan from here.

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Benefit Illustration / Premium Calculator

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You may check the customized benefit illustration of this plan as per your premium, age, S.A. etc. from here.

SBI Life Insurance Group Criti9 Plan

Introduction
SBI Life Insurance Group Criti9 Plan is a traditional non participating Group Health Plan. This plan provides protection against 9 critical illnesses where Sum Assured is paid in lump sum on diagnosis of any one of covered critical illnesses. So provides you money at time when you need it most.
 

 

Key Features:

 

 

Simultaneous safety and protection against 9 Critical Illnesses
Simplified joining process
Guaranteed renewability till 65 years of age
Tax benefit under section 80D of IT Act#, 1961
# Applicable when premiums are paid by the insured members. Subject to change in the tax laws. Please consult your tax advisor for details.
 

 

Critical Illnesses covered:

 

 

Cancer
Heart Attack (Myocardial Infarction)
Stroke
Coronary Artery Bypass Surgery
Kidney Failure (End Stage Renal Disease)
Major Organ Transplant
Coma
Multiple Sclerosis
Heart Valve Surgery
Please refer to the schedule of critical illnesses for further details
 

 

Eligibility:

 

 

This plan is offered to different groups like employee-employer relationship, credit life groups, customers of bank / financial institutions, depositors groups etc. SBI Life will issue a Group Master Policy to the Group Master Policyholder based on details contained in the proposal form. Group Members may be enrolled either on a voluntary or compulsory participation basis as decided by master policyholder.
Group Size:
Minimum 50 members
Age:
Entry from minimum age of 18 yrs till the maximum age of 55 yrs.
Sum Assured:
Sum assured can be selected in the following ways:
Uniform for all members
As a multiples of salary
As grade wise cover
Minimum sum assured is Rs. 25,000/- and maximum sum assured is Rs. 500,000/-.
 

 

Benefits:

 

Sum Assured is payable in one lump sum on diagnosis of any one of covered critical illness provided:

Survival for a period of 30 days after the date of diagnosis
Submission of necessary documents
Waiting Period:The insured member can avail the benefits after 90 days of the date of commencement or date of revival
Other Policy Details:
Nomination is compulsory
Level Premiums payable annually in advance for the cover term.
Cover Term: Minimum of 2 yrs and maximum of 5 yrs
Cover can be renewed till 65 yrs of age subject to max cover term of 5 yrs and premium rates / age are reviewed at the time of renewal.
Grace period of 30 days on annual renewal date
Revival facility is available within 6 months from the first unpaid premium due date

 

Schedule of critical illness

 

Exclusions under the policy

 

Benefit Illustration for Compulsory Group

 

Benefit Illustration for Voluntary Group

SBI Life Insurance Smart Health Insurance Plan

Introduction
We might save for a dream holiday or a dream house but rarely do we set aside money for any medical emergencies. Health emergencies don’t come with a warning and while one may not be able to prevent the emergency, a Health Insurance Plan can protect you or your near ones from part of its costs.

Planning for your health, should be the foremost thing in the financial planning chart of life, as it provides a safety net for your well being. SBI Life Insurance Smart Health Insurance  Plan is one such financial planning tool which takes care of most of your health related expenses. What’s more the plan comes from the SBI Life stable and provides health related benefits.

 

 

Key Features#:

 

 

Fixed Payout based on per day of Hospitalization.
Lump sum payout on all surgical procedures, including non-listed surgeries
136 Day Care treatments, which do not require 24 hours of hospitalization, are covered
Recuperation benefit to take care of your post-hospitalization expenses
Premium remains unchanged during policy term of 5 years
Long term coverage up to 70 years of age
Benefit of claiming from this policy, independently of any other health insurance cover
No Claim Bonus leads to an enhanced Sum Assured for every claim free year
Option to cover all members in the family and get rewarded for the same through family rebate
Renewal discount available
Tax benefit on premium paid under sec 80(D) of Income Tax Act, 1961*
 

 

Benefits:

 

 

Annual Basic Sum Assured (ABSA)
(Rs) / Benefits
1 Lakh 2 Lakhs 3 Lakhs 4 Lakhs 5 Lakhs
Daily Hospital Cash Benefit
(Rs /day) (1% of ABSA)
1000 2000 3000 4000 5000
Daily ICU Benefit
(Rs /day) (2% of ABSA)
2000 4000 6000 8000 10,000
Recuperation Benefit
(Rs /Lump-sum) (2% of ABSA)
2000 4000 6000 8000 10,000
Surgical Benefit (Rs /Lump-sum)
Grade I    (25% of ABSA)
Grade II  (50% of ABSA)
Grade III (75% of ABSA)
Grade IV (100% of ABSA)
25,000
50,000
75,000
1,00,000
50,000
1,00,000
1,50,000
2,00,000
75,000
1,50,000
2,25,000
3,00,000
1,00,000
2,00,000
3,00,000
4,00,000
1,25,000
2,50,000
3,75,000
5,00,000
Non listed Surgical Benefit
(Rs /Lump-sum) (7.5% of ABSA)
7,500 15,000 22,500 30,000 37,500
Day Care Treatment (Rs /Lump-sum)
(10% of ABSA)
10,000 20,000 30,000 40,000 50,000
 

 

Product Snapshot: 

 

Age at Entry** Adult: Min 18 years  /  Max 65 years
Dependent Child: Min 3 months (completed) / Max 22 years
Maximum Age at Maturity Adult: 70 years
Dependent Child: 27 years
Maximum Age at Renewal 65 years
Fixed Policy Term 5 years, renewable thereafter
Premium Frequency Yearly / Half-yearly / Quarterly /Monthly***
Relationships Covered Self/Spouse/ Dependent Children^/ Parents & Parents-in-law
* Tax benefits are subject to change in tax laws. Please consult your Tax advisor for details.
**All the references to age are age as on last birthday.
***For monthly mode 3 months premium to be paid in advance. Renewal premium payment is allowed only though ECS, Credit Card, Direct debit and SI-EFT.
^ For children below 18 yrs, at least one of the parents must be covered under the same Policy
 

 

Definition of Hospital:

 

 

Hospital is an institution in India established for indoor care, offering allopathic treatment only for sickness and injuries and which is registered as a hospital or nursing home with the appropriate authorities and is under the supervision of a registered and qualified physician, and provides all the following facilities:
at least 10 inpatient beds
a fully equipped operation theatre of its own where surgical operations are carried out, and
fully qualified nursing staff under its employment 24 hours per day, and
fully qualified physicians in supervision 24 hours per day, and
maintains a daily medical record for each of its patients.
For the purpose of this policy, the term hospital shall not include any institution which is primarily a rest home or convalescent facility, a place for custodial care, a facility for the aged or alcoholic or drug addicts or for the treatment of psychiatric or mental disorders; even if the institution has been registered as a hospital or nursing home with the appropriate authorities.# The key features are subject to exclusions and terms & conditions under the plan.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

 

Brochure

 

You may view or download the official brochure of this plan from here.

 
Premium Table
You may check the premium table for this plan from here.

 

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SBI Life Insurance Annuity Plus Plan

Introduction:
SBI Life Insurance Annuity Plus Plan, a traditional, non-participating immediate annuity plan, which offers a comprehensive range of annuity options along with inbuilt flexibilities. It provides an opportunity to you to maintain your standard of living.

 

Key Features:

 

 

Complete freedom to choose from a wide range of Annuity options
Enjoy a regular income (“annuity payout”) from an early age of 40 years
You have an option to have Lifetime Annuity payout for you as well as a family member
Flexibility to choose frequency of annuity payouts as per your requirements – Monthly, Quarterly, Half-yearly or Yearly
Incentives of higher annuity rates for large premiums
Option of availing SBI Life- Accidental Death Benefit Rider (UIN:111B015V01)
Flexibility to advance your Annuity payouts
Return of premium options
 

Product Snapshot

 

 

Age Limits* Minimum age at entry : 40 years                
Maximum age at entry: 80 years
Annuity Payout
(per installment)
Minimum :  Monthly: Rs.200, Quarterly: Rs.600,
Half-yearly: Rs.1,200, Yearly: Rs.2,400 
Maximum: 
No limit
Annuity payout mode Monthly, Quarterly, Half-yearly or Yearly
Premium Amounts  Minimum. : Such that the minimum annuity installment can be paid
Maximum.: No Limit
*All references to age are age as on last birthday.
 

Wide Variety Annuity Options available:

 

 

Life Annuity (Single Life): Annuity payout at guaranteed rate, through-out the life of the annuitant. You may choose from following options:
Lifetime Income
Lifetime Income with CapitalRefund
Lifetime Income with Capital1 refund in parts
Lifetime income with Balance Capital2 Refund: Annuity is payable at a constant rate throughout the life. On death, the Balance capital (in case positive) will be paid.
Lifetime income with Annual Increase of 3% or 5%: Annuity payout increases at a simple rate of 3% or 5% p.a. for each complete year and is payable throughout the life of the annuitant. All future annuity payouts cease immediately on death and the contract terminates
Lifetime income with certain period of 5, 10, 15 or 20 years and life thereafter:
Annuity is payable at a constant rate for a minimum fixed period of 5, 10, 15 or 20 years; and for life thereafter.
Life Annuity (Two lives):  The annuity payout will continue at a guaranteed rate, throughout the life of the annuitants. You may choose from below options:
Life and Last Survivor – 50% or 100% Income without Capital Refund
Life and Last Survivor – 50% or 100% Income with Capital Refund
1Capital will mean Premium (excluding service tax and rider premium, if any) under the policy
2Balance Capital = Premium (excluding service tax and rider premium, if any) – Annuity payouts made till date.
 

Benefits: 

 

 

Annuity payable as per the annuity option chosen.SBI Life – Accidental Death Benefit Rider (UIN: 111B015V01)
Age at Entry (as on last birthday):  Min – 40 years, Max – 60 years
Rider Term (fixed): 10 years
Maximum Age at maturity: 70 years
Minimum Sum Assured: Rs. 25,000/-
Maximum Sum Assured: Rs. 50, 00,000/-
Exclusions:
Rider exclusion: Please refer to sales brochure for the Accidental Death Benefit
Rider (UIN: 111B015V01) for details

Tax Benefits:

Tax benefits will be available as per the prevailing tax laws. All annuity payouts may be subject to income tax as per the law prevailing on the date of payout. For specific details, please contact your tax consultant.
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

 

Brochure

 

You may view or download the official brochure of this plan from here.
Benefit Illustration / Premium Calculator
You may check the customized benefit illustration of this plan as per your premium, age, S.A. etc. from here.