SBI Life Insurance Flexi Smart Insurance Plan
Key Features: | |||||||||||||||||||||||||||||||||||||||
| • | Guaranteed Interest Rate: Guaranteed interest rate of 2.50% p.a., will be guaranteed for the entire policy term. | ||||||||||||||||||||||||||||||||||||||
| • | Interim Interest Rate: An interim interest rate will be declared at the beginning of every financial year, which will be equal to or more than Guaranteed Interest Rate and will be guaranteed for that year. | ||||||||||||||||||||||||||||||||||||||
| • | Additional Interest Rate: An additional interest rate may also be declared, as on 31st March, every year, based on the performance of the Company. | ||||||||||||||||||||||||||||||||||||||
| • | Your policy account will be credited with interim interest rate and additional interest rate, if any | ||||||||||||||||||||||||||||||||||||||
| • | Flexibilities: | ||||||||||||||||||||||||||||||||||||||
| • | Flexibility in premium frequency -> Yearly, Half Yearly, Quarterly and Monthly. | ||||||||||||||||||||||||||||||||||||||
| • | Option of premium holiday during the policy term. | ||||||||||||||||||||||||||||||||||||||
| • | Enjoy complete flexibility to increase or decrease your Sum Assured. | ||||||||||||||||||||||||||||||||||||||
| • | Option to choose sum assured multiplier factor (SAMF). | ||||||||||||||||||||||||||||||||||||||
| • | Option to boost your investments through Top-ups. | ||||||||||||||||||||||||||||||||||||||
| • | Triple Plan Benefit of guaranteed interest rate, additional interest rate and flexibilities. | ||||||||||||||||||||||||||||||||||||||
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| ^All the references to age are age as on last birthday. ***For monthly mode, 3 months premium to be paid in advance and renewal premium payment is allowed only through ECS, Credit card, Direct debit and SI-EFT | |||||||||||||||||||||||||||||||||||||||
| • | On Death | ||||||||||||||||||||||||||||||||||||||
| • | Death benefit is payable only when your policy is inforce. In case of death of the life assured during the policy term, death benefit will be sum of : | ||||||||||||||||||||||||||||||||||||||
| • | Balance of Policy Account at the time of death intimation. | ||||||||||||||||||||||||||||||||||||||
| • | Sum Assured. | ||||||||||||||||||||||||||||||||||||||
| • | In case of death of life assured, when policy is in premium holiday mode, death benefit will be sum of : | ||||||||||||||||||||||||||||||||||||||
| • | Balance of Policy Account at the time of death intimation. | ||||||||||||||||||||||||||||||||||||||
| • | Sum Assured MINUS unpaid risk premium component along with applicable taxes. | ||||||||||||||||||||||||||||||||||||||
| • | In case of minor life assured, if the proposer dies, no benefit will be paid. For the policy to be in force, guardian of the life assured should continue paying premiums. | ||||||||||||||||||||||||||||||||||||||
| • | On Maturity | ||||||||||||||||||||||||||||||||||||||
| • | At maturity we would be declaring terminal interest rate, which will be attached to your balance policy account and will be paid to you as on the date of maturity in lump sum. | ||||||||||||||||||||||||||||||||||||||
| • | Tax Benefits | ||||||||||||||||||||||||||||||||||||||
| • | Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. | ||||||||||||||||||||||||||||||||||||||
| • | Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. | ||||||||||||||||||||||||||||||||||||||
| • | Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.. | ||||||||||||||||||||||||||||||||||||||
| * Interim Interest rate will be declared at the beginning of every Financial Year. Additional Interest Rate may also be declared, as on 31st March, every year. The guarantee is applicable to policies which are inforce and within the revival period. | |||||||||||||||||||||||||||||||||||||||
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale | |||||||||||||||||||||||||||||||||||||||
Brochure
You may download the product brochure from here.