March 5, 2013

SBI Life Insurance Smart Money Back Insurance Plan

Introduction
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Smart Money Back Insurance is a savings plan with added advantage of life cover and cash inflow at regular intervals. It is participating traditional money back plan, meeting your various financial obligations at crucial junctures by its wide range of policy terms.

Key Features:

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Money Back options specially tailored to suite your requirements

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Fixed cash inflows which can meet your various financial obligations

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Survival Benefit of 110% to 125% of Sum Assured paid till maturity

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Large Sum Assured discount

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Customize your coverage through the wide range of additional benefits - SBI Life - Accidental Death Benefit Rider (UIN:111B015V01), SBI Life - Accidental Total & Permanent Disability Rider (UIN:111B016V1), SBI Life - Preferred Term Rider (UIN: 111B014V01), and SBI Life - Criti Care 13 Non Linked Rider (UIN:111B025V01).

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Given below are the charts with various term options and accompanying

Survival Payments:

Survival Benefit Installments (% of Basic Sum Assured)
Options	Term / Year End (years)	4	5	8	10	12	15	20	25	Total (% of Basic Sum Assured)
Option 1	12	20%		25%		65% + Vested Bonus				110%
Option 2	15		20%		25%		70% + Vested Bonus			115%
Option 3	20		10%		20%		30%	60% + Vested Bonus		120%
Option 4	25		10%		10%		15%	30%	60% + Vested Bonus	125%

Product Snapshot

Age^ at Entry

Plan Options	Option 1 - Term 12 years	Option 2 - Term 15 years	Option 3 - Term 20 years	Option 4 - Term 25 years
Min. entry age	14 years	14 years	14 years	14 years
Max. entry age	58 years	55 years	50 years	45 years

Age^ at Maturity

Min: 26 years

Max: 70 years

Sum Assured

Min: Rs.75,000/- ( x 1,000/-)

Max: No Limit

Policy Term

Option 1	Option 2	Option 3	Option 4
12 years	15 years	20 years	25 years

Premium Paying Term

Same as policy term

Premium Frequency

Yearly / Half-yearly / Quarterly / Monthly^#

Premium

Min
Yearly -	Rs.4,500
Half-yearly -	Rs. 2,400
Quarterly -	Rs.1,200
Monthly^# -	Rs.400

Max

No limit

^ All the references to age are age as on last birthday. ^# 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card]

Benefits

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On survival:

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Before maturity: The survival benefit installments expressed as a fixed percentage of basic sum assured payable at the end of specified durations during the policy term, as explained above.

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At maturity: Final survival benefit installment + Vested simple reversionary bonus + Terminal bonus, if any.

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On Death:

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Basic Sum Assured + Vested simple reversionary bonus + Terminal bonus, if any.

Tax Benefits:

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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.

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Tax deduction under Section 80 (D) is available for premiums paid towards Criti Care 13 Non Linked Rider.

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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.

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Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Rider Brochures:

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SBI Life - Preferred Term Rider

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SBI Life - Criti Care 13 Non - Linked Rider (UIN:111B025V01)

These are only the brief features of 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 product brochure from here.