SBI Life Insurance Saral Life Plan

Introduction

:

SBI Life Insurance Saral Life Plan, a traditional, participating endowment plan which helps you to meet any requirement in life and is designed with a difference…a take away insurance especially weaved for you with the threads of Simplicity, Availability & value for your money.

Key Features:

 

An unique savings cum insurance cover with easy acceptance.
Enrolment based on Simplified Questionnaire and Good Health Declaration.
Instant Processing.
Flexibility in Coverage – Sum Assured in options of Rs.1 lakh / Rs.2 lakhs / Rs.3 lakhs.
Customize you coverage period by choosing from 10/15/20/25 years, as per your requirement.
Tax benefits as per prevailing norms under the Income Tax Act, 1961.

Product Snapshot

Age at Entry** Min: 18 years Max: 60 years
Age at Maturity Max : 70 years
Policy Term 10/15/20/25 years
Premium Payment Term Same as Policy Term
Premium Modes Yearly / Half-yearly / Quarterly / Monthly***
Sum Assured Rs. 1 lakh/ Rs. 2 lakhs/ Rs. 3 lakhs
** 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

Benefits:

Maturity Benefit:- On survival of the life assured, till the policy term, the Sum Assured along with the accrued regular bonus and terminal bonus (if any) is payable.
Death Benefit:- In case of unfortunate demise of the life assured within the policy term, the Sum Assured along with the accrued regular bonus and terminal bonus (if any) is payable to the nominee.
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..
These are only summary of the product features. 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.

Premium Calculator

You may also calculate online premium for this plan as per your age, S.A. etc. from here.

SBI Life Insurance Shubh Nivesh Plan


Introduction

:SBI Life – Shubh Nivesh is an Endowment product with an option of Whole Life coverage.  The basic purpose is to provide Savings, Income and Insurance Cover to you and your family. Not only you can save regularly for your future but you also have the flexibility to receive the maturity amount as a lump sum or as a regular income for a chosen period, depending upon your needs.


Key Features:

 

A unique Savings cum Insurance Plan with the flexibility of Whole Life option as an add-on
Triple benefits of Wealth Creation, Regular Income and Insurance Cover under a single plan
Convenience of premium payment options – Single Premium and Regular Premium
Comprehensive risk coverage through 3 Riders:
SBI Life – Preferred Term Rider (UIN:111B014V01)
SBI Life – Accidental Death Benefit Rider (UIN:111B015V01)
SBI Life – Accidental Total & Permanent Disability Rider (UIN:111B016V01)
Option to receive the Basic Sum Assured at regular interval over a stipulated time period of 5/10/15/20 years.
Tax benefits as per prevailing norms under the Income Tax Act, 1961

How does it work?

SBI Life – Shubh Nivesh has two options:Endowment Assurance: The base plan is a traditional endowment plan with simple reversionary bonuses which accrue till the end of the endowment term. The sum assured with all accrued bonuses will be paid on death during the endowment term or survival till the end of the endowment term.Whole Life Endowment: The policyholder has to opt for the Whole Life Endowment option at the proposal stage itself, wherein the sum assured along with the accrued bonus till the end of the endowment term will be paid to the policyholder, and an amount equal to the basic sum assured will be paid on the life assured attaining 100 years of age or on the death of the life assured, if earlier.


Benefits:

Maturity Benefit: Depending upon the plan option chosen:
Endowment Assurance (i.e. if Whole Life option is not taken):
After completion of endowment term, the Basic Sum Assured + vested Simple Reversionary Bonus is paid
If Deferred Maturity Payment option has been chosen, the accrued bonus will be paid on the date of maturity and the policyholder may choose to receive the sum assured in regular installments over the next 5/10/15/20 years.
Whole Life Endowment (i.e. Whole Life option is taken):
After completion of endowment term the Basic Sum Assured + vested Simple Reversionary Bonus is paid.
If, Deferred Maturity Payment option has been chosen, the accrued bonus will be paid on the date of maturity and the policyholder may choose to receive the sum assured in regular installments over the next 5/10/15/20 years.
An amount equal to the basic sum assured will be paid on the life assured attaining 100 years of age.
Death Benefit: In the unfortunate death of the Life Assured, depending upon the plan option chosen:
Endowment Assurance (i.e. if Whole Life option is not taken):
Death before the completion of Endowment term: Sum Assured + Simple Reversionary Bonus (if any) is paid to the nominee
Deferred Maturity Payment Option has been availed and death happens after the completion of Endowment term: The Balance amount of the Deferred Maturity Payment Option, if any would continue to be paid to the legal heirs till the end of the stipulated period as chosen
Whole Life Endowment (i.e. if Whole Life option is taken) :
Death before the completion of Endowment term:
Sum Assured + Simple Reversionary Bonus (if any) is paid to the nominee
Death after the completion of the endowment term up to 100 years of age:
Sum Assured under the Whole Life coverage is paid to the nominee.
If deferred Maturity Payment Option has been availed and death happens after the completion of Endowment term but before the receipt of the final installment under the deferred payment option, the basic sum assured under the Whole Life coverage is paid to the nominee and the balance amount of the Deferred Maturity Payment Option, if any would continue to be paid to the nominee till the end of the stipulated period as chosen
Other Benefits
Deferred Maturity Payment Option: You have the option to avail the sum assured as regular payouts over a stipulated period of 5/10/15/20 years. The amount of regular income payable will be quoted based on the rates available at that time
Three sets of riders: –
SBI Life – Preferred Term Rider (UIN:111B014V01): The Preferred Term rider Sum Assured is payable in addition to normal death benefit
SBI Life – Accidental Death Benefit Rider (UIN:111B015V01): In case death due to an accident, the rider Sum Assured is payable in addition to normal death benefit
SBI Life – Accidental Total and Permanent & Disability Rider (UIN:111B016V01): The rider Sum Assured will be paid on the Life Assured being found eligible for the Total Permanent Disability Benefit as defined in the policy document.

Shubh Nivesh at a Glance:

Minimum Maximum
Entry Age 18 years 60 years
Maturity Age 23 years 65 years
Policy Term 5 years 30 years
Sum Assured Rs.75,000 No limit

Mode of Premium Payment: Yearly, Half-Yearly, Quarterly, Monthly & Single Premium

* 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

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..

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.


Brochures:

You may download product official brochure from here and SBI Life – Preferred Term Rider Brochure from here.

 

 

Benefit Illustration

You may see a calculate benefit illustration from here.

 

SBI Life Insurance Sanjeevan Supreme Plan


Introduction

:

SBI Life Insurance Sanjeevan Supreme Plan is a traditional Saving Plan with added advantage of life cover and guaranteed cash inflow at regular intervals tailored to suit all your needs and requirements. This plan is designed for individuals who want to plan for various financial obligations at specified times in life. It provides you with financial support for fulfilling all your long term and short term goals. Further, it offers you a life cover for the term of your choice and that too without burdening you premium payment for the entire term.

Key Features:

The plan has a number of moneyback options specially suited to your needs.
The cover is available at competitive premium rates.
It has guaranteed cash inflows which can meet your various financial obligations.

Product Snapshot

Plans Options
Plan A, Plan B,  Plan C,  Plan D
Term
Plan A Plan B Plan C Plan D
Premium Payment Term ( PPT) 6 years 6 years 10 years 10 years
Growth / Deferment Period 4 years 4 years 5 years 5 years
Money Back Period 5 years @ 20% Sum Assured p.a. 10 years @ 10% Sum Assured p.a. 5 years @ 20% Sum Assured p.a. 10 years @ 10% Sum Assured p.a.
Total Term of the Policy 15 years 20 years 20 years 25 years
Premium
Premium Payment Mode Yearly / Half Yearly / Quarterly / Monthly** / Single Premium
Age*
Minimum Entry Age 18 years 18 years 18 years 18 years
Maximum Entry Age 60 years 55 years 55 years 50 years
Sum Assured
Minimum Sum Assured Rs 50000/-
Maximum Sum Assured Rs 5 Crores
Riders Available
SBI Life – Accidental Death and Permanent Disability Rider: (UIN: 111C001V01)
SBI Life – Pure Term rider: (UIN: 111B003V01)
* 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
 

Benefits:

 

You can pay off all premiums over a short period of time and be free from paying premiums for the rest of the policy term, while enjoying all the benefits for the entire policy term.
Enjoy the benefits of bonus additions for the entire term of the policy.
Convenient premium payment options: Single and Multiple premium payment.
Maturity Benefit
At the end of the growth period, you would receive guaranteed payout in 5 years or 10 years, depending on the plan option chosen by you. The bonuses declared by the company get accumulated for the entire term of the plan and you would receive total bonus along with the final installment of Survival benefit.
Death Benefit
In the unfortunate event of death during the term of the plan, the nominee would receive sum assured + vested bonuses, besides receiving of the survival benefit already paid.
Exclusions applicable to the Basic cover
Suicide within the first year.
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..
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

You may calculate the premium of this plan from here.

SBI Life Insurance Flexi Smart Insurance Plan

Introduction

:SBI Life – Flexi Smart Insurance, an Individual, Non-Participating traditional life insurance cum savings plan, which helps you in fulfilling all your dreams. It gives you flexibility to adapt to your ever-changing needs, while assuring guaranteed benefits to take care of your savings.

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.
 

Product Snapshot:

Age^ at Entry Min: 8 years Max: 60 years
Age^ at Maturity Max: 70 years
Sum Assured Min: Annualized Premium × 10 Max: Annualized Premium × 20
Policy Term 10 to 20 years (both inclusive)
Premium Paying Term Same as policy term
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly***
Premium Amounts
Min
Yearly – Rs 15,000 (X 100)*
Half-yearly – Rs   8,500 (X 100)*
Quarterly – Rs   4,500 (X 50)*
Monthly – Rs   1,500 (X 50)*
*In case of mode change it may be in multiples of Re 1
Max
No limit
No limit
No limit
No limit
Top-up Premium Rs.2,000 (X 100)
At any point of time during the policy term, the total top-up premium paid shall not exceed the sum total of regular premiums paid at that point of time
^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
 

Benefits:

 

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.

SBI Life Insurance Smart Money Back Insurance Plan

Introduction

:

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:


Money Back options specially tailored to suite your requirements
Fixed cash inflows which can meet your various financial obligations
Survival Benefit of 110% to 125% of Sum Assured paid till maturity
Large Sum Assured discount
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).
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
No limit
No limit
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

On survival:
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.
At maturity: Final survival benefit installment + Vested simple reversionary bonus + Terminal bonus, if any.
On Death:
Basic Sum Assured + Vested simple reversionary bonus + Terminal bonus, if any.
 

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

Rider Brochures:

SBI Life – Preferred Term Rider
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.

SBI Life Life Insurance Smart Income Protect Plan

SBI Life Insurance Smart Income Protect Plan is a savings plan with added advantage of life cover and regular cash inflow at the time you need. It is a participating traditional plan where you continue to pay your regular premiums over a period of 5, 10 or 15 years. Thereafter your payout period starts, where you get guaranteed regular annual payouts over a period of 15 years, meeting your various financial obligations.

Key Features:

Plan that provides Insurance Cover and Regular Income.
Choose your policy term from 5, 10 or 15 years.
Guaranteed annual payouts* (conditions apply) of 11% of Sum Assured/Paid up Sum Assured over a period of 15 years after maturity. The first instalment will be paid at the end of first year during the payout period.
Vested Reversionary bonuses plus Terminal bonus, if any, will be paid as lump sum at the end of the policy term, at maturity.
Customize your coverage through the wide range of additional rider benefits – SBI Life – Accidental Death benefit rider (UIN: 111B015V01), SBI Life – Accidental Total & Permanent Disability benefit rider (UIN: 111B016V01), SBI Life – Criti Care 13 Non Linked Rider (UIN: 111B025V01), SBI Life – Preferred Term Rider (UIN 111B014V01).
* Provided at Maturity, the policy is in force or paid-up.

Product Snapshot:

Age^ at Entry Min: 8 years Max: 60 years
Age^ at Maturity Min: 18 years Max: 65 years
Sum Assured Min: Rs.1,00,000/- (× 1,000/-) Max:  No Limit
Policy Term 5/10/15 years
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly#
Payout Period 15 years
Payout Frequency Yearly
^ 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:

On Maturity:
Maturity Benefit as lump sum: You get vested reversionary bonuses plus terminal bonus, if any, at maturity.
Maturity Benefit in Instalments: You will be paid yearly payouts equal to 11% of basic Sum Assured for next 15 years after maturity. This period of 15 years is your payout period. The first instalment will be paid at the end of first year during the payout period.
On Death:
In the unfortunate event of death of life assured during the policy term, the nominee will receive Basic sum assured plus vested reversionary bonuses plus terminal bonus, if any.
In case of death during the payout period, all future payouts will be paid to the nominee or legal heir in lump sum immediately.
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 deduction under Section 80(D) is available for premiums paid towards Criti Care 13 Non Linked Rider.
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.

 

 

Product Brochure

You may download the brochure from here

 

Rider Brochures: