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Home > Unit Linked Plans > SBI Life - Unit Plus™ II Child Plan

SBI Life - Unit Plus™ II Child Plan
(UIN : 111L062V01)

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Mortality Charges for SBI Life – Unit Plus II Child Plan
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
Introduction
Features of SBI Life - Unit Plus II Child Plan
Product Snapshot
Benefits
 
 
Introduction:
 
Life begins afresh when you become a parent. Amidst all the divine happiness, there’s a new sense of responsibility that fills your heart. Like you may not really believe that life’s a rose bed or a tender cushion, but you certainly want it to be for your lovely children. At SBI Life, we understand that. That’s why, we provide you with a unique, flexible and all-encompassing solution through our New and Improved SBI Life – Unit Plus II Child Plan. Our specially crafted Unit Plus II Child Plan is as accommodating as you are to your child.
 
 
Features of SBI Life – Unit Plus II Child Plan:  
 
Dual protection for your family, in case you are not around
In addition, Inbuilt - Accident Cover which includes Accidental Death Benefit and Accidental Total and Permanent Disability (Accidental TPD) Benefit
Free allocation of units by way of Loyalty Units
No Premium Allocation Charge from 6th year onwards, thereby boosting your fund value
Enhanced investment opportunity through 8 varied Fund Options including Index Fund & Top 300 Fund
Twin Benefit of Market linked returns & insurance cover
Flexible options to meet your changing requirement
Option to pay Top-up Premium
Liquidity through Partial Withdrawal
Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions#
 
 
Product Snapshot:
 
Age at Entry* For Parent (Life Assured):
Min: 18 years               Max: 57 years
For Child
Min: 0 years                 Max: 17 years
Age at Maturity For Parent (Life Assured):
Max: 65 years
For Child
Min: 18 years                Max: 25 years
Premium Payment Term 3 yrs to 18 yrs
Annualised Premium Amounts For PPT greater than or equal to 8 years PPT of 3 yrs to 7 yrs
  Min: Rs. 18,000  Min: Rs 50,000
Max: No Limit Max: No Limit
Top-up Min: Rs 2,000                Max: 25% of the Basic Premium                                          paid till date
Policy Term Min: 8 yrs subject to the condition that at maturity, age of child should be at least 18 years.
Max: 25 yrs less Childs Age at Entry
Premium Modes Yearly / Half-yearly / Quarterly / Monthly
Sum Assured Min: 5 * Annualised Premium (AP)
Max:
For Premium Paying Term from 3 yrs to 5 yrs:
10 * Annualised Premium
For Premium Paying Term from 6 yrs to 18 yrs:
For Age 18 – 45 yrs : 20 * Annualised Premium
For Age 46 – 57 yrs : 10 * Annualised Premium

* All the references to age are age as on last birthday.
 

Benefits:
 
Maturity Benefit:
On completion of Policy Term, Fund Value will be paid.
 
Death Benefit:
Sum Assured (net of partial withdrawals) will be paid. Though Inbuilt Waiver Benefit – SBI Life continues to pay your Regular Premium and the Accumulated Fund Value will be paid at Maturity.

In case of Accidental Death or Accidental Total and Permanent Disability, additional benefit equal to Basic Sum Assured will be paid.
 
# 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.

 

 
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