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Home > Savings Plans > SBI Life - Money Back

SBI Life - Money Back
(UIN : 111N019V01)

(Product Code : 14)
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Introduction
Key Features
Product Snapshot
Benefits
 
  Introduction:
 
SBI Life – Money Back is a traditional participating savings plan with added advantage of life cover and cash inflow at regular intervals. In order to meet your various financial obligations at crucial junctures, it offers a wide range of terms options with regular payments of Guaranteed Survival benefits made at different durations during the policy term.
 
 Key Features:
 
The plan has a number of money back 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.
In addition to normal death cover, the plan also provides you 4 additional covers
 
 
Product Snapshot:

 
Plans Options
Option 1 10 years
Option 2 15 years
Option 3 20 years
Option 4 25 years
Term
Minimum Policy Term 10 years
Maximum Policy Term 25 years
Premium
Premium Mode Monthly /Quarterly /Half Yearly/Yearly
Age
  Option 1 Option 2 Option 3 Option 4
Minimum Entry Age 15 years 15 years 15 years 15 years
Maximum Entry Age 60 years 55 years 50 years 45 years
Maximum Age at Maturity 70 years
Sum Assured
Minimum Sum Assured Rs 50000/-
Maximum Sum Assured Rs 5 Crores
Riders Available
SBI Life - Dhanavantri Supreme - Individual Critical Illness (CI Rider) (UIN : 111C004V02)
SBI Life - Accidental Death and Permanent Disability (AD & PD ) Rider (UIN: 111C001V01)
SBI Life - Pure Term Rider (UIN: 111B003V01)
SBI Life - Premium Waiver Benefit (PWB) Rider ( Individuals) ( UIN : 111B005V01)

* 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
 
How does it work?

 

SBI Life Money Back is a saving plan with added advantage of life cover and cash inflow at regular intervals. This plan is designed for individuals who want to plan for various financial obligations at specified times in life.
 

 
Term of the Plan Guaranteed Survival Benefit payable Cumulative Guaranteed Survival Benefit
10 Years The last 3 years on the term 110% of Basic Sum Assured
15 Years After every 3 years on the term 115% of Basic Sum Assured
20 Years After every 4 years on the term 120% of Basic Sum Assured
25 Years After every 5 years on the term 125% of Basic Sum Assured
 
Benefits


Death Benefit:

In the unfortunate event of death during the term of the plan, the nominee will receive Sum Assured + Vested Bonuses, (accrued till the date of death),
No deductions are made from the claim amount for the Survival Benefits already paid. Exclusions applicable to the Basic Cover: Suicide within the first year
 
Tax Benefit
SBI Life Money Back Plan enjoys Tax benefit u/s 80C and 10(10D) of IT Act*
Premiums paid for Critical Illness Benefit qualify for tax exemption under Sec 80D*
 

*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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CIN: U99999MH2000PLC129113
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