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| IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER |
Introduction
Features of SBI Life – Horizon III Pension
Product Snapshot
Benefits
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Introduction:
Horizon III Pension is a flexible and a hassle free unit linked pension plan with an opportunity for you to get higher market-linked returns. It truly offers you the best of both worlds with the choice of Automatic Asset Allocation or Active Fund Management! To top it all, you can now enjoy the benefits of no premium allocation charges from the 4th policy year along with all the innovative and flexible options that you ever wanted...So go for it now!
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Features of SBI Life – Horizon III Pension:
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Automatic Asset Allocation, through which SBI Life manages your investments on your behalf.
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Option for Active Fund Management, through a choice of 4 diverse fund options
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Enjoy the best of both worlds, by allocating between Automatic Asset allocation and Active Fund Management option.
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Enhanced Fund Value - No Premium Allocation Charges from the 4th policy year
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Freedom to avail of a Pure Pension plan or get added protection with 2 new riders- SBI Life - Criti Care 13 Rider (UIN: 111A018V01) and SBI Life - Income Sustainer Rider (UIN: 111A020V01)
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Twin Benefit of Market linked returns & regular income.
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Enjoy complete flexibility to increase or decrease your premium amount.
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Choice of early or late retirement: Option to alter the vesting age to suit your requirements.
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Investment Flexibility through Switching, Redirection and Top-Ups.
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Product Snapshot
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| Age at Entry* |
Min: 18 years
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Max: 68 years
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| Age at Maturity/Vesting |
Minimum: 40 years Maximum: 75 years
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| Policy Term |
Minimum : 7 years Maximum : 50 years
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| Premium Modes |
Yearly / Half-yearly / Quarterly / Monthly
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| Premium Amounts (X 100) |
Min
Yearly Rs18,000
Half-yearly Rs 9,000
Quarterly Rs 4,500
Monthly Rs 1,500
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Max
No limit
No limit
No limit
No limit
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| Top Up Premium (X 100) |
Min Rs. 5,000
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Max: Cumulative top-ups cannot exceed 100% of the basic regular premium paid till date
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| Investment Options |
Automatic Asset Allocation (AAA)#:
Plan A : Dynamic or Plan B : Growth
(#You may Select Plan A or Plan B, but not both)
Plan C : Flexible Plan:
4 Fund Options: Equity Pension, Balanced Pension, Bond Pension, Index Pension
You may also have a combination with a AAA and Plan C (i.e. partly in Plan A and partly in Plan C or Partly in Plan B and partly in Plan C). Once you select the combination at inception, you cannot change this subsequently.
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| Flexible Options |
Change in Premiums: Increase or Decrease your Premium amounts
Alteration of Vesting Age: Prepone or Postpone your Vesting Age
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| Tax Benefits** |
Under Sec. 80C, Sec. 80D & Sec. 10(10A) iii of Income Tax Act, 1961
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* All the references to age are age as on last birthday.
**Tax benefits are subject to change in tax laws. Please consult your Tax advisor for details.
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Benefits:
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Maturity Benefit:-The fund value payable on maturity/vesting can be utilized as follows: |
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Purchase Annuity Plan for the entire amount.
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Commute up to one third of Fund Value as lump sum and the balance can be used for the purchase of annuity.
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Death Benefit:- |
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In the unfortunate event of death or total permanent disability or critical illness whichever is earlier, the fund value at that time shall be payable.
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Rider Benefits: |
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Criti Care 13 Rider: Provides lump sum amount to take care of 13 Critical Illnesses which include Cancer, Coronary Artery Bypass Graft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis
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Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to Accident or Sickness, whichever is earlier. A 25% of income sustainer benefit sum assured is paid upfront and 1% of income sustainer benefit sum assured is paid monthly in arrears for 10 years or till the end of the base policy term (capped at a maximum of 30 years) whichever is higher.
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| For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. |
