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Introduction
Key Features
Product Snapshot
Benefits
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Introduction:
SBI Life - Smart Shield is a traditional non-participating pure term plan, which is a one stop solution that meets all your insurance needs. With Options and benefits specially tailored for those who want best financial protection at an affordable cost, this is the perfect plan from your preferred insurance provider. Now your family stays protected, even when you are not around.
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Key Features:
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Establishes a solid foundation for a lifetime of financial security for your family at a low cost. |
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Rewards you for maintaining a healthy lifestyle. |
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Wide variety of plan options to give you complete freedom from your liabilities. |
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Large Sum Assured rebates, substantially lowering your cost of insurance. |
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You can also customize your coverage by choosing from a wide range of additional benefits such as – Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider and Accelerated Critical Illness cover option. |
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Tax benefits as per prevailing norms under the Income Tax Act, 1961^.
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Product Snapshot:
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| Plan Options |
| Option I |
Level Term Assurance |
| Option II |
Increasing Term Assurance |
| Option III |
Decreasing Term Assurance(Loan Protection) |
| Option IV |
Decreasing Term Assurance(Family Income Protection) |
| Term |
| Minimum Policy Term |
5 years |
| Maximum Policy Term |
For Option I, II & IV - 30 years
For Option III - Equal to the outstanding loan term subject to maximum of 30 years |
| Premium |
| Minimum Premium |
Single Premium :- Rs. 15,000/-
Regular Premium:-
Yearly: Rs. 5,000/-
Half-Yearly: Rs.2,500/-
Quarterly: Rs.1,250/-
Monthly: Rs. 450/- |
| Premium Mode |
Single/ Yearly / Half yearly / Quarterly / Monthly ** |
| Age* |
| Minimum Entry Age |
18 years |
| Maximum Entry Age |
65 years |
| Maximum Maturity Age |
70 years |
| Sum Assured |
| Minimum Sum Assured |
Rs. 25,00,000 (× Rs. 1,00,000) |
| Maximum Sum Assured |
No Limit |
| Riders Available |
| SBI Life - Accidental Death Benefit Rider (UIN: 111B015V01) |
| SBI Life-Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V01) |
| Options Available under the Product |
| Accelerated Critical Illness Benefit |
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* 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
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Benefits:
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Death Benefit: Depending on the plan option chosen, the nominee will receive the effective Sum Assured under this policy. |
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Maturity Benefit: No survival benefit available at the end of the term. |
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Other Benefits:
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Riders: |
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SBI Life - Accidental Death Benefit Rider (UIN: 111B015V01): In case of death due to an accident, the Rider Sum Assured is payable in addition to normal death benefit.
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SBI Life - Accidental Total and Permanent Disability Benefit 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.
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Cover Option: You have the option to further enhance your Level Term Assurance and Increasing Term Assurance by opting for the Accelerated Critical Illness benefit.
This option is available with Level Term Assurance and Increasing Term Assurance benefit.
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^ Tax benefits are subject to change in tax laws. Please consult your tax advisor for details.
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| 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. |
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