A penny saved is a penny earned, in our case, it’s worth a penny saved and some more earned. We save for our future, we save for our family, we save for our dreams, we save for a rainy day. It will be a true delight if you get back much more than what you actually save, together with peace of mind for your family.
Presenting SBI Life - Smart Guaranteed Savings Plan, a Traditional Non-participating Individual Savings Plan that provides your savings a boost with Guaranteed Additions (Conditions Apply#). In addition, your family has total peace of mind as you have a protection of insurance cover. So while you enhance your good habit of saving, we reward you with loads of add on benefits. So start saving, start multiplying.
Get Guaranteed Additions (GAs)#, at the end of each policy year, depending upon the installment premium amount chosen
Guaranteed Additions# are added at the simple rate of 5.5% or 6% and will apply to the cumulative basic^ premiums paid.
Pay premiums only for a limited period of 7 years and enjoy the benefits throughout the policy term of 15 years
Get Life Insurance coverage, based on the premium chosen
#For basic premium band Rs 15,000-29,000, the % of GA is 5.5% & for basic premium band Rs 30,000-75,000, the % of GA is 6%. For paid-up policies, GAs would be paid on a proportionately reduced rate.
^ Basic Premium is the premium excluding Service Tax, any underwriting extra etc.
Age at Entry*
Min: 18 years
Max: 50 years
Maximum Age at Maturity*
Premium Payment Term
Premium Amount (X 1000)
Max (Per life limit)
Depends on the premium chosen
* All the references to age are age as on last birthday.
Maturity Benefit (For In-force policies): On completion of Policy Term, Basic Sum Assured Plus accrued Guaranteed Additions, will be paid.
Death Benefit (For In-force policies): In the unfortunate event of death of the Life Assured, ‘Sum Assured on death’ along with accrued guaranteed additions will be payable to the beneficiary. Where, Sum Assured on death is Higher of (Basic Sum Assured or 10 times the Annualized Premium or 105% of total premiums paid as on the date of death).
Tax deduction under Section 80C 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 at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details: http://www.sbilife.co.in/sbilife/content/21_3672#5. 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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BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS.IRDAI clarifies to public that • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. • IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.