SBI Life - Smart Humsafar ???en.user.selcrs???
SBI Life Insurance India's First and Only Multi-lingual Life Insurance website:  English | हिन्दी | বংলা | தமிழ் | తెలుగు | मराठी | ગુજરાતી | ಕನ್ನಡ | ਪੰਜਾਬੀ | മലയാളം
Call Toll Free 1800 22 9090 SMS 'CELEBRATE' to 56161
Find us on :  Twitter  Facebook
   
INDIVIDUAL PLANS
Unit Linked Plans
Child Plans
Retirement Plans
Protection Plans
Savings Plans
Home > Savings Plans > SBI Life - Smart Humsafar

SBI Life - Smart Humsafar
(UIN : 111N103V02)

(Product Code : 1W)
 Brochure | Single Pager | Policy Document | Customized Benefit Illustrator | Email | Ask for a Visit | For NRIs
 
Introduction
Plan Highlights
How does plan works?
How can you avail this plan
Maturity Benefit
Death Benefit
Rider Benefit
Tax Benefit
 

Introduction:

 
In the journey of life, married couples are joint partners in their journey of success, progress and prosperity. Both have to join hands together to fulfill their dreams and goals.

We at SBI Life value this partnership and present a unique Life Insurance with Saving Plan SBI Life - Smart Humsafar. Just like Humsafar of your life, the product complements your efforts to achieve prosperity along with protection. Your dream for every stage of your life, for yourself and for your family, could be varied - from buying a car, a house, for children’s education and marriage, a vacation or dream of a better life after retirement. To see that your dream for yourself and for your family is achieved, with or without you, you need to act now.

SBI Life - Smart Humsafar is a Joint Life non-linked participating endowment plan. It provides you with multiple benefits of savings and insurance cover for both husband and wife, making it a perfect gift for you and your loved ones.
 
 
Plan Highlights:
   
A Joint life insurance cum savings plan wherein you can take insurance cover for yourself and your spouse under a single policy.
 
Guaranteed (Conditions apply#) minimum bonus for first 3 years @ 2.50% of the Basic Sum Assured.
 
Provides financial protection in the event of death of either or both the lives assured. Pays a maturity amount on survival of one or both the lives assured at the end of the policy term.
 
Benefits also include premium waiver in case of death of any one of the lives assured for in force policies.
 
Additional rider benefit at an affordable cost
 
Tax benefits## as per prevailing norms under the Income Tax Act, 1961.
 
##Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
# For In-force policies
 
 
How does the Plan work?

The base plan is a traditional endowment plan with simple reversionary bonuses which accrue till the end of the policy term provided the policy is in force. The basic Sum Assured with all accrued bonuses will be paid on survival of any or both lives till maturity. On first death, Sum Assured on death is payable and the future premiums starting from the next policy anniversary are waived off, provided the policy is in-force for full sum assured. On second death, sum assured on death plus all accrued bonuses are payable, provided the policy is in-force for full sum assured.
 
 
Who can avail this plan?
 
Age** at Entry Min.: 18 years                                  Max.:  46 years
Maximum Age** at Maturity 65^ years
Maximum Age Difference between the lives assured 20 years  
Sum Assured Min: Rs. 100,000              Max: Rs. 5,00,00,000
Policy Term  Min: 10 years Max: 30 years
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly###
Premium Paying Term Same as policy term
Minimum Premium (excluding taxes) (Rs.)
Yearly Half Yearly Quarterly Monthly
6,000 3,000 1,500 500
**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 through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card)

For Monthly Salary Saving Scheme (SSS), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction


^equivalent age for both the lives at inception of the policy plus policy term cannot be more than 65 years. Equivalent age of joint lives is equal to the age of the younger life plus an addition depending on the age difference.
 
 
Maturity Benefit :
 
If either or both of the lives assured survives till maturity then Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any, will be paid provided the policy is in-force.
 
 
Death Benefit:
 
First death:
 
 
If your policy is in force as on the date of first death: Higher of A or B is paid to the surviving life assured.
 
A Sum assured on death:
Sum assured on death is higher of Basic Sum Assured or guaranteed sum assured at maturity* or a multiple of annualised premium (AP); where multiple is:
 
 
Equivalent age at entry is less than 45 years 10 times AP
Equivalent age at entry is 45 years or more 7 times AP
   
B 105% of all the premiums paid under the base policy.
*Basic sum assured is the guaranteed sum assured at maturity.
 
Further, all future premiums starting from the next policy anniversary will be waived off for the surviving life assured. Waiver of premium will take place only if the policy is in force for the full sum assured at the time of first death.
   
Second death:
 
If your policy is in force as on the date of second death: Higher of A or B is paid to the nominee.
 
A Sum assured on death:
Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any.
Sum assured on death is higher of Basic Sum Assured or guaranteed sum assured at maturity* or a multiple of annualised premium (AP); where multiple is:
 
 
Equivalent age at entry is less than 45 years 10 times AP
Equivalent age at entry is 45 years or more 7 times AP
   
B 105% of all the premiums paid under the base policy. This would include premiums already waived under the policy, if any.
*Basic sum assured is the guaranteed sum assured at maturity.
 
 
Rider Benefit:
 
Either of the lives assured or both lives assured have an option of availing SBI Life - Accidental Death Benefit Rider (UIN:111B015V02) at an affordable cost. The rider benefit will be payable in respect of each of the life assured.

The rider cover is available only for in force policies and till the policy anniversary following first death. However, if both lives assured have chosen rider and
 
i.
both die simultaneously as a result of accident, or
 
ii.
die on different dates as a result of same accident , or
 
iii.
die during the same policy year as a result of different accident
 
then rider benefit will be paid in respect of both lives assured, provided the accident happens within the policy term and the death due to accident happens within 120 days from the date of accident irrespective of expiry of policy term.

The rider benefits can be taken up only at the inception of the policy. However, the benefits may be terminated by stopping the premium payment for the rider. The base policy may however be continued.

For further details please refer rider brochure.
 
Tax Benefits:
 
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.

These are only the brief features of the plan. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. For more details on Riders, terms and conditions please read rider brochure.

1W.ver.01-07/16 WEB ENG

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.
 
Buy Policy Online
  Login Area
  Go
   NAVs
  Click here to view the latest Unit Values & Newsletters >>
  Services
  Premium Calculator
  Retirement Planner
  Child Education Planner
  Tax Calculator
SBI | SBI Online Banking | SBI General Insurance | SBI Card | SBI AMC | SBI Capital | SBI Global Factors | SBI DFHI Ltd
State Bank of Bikaner and Jaipur | State Bank of Hyderabad | State Bank of Mysore | State Bank of Patiala | State Bank of Travancore
IRDAI | Consumer Education Website by IRDAI | Life Insurance Council | SFIN Codes | Privacy Policy | Disclaimer | Do Not Call
IRDAI Registration no. 111 issued on 29th March 2001.
Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license.
Registered & Corporate Office: SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069.
CIN: U99999MH2000PLC129113
2016 SBI Life Insurance Company Limited. All rights reserved.