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Home > Unit Linked Plans > SBI Life - Smart Privilege

SBI Life - Smart Privilege
(UIN : 111L107V01)

(Product Code : 2B)
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IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLIYCHOLDER
"The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year"
 
 
Mortality Rates for SBI Life - Smart Privilege
Introduction
Key Features
Product Snapshot
Benefits
 
 
Introduction:
 
You are the epitome of success. Having made a mark, you are held in very high regard by your friends and family. Your achievements reflect the wise decisions and smart choices made by you, in every sphere.

Presenting to the high achievers like you: ’SBI Life - Smart Privilege’.

’SBI Life - Smart Privilege’ is a unit linked, non-participating life insurance plan - with various benefits and advantages. It gives you life insurance coverage along with the flexibility to make multiple switches and premium re-directions between eight diverse funds with loyalty additions to boost your fund value. It does not levy any policy administration charges thus ensuring that more of your money is working for you. All this and more, coming from SBI Life Insurance Co. Ltd. your preferred life insurer, adding value to your investments.
 
 
Key Features:
   
Flexibility of premium payment: Pay premiums throughout the policy term or for a limited period or through a Single Payment, as per your convenience and enjoy benefits including Life Cover, throughout the chosen policy term.
 
Choice of 8 different Funds: Invest in wide range of 8 funds including two new funds - Pure Fund & Midcap Fund.
 
Boost your Fund Value:
 
No Policy Administration Charges throughout the policy term
 
No Premium Allocation Charge from 6th policy year onwards
 
Loyalty Additions starting as early as 6th policy year onwards for in-force policies^
 
Unlimited free switches: Manage your changing financial priorities with unlimited free switching facility.
 
Liquidity through Partial Withdrawals from 6th policy year onwards ^
   

Product Snapshot
 
Age# at Entry Minimum:
8 years for Regular/Limited premium policies
13 years for Single premium policies
Maximum: 55 years
Age at Maturity
Minimum: 18 years Maximum: 70 years
Policy Term## 10 to 30 yrs (both inclusive) for Regular / Limited premium policies
5 to 30 yrs (both inclusive) for Single premium policies
Premium Payment Term Regular Premium (RP) - Same as policy term
Limited Premium Paying Term (LPPT) -
Minimum: 5 years Maximum: Policy term less 1 year
Single Premium (SP) - One-time payment at policy inception

 

Regular/Limited Premium Amount (In multiples of Rs. 100)
  Minimum Maximum
Yearly
Half-yearl
Quarterly
Monthly###
Rs 600,000
Rs 300,000
Rs 150,000
Rs 50,000
No Limit
Single Premium Amount (In multiples of Rs. 100)
Minimum: Rs  600,000 Maximum: No Limit
Premium Modes Single /Yearly/Half-yearly/Quarterly/ Monthly###
Sum Assured For Regular / Limited Premium-
For all Ages: Higher of 10 x Annualized Premium (AP) or (Policy term x 0.5 x AP)

For Single Premium (SP) –
For Ages below 45 years: 1.25 x SP

For Ages more than or equal to 45 years:
Minimum: 1.10 x SP Maximum: 1.25 x SP
# All the references to age are age as on last birthday.

##In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity life assured should be a major. In case of minor lives, date of commencement of policy and date of commencement of risk shall be same

###For monthly mode, 3 months premium to be paid in advance and renewal premium payment is allowed only though ECS, Credit Card, Direct debit and SI-EFT. For Monthly Salary Saving Scheme (SSS), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction.
 

Benefits:
 
Maturity Benefit: (Applicable only for in-force policies): On completion of Policy Term, Fund Value will be paid.
 
Death Benefit: (Applicable only for in-force policies):
Higher of Fund Value or Sum Assured* is payable; with a minimum of 105% of total premiums paid till the date of intimation of death.
 
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
 
* Net of partial withdrawals

^For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

Pure Fund: SFIN: ULIF030290915PUREULPFND111, Midcap Fund: SFIN: ULIF031290915MIDCAPFND111
2B.ver.01-06/16 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.
 
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CIN: U99999MH2000PLC129113
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