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smart scholar plus

Helping You Build Their Aspirations, One Step at a Time

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Every dream your child holds begins with preparation today.

Know about SBI Life – Smart Scholar Plus

UIN: 111L144V01 | Product Code: 3Q

Dual benefit of lumpsum payout & premium waiver^ for policy continuance on insured event#.

Create corpus for your child with market-linked investment through 10 fund options.

Boost your funds through loyalty additions*

Know Your Life Insurance Plan

Features

A Dual Foundation for Your Child's Future:

● Payment of Lump Sum Benefit: Should circumstances change, your child receives a lump sum benefit. Their aspirations continue to flourish, supported by the foundation you've established for them.

● Inbuilt Premium Payor Waiver Benefit :In the case of an eventuality (unfortunate death of Life Assured during the policy term), this feature ensures that all future premiums are waived while the policy remains in force. Your commitment to their future endures, providing continuity in their financial security and ensuring the plan stays on track.
 
Accident Benefit: which includes Accidental Death Benefit and Accidental Total and Permanent Disability Benefit forms an integral part of SBI Life – Smart Scholar Plus. This coverage provides reassurance as your family navigates life's various chapters together.
 
Loyalty Additions: SBI Life – Smart Scholar Plus product’s additional unit allocation by way of regular Loyalty Additions strengthen your corpus over time. Your sustained commitment to their future yields growing returns, reflecting the care you invest in their journey.
 
Enhanced Wealth Creation Opportunity: SBI Life – Smart Scholar Plus offers ten distinct fund options. This allows you to align Wealth Creation opportunity with your financial vision and comfort level, creating a portfolio that reflects your family's unique path.
 
Twin Benefit of Insurance Cover and Market-Linked Returns: SBI Life – Smart Scholar Plus pairs insurance coverage with market-linked growth potential. Security and opportunity work in harmony, supporting both your child's present needs and future aspirations.

Advantages

Security: SBI Life – Smart Scholar Plus provides life protection along with market linked returns.. Your child’s future remains secure, supported by a plan that grows alongside them.
 
Reliability: Should circumstances require it, Inbuilt Premium Payor Waiver Benefit^ ensures continuance of your policy. Thus, ensuring continuity for your child's aspirations.
 
Added Benefits: Regular loyalty additions strengthen your funds over time. Your dedication yields steady growth, building a stronger foundation for their future.
 
Flexibility: SBI Life – Smart Scholar Plus offers ten fund options. This allows you to tailor your needs to match your child's unique aspirations and your financial vision, creating a portfolio that reflects your family's path.
 
Liquidity: SBI Life – Smart Scholar Plus offers partial withdrawal option from the 6th policy year on-wards. This provides financial support when important needs arise, while your long-term funds continues to grow.
 
Tax Benefits:* Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for further details

^Not applicable for Single Premium and Paid-up Policies

Plan Benefits

Maturity Benefit:

On completion of the Policy Term, the Fund Value will be paid as a lump sum.
Death Benefit:

In the event of the unfortunate death of the life assured, a lump sum benefit equal to the higher of the Sum Assured or 105% of the Total Premiums Paid^ up to the date of death will be payable.

The company continues to pay your future premium(s) on your behalf (inbuilt Premium Payor Waiver Benefit) and the accumulated Fund Value will be paid at maturity.

Accident Benefit:

In case of unfortunate Accidental Death or Accidental Total and Permanent Disability of the Life Assured, we pay:

Additional Benefit equal to the Accident Benefit Sum Assured as per the terms and conditions of the policy.

Tax Benefits*:

You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. For further details, click here. Please consult your tax advisor for details.
 

Note: The Accident Benefit and Premium Payor Waiver Benefit are not available in Single Premium policies.

 

^Total Premiums Paid means total of all the premiums received under the base product including top-ups premium paid, if any. Additional benefit equal to Accident benefit Sum Assured

Downloads

For more details on risk factors, terms and conditions of SBI Life – Smart Scholar Plus, read the following documents carefully.

• Product Brochure/Prospectus

• Product Guide

• Policy Document

• Customer Information Sheet (CIS)
 

Who Can Buy?

Age1at Entry Minimum: Parent (Life Assured): 18 years Child: 0 years Maximum: Parent (Life Assured): 50 Years Child: 17 Years
Age1at Maturity Minimum: Child: 18 Years Maximum: Parent (Life Assured): 65 Years | Child: 25 Years
Policy Term 8 years to 25 years Subject to the condition that at maturity age of child should be 18 years or more (last birthday)
Premium Paying Term (PPT) Single Pay: One time at policy inception Limited Pay: 5 years to Policy term minus 1 year Regular Pay: Equal to policy term
Premium Range Plan Type Premium Frequency Minimum (in ₹) Maximum (in ₹)
Single Pay Single 75,000 No Limit, Subject to Board Approved underwriting Policy
Other than Single Pay Yearly 50,000
Half-Yearly 25,000
Quarterly 15,000
Monthly 5,500
Sum Assured Limited Pay / Regular Pay: 10 x Annualized Premium** Single Pay : 1.25 x Single Premium***

1Age mentioned in this document is age last birthday.

**“Annualized Premium” means the premium amount payable in a year excluding taxes, rider premiums and underwriting extra premium on riders, if any.

 

*** “Single Premium” means the premium amount payable in lump sum at policy inception excluding taxes, rider premiums and underwriting extra premium on riders, if any.

Calculate Your Premium

Every chapter of your life comes with its own responsibilities. The right life insurance plan grows with you, supporting your goals and the ones you care about.

Based on your age, coverage, premium payment term and policy duration, discover a premium that fits your life.

1

Personal Details

Select Your Gender

Discount

Select Child's Gender

Policy Term
8 25
Premium Amount
50,000 500,000,000
  • Agency
  • Corporate Agent
  • Broker
  • IMF
  • Web Aggregator
  • Online
  • Direct Marketing

Plan Type

Premium Frequency

  • 15 Years
Equity Fund (%)
0 100
Top 300 Fund (%)
0 100
Equity Optimiser Fund (%)
0 100
Growth Fund (%)
0 100
Bond Fund (%)
0 100
Money Market Fund (%)
0 100
Balanced Fund (%)
0 100
Bond Optimiser Fund (%)
0 100
Pure Fund (%)
0 100
Bluechip Fund (%)
0 100
Allocation total: 0% Must add to 100%
Sum Assured
₹2,00,00,000
Premium Frequency
Yearly
Premium Payment Term
10 Years
Policy Term
10 Years
Maturity Result
10 Years
**Assumed rates of returns @4% and @8% p. a., are only illustrative scenarios at these rates after considering all applicable charges. These are not guaranteed and they are not higher or lower limits of returns. Unit Linked Life Insurance products are subject to market risks. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans and their future prospects or returns.
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Frequently Asked Questions

The SBI Life – Smart Scholar Plus product is a unit-linked life insurance policy available for parents who have children aged between 0 and 17 years. The plan has been designed to secure your child's future. SBI Life – Smart Scholar Plus provides assurance that your child will receive the support necessary to flourish. Their journey continues with the foundation you've established, enabling them to pursue their aspirations with confidence.

SBI Life – Smart Scholar Plus is designed for anyone committed to safeguarding their child's educational journey, marriage, financial security etc. SBI Life – Smart Scholar Plus offers the solution you seek to protect their potential and secure their future. Any child between the ages of 0-17 years can be enrolled by their parent, whose age is between 18-50 years.

When you buy SBI Life – Smart Scholar Plus , you invest in a foundation for your child's education, marriage, financial security. Their aspirations remain financially supported. Should circumstances require it, the plan ensures that your child will receive the financial support they need . Its Premium Payor Waiver Benefit (PPWB) ensures policy continuance on unfortunate death of Life Assured during the policy term. This enables them to pursue their educational journey with confidence and continuity.

Like any financial plan, SBI Life – Smart Scholar Plus involves market-linked returns where the risk in the unit-linked portfolio is borne by the policyholder. This structure allows you to select from various fund options to align your coverage strategy with your child’s future aspirations.

You can apply for SBI Life Smart Scholar Plus online by completing the digital application on our website. This structured process allows you to submit the necessary details from your home at your own pace. By following the guided steps, you can initiate the protection your child’s future requires.

To get started, you'll need a few basic documents, such as proof of identity (Aadhaar, passport, etc.), proof of address (utility bill, bank statement), and your child’s birth certificate to verify their age. You’ll also need bank details for the premium payments. These documents are essential for verifying your profile and facilitating a seamless policy issuance and premium setup.

To apply for SBI Life – Smart Scholar Plus online, visit our website and follow the guided purchase process. Start by selecting the plan that suits your needs, then provide the necessary details like your child's age and the amount of premium you wish to pay. Upload the required documents, review your plan, and complete your payment securely. By completing these steps, you can take the initiative to help protect your child’s future.

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^Not applicable for Single Premium and Paid-up Policies. 

#Unfortunate death of Life Assured during the policy term. 

*For in-force policies on completion of specific durations, depending upon policy term 

 

Assumed rates of returns @4% and @8% p. a., are only illustrative scenarios at these rates after considering all applicable charges. These are not guaranteed and they are not higher or lower limits of returns. Unit Linked Life Insurance products are subject to market risks. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans and their future prospects or returns.

Unit Linked Life Insurance products are different from the traditional products and are subject to market risks. The premium paid in Unit Linked policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder/insured is responsible for his/her decisions.

SBI Life Insurance Co. Ltd. is only the name of the insurance company and SBI Life – Smart Scholar Plus is only the name of the unit linked Life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risk and applicable charges from your Insurance Advisor or the intermediary or the policy document from the insurer.

The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects or returns. Past performance of the Fund Options is not indicative of future performance. All benefits payable under this policy are subject to tax laws and other fiscal enactments in-effect from time to time, 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.

*Tax Benefits:

Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

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. For further details, click here. Please consult your tax advisor for details.
WT/3Q/ver1/02/26/WEB/ENG