Smart Bachat - Best Endowment Assurance Plan

SBI Life – Smart Bachat

UIN: 111N108V03

Product Code: 2D

Live the future
you desire with
an assurance
of savings

Individual, Non-linked, Participating Life Insurance Savings Product

Life is all about looking ahead at the memorable moments, filled with various milestones. With SBI Life - Smart Bachat, you can accumulate savings for your financial needs, at every stage of life, to have the tomorrow you aspire for, along with protecting your family.

Key Features :

Save for your financial goals with limited Premium payment options
Life cover along with option of in-built Accident Benefit^#
Premium waiver⁺ available as an additional safety measure

^#Option A: Endowment Option & Option B: Endowment Option with in-built Accidental Death and Total Permanent Disability (AD & TPD) Benefit.
⁺Available only under Option B in case of Total & Permanent Disability due to Accident.

Highlights

Traditional Plan

Endowment Plan

SBI Life – Smart Bachat

Limited Premium Payment Term

Participating Plan

Savings Plan

Individual, Non-linked, Participating Endowment Assurance Plan

Features

Life insurance coverage through two plan options
Simple reversionary bonuses throughout the policy term
Option of in-built premium waiver benefit
Choose between four premium payment terms and a wide range of policy term

Advantages

Security

Financially protect you and your family in case of any eventuality with two options
- Option A : Endowment Option
- Option B : Endowment Option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit

Reliability

Build your corpus through regular simple reversionary bonuses
Premium waiver on Accidental Total & Permanent Disability (only for Option B)

Flexibility

Opt for a policy term according to your insurance needs
Choose premium payment term as per your convenience

Avail tax benefits*

Maturity Benefit for both Options :

On survival till the end of the policy term, Basic Sum assured^$ + Vested Simple Reversionary Bonuses + Terminal bonus, if any, is paid to the policyholder.

Note: In case of paid up policies, the Paid up Sum Assured will be paid instead of the Basic Sum Assured.

^$Basic Sum Assured is the absolute amount of benefit, which is guaranteed to become payable on maturity and is chosen by the policyholder at the inception of the policy.

Death Benefit for both Options :

On death of the life assured during the policy term, the beneficiary is entitled to get higher of A or B

Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal Bonus, if any.
Where Sum Assured on death will be higher of Basic Sum Assured or 10 times annualized^$$ premium
105% of the total premiums received^{^^} up to the date of death.

^$$Annualized Premium is the premium payable in a policy year as chosen by the policy holder, excluding the Applicable Taxes, underwriting extra premium and loadings for modal premiums, if any.

^{^^}Total Premiums received means total of all the premiums received, excluding any extra premium and applicable taxes.

In built Accidental Death and Total Permanent Disability (AD&TPD) Benefit, applicable only for Option B:

a) In case of Accidental Death of the life assured during the policy term,

An additional amount equivalent to the Basic sum assured would be payable in lump sum as an AD&TPD Benefit ^## PLUS
Death benefit as explained under 'Death Benefit for both Options'
Policy will terminate and no further benefits will be payable

b) In case of Accidental Total and Permanent Disability of the life assured during the policy term

AD&TPD Benefit^## would be payable in lump sum
All future premiums would be waived off AND
The base policy continues till surrender, death or maturity, whichever is earlier

^##AD & TPD Benefit will be lower of (a) and (b):

Basic Sum assured
Rs.50,00,000 subject to the condition that total sum assured under this benefit on all your individual policies with SBI Life put together should not exceed Rs. 50,00,000
This cap shall apply for Accidental Death and Accidental Total and Permanent Disability put together.

The benefit will be paid only once during the policy term, either on accidental death or on accidental total permanent disability.

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

^{^}All the references to age are age as on last birthday.

^#For Monthly mode, upto 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), upto 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction

NW/2D/ver1/01/22/WEB/ENG

**Assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates after considering all applicable charges. The bonus rates are assumed constant during the bonus accrual period, where as actual bonus could vary, depending on the investment experience of the Company. These are not guaranteed and they are not higher or lower limits of returns. Returns are dependent on a number of factors including future investment performance.

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 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. You may visit our website for further details here.

SBI Life – Smart Bachat