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
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
Build your corpus through regular simple reversionary bonuses
Premium waiver on Accidental Total & Permanent Disability (only for Option B)
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, Guaranteed Sum Assured on maturity$ + 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.
$ Guaranteed Sum Assured on maturity = Basic Sum Assured
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$$ premium
105% of all the premiums paid till the date of death.
$$Annualized Premium is the premium payable in a policy year, excluding applicable taxes, underwriting extra premium and loadings for modal premiums, if any.
In built Accidental Death and Total Permanent Disability (AD&TPD) Benefit, applicable only for Option B
In case of Accidental Death of the life assured during the policy term,
AD&TPD Benefit## would be payable in lump sum PLUS
Death benefit as explained under ‘Death Benefit for both Options'
Policy will terminate and no further benefits will be payable
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
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 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, 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
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**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 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. You may visit our website for further details here.