SBI Life - Smart Humsafar | Joint Life Insurance Plan
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SBI Life – SMART HUMSAFAR

UIN: 111N103V02

Product Code: 1W

Smart Humsafar Insurance Plan

Promises for happiness, prosperity and security.

  • Life insurance cover for spouses
  • Premium waiver benefit
  • Additional rider option
  • Rebates on large sum assured
Joint Life, Non-linked, Participating endowment plan

You promised to take the journey of life together, come what may. Are you ready to join hands and fulfill each other’s dreams and goals?
Achieve every dream with SBI Life - Smart Humsafar, a unique life insurance with saving plan. Avail of the twin benefits of savings and insurance cover under a single policy for both you and your spouse.

This savings plan offers -
  • Security –by protecting your spouse and yourself in case of an eventuality
  • Reliability –through the premium waiver benefit
  • Flexibility – to include additional rider benefits
  • Simplicity – of covering two individuals under one policy

Try our benefit illustrator below, and see how you can enjoy the advantages of this plan.
Secure your lives and celebrate your togetherness.

Highlights

SBI Life Smart Humsafar

Joint Life, Mon-linked, Participating endowment plan

Rashmi and Rahul, a banker and her husband, have ensured that their joint liabilities are taken care of through this joint life savings plan.

Change the form fields below to see how you can fulfill your combined goals with SBI Life – Smart Humsafar.

Name:

DOB:

Gender:

Male Female

Spouse's Name:

DOB:

Gender:

Male Female

J & K Resident

Yes No

Discount:

Staff None

Let's finalize the policy duration you are comfortable with...

Policy Term

10 30

A little information about the premium options...

Premium Frequency

Sum Assured

100000 5,00,00,000

Let's finalize the rider options...

Do you want to choose SBI Life - Accidental Death Benefit Rider(UIN:111B015V02):

Yes
No

if Yes , then Applicable for

Term for ADB Rider (Proposer)

5 30

ADB Rider Sum Assured for Life to be Assured (Proposer)

25,000 50,00,000

Term for ADB Rider (Spouse)

5 30

ADB Rider Sum Assured for Life to be Assured (Spouse)

25000 50,00,000

Reset

Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment Term


Policy Term


Maturity Benefit

At assumed rate of returns** @ 4%


or
@ 8%

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Features

 
  • A joint life insurance with savings plan that provides coverage for you and your spouse
  • Assured bonuses for in-force policies
  • Premium waiver benefit
  • Additional rider benefits
  • Single application for both lives

 

Advantages

 

Security

  • Dual protection to safeguard your family’s future

Reliability

  • Assurance that your plan benefits will continue even in the case of an eventuality

Flexibility

  • Option of SBI Life – Accidental Death Benefit Rider for comprehensive coverage
  • Choose premium payment frequency as per your convenience

Simplicity

  • Get your spouse and yourself insured with one single policy

Avail tax benefits*

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.
    • 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
    • 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.
    • 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
    • 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
  • both die simultaneously as a result of accident, or
  • die on different dates as a result of same accident , or
  • 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.
For more details on risk factors, terms and conditions of SBI Life – Smart Humsafar, 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
^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.

1W.ver.03-10/17 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.
For more details on riders, terms and conditions, please read rider brochure.

*Tax Benefit:


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. Please consult your tax advisor for details.

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