Money Back Insurance Plan | Smart Income Protect - SBI Life
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SBI Life – Smart Income Protect

UIN: 111N085V03

Product Code: 1B

Money Back Insurance Plan

Enjoy the benefit of regular payouts

  • Regular annual income
  • Regular simple reversionary bonuses
  • Four rider options
Non-linked participating life insurance plan

Does your existing life insurance plan also provide regular cash inflow to meet various life obligations?

SBI Life - Smart Income Protect, a traditional participating savings plan, offers dual benefits of life cover and regular cash inflow over a period of 15 years.

This savings plan offers –
  • Security – life cover throughout the policy term
  • Reliability – regular annual income
  • Flexibility – choice of four riders

Enter your information in the benefit illustrator below to see how you can receive regular income with SBI Life – Smart Income Protect.
Celebrate life with the confidence to meet its varied demands.

Highlights

SBI Life Smart Income Protect

Non-linked participating life insurance plan

Mittal, a businessman by profession, will receive regular income in the future and is assured that his family will be financially secured.

Enter the form fields below to see how you too can benefit from the SBI Life - Smart Income Protect Plan.

Name:

DOB:

Gender:

Male Female

Discount:

Staff None

J & K Resident:

Yes No

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

Policy Term


A little information about the premium options...

Premium Frequency

Sum Assured

1 Lakh No Limit

Let's finalize the rider options...

SBI Life - Preferred Term Rider (UIN:111B014V02):

Term for preferred Term Rider

Preferred Term Rider Sum Assured

25,000 50,00,000

SBI Life - Accidental Death Benefit Rider (UIN:111B015V02):

Term for ADB Rider

ADB Rider Sum Assured

25,000 50,00,000

SBI Life - Accidental Total & Permanent Disablity Benefit Rider (UIN:111B016V02):

Term for ATPDB Rider

ATPDB Rider Sum Assured

25,000 50,00,000

SBI Life - Criti Care 13 Non -Linked Rider (UIN:111B025V02):

Term for Criti Care 13 Non -Linked Rider

Criti Care 13 Non Linked Rider Sum Assured

25,000 20,00,000

Reset

Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Paying Term


Policy Term


Maturity Benefit Exclaim

At assumed rate of returns** @ 4%


or
@ 8%

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Features

  • Life cover throughout the policy term
  • Vested reversionary bonuses plus terminal bonus, if any, paid as lump sum at maturity
  • Annual income of 11% of Basic Sum Assured over a period of 15 years after maturity
  • Policy term of 7, 12 or 15 years
  • Four rider options

Advantages

Security

  • Ensure your family’s financial needs are met

Reliability

  • Regular annual income to meet your obligations, with an option to receive the same as a lump sum, at maturity

Flexibility

  • Choose the policy term based on your financial needs
  • Enhance your coverage through four rider options at an nominal cost
    • SBI Life - Preferred Term Rider
    • SBI Life - Accidental Death Benefit Rider
    • SBI Life - Accidental Total and Permanent Disability Benefit Rider
    • SBI Life - Criti Care 13 Non-Linked Rider

Avail tax benefits*

On Maturity:

  • Maturity Benefit as lump sum: You get Vested Reversionary Bonuses plus Terminal Bonus, if any, at maturity
  • Maturity Benefit in Instalments: You will be paid yearly payouts equal to 11% of basic Sum Assured for next 15 years after maturity. This period of 15 years is your payout period. The first instalment will be paid at the end of first year during the payout period.
  • Alternatively, you have an option to receive the maturity benefit as lump sum, which will be 110% of basic sum assured plus Vested Reversionary bonuses plus Terminal bonus, if any at maturity.

On Death:

  • In the unfortunate event of death of life assured during the policy term, the nominee will receive higher of (A,B), where:

A. Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any.

Where Sum Assured on Death is higher of basic Sum Assured@ or guaranteed sum assured at maturity or a multiple of annualized premium@@; where multiple is:
Policy Term Age at entry of Life Assured less than 45 years Age at entry of Life Assured 45 years or more
7 years 5 5
12 or 15 years 10 7

B. 105% of all the premiums paid till the date of death.


@The absolute amount assured to be paid on death is the ‘basic Sum Assured’ and the guaranteed sum assured at maturity is 110% of the basic sum assured.


@@Annualised premium is the premium payable in a year, excluding service tax, cess, the underwriting extra premiums, loadings for modal premiums and rider premiums, if any.

In case of death during the payout period, all future payouts will continue to be paid to the nominee or legal heir.
*The maximum sum assured would be subject to board approved underwriting policy. The maximum premium would be based on the sum assured offered.
^ All the references to age are age as on last birthday.
# 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

1B.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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info@sbilife.co.in