SBI Life Smart Money Back Plus – Life Insurance Savings Plan
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SBI Life - Smart Money Back Plus

UIN: 111N174V02

Product Code: 4B

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SBI Life Smart Money Back Plus Premium Details

An insurance plan
that pays back
for your life's
key moments

An Individual, Non-linked, Participating, Life Insurance Savings Product.

Every individual dreams to fulfil cherished milestones of their life, be it career, birth of child, their education, wedding, dream home or providing his family with the best. There's a commitment that ensures them to keep moving forward towards their life's important milestones. To truly enjoy these precious moments, it's essential to be financially prepared with the right support at the right time.

At SBI Life, we are committed to help you achieve these important life stages by preparing you financially.

Introducing, SBI Life – Smart Money Back Plus a thoughtfully designed plan that ensures payouts at periodic intervals, while also providing life insurance protection throughout the policy term. It's a seamless way to plan ahead and ensure you stay committed towards life's key milestones with complete peace of mind.

Key Benefits:
  • Periodic cash payouts to support your life’s key moments@
  • Premium payment term & policy term as per your requirement#
  • Enhanced Protection with Optional Accident Benefit Rider*

@Get survival benefit payout as per the policy term chosen.
#Option of multiple limited premium payment term available.
*SBI Life – Accident Benefit Rider (UIN: 111B041V01), Option A: Accidental Death Benefit (ADB) and Option B: Accidental Partial Permanent Disability Benefit (APPD)

Highlights

SBI Life Smart Money Back Plus

Individual, Non-linked, with profit endowment assurance plan

plan profile

Mitesh used this money back plan to help him enroll his daughter in school and go for that international holiday, and is assured that his family’s financial future is secure.

Enter your details in the form field below and see how you can secure a brighter future.

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Discount:

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A little information about the premium options...

Premium Payment Option

Premium Paying Term

Policy Term

20 25

Premium Frequency

Sum Assured

200000 No limit

SBI Life – Accident Benefit Rider (111B041V01)

Option A : Accidental Death Benefit (ADB)

Term For ADB Rider

7 25

ADB Rider Sum Assured

50,000 6000000

Option B : Accidental Partial Permanent Disability Benefit (APPD)

Term For APPD Rider

7 25

APPD Rider Sum Assured

50,000 2000000
Reset
sum assured

Sum Assured

premium frequency

Premium frequency

Premium amount
(excluding taxes)

premium paying

Premium Paying Term

maturity benefits

Maturity Benefit Exclaim

At assumed rate of returns** @ 4%


or
@ 8%

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Features

  • Periodic cash payouts based on policy term chosen to meet your planned financial goals
  • Total Benefit of 130% of the Sum Assured over the policy term along with bonuses^.
    • 90% of the Sum Assured is payable as Survival Benefits through increasing payouts of 15%, 20%, 25%, and 30%.
    • 40% of Sum Assured along with Vested Reversionary Bonus if declared, plus Terminal Bonus, if any is payable on maturity.
  • Flexible premium payment options.
  • Premium discounts for higher Sum Assured
  • Tax benefits^^ as per prevailing norms under Income Tax Act, 1961

^ Includes Vested Reversionary Bonus if declared, plus Terminal Bonus, if any.
^^Tax benefits are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for further details.

Advantages

Security
  • Life insurance cover to provide financial protection of the family

Flexibility

  • Premium payment made easy with Limited Premium Payment Term of 7,10 and 12 Years

Simplicity

  • Periodic cash payouts based on policy term chosen
  • Premium discounts for Higher Sum Assured

Reliability

  • Total Benefit of 130% of the Sum Assured over the policy term along with bonuses^.
    • 90% of the Sum Assured is payable as Survival Benefits through increasing payouts of 15%, 20%, 25%, and 30%.
    • 40% of Sum Assured along with Vested Reversionary Bonus if declared, plus Terminal Bonus, if any is payable on maturity.

Bonus

Being a participating product, this policy shall participate in the profits arising out of the company's 'with profits' life insurance business. Reversionary bonus, if any, would be declared as a result of the surplus generated based on the Statutory Valuation carried out at the end of every financial year. Terminal bonus, if declared, would become payable in the policy year when the policy results into a claim either by death, surrender or maturity. Reversionary bonus would be expressed as a percentage of Sum Assured and Terminal bonus would be expressed as a percentage of accrued Reversionary bonuses.

Survival Benefits

The Survival Benefits instalments expressed as a fixed percentage of Sum Assured are payable on survival of Life Assured till the end of specified policy years during the policy term, subject to policy being in-force.

Maturity Benefits

On survival of Life Assured till the end of the policy term, provided the policy is in force, Sum Assured on Maturity plus Vested Reversionary Bonus if declared, plus Terminal Bonus, if any, is payable as a lumpsum.
Where, Sum Assured on maturity is equal to 40% of Sum Assured.

Death Benefit

In the unfortunate event of death of Life Assured during the policy term, provided the policy is in-force, Death Benefit is payable as lump sum, which is higher of the following:

  • Sum Assured on Death plus Vested Reversionary Bonuses, if declared plus Terminal Bonus, if any
  • 105% of the Total Premiums Paid ## up to the date of death

where Sum Assured on Death is higher of Sum Assured^^^ or 11 times of Annualized Premium &


Death Benefit mentioned above is payable irrespective of Survival Benefits already paid, if any


^^^The Sum Assured is the absolute amount of benefit chosen by the policyholder at the inception of the policy.
&Annualized premium shall be the premium amount payable in a year, excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premium.
##Total Premiums Paid means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly.

Rider Benefit

Refer to the rider brochure for more information.

SBI Life Smart Money Back Plus Premium Details
**Premium amounts exclusive of any underwriting loadings and rider premium, if any.
###Subject to minimum maturity age. If the life assured is minor, date of commencement of policy and date of commencement of risk shall be same and the policyholder/proposer can be parents, grandparents or legal guardian. This shall be as per our Board approved underwriting policy. The policy shall vest in the life of the minor insured once he / she attains majority i.e. 18 years

4B/ver1/01/26/WEB/ENG

For more details on Riders, terms and conditions please read rider brochure.
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.


^^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. For further details, click here.