Get sum assured in equal instalments throughout the benefit payment period
Four plan options
Limited Premium Payment and Single Premium Payment options
Get financial support to ensure your family is protected
Regular income ensures your financial goals are met
Four plan options tailored to suit your financial requirements
Choose the Premium Payment Period as per your financial obligations.
Avail tax benefits*
For Limited Premium : In the unfortunate event of death during the term of the policy, provided the policy is in-force:
Higher of A or B is paid to the nominee, 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 10 times the annualized premium
B = Minimum death benefit, which is equal to 105% of the total premiums received up to the date of death
Annualized Premium is the premium amount payable in a year chosen by the policy holder, excluding the Applicable Taxes, underwriting extra premium and loadings for modal premiums, if any.
The total premiums recieved means total of all the premiums received, excluding any extra premium, and taxes
For Single Premium : In the unfortunate event of death during the term of the policy, provided the policy is in-force:
Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any.
Where Sum assured on death is higher of Basic Sum Assured or 1.25 times the single premium
On survival during the benefit payout period you will be paid regular payouts at the end of each policy year which will be equal to 20% of basic sum assured for 5 years under Plan 1 & 3 and 10% of the basic sum assured for 10 years under Plan 2 & 4, excluding the final survival benefit payout installment.
On survival till maturity, you will get vested reversionary bonuses plus terminal bonus, if any, along with the final benefit installment i.e. Guaranteed Sum assured on maturity. Where, guaranteed sum assured on maturity is 10% or 20% of the basic sum assured depending on the plan opted.
These are only the brief features of the plan. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
For more details on risk factors, terms and conditions of SBI Life – Smart Money Planner, read the following documents carefully.
^All the references to age are age as on last birthday. ^^The maximum basic sum assured shall be as per Board approved underwriting policy. The maximum premium would be based on the basic sum assured offered.
# 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. Please consult your tax advisor for details.