Guaranteed Monthly Income Plan | SBI Life Smart Money Planner
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SBI Life – SMART MONEY PLANNER

UIN: 111N101V02

Product Code: 1R

Guaranteed Monthly Income Plan

Today you plan. Tomorrow you reap.

  • Life cover throughout the policy term
  • Regular income during benefit payment period
  • Single and limited premium payment options
  • Simple reversionary bonuses
Individual, non-linked, with profit endowment assurance plan

Are you adequately prepared to meet various financial demands at different stages of life? Have you invested in a financial plan that can provide regular income?

Now you can avail dual benefits of regular income and security for your family under the same plan with SBI Life - Smart Money Planner.

This with-profit endowment assurance plan offers -
  • Security – through life cover
  • Reliability – with regular income throughout benefit payment period
  • Flexibility – through four different plan options

Enter your details in the benefit illustrator below and see how you can benefit from this plan.

Highlights

SBI Life – Smart Money Planner

Individual, non-linked, with profit endowment assurance plan

Ravi enjoys the benefits of regular cash inflows to meet his financial requirements and secure his family's future after having invested in this savings plan.

Change the form fields below to see how you too can fulfill your life goals and secure your family's future with the SBI Life - Smart Money Planner.

Name:

DOB:

Gender:

Male Female

Discount:

Staff None

J & K Resident:

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

Plan

Policy Term


A little information about the premium options...

Premium Paying Term

Premium Frequency

Sum Assured

1 Lakh No Limit

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Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment 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
  • Get sum assured in equal instalments throughout the benefit payment period
  • Four plan options
  • Limited Premium Payment and Single Premium Payment options

Advantages

Security
  • Get financial support to ensure your family is protected

Reliability

  • Regular income ensures your financial goals are met

Flexibility

  • Four plan options tailored to suit your financial requirements
  • Choose the Premium Payment Period as per your financial obligations.

Avail tax benefits*

Death Benefit:


In the unfortunate event of death during the policy term, your nominee will receive:
Highest of A or B, where:
  • Sum Assured (SA) on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any.
    Where SA on death will be higher of the following:
    • Basic Sum Assured (chosen at inception), or
    • Guaranteed Sum assured on Maturity, which is the final benefit instalment (20% or 10% of the basic sum assured depending on the plan option chosen) payable at maturity, or
    • Multiple of Annualized / Single premium,

      Where multiple for Limited premium payment is:
      Age at entry of Life Assured less than 45 years Age at entry of Life Assured 45 years or more
      10 7
      Where multiple for Single Premium payment is:
      Age at entry of Life Assured less than 45 years Age at entry of Life Assured 45 years or more
      1.25 1.10
  • 105% of all the premiums paid till the date of death

Survival Benefits:


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.

Maturity Benefit:


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.
# 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

1R.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.

*Tax Benefits:
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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