SBI Life Smart Platina Plus – Guaranteed Long Term Income & Savings Plan
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SBI Life - Smart Platina Plus

UIN: 111N133V01

Product Code: 2X

SBI Life - Smart Platina Plus Savings Plan

Enjoy a little
extra with regular
guaranteed income.

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An Individual, Non-linked, Non-participating, Life Insurance Savings Product

It's the little things in life that makes every moment more joyful. Have the assurance of that extra happiness and extra achievement with SBI Life- Smart Platina Plus which provides a regular guaranteed long term income so that you can go ahead and live a little more.
  • Regular guaranteed income during payout period
  • Flexibility^ to suit your life goals
  • Financial protection along with tax benefits*

^To choose Income plan option, Premium Payment Term, Payout Period and Income Payout Frequency

Highlights

SBI Life - Smart Platina Plus

Smart Platina Plus - Guaranteed Long Term Income Savings Plan

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Aryan has invested his funds while being assured of its growth with just limited premium payments.

You too can secure your future with SBI Life - Smart Platina Plus. Fill in the form fields below to know how

Name:

DOB:

Gender:

Male Female Third Gender

Staff:

Yes No

Life Assured:

Yes No

A little information about the premium options...

Premium Frequency

Annual Premium

50,000 No Limit

Premium Payment Term


A little information about the policy options...

Income Plan

Life Income
Guaranteed Income

Guaranteed Income Frequency

Payout Period

Policy Term


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Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment Term


Policy Term


Maturity Benefit

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Features

  • Choice of two income plan options to suit your financial needs – Guaranteed Income & Life Income
  • Guaranteed Income Benefit: Enjoy fixed regular income during the payout period opted.
  • Maturity Benefit: Get return of 110% of total premiums paid at the end of policy term.
  • Choice of frequency of income benefit - Yearly, Half-yearly, Quarterly or Monthly
  • Limited premium payment options – 7, 8 and 10 years
  • Tax Benefits*: As per the prevailing norms under the Income Tax Act, 1961.

Advantages

 

Security

  • Life insurance cover during policy term for financial protection of family

Flexibility

  • Choose the payout period to match your life goals. Option to change the income payout frequency before the payout period

Simplicity

  • Provides you with an easy application process for hassle-free issuance

Reliability

  • Regular guaranteed long term income

Maturity Benefit (For In-force policies):

For both the Income Plan options, on survival of the life assured till the end of the policy term, 110% of the Total Premiums paid would be refunded at the end of the policy term.
 

Survival Benefit (For In-force policies):

For both the Income Plan options, Guaranteed income will be paid during the payout period depending on the payout frequency chosen provided the Life assured is surviving.
 

Death Benefit (For In-force policies):

The death benefit under the two income options are as follows:
1. Life Income: On death of the life assured at any time during the policy term, Sum assured on death is payable as lump sum to the nominee or legal heir of the life assured and the policy terminates.
2. Guaranteed Income: The death benefit payable before the commencement of the payout period and during the payout period are different.
 
  • On death of the life assured before the commencement of the payout period, Sum assured on death is payable as lump sum to the nominee or legal heir of the life assured and the policy terminates.
  • On death of the life assured after the commencement of the payout period, Sum assured on death is payable as lumpsum to the nominee or legal heir of the life assured and the nominee or legal heir shall continue to receive the future Guaranteed Income during the payout period. The nominee or legal heir shall have an option to receive the discounted value of the future Guaranteed Income, in the form of a lumpsum, anytime during the Payout Period, discounted at 8.25% per annum.

Where sum assured on death is higher of the following
  • Basic Sum Assured = 11 times of annualized premium^ or
  • 105% of total premiums paid# upto the date of death or
  • Annual Guaranteed Income * Death Benefit Factor for Guaranteed Income + Maturity Benefit * Death Benefit Factor for Maturity Benefit

^Annualized premium shall be the premium payable in a year chosen by the policyholder, excluding the taxes, underwriting extra premiums and loadings for modal premiums, if any.

#Total Premiums paid /received means total of all the premiums received, excluding any extra premium and taxes.
For more details on risk factors, terms and conditions of SBI Life – Smart Platina Plus, read the following documents carefully.
Smart Platina Plus - Guaranteed Long Term Income Savings Plan
*All the references to age are age as on last birthday
^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 or legal guardian. This shall be as per our Board approved underwriting policy.

NW/2X/ver2/04/22/WEB/ENG

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. For further details click here. Please consult your tax advisor for details.