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SBI Life - ewealth Insurance SBI Life ewealth Insurance
Introduction

SBI Life - eWealth Insurance is a non-participating Online Unit Linked Insurance Plan (ULIP).

Enhancing your wealth is as important as earning it. As you make efforts to create wealth, you can count on our expertise to grow it sustainably with SBI Life - eWealth insurance plan. 

There are two plan options available under this product, Growth and Balanced. The premium is invested in the plan option chosen by you through the Automatic Asset Allocation (AAA) feature. The AAA feature allows you to take higher exposure to equity in the initial policy years and gradually increases the exposure to less risky Debt or Money market instruments. As your policy gets closer to maturity, funds flow from Equity to Money Market, thereby giving you the benefits of market linked returns and also protecting your investments from short term fluctuations.

Key Features

Hassle free investment management through Automatic Asset Allocation.

Choice of two plans options - Growth and Balanced.

 Premiums starting as low as Rs 10,000 for yearly mode and Rs. 1,000 for monthly mode.

 No Premium Allocation Charges, thereby enhancing your Fund Value.

 Easy and Simple 3 Step Online Buying Process.

 Twin benefits of Life Insurance Cover and Market Linked Returns.

Liquidity through Partial Withdrawal(s) from 6th policy year onwards.

Get Section 80C benefit on your premiums paid, as well as Section 10(10D) benefit on the maturity amount, subject to conditions.

Product Snapshot

Age at Entry Min: 18 years 
Max: 50 years
Maximum Age at Maturity 60 years
Policy Terms 10 to 20 years (both inclusive)
Premium Payment Frequency Yearly & Monthly
Premium Payment Term Same as Policy Term
Premium Range (X 100)
Premium Mode Premium Range
Minimum Maximum
Yearly Rs 10,000 per annum Rs 1,00,000 per annum
Monthly Rs 1,000 per month Rs 10,000 per month
Sum Assured 10 x Annualized Premium

SBI Life Smart wealth builder SBI Life Smart wealth builder
Introduction

You may have ever changing needs, but as your preferred life insurance company, SBI Life definitely understands all your financial & insurance needs. SBI Life - Smart Wealth Builder, a unit linked, non participating, insurance plan is an attempt to meet all your financial & insurance needs through a single product. You can use it the way you like. You can choose your required life insurance cover subject to a minimum and a maximum level. 

Key Features

Guaranteed Additions (Conditions Apply#) up to 125% of one annual regular premium on a regular premium policy, for a 30 year policy term, subject to the Policy being in force till the maturity date.
Guaranteed Additions# starting as early as 10th policy year onwards

No Policy Administration fees for first 5 years for Regular and Limited Premium Paying Term (LPPT) plans, thereby boosting your fund value

No Premium Allocation Charge from 11th year onwards 

Enhanced investment opportunity through 7 varied Fund Options 

Life Insurance coverage, with minimum Sum Assured based on your age

Flexible product with an option to increase/decrease your Sum Assured from 6th policy year onwards

Product Snap Shot

Age at Entry Min: 7 years
Max: For Regular Premium & Limited Premium: 60 years
For Single Premium: 65 years
Age at Maturity 70 years
Plan Type Regular Premium / Limited Premium / Single Premium
Policy Term Regular & Limited Premium Payment - 10 years, 15 to 30 years (both inclusive) Single Premium - 5 to 30 years
Premium Payment Term For LPPT:
5/8 Years for Policy Term of 10 Years. 
5/8/10 Years for Policy Term of 15-30 Years (both inclusive) 
Regular Premium - Same as Policy Term 
Single Premium - One-time payment at policy inception
Premium Range (X 100)
Plan Type Premium Frequency Minimum Maximum
Regular premium Annual Rs. 30,000 Maximum
Limited premium Annual Rs. 40,000
Single premium Single Rs. 65,000
Premium Modes Single/Yearly
Sum Assured
Premium Mode Minimum (in Rs.) Maximum (in Rs.)
Age below 45 years Age 45 years or above Age below 45 years Age 45 years or above
Regular Premium Higher of[(10 x AP ) or (0.50 x Term x AP)] Higher of(7 x AP) or (0.25 x Term x AP)] 20 x AP 20 x AP
Limited Premium 15 x AP 15 x AP
Single Premium 1.25 x SP 1.1 x SP 3 x SP 1.25 x SP

Benefits

Maturity Benefit: (Applicable only for in-force policies): On completion of Policy Term, Fund Value will be paid.

Death Benefit: (Applicable only for in-force policies): Higher of the Fund Value or Sum Assured## is payable; with a minimum of 105% of total basic premiums paid till the date of intimation of death.

Tax Benefits:
Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured

SBI Life Smart Wealth Assure SBI Life Smart Wealth Assure
Introduction

SBI Life - Smart Wealth Assure is a Unit Linked non-participating Life Insurance Plan. It is a single premium plan, wherein you have to pay premiums once and you can continue to enjoy the benefits throughout the policy term.

The plan helps you to enjoy market related returns along with insurance cover, with just a single premium

Key Features

Option to choose a mix of funds providing Market Linked Returns 

Market Linked Returns provided through 2 funds – Bond Fund & Equity Fund to give you the best possible returns

Pay only once and get the benefits throughout the Policy Term Liquidity through Partial Withdrawal(s)

Option to customize the product with Accidental Death Benefit Option

Product Snap Shot

Age at Entry Min: 8 years
Max: 65 years
Age at Maturity 75 years
Policy Term 10 to 30 Years (both inclusive)
Premium Payment Term Single Premium (SP)
Single Premium Amount (X 100) Min: Rs 50,000 
Max: No limit
Sum Assured Min:
For Ages  below 45 yrs : 1.25 x SP
For Ages  45yrs & above: 1.10 x SP
Max
For Ages  below 45 yrs : 5 x SP
For Ages  45yrs & above: 3 x SP

Benefits

Maturity Benefit: On completion of Policy Term, Fund Value will be paid. 

 Death Benefit: Higher of the Fund Value or Sum Assured## is payable; with a minimum of 105% of Single premium paid. Accidental Death Benefit Option: Provides additional death benefit if the death occurs as a result of an accident.

Tax Benefits:
Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.

SBI Life Saral Maha Anand SBI Life Saral Maha Anand
Introduction

SBI Life - Saral Maha Anand is a product created just for you, which will pleasantly surprise you with its sheer Simplicity and Convenience! It is a unit linked, non participating life insurance plan, which lets you manage your investments according to your risk appetite, giving you the power to realise market related returns on your policy. You can choose your required life insurance cover subject to a minimum and a maximum level.

Key Features

No medical examination, Simple joining process 

Guaranteed Additions of up to 30% of one annual premium, for a 20 year policy term, subject to the Policy being in force till the maturity date.

3 fund options, to enjoy market related returns as per your risk appetite. 

No Premium Allocation Charge from 11th year onwards, thereby boosting your fund value

Liquidity through partial withdrawals

Twin Benefit of Market linked returns & insurance cover

Product Snap Shot

Age at Entry Min: 18 years
Max: 55 years
Max. Age at Maturity 65 years
Policy Term 10 years / 15 years / 20 years
Premium Range (x100)
Premium Frequency Minimum (in Rs.) Maximum (in Rs.)
Yearly 15,000 29,000
Half-yearly 9,500 14,500
Quarterly 5,500 7,200
Monthly 2,000 2,400
Premium Modes Yearly / Half-yearly / Quarterly / Monthly
Sum Assured
Minimum (in Rs.) Maximum (in Rs.)
Age below 45 years Age 45 years or above Age below 45 years Age 45 years or above
10 x AP 7 x AP 20 x AP 20 x AP

Benefits

Maturity Benefit: On completion of Policy Term, Fund Value will be paid.

 Death Benefit: Higher of the Fund Value or Sum Assured# is payable; with a minimum of 105% of total basic premiums paid till the time of death

Rider Benefits: 
SBI Life - Accidental Death Benefit Linked Rider: Provides additional death benefit, if the death occurs as a result of an accident.

Tax Benefits Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.

SBI Life Smart Scholar SBI Life Smart Scholar
Introduction

Life begins afresh when you become a parent. It’s a joy you never felt and a feeling you never experienced. When your child takes baby steps towards you, nothing seems more blissful.

With this divine happiness comes a new sense of responsibility that’s close to your heart. You want to make your child’s life a bed of roses or a tender cushion.

At SBI Life, we understand your needs and provide you with a flexible and all-encompassing solution: SBI Life - Smart Scholar, a non participating Unit Linked Insurance Plan.

Secure your child’s future by gaining from the financial markets. Our specially crafted Smart Scholar Plan is as accommodating as you are to your child.

Key Features

Secure your child’s future by gaining from the financial markets and much more.

 Dual protection for your family, in case you are not around –

Payment of base Sum Assured and Inbuilt Premium Pay or Waiver benefit to ensure continuance of your policy

In addition, Accident Benefit which includes Accidental Death benefit and Accidental Total and Permanent Disability (Accidental TPD) benefit, is an integral part of the plan

 Depending upon the term of the policy, Loyalty Additions would be paid periodically, for in-force policies.

Enhanced investment opportunity through 7 varied fund options

Twin benefits of market linked return & insurance benefit

Liquidity through partial withdrawal(s)

Product Snap Shot

Age at Entry
Child: Min:0 years Max: 55 years
Proposer: Min: 18 years Max: 57 years
Max. Age at Maturity 65 years
Policy Term Min: 8 years
Max: 25 years less child’s age at entry
On Maturity, the age of child should be between 18 to 25 years
Premium Payment Terms (PPT) Single Premium (SP)
5 to 25 years (subject to the limits of policy term)
Premium Amounts(x100) Minimum:
PPT Frequency Minimum(Rs)
SP Single 75,000
5 years to 7 years Yearly 50,000
Half Yearly 25,000
Quarterly 12,500
Monthly 4,500
8 years or more Yearly 24,000
Half Yearly 25,000
Quarterly 12,500
Monthly 4,000
Maximum : No Limit
Sum Assured For Single Premium:
Minimum Maximum
Across all ages Age<45 years Age=>45 years
1.25 * SP 5 * SP 1.25 * SP

For other PPTs:
Minimum Maximum
Age<45 years Age=>45 years Across all ages
Higher of: 10 * AP or ½ * T * AP 7 * AP 20 * AP

Benefits

Maturity Benefit: On completion of Policy Term, Fund Value will be paid

Death Benefit:

  • In the event of unfortunate death of life assured, a lump sum benefit equal to higher of the Sum Assured or 105% of all premiums paid till date of death will be payable.
     The company continue’s to pay your future premium(s) on your behalf (inbuilt Premium Payor Waiver Benefit) and the accumulated fund value will be paid at maturity.
  • The Accident Benefit and Premium Payor Waiver Benefit are not available in the Single Premium policies.

Tax Benefits

  • Tax deduction under Section 80C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured
  • Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt
  • 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 details

SBI Life Smart EliteSBI Life Smart Elite
Introduction

SBI Life - Smart Elite is a Unit Linked Insurance plan - an exquisitely crafted product, exclusively for special customers like you. It gives you flexibility to pay premium(s) for limited term or single premium, with the freedom to stay invested and protected for long term. What’s more, you have the power of choosing the option best suited to your needs, at a very competitive rate. All this and more, coming from SBI Life – your preferred insurer, adds value to your investments.

Key Features

Pay premiums only for a limited term of 5, 8 or 10 years or a Single Payment, as per your need and enjoy benefits throughout the chosen policy term.

 No Premium Allocation Charges from 6th policy year onwards, thereby enhancing your fund value

Two protection options available: Gold Option & Platinum Option

Invest in wide range of funds and manage them as per your convenience.

 Life Insurance coverage with minimum Sum Assured of 10 or 7 times of your Annual Premium (AP), based on your age.

Switch and redirection facility, to pilot your investments.

Option to increase/decrease your Sum Assured from 6th policy year onwards.

Accidental Death and Accidental Total and Permanent Disability (Accidental TPD) benefit automatically comes to you as an integral part of the plan!

Product Snap Shot

Age at Entry Min: 18 years
Max: 60 years
Age at Maturity 65 years
Policy Term 5 to 20 years (both inclusive)
Premium Payment Term For Limited Premium Payment Term (LPPT) - 5 or 8 or 10 years.
For Single Premium - Single Payment.
Minimum Limited Premium Amount (X 100) 
Yearly Rs 150,000
Half-yearly Rs 75,000
Quarterly Rs 37,500
Monthly Rs 12,500
Minimum Single Premium Amount (X 100) Rs 200,000
Maximum Limited/Single Premium Amount (X 100) No limit
Premium Modes Single /Yearly /Half-yearly /Quarterly / Monthly
Sum Assured Minimum:
For LPPT
For Ages  below 45 yrs : 10 x Annual Premium (AP)
For Ages  45yrs & above: 7 x AP 

For Single Premium (SP) -
For Ages below 45 yrs : 1.25 x SP
For Ages 45yrs & above: 1.10 x SP

Maximum:
For LPPT - For All Ages - 20 x AP
For SP – For All Ages - 5 x SP

Benefits

Maturity Benefit: On completion of Policy Term, Fund Value will be paid.

Death Benefit:

  • For Gold Option: Higher of Fund Value or Sum Assured# is payable; with a minimum of 105% of total premiums paid till the time of death.
  • For Platinum Option: Fund Value plus Sum Assured is payable; with a minimum of 105% of total premiums paid till the time of death.

In-built Benefit:

  • Accidental Death and Accidental Total and Permanent Disability (Accident Benefit):Provides an additional benefit for Accidental Death or Accidental TPD

Tax Benefits

  • Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
  • Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.

SBI Life Smart Power Insurance SBI Life Smart Power Insurance
Introduction

To have a secure future, which takes care of the financial needs of the family in case of any eventuality and to meet life’s various goals, it is important that one starts saving early and regularly.

We present to you, SBI Life - Smart Power Insurance, a non-participating unit linked insurance plan which takes care of your insurance as well as investment needs. The product comes to you at reasonable premium and is in tune with the current investment scenario. It is a flexible product, which also takes care of your liquidity needs. Additional protection requirement, due to changing personal and/or financial circumstances, is also taken care by the product.

Key Features

Two Plan Options to choose from:

  • Level Cover Option - Sum Assured chosen at inception remains the same through out the policy term
  • Increasing Cover Option - The initial Sum Assured increases by 10%, without any additional underwriting, starting from 6th policy year and after every 5 years thereafter

 Advantage of Advancing the Policy Benefit to become your Living Benefit, through our Inbuilt Accelerated Total & Permanent Disability (TPD) benefit

Two Fund options to choose from

  • Trigger Fund Option - Advantage of ’Buying Low and Selling High’
  • Smart Funds Option - Option to choose from 7 varied funds

Flexibility through 2 free switches in a policy year

 Liquidity through Partial Withdrawal(s)

Product Snap Shot

Age at Entry Min: 18 years
Max: 45 years
Age at Maturity 65 years
Policy Term 10 years, 15 to 30 years (both inclusive)
Premium Payment Term Same as policy term
Premium Amount (X 100)
Min: Max:
Yearly Rs 15,000 No limit
Half-yearly Rs 9,500 No limit
Quarterly Rs 5,500 No limit
Monthly Rs 2,000 No limit
Premium Modes Yearly/Half-yearly/Quarterly/ Monthly
Sum Assured Min: Higher of [(10 x AP) or (0.50 x Term x AP)]
Max: 20 x AP
Note: The Sum Assured can never go beyond Rs. 1 Crore at any point of time

Benefits

Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. 

Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.

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 details