This is one of the Child’s Plans of Sbi Life Insurance. This is a traditional participating plan. SBI Life - Scholar II has guaranteed benefits which are payable at the regular intervals during the term of the policy. In an unfortunate event, your nominee would receive full Sum Assured along with vested bonus, plus regular guaranteed survival benefit.

Primary characteristics of SBI Life Scholar-II Plan:
Among the uncertainties of life you will get double benefits of saving for your child’s education and securing a bright future. You will also get full risk cover throughout the policy term irrespective of payment of survival benefits installments. There is option to receive the installments in lump sum at the due date of first installment of Survival benefit.. There is rebate for Female lives and High Sum Assured and 15 days Free Look Period.

Clear picture of SBI Life Scholar-II Plan:
Term:
Premium Payment Term (PPT) : 18 - Childs Age at entry
Policy Term : 21 - Childs Age at entry (You are covered till the child attains 21 years of age)

Premium:
Premium Mode : Monthly / Quarterly / Half Yearly / Yearly (Single Premium also available)

Age ( As on Last Birthday):
Entry Age ( Life Assured ) : Minimum: 18 years ; Maximum: 60 years
Entry Age ( Child) : Minimum: 0 years ; Maximum:15 years
Maximum Age at Maturity (Life Assured) : 70 years

Sum Assured:
Minimum Sum Assured: Rs 50,000/-
Maximum Sum Assured: Rs 1 Crore

Riders Available:
SBI Life - Dhanavantri Supreme - Individual Critical Illness (CI Rider) (UIN : 111C004V02)
SBI Life - Accidental Death and Permanent Disability (AD & PD ) Rider (UIN: 111C001V01)
SBI Life - Premium Waiver Benefit (PWB) Rider ( Individuals) ( UIN : 111B005V01)
Note: -
For monthly mode, 3 months premium to be paid in advance and renewal premium payment is allowed only through ECS, Credit card, Direct debit and SI-EFT


Benefits of SBI Life Scholar-II Plan:
Payment at regular intervals has been guaranteed by SBIlife insurance. When the child attains 18 years of age, the parent has an option of: Receiving the Sum Assured in 4 installments:
Age : Guaranteed Benefit Payment
18 years : 25 % of Sum Assured
19 years : 25 % of Sum Assured
20 years : 25 % of Sum Assured
21 years : 25 % of Sum Assured

Receiving the Survival Benefits in a single installment along with the Vested Bonus* (Policy terminates thereafter)
*Vested bonus is the total amount of bonus accrued till date, under the policy.

DEATH BENEFIT :
In the event of unfortunate incident of your early death during the term of the plan, your child’s future remains secured in 3 ways:
• Child future educational needs: 25% of Sum Assured is payable in 4 equal installments when the child attains the age 18 years to 21 years. This ensures the child’s higher educational needs are met.
• Immediate Payment: The nominee receives the Sum Assured along with the bonus declared until that date.
• All future basic premiums need not be paid: Ensuring that your family is not financially burdened in your absence.
Tax Benefits:
• Tax benefit u/s 80C and 10(10 D) of the Income Tax Act*
• Premiums paid for Critical Illness Benefit qualify for tax exemption under Sec 80D*

*Tax benefits are subject to change in tax laws. Please consult your tax advisor for details.

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