SBI Life - Smart Elite is a Unit Linked Insurance plan - a delicately fashioned product, like, It has flexibility to pay premium(s) for limited term or single Premium, with the exemption to stay invested and protected for long term. The customers have the ability of selecting the option best suited to their needs.
The Prominent aspect of this Plan:
1. The premiums only may be oaid for a limited term of 5, 8 or 10 years or a Single Payment, as per convenience and the benefits may be enjoyed throughout the opted policy term.
2. The Premium Allocation Charges are not required from 6th policy year onwards, thereby enhancing the fund value.
3. Two protection options are available: (1) Gold Option & (2) Platinum Option.
4. Investment can be made in wide range of funds and can be managed them as per convenience of the customer.
5. Life Insurance is covered with minimum Sum Assured of 10 or 7 times of your Annual Premium (AP), based on the age.of the customer.
6. Flip and redirection facility of this plan, allows to cow watch your investments.
7. There is option to increase or decrease the Sum Assured from 6th policy year onwards.
8. Accidental Death and Accidental Total and Permanent Disability (Accidental TPD) benefit automatically comes to the policy holder as an integral part of the plan.
9. Appealing Tax benefits are available under the Income Tax Act, 1961, but subject to change in tax laws. Please consult your tax advisor for details.
The Prominent aspect of this Plan:
1. The premiums only may be oaid for a limited term of 5, 8 or 10 years or a Single Payment, as per convenience and the benefits may be enjoyed throughout the opted policy term.
2. The Premium Allocation Charges are not required from 6th policy year onwards, thereby enhancing the fund value.
3. Two protection options are available: (1) Gold Option & (2) Platinum Option.
4. Investment can be made in wide range of funds and can be managed them as per convenience of the customer.
5. Life Insurance is covered with minimum Sum Assured of 10 or 7 times of your Annual Premium (AP), based on the age.of the customer.
6. Flip and redirection facility of this plan, allows to cow watch your investments.
7. There is option to increase or decrease the Sum Assured from 6th policy year onwards.
8. Accidental Death and Accidental Total and Permanent Disability (Accidental TPD) benefit automatically comes to the policy holder as an integral part of the plan.
9. Appealing Tax benefits are available under the Income Tax Act, 1961, but subject to change in tax laws. Please consult your tax advisor for details.
A Clear Picture of the Product:
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
[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]
Sum Assured:-
Minimum:
For LPPT-
For Ages below 45 yrs : 10 * Annual Premium (AP)
For Ages 45yrs & above: 7 * AP
For Single Premium (SP) –
For All Ages : 1.25 * SP
Maximum:
For LPPT - For All Ages - 20 * AP
For SP – For All Ages - 5 * SP
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
[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]
Sum Assured:-
Minimum:
For LPPT-
For Ages below 45 yrs : 10 * Annual Premium (AP)
For Ages 45yrs & above: 7 * AP
For Single Premium (SP) –
For All Ages : 1.25 * SP
Maximum:
For LPPT - For All Ages - 20 * AP
For SP – For All Ages - 5 * 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.
