SBI LIFE Insurance have many policies under their Individual Plans. The details of each policy under this category is given below. Please go through it and select the one which is best suitable to you. The policies under the Individual Plans are:
1. Unit Linked Insurance Plans:
Unit Linked Insurance Plans (ULIP) are long term investment plans cum protection plans that can give you the returns linked with the market while providing you life insurance protection. Depending on how much risk you can take, you can choose from the host of funds which have varied degrees of risk exposure. Among some of the attractive features, flexibility and transperency of this plan that make ULIP a long term attractive investment option. To help you to fulfil your long term desires and dreams, SBI Life presents you a wide range of ULIPs so that you can continue to enjoy and celebrate life.
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SBI life presents the following options under ULIPs:
SBI Life - Smart Performer:
A non-participating Unit Linked Life Insurance Plan
Main Features of this Plan:
• Guarantee at maturity based on ’5% Higher than Highest Guaranteed NAV’ during the first seven years or prevailing NAV at Maturity, whichever is higher, subject to conditions#.
• Enjoy the best of both worlds - Guarantee only or Guarantee and Market Upside through our unique Plan offerings - ‘Secure Plan’ and ‘Secure N Grow Plan’ respectively
• ‘Automatic Rebalancing’ to Lock-in your gains
• Convenience through single premium (SP) or 5 year Premium Paying Term (PPT)
• Life Insurance coverage with minimum Sum Assured of 10 times or 7 times of your Annualised Premium (AP), based on your age.
• Liquidity through Partial Withdrawal(s)
• Option to customize the product with Accidental Death Benefit
• Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions **
SBI Life - Smart Performer:
A non-participating Unit Linked Life Insurance Plan
Main Features of this Plan:
• Guarantee at maturity based on ’5% Higher than Highest Guaranteed NAV’ during the first seven years or prevailing NAV at Maturity, whichever is higher, subject to conditions#.
• Enjoy the best of both worlds - Guarantee only or Guarantee and Market Upside through our unique Plan offerings - ‘Secure Plan’ and ‘Secure N Grow Plan’ respectively
• ‘Automatic Rebalancing’ to Lock-in your gains
• Convenience through single premium (SP) or 5 year Premium Paying Term (PPT)
• Life Insurance coverage with minimum Sum Assured of 10 times or 7 times of your Annualised Premium (AP), based on your age.
• Liquidity through Partial Withdrawal(s)
• Option to customize the product with Accidental Death Benefit
• Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions **
A Clear Picture of the Product :
1. Age at Entry* : Min:9 years, Max: 65 years.
2. Age at Maturity: Max: 75 years.
1. Age at Entry* : Min:9 years, Max: 65 years.
2. Age at Maturity: Max: 75 years.
3. Premium Payment Term: SP or 5 years.
4.1. Minimum Limited Premium Amounts (x 100 ).
- Yearly Rs 50,000/-
- Half-yearly Rs 40,000/-
- Quarterly Rs 36,000/-
- Monthly Rs 20,000/-
4.2. Minimum Single Premium (x 100) : Rs 60,000/-.
4.3. Maximum Limited/ Single Premium Amounts : No limits.
5. Policy Term : 10 years from the start of the subscription period.
6. Premium Modes : Single/ Yearly/ half Yearly/ Quarterly/ Monthly **
7. Sum Assured:
7.1. Age/PPT : Below 45 yrs.
For 5 yr PPT : MIN: 10 * AP, MAX: 20 * AP
For SP : MIN : 1.25 * SP, MAX : 5 * SP
7.2. Age/PPT : Between 45 yrs and 60 yrs.
For 5 yr PPT : MIN : 7 * AP, MAX : 20 * AP
For SP : MIN : 1.25 * SP , MAX : 5 * SP
7.3. Age/PPT : 61 yrs and above.
For 5 yr PPT : MIN : 7 * AP, MAX : 7 * AP
For SP : MIN : 1.25 * SP, MAX : 1.25 * SP
8. Plan Options : There are 2 (two) Plan options:
- Secure Plan - All your funds will be invested in the Daily Protect Fund.
- Secure N Grow Plan - 80% of your funds will be invested in the Daily Protect Fund and 20% will be invested in the index Fund.
* All the ages as refered will be the age on the last birth day.
*** For Monthly Mode, 3 (three) months premium to be paid in advance and renewal premium is allowed only through ECS, Credit Card, Direct debit and SI-EFT.
Benefits of this Plan (Policy):
Following are the benefits of this Plan:Maturity Benefit: On completion of Policy Term, Maturity Value will be paid.
Maturity value for the Daily Protect Fund will be calculated based on NAV which is higher of:
• Prevailing NAV as on date of Maturity OR
• Higher than Highest Guaranteed NAV: There will be an increment of 5% to the Highest NAV achieved during the first seven years under the ‘Daily Protect Fund’.
• In addition, if there are any units in the Index Fund, the Fund value of such units, calculated at the Prevailing NAV would also be added, in order to arrive at the Maturity Value
Death Benefit: Higher of the Fund Value or Sum Assured## is payable; subject to a minimum of 105% of the total premiums paid## at the time of death. The death benefit is payable only for
inforce policies.
Accidental Death Benefit Option: Accidental Death Benefit: Provides additional death benefit if the death occurs as a result of an accident.
Note:
Daily Protect Fund - III (SFIN : ULIF020010911DLYPRO3FND111)
Index Fund (SFIN : ULIF015070110INDEXULFND111)
# The Guaranteed NAV is applicable onlyin respect of the Daily Protect Fund (and the applicable
series of the fund) andshall be available only at maturity, and shall be further subject to the
Policy being in force till the maturity date. Guarantee charge of 0.50%p.a. of Daily Protect Fund
(applicable series) value, would berecovered from the fund (through cancellation of units) to
provide theNAV guarantee.
## Net of partial withdrawals
**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.
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