SBI Life - Smart Humsafar

SBI LIFE - SMART HUMSAFAR

"Promises for happiness, prosperity and security."
1. Life insurance cover for spouses
2. Premium waiver benefit
3. Additional rider option
4. Discount on large sum assured

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

You promised to take the journey of life together, come what may. Are you ready to join hands and fulfill each other's dreams and goals?
Achieve every dream with SBI Life - Smart Humsafar, a unique life insurance with saving product. Avail of the twin benefits of insurance cover and savings under a single policy for both you and your spouse.

This plan offers -
1. Security - by protecting your spouse and yourself in case of an eventuality
2. Reliability - through the premium waiver benefit
3. Flexibility - to include additional rider benefits
4. Simplicity - of covering two individuals under one policy

Try our benefit illustrator below, and see how you can enjoy the advantages of this plan.
Secure your lives and celebrate your togetherness.

HIGHLIGHTS
1. SBI Life - Smart Humsafar
2. An Individual
3. Non-linked
4. Participating Life Insurance Savings Product

Features & Advantages

Features
1. A joint life insurance with savings product that provides coverage for you and your spouse
2. Guaranteed minimum bonuses for first 3 policy years @ 2.50% of the Basic Sum Assured^ for in-force policies
3. Premium waiver benefit in case of death of any one of the lives assured for in-force policies
4. Additional rider benefits
5. Single application for both lives

Advantages
Security
1. Dual protection to safeguard your family's future

Reliability
1. Assurance that your plan benefits will continue even in the case of an eventuality

Flexibility
1. Option of SBI Life - Accidental Death Benefit Rider for comprehensive coverage
2. Choose policy term as per your convenience

Simplicity
1. Get your spouse and yourself insured with one single policy

Avail tax benefits*

Plan Benefits

Maturity Benefit:
If either or both of the lives assured survives till maturity then Basic Sum Assured^ + Vested Simple Reversionary Bonuses + Terminal bonus, if any, will be paid provided the policy is in-force.

Death Benefit:
First death:
1. If your policy is in-force as on the date of first death: Higher of A or B is paid to the surviving life assured.
A. Sum assured on death:
Sum assured on death is higher of Basic Sum Assured^ or 10 times of annualized premium (AP)+

B.105% of the total premiums received& up to the date of death under the base policy.

2. Further, all future premiums starting from the next policy anniversary will be waived off for the surviving life assured. Waiver of premium will take place only if the policy is in-force for the full sum assured at the time of first death.

Second death:
1. If your policy is in-force as on the date of second death: Higher of A or B is paid to the nominee.
A. Sum assured on death:

Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any.
Sum assured on death is higher of Basic Sum Assured^ or 10 times of annualized premium (AP)+
B .105% of the total premiums received& up to the date of death under the base policy.

&Total Premiums received / paid means total of all the premiums received, excluding any extra premium and applicable taxes.
Rider Benefit:
Either of the lives assured or both lives assured have an option of availing SBI Life - Accidental Death Benefit Rider at an affordable cost. The rider benefit will be payable in respect of each of the life assured.

The rider cover is available only for in-force policies and till the policy anniversary following first death. However, if both lives assured have chosen rider and
1. both die simultaneously as a result of accident, or
2. die on different dates as a result of same accident , or
3. die during the same policy year as a result of different accident

then rider benefit will be paid in respect of both lives assured, provided the accident happens within the policy term and the death due to accident happens within 120 days from the date of accident irrespective of expiry of policy term.

The rider benefits can be taken up only at the inception of the policy. However, the benefits may be terminated by stopping the premium payment for the rider. The base policy may however be continued.

Who can buy?



^^All the references to age are age as on last birthday.
#For Monthly mode, Up to 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card).For Monthly Salary Saving Scheme (SSS), up to 2 months premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction.
##equivalent age for both the lives at inception of the policy plus policy term cannot be more than 65 years. Equivalent age of joint lives is equal to the age of the younger life plus an addition depending on the age difference.

^Basic sum assured is the absolute amount of benefit, which is guaranteed to become payable on maturity and as chosen by the policyholder at the inception of the policy.

+Annualized premium is the premium amount payable in a year chosen by the policyholder, excluding the applicable taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

**Assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates after considering all applicable charges. The bonus rates are assumed constant during the bonus accrual period, where as actual bonus could vary, depending on the investment experience of the Company. These are not guaranteed and they are not higher or lower limits of returns. Returns are dependent on a number of factors including future investment performance.

*Tax Benefit:
You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details here. Please consult your tax advisor for details.