SBI Life - Smart Income Protect

SBI LIFE - SMART INCOME PROTECT

"Enjoy the benefit of regular payouts"
1. Regular annual income
2. Regular simple reversionary bonuses
3. Three rider options

An Individual, Non-linked, participating life insurance savings product

Does your existing life insurance plan also provide regular cash inflow to meet various life obligations?

SBI Life - Smart Income Protect, an Individual, Non-linked, participating life insurance savings product, offers dual benefits of life cover and regular cash inflow over a period of 15 years.

This savings plan offers -
1. Security - life cover throughout the policy term
2. Reliability - regular annual income
3. Flexibility - choice of three riders

Enter your information in the benefit illustrator below to see how you can receive regular income with SBI Life - Smart Income Protect.
Celebrate life with the confidence to meet its varied demands.

HIGHLIGHTS

1. Savings Plans
2. SBI Life - Smart Income Protect
3. Income Plan
4. Traditional Plan
5. Participating Plan

Features & Advantages

Features
1. Life cover throughout the policy term
2. Vested reversionary bonuses plus terminal bonus, if any, paid as lump sum at maturity
3. Annual income of 11% of Basic Sum Assured over a period of 15 years after maturity
4. Policy term of 7, 12 or 15 years
5. Three rider options

Advantages
Security
1. Ensure your family's financial needs are met

Reliability
1. Regular annual income to meet your obligations, with an option to receive the same as a lump sum, at maturity

Flexibility
1. Choose the policy term based on your financial needs
2. Enhance your coverage through three rider options at an nominal cost
a. SBI Life - Preferred Term Rider
b. SBI Life - Accidental Death Benefit Rider
c. SBI Life - Accidental Total and Permanent Disability Benefit Rider

Avail tax benefits*

Plan Benefits

On Maturity:
1. You get Vested Reversionary Bonuses plus Terminal Bonus, if any, at maturity
2. You will be paid yearly payouts equal to 11% of basic Sum Assured for next 15 years after maturity. This period of 15 years is your payout period. The first instalment will be paid at the end of first year during the payout period.
3. Alternatively, you have an option to receive the maturity benefit as lump sum, The maturity benefit in this case would be guaranteed sum assured at maturity which will be 110% of basic sum assured plus vested reversionary bonuses plus terminal bonus, if any.

On Death:
1. In the unfortunate event of death of life assured during the policy term, the nominee will receive higher of (A,B), where:

A = Sum Assured on death + Vested Reversionary Bonuses + Terminal bonus, if any.

Where Sum Assured on Death is Guaranteed sum assured at maturity@@ or 10 times of annualized premium@

B = Minimum death benefit which is equal to 105% of total premiums received up to date of death.

Where Total Premiums received/paid means total of all the premiums received, excluding any extra premium, any rider premium and applicable taxes.

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

@@The guaranteed sum assured at maturity is 110% of the basic sum assured

In case of death during the payout period, all future payouts will continue to be paid to the nominee or legal heir.

Who can buy?