SBI Life - Smart Bachat is an LPPT* Endowment Plan designed to keep the obligation of paying the premiums over a long term at bay. It helps you to shoulder responsibility of your family and loved ones in case of any exigency. This product comes with two options i.e. Endowment option and Endowment option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit. It also provides you with additional flexibility to choose your premium paying term as per your convenience. With this plan you can safeguard your familyís future along with meeting your investment needs wisely.
Key Features
ï Flexibility to choose from two options depending on your insurance needs
ïOption A: Endowment Option
ïOption B: Endowment Option with in-built AD&TPD Benefit
ï Convenience of choosing
ïPremium Payment Term of 5, 7, 10 and 15 years
ïPolicy Term from 10 to 25 years depending on your financial goals
ï Premium waiver in case of Accidental Total & Permanent Disability (only under Option B)
ï Life cover throughout the policy term i.e. even after the end of Premium Payment Term
ï Rebate on Large Sum Assured
ï Tax benefits** as per prevailing norms under the Income Tax Act, 1961
** Tax benefits, are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for further details.
SBI Life - Smart Bachat at a Glance:
Options Option A: Endowment Option
Option B: Endowment Option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit
Age^ at Entry Minimum:
Option A - 8 years; Option B - 18 years Maximum: 50 years
Maximum Age^ at Maturity 65 years
Sum Assured Minimum: Rs.100,000 (in multiples of Rs. 1,000) Maximum: No Limit
Premium Payment Term and Corresponding Policy Term Premium Paying Term (Years) Policy Term (Years)
5 10 - 25
7 10 - 25
10 15 - 25
15 20 - 25
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly#
Premium Frequency Loading
Half-Yearly: 51.00% of annual premium
Quarterly: 26.00% of annual premium
Monthly: 8.50 % of annual premium
Premium
(applicable for both options) Minimum Maximum
Yearly: Rs. 5,100 No Limit
Half yearly: Rs. 2,600
Quarterly: Rs. 1,350
Monthly: Rs. 450
^All the references to age are age as on last birthday.
#For Monthly mode, 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), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction
How does it work?
The plan offers two options to choose from, depending on your requirement. Option once chosen cannot be changed.
Option A: Endowment Option
This option offers the benefits of wealth creation through Simple Reversionary bonuses and life cover throughout the policy term.
Option B: Endowment Option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit
In addition to benefits as explained under Option A, this option provides you with benefit in case of Accidental Death or Accidental Total and Permanent Disability of the life assured during the policy term.
Key Features
ï Flexibility to choose from two options depending on your insurance needs
ïOption A: Endowment Option
ïOption B: Endowment Option with in-built AD&TPD Benefit
ï Convenience of choosing
ïPremium Payment Term of 5, 7, 10 and 15 years
ïPolicy Term from 10 to 25 years depending on your financial goals
ï Premium waiver in case of Accidental Total & Permanent Disability (only under Option B)
ï Life cover throughout the policy term i.e. even after the end of Premium Payment Term
ï Rebate on Large Sum Assured
ï Tax benefits** as per prevailing norms under the Income Tax Act, 1961
** Tax benefits, are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for further details.
SBI Life - Smart Bachat at a Glance:
Options Option A: Endowment Option
Option B: Endowment Option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit
Age^ at Entry Minimum:
Option A - 8 years; Option B - 18 years Maximum: 50 years
Maximum Age^ at Maturity 65 years
Sum Assured Minimum: Rs.100,000 (in multiples of Rs. 1,000) Maximum: No Limit
Premium Payment Term and Corresponding Policy Term Premium Paying Term (Years) Policy Term (Years)
5 10 - 25
7 10 - 25
10 15 - 25
15 20 - 25
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly#
Premium Frequency Loading
Half-Yearly: 51.00% of annual premium
Quarterly: 26.00% of annual premium
Monthly: 8.50 % of annual premium
Premium
(applicable for both options) Minimum Maximum
Yearly: Rs. 5,100 No Limit
Half yearly: Rs. 2,600
Quarterly: Rs. 1,350
Monthly: Rs. 450
^All the references to age are age as on last birthday.
#For Monthly mode, 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), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction
How does it work?
The plan offers two options to choose from, depending on your requirement. Option once chosen cannot be changed.
Option A: Endowment Option
This option offers the benefits of wealth creation through Simple Reversionary bonuses and life cover throughout the policy term.
Option B: Endowment Option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit
In addition to benefits as explained under Option A, this option provides you with benefit in case of Accidental Death or Accidental Total and Permanent Disability of the life assured during the policy term.
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