SBI Life - Smart Income Protect is an individual, non-linked participating life insurance savings product that provides both life insurance coverage and regular cash payments. The product offers policy terms of 5, 7, or 15 years, with premiums and guaranteed annual payouts lasting the same duration. At maturity, any vested bonuses are paid as a lump sum, or the guaranteed maturity benefit of 110% of the basic sum assured plus bonuses can be received. The product allows for customizing coverage through optional riders and provides guaranteed annual payouts of 11% of the basic or paid-up sum assured.
SBI Life - Smart Income Protect is an individual, non-linked participating life insurance savings product that provides both life insurance coverage and regular cash payments. The product offers policy terms of 5, 7, or 15 years, with premiums and guaranteed annual payouts lasting the same duration. At maturity, any vested bonuses are paid as a lump sum, or the guaranteed maturity benefit of 110% of the basic sum assured plus bonuses can be received. The product allows for customizing coverage through optional riders and provides guaranteed annual payouts of 11% of the basic or paid-up sum assured.
SBI Life - Smart Income Protect is an individual, non-linked participating life insurance savings product that provides both life insurance coverage and regular cash payments. The product offers policy terms of 5, 7, or 15 years, with premiums and guaranteed annual payouts lasting the same duration. At maturity, any vested bonuses are paid as a lump sum, or the guaranteed maturity benefit of 110% of the basic sum assured plus bonuses can be received. The product allows for customizing coverage through optional riders and provides guaranteed annual payouts of 11% of the basic or paid-up sum assured.
SBI Life - Smart Income Protect is an individual, non-linked participating life insurance savings product that provides both life insurance coverage and regular cash payments. The product offers policy terms of 5, 7, or 15 years, with premiums and guaranteed annual payouts lasting the same duration. At maturity, any vested bonuses are paid as a lump sum, or the guaranteed maturity benefit of 110% of the basic sum assured plus bonuses can be received. The product allows for customizing coverage through optional riders and provides guaranteed annual payouts of 11% of the basic or paid-up sum assured.
(An Individual, Non-Linked Participating Life Insurance Savings Product)
INTRODUCTION SBI Life - Smart Income Protect is an Individual, Non-Linked Participating Life Insurance Savings Product designed to provide the life cover and regular cash inflow at the time you need. It is a participating traditional plan where you continue to pay your regular premiums over a period of 5, 7 or 15 years. Thereafter your payout period starts, where you get guaranteed (Conditions apply*) regular annual payouts over a period of 15 years, meeting your various financial obligations.
KEY FEATURES • Plan that provides Insurance Cover and Regular Income. • Choose your policy term from 5 years, 7 years or 15 years. • Premium payment term will be same as policy term chosen by you. • Vested Reversionary bonuses plus Terminal bonus, if any, will be paid as lump sum at the end of the policy term, at maturity. • Guaranteed annual payouts of 11% of Basic Sum Assured/Paid up Sum Assured on maturity • Alternatively, you have an option to receive maturity benefit in a lump sum. The maturity benefit in this case would be guaranteedsum assured at maturitywhich is 110% of basic sum assured plus vested reversionarybonuses plus terminal bonus, if any. • Customize your coverage through a wide range of rider benefits: SBI Life - Accidental Death Benefit Rider (UIN 111B015V03), SBI Life - Accidental Total and Permanent Disability Benefit Rider (UIN 111B016V03), SBI Life - Preferred Term Rider (UIN 111B014V02). *Provided, at Maturity if the policy is in-force or Paid-up.
PRODUCT SNAPSHOT:
Policy term (years) Minimum Maximum
5 11 75 Age^ at Entry 7 8 58 15 8 53
Age^ at Maturity Minimum: 18 years Maximum: 75 years
Basic Sum Assured Minimum: `1,00,000/- (x 1,000/-) Maximum**: No Limit Policy Term 5/7/15 years Premium Frequency Yearly / Half-yearly / Quarterly / Monthly# Premium Frequency Loading Half-Yearly: 51.00% of annualized premium Quarterly: 26.00% of annualized premium Monthly: 8.50% of annualized premium Payout Period 15 years Payout Frequency Yearly **The maximum sum assured would be subject to board approved underwriting policy. The maximum premium would be based on the sum assured offered. ^All the references to age are age as on last birthday. # Upto 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), upto 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction.
1800 267 9090
(Between 9:00 am to 9:00 pm)
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. For more details on Riders, terms and conditions, please read rider brochure. Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details. Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license. SBI Life Insurance Company Limited. Registered and Corporate Office: Natraj, M V Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069. IRDAI Regn. No.111 | CIN: L99999MH2000PLC129113. 1B.ver.01-02-20 F ENG
