SBI Life - Flexi Smart Plus (UIN : 111N093V01)

(Product Code : 1M)

Brochure | Policy Document | Customized Benefit Illustrator | Email | Ask for a Visit | For NRIs

Mortality Rates for SBI Life - Flexi Smart Plus Introduction Key Features Plan at a Glance Benefits

Introduction:   SBI Life - Flexi Smart Plus is Individual, Participating, Variable Insurance Product, which helps you in fulfilling your dreams. It also gives you flexibility to adapt to your ever-changing needs, while assuring guaranteed benefits to take care of your savings.

Key Features:

• Guaranteed Minimum Bonus Interest rate* Conditions apply A minimum bonus interest rate of 1.00% p.a. is guaranteed for the whole term.   • Interim bonus interest rate An Interim bonus interest rate will be declared at the beginning of each financial year which will apply to the policies exiting during the financial year.   • Regular Bonus Interest rate Regular Bonus interest rate will be declared at the end of every financial year.   • Terminal Bonus Interest rate Terminal bonus interest rate may be credited to your policy account at the time of exit on account of maturity, death or surrender. Your policy will be credited with the Regular Bonus interest rates and Terminal Bonus interest rate, if any. Regular bonus interest rate once declared becomes guaranteed for the policy account.   • Two Protection option available: Gold Option and Platinum Option   • Partial Withdrawal Partial withdrawals are allowed from the 6th policy year to cater to your liquidity needs.   • Flexibility to increase or decrease your chosen Sum assured   • Flexibility to increase your chosen policy term     * The guarantee is applicable to policies which are in-force and within the revival period.

Plan at a Glance :

Age^ at Entry Min: 18 years Max: 60 years Age^ at Maturity Min: 23 years Max: 65 years Sum Assured Basic Sum Assured = Annualised Basic Premium × SAMF Sum Assured Multiple Factor (SAMF) Min: SAMF Higher of 10 / 7 (age < 45 / age > = 45) OR 0.50/ 0.25(age < 45 / age > = 45) x Policy Term Max: 20 Policy Term Min: 5 years Max: 30 years Premium Paying Term Same as policy term Premium Frequency Yearly / Half-yearly / Quarterly / Monthly# Premium Amounts (in multiples of Rs 100)* *In case of mode change it may be in multiples of Re 1   Min Yearly - Rs 50,000 Half-yearly - Rs 30,000 Quarterly - Rs 20,000 Monthly - Rs 9,000 No Limit

^ 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 is allowed only through Electronic Clearing System (ECS), Credit Card, Direct Debit and SI - EFT.

How does the Plan work? Your Policy Account The policy account represents the value of the fund that belongs to you. The policy account will be credited with the premiums paid, net of all premium allocation charge under the policy, on which the additions as stated below will be credited. All other charges would be recovered from the policy account value. All withdrawals, payouts etc. made to you will also be deducted from your policy account. The various layers of additions which will be applying to the policy account is stated as below -

• The guaranteed minimum bonus interest rate for the product is 1.00% p.a for the whole term.   • In addition to the above, a non-zero positive regular bonus interest rate will be declared at the end of each financial year based on the surplus arising upon the statutory valuation of assets and liabilities.   • An interim bonus interest rate will be declared at the beginning of each financial year which will apply to the policies exiting during the financial year. The bonus interest rate declared at the end of the year will not be less than the interim bonus interest rate.   • At the time of policy exit (maturity/death/surrender), a terminal bonus interest rate may be paid.

Benefits:

• On Death   In case of unfortunate event of death of the Life Assured, the beneficiary will receive the following benefit: For Gold Option: Higher of Policy Account Value or Sum Assured^ / Paid-up Sum Assured^ as applicable or 105% of total premiums paid as on the date of intimation of death claim. ^Sum assured will be reduced to the extent of partial withdrawals made in the last 2 years for age on death below 60 years and for age at death 60 years & above all partial withdrawals made from 58 years onwards. For Platinum Option: Higher of Policy Account Value PLUS Sum Assured / Paid-up Sum Assured as applicable or 105% of total premiums paid as on the date of intimation of death claim.   • On Survival Maturity BenefitOn maturity, the policy holder will be entitled to policy account value including Terminal Bonus interest rate if any, calculated on the maturity date and will be payable as a lump sum on maturity.

• Tax Benefits     • Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.     • Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.     • 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 details.