 |
| Brochure | Policy Document | Customized Benefit Illustrator | Email | Ask for a Visit | For NRIs |
| |
Introduction
Key Features
Plan at a Glance
Benefits
Rider
|
Introduction
SBI Life - Saral Shield is a traditional
non-participating pure term Insurance plan. At an affordable cost, SBI
Life Saral Shield provides cover for your family and ensures that a
proper safety net is created. Thus, it guarantees that there will be no
compromise on your dreams and ambitions for your loved ones.
|
Key Features |
| |
|
| • |
Hassle-free, convenient and easy issuance.
|
| • |
Financial Security.
|
| • |
Freedom from your liability by choice on one of the following plan options: |
| |
◦ |
Level Term Assurance; |
| |
◦ |
Decreasing Term Assurance (Loan Protection); |
| |
◦ |
Decreasing Term Assurance (Family Income Protection)
|
| • |
Special premium discounts for women
|
| • |
Large sum assured rebates.
|
| • |
Enhance your protection by
availing two riders-SBI Life- Accidental Death Benefit Rider and SBI
Life- Accidental Total and Permanent Disability Rider.
|
| • |
Tax benefits as per prevailing norms under the Income Tax Act, 1961*.
|
|
Plan at a Glance
|
| Age^ at Entry |
Min: 18 years |
Max: 60 years |
| Age^ at Maturity |
Max: 65 years |
| Plan Options |
Level Term Assurance
Decreasing Term Assurance (Loan Protection)
Decreasing Term Assurance (Family Income Protection) |
| Sum Assured (x 50,000/-) |
Min: Rs. 7,50,000 |
Max: Rs. 24,00,000 |
| Policy Term |
Min: 5 years
Max:
Level Term Assurance &
Decreasing Term
Assurance(Family Income
Protection) |
30 years |
Decreasing Term
Assurance(Loan Protection) |
Equal to the outstanding loan term subject to maximum of 30 years |
|
|
| Premium Paying Term |
Regular Premium - pay premium till the chosen policy term
Single Premium - pay premium once for coverage till the chosen policy term
|
| Premium Modes |
For Level Term Assurance:
Single Premium (SP), or
Regular Premium(RP) : Yearly / Half-yearly / Quarterly / Monthly#
For Decreasing Term Insurance (Loan Protection) & Decreasing Term Insurance (Family Income Protection) : Single Premium
|
| Min Premium Amounts |
| Regular Premium: |
|
| Yearly: |
Rs. 2,000/- |
| Half-yearly: |
Rs. 1,100/- |
| Quarterly: |
Rs. 600/- |
| Monthly: |
Rs. 250/- |
| Single Premium: |
Rs. 10,000/- |
|
|
^ 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.
|
| |
| Benefits |
| • |
Death Benefit:
In case of the unfortunate demise of the life assured during the term
of the policy, the nominee will receive the benefits, depending on the
plan option chosen.
|
| • |
Maturity Benefit: No survival benefit available at the end of the term.
|
| • |
Riders |
|
|
• |
SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02)
In case of death due to an accident, the Rider
Sum Assured is payable in addition to normal death benefit.
|
| • |
SBI Life - Accidental Total and Permanent Disability Benefit Rider (UIN: 111B016V02) The
Rider Sum Assured will be paid on the Life Assured being found
eligible for the Total Permanent Disability Benefit as defined in the
policy document.
|
|
Instant Premium Reckoner## |
| |
Age of
Life Assured
(years) |
For SA - Rs. 10 Lakhs |
For SA - Rs. 20 Lakhs |
| Policy Term (in years)/ Premium (in Rs) |
Policy Term (in years)/ Premium (in Rs) |
| 10 |
15 |
20 |
25 |
10 |
15 |
20 |
25 |
| 25 |
NA** |
NA** |
NA** |
2187 |
3120 |
3120 |
3366 |
3774 |
| 30 |
NA** |
2184 |
2457 |
2839 |
3382 |
3768 |
4314 |
5078 |
| 35 |
2518 |
2904 |
3422 |
4042 |
4436 |
5208 |
6244 |
7484 |
| 40 |
3378 |
4064 |
4850 |
5783 |
6156 |
7528 |
9100 |
10966 |
| 45 |
4914 |
5943 |
7131 |
NA** |
9228 |
11286 |
13662 |
NA** |
|
|
##Note: The above annual level term assurance
premiums are for a standard, healthy male life and are inclusive of
large sum assured rebate. The above rates are exclusive of service tax.
SA: Sum Assured. NA**: Not Available for this combination.
|
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.
|
|
|
These are only summary of the product
features. For more details on risk factors, terms and conditions please
read the sales brochure carefully before concluding a sale.
|
| |
|
|
No comments:
Post a Comment