SBI Life - Smart Money Back Gold (UIN : 111N096V01)

(Product Code : 1N)

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Introduction Key Features Product Snapshot Benefits Rider
Introduction:   SBI Life - Smart Money Back Gold is a savings plan with added advantage of life cover and cash inflow at regular intervals. It is a participating traditional money back insurance plan, meeting your various financial obligations at crucial junctures by its wide range of policy terms. Regular payments of Survival benefits are made at different durations during the policy term. In the unfortunate event of death at any time within the Policy Term, your nominee would receive the full Sum Assured plus Simple Reversionary Bonus & Terminal Bonus (if any), irrespective of Survival Benefits already paid.
Key Features:
•	Money Back options specially tailored to suit your requirements
•	Fixed cash inflows which can meet your various financial obligations
•	Survival Benefit of 110% of Sum Assured paid till maturity
•	Rebate on Large Sum Assured
•	Customize your coverage through the wide range of additional benefits - SBI Life -Accidental Death Benefit Rider (UIN: 111B015V02), SBI Life - Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V02), SBI Life - Preferred Term Rider (UIN: 111B014V02) and SBI Life - Criti Care 13 Non-Linked Rider (UIN: 111B025V02)
•	Given below are the charts with various term options and accompanying Survival Payments:
Survival Benefit Installments (% of Basic Sum Assured)
Plan Options Option 1 Option 2 Option 3 Option 4 End of Policy year / Policy term 12 15 20 25 3 20% 15%     4     15% 5   15% 6 20% 15%   8     15% 9 20% 15%   10     15% 12 50% 15% 15%   15   50%   15% 16     15%   20     50% 15% 25       50% Total (% of Basic Sum Assured) 110% 110% 110% 110%
Simple Reversionary Bonus is payable along with the last Survival Benefit Payment. Terminal Bonus (if any) will also be paid along with the last Survival Benefit Payment.
Product Snapshot:
Age^ at Entry Plan Options Option 1 - Term 12 years Option 2 - Term 15 years Option 3 - Term 20 years Option 4 - Term 25 years Min. entry age 15 years 15 years 14 years 14 years Max. entry age 55 years 55 years 50 years 45 years Age^ at Maturity Min: 27 years Max: 70 years Sum Assured Min: Rs.75,000 (x 1,000/-) Max: No Limit* Policy Term Option 1 Option 2 Option 3 Option 4 12 years 15 years 20 years 25 years Premium Paying Term Same as policy term Premium Frequency Yearly / Half-yearly / Quarterly / Monthly# Premium Min. Max. Yearly - Rs.4,500 No Limit Half yearly - Rs. 2,400 No Limit Quarterly - Rs. 1,200 No Limit Monthly# - Rs. 400 No Limit Premium Frequency Loading Half-Yearly: 52% of annual premium Quarterly: 26.5% of annual premium Monthly: 8.9% of annual premium
^All the references to age are age as on last birthday. *The maximum sum assured would be subject to board approved underwriting policy. The maximum premium would be based on the sum assured offered. # 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:
•	On survival:
	▪	Before maturity: The survival benefit installments expressed as a fixed percentage of basic sum assured payable at the end of specified durations during the policy term, as explained above.
	▪	At maturity: Final survival benefit installment + Vested simple reversionary bonus + Terminal bonus, if any.
•	On Death:
	In the unfortunate event of death during the term of the plan, provided the policy is in-force:
	▪	Higher of A or B is paid to the nominee, where: A = Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any. Sum Assured on death is higher of Basic Sum Assured or a multiple of annualised premium; where multiple is:
		Policy Term Age at entry of Life Assured less than 45 years Age at entry of Life Assured 45 years or more 12, 15, 20 or 25 10 7
		B = Minimum death benefit which is equal to 105% of all the premiums paid.
Other Benefits Additional cover through four set of riders: -
•	SBI Life - Preferred Term Rider (UIN:111B014V02): The Preferred Term rider Sum Assured is payable in addition to normal death benefit
•	SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02): In case death due to an accident, the rider Sum Assured is payable in addition to normal death benefit
•	SBI Life - Accidental Total &Permanent Disability Benefit Rider (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.
•	SBI Life - Criti Care 13 Non-Linked Rider (UIN: 111B025V02): The rider sum assured would be payable on the life assured being diagnosed with any of the thirteen diseases. For details on illnesses covered, please refer the rider brochure.
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 deduction under Section 80(D) is available for premiums paid towards SBI Life - Criti Care 13 Non Linked Rider.
•	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.
Rider Brochures:
SBI Life - Preferred Term Rider (UIN: 111B014V02)
SBI Life - Accidental Death Benefit (ADB) Rider (UIN: 111B015V02)
SBI Life - Accidental Total & Permanent Disability (ATPD) Benefit Rider (UIN: 111B016V02)
SBI Life - Criti Care 13 Non-Linked Rider (UIN: 111B025V02)