SBI Life - Smart Power Insurance (UIN : 111L090V01)

(Product Code : 1C)

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IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLIYCHOLDER
“The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year”
Mortality Rates for SBI Life - Smart Power Insurance Introduction Key Features Product Snapshot Benefits
Introduction:   To have a secure future, which takes care of the financial needs of the family in case of any eventuality and to meet life’s various goals, it is important that one starts saving early and regularly. We present to you, SBI Life - Smart Power Insurance, a non-participating unit linked insurance plan which takes care of your insurance as well as investment needs. The product comes to you at reasonable premium and is in tune with the current investment scenario. It is a flexible product, which also takes care of your liquidity needs. Additional protection requirement, due to changing personal and/or financial circumstances, is also taken care by the product.
Key Features:
•	Two Plan Options to choose from:
	•	Level Cover Option - Sum Assured chosen at inception remains the same through out the policy term
	•	Increasing Cover Option - The initial Sum Assured increases by 10%, without any additional underwriting, starting from 6th policy year and after every 5 years thereafter
•	Advantage of Advancing the Policy Benefit to become your Living Benefit, through our Inbuilt Accelerated Total & Permanent Disability (TPD) benefit
•	Two Fund options to choose from
	•	Trigger Fund Option - Advantage of ’Buying Low and Selling High’
	•	Smart Funds Option - Option to choose from 7 varied funds
•	Flexibility through 2 free switches in a policy year
•	Liquidity through Partial Withdrawal(s)
Product Snapshot
Age at Entry* Min: 18 years        Max: 45 years Age at Maturity* 65 years Policy Term 10 years, 15 to 30 years (both inclusive) Premium Payment Term Same as policy term Premium Amount (X 100)   Min: Max: Yearly Rs 15,000 No limit Half-yearly Rs 9,500 No limit Quarterly Rs 5,500 No limit Monthly Rs 2,000 No limit Premium Modes Yearly/Half-yearly/Quarterly/ Monthly Sum Assured Min: Higher of [(10 x AP) or (0.50 x Term x AP)] Max: 20 x AP Note: The Sum Assured can never go beyond Rs. 1 Crore at any point of time
* All the references to age are age as on last birthday.
Benefits:
•	Maturity Benefit: On completion of Policy Term, Fund Value will be paid.
•	Death Benefit: Higher of the Fund Value or Sum Assured# is payable; with a minimum of 105% of total basic premiums paid till the time of death
•	In-built Accelerated Total and Permanent Disability (TPD) Benefit: In case of TPD due to Accident or Sickness, 100% of the Death Benefit (as defined above) will be paid immediately and thereafter the policy would terminate.
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.