SBI Life - Smart Shield (UIN : 111N067V02)

(Product Code : 45)

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Introduction Key Features Product Snapshot Benefits Rider
Introduction:   SBI Life - Smart Shield is a traditional non-participating pure term plan, which is a one stop solution that meets all your insurance needs. With Options and benefits specially tailored for those who want best financial protection at an affordable cost, this is the perfect plan from your preferred insurance provider. Now your family stays protected, even when you are not around.
Key Features:
•	Establishes a solid foundation for a lifetime of financial security for your family.
•	Rewards you for maintaining a healthy lifestyle.
•	Wide variety of plan options to give you freedom from your liabilities.
•	Large Sum Assured rebates.
•	You can also customize your coverage by choosing from a wide range of additional benefits such as SBI Life - Accidental Death Benefit Rider, SBI Life - Accidental Total and Permanent Disability Benefit Rider and Accelerated Critical Illness cover option.
•	Tax benefits* as per prevailing norms under the Income Tax Act, 1961.
Product Snapshot:
Age^ at Entry Min: 18  years Max: 60 years Age^ at Maturity Max: 65 years Plan Options i) Level Term Assurance ii) Increasing Term Assurance iii) Decreasing Term Assurance (Loan Protection) iv) Decreasing Term Assurance (Family Income Protection) Sum Assured Min: Rs 25,00,000 (in multiples of Rs.1,00,000) Max: No limit Policy Term Min: 5  years Max: For Level Term Assurance and Increasing Term Assurance and Decreasing Term Assurance (Family Income Protection): 30 years For 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, Increasing Term Assurance: Single Premium (SP), or Regular Premium(RP) (Yearly / Half-yearly / Quarterly / Monthly#) For Decreasing Term Assurance (Loan Protection)and Decreasing Term Assurance (Family Income Protection) : Single Premium Premium Amounts Min   Single Premium : Rs. 15,000 Regular Premium :   Yearly : Rs 5,000 Half-yearly : Rs 2,500 Quarterly : Rs 1,250 Monthly# : Rs. 450 Max: 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 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.
•	Other Benefits:
•	Cover Option
	•	Accelerated Critical Illness benefit: You have the option to further enhance your Level Term Assurance and Increasing Term Assurance by opting for the Accelerated Critical Illness benefit. This option is available with Level Term Assurance and Increasing Term Assurance benefit.
•	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.
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 80D is available for premiums paid for Accelerated Critical Illness cover   • 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.
Rider Brochure:
SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02)
SBI Life - Accidental Total and Permanent Disability Benefit Rider (UIN: 111B016V02)
Rider Document:
SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02)
SBI Life - Accidental Total and Permanent Disability Benefit Rider (UIN: 111B016V02)