Retirement Calculator - Online Pension Premium Calculator in India (2024)

IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

MAKE SMART MOVES TO GROW YOUR WEALTH WITH INSURANCE

SBI Life – eWealth Insurance is an Individual, Non-Participating, Unit Linked Life Insurance Plan (ULIP) which allows you to avail life Insurance cover & market linked returns to meet your investment needs and also to secure your family’s financial future. This is a special ULIP plan that can give you life cover along with Market linked returns. Below listed are the benefits of SBI Life – eWealth Insurance:

• Dual Benefit = Life Coverage + Wealth Creation

  This ULIP plan offers the dual benefits of life cover and wealth creation. A part of your premium goes towards providing life coverage, and the rest is allocated to market-linked funds.

• AAA – Automatic Asset Allocation

  As the policy term progresses, the asset allocations in equity funds reduce and debt and market funds increase automatically.This ensures automatically balancing of funds to counter market fluctuations

• No Premium Allocation Charges

  That’s right! There are NO PREMIUM ALLOCATION CHARGES applicable in this Unit Linked Insurance Plan.

• 2 Plan Options

  This ULIP comes with 2 plan options, Growth Plan and Balanced Plan.

  • Growth Plan:

    This option moves your assets from equity to debt and money market as the policy term progresses

  • Balanced Plan:

    In this option overall exposure to debt and money market investments is higher, giving you a balanced approach

• Liquidity through Partial Withdrawal from 6th Policy Year Onwards

  In case there is any financial emergency you are facing then this policy offers partial withdrawal from the 6th policy year.

• Premium starting as low as Rs.2000 per month

  Regardless of which plan option you choose; this ULIP comes with an affordable premium. It starts as low as Rs.2000 per month.

• Tax Benefit

  You can avail tax benefits on payment of premium under section 80C of Indian Income Tax Act 1961*

  *Tax benefits as per income Tax Laws & are subject to changes from time to time.Please consult your Tax advisor for details.

SBI Life - Smart Wealth Builder is an individual, unit-linked non-participating life insurance product. It offers regular, limited, and single premium payment options. A ULIP calculator will offer a better glimpse at your life cover and wealth creation opportunities at varying scenarios.

• Guaranteed additions

  SBI Life - Smart Wealth Builder, offers guaranteed additions (starting from the 10th year of policy) based on the policy term.

• Protection

  Life Insurance coverage will be available throughout the policy term.

• No Premium Allocation Charge

  From the 11th policy year onwards, no charges will be levied for premium allocation.

• Flexibility

  This ULIP plan provides an enhanced wealth creation opportunity via eleven varied fund options.

• Life Cover Benefit

  In case of death of the life assured during the policy term provided the policy is in force, the higher of the following will be payable :

  • Your Fund Value as on the date of intimation
  • Basic Sum Assured minus Applicable Partial Withdrawal (APW^#)
  • 105% of the total Premiums received up to the date of death minus Applicable Partial Withdrawals (APW^#)

  
  

  The nominee or beneficiary (legal heir) can receive the Death Benefit as lump sum or in instalments over two to five years under the 'Settlement' Option in the form of yearly, half-yearly, quarterly or monthly pay-outs.

  ^#Applicable Partial Withdrawal is equal to partial withdrawals if any in the last 2 years immediately preceding the death of the Life assured.

• Maturity Benefit

  Applicable for in-force policies, Fund Value is payable in lump sum if the life assured survives up to maturity.

• Flexible Options

  • SBI Life - Smart Wealth Builder offers : Switching between eleven funds
  • Premium Redirection
  • Partial Withdrawals
  • Settlement Option
  • Flexibility to choose between Single Premium, Regular Premium and Limited Premium

• Tax Benefits

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  
  

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

SBI Life – eShield Next is an Individual, Non-Linked, Non-Participating Life Insurance Pure Risk Premium Product. The term insurance plan with its range of benefits helps secure your existing responsibilities, along with your family’s future.

• Plan options

  Choose from three plan options- Level cover, Increasing Cover, and Level Cover with Future Proofing Benefit depending on your needs.
  

  - The absolute sum assured on death remains the same throughout the policy term.

  - The absolute sum assured on death increases by a rate of 10% p.a (simple) of the Basic Sum assured at the end of every 5th policy year, subject to a maximum increase of up to 100% of Basic Sum Assured.

  - In this plan option, the Absolute Amount Assured⁺ on Death can be increased on attaining defined life stages- first marriage, birth or adoption of the first and second child, and on purchase of a house^.
  ^This facility is available only once during the policy term provided a house is purchased after the risk commencement date.

  
  

  ⁺Absolute amount Assured to be paid on death will depend on the plan option chosen by you at the policy inception.

• Long term protection for self & family

  You can avail Life cover upto 100 years (Whole life) or 85 years (other than Whole Life)

• Death benefit

  If the life assured passes away during the policy term, the nominee/beneficiary receive a death benefit , provided the policy is in-force as on the date of death of life assured. The death benefit will depend on the premium payment option & plan option chosen.

• Mode of benefit payment

  You have an option to choose the mode of payment of the death benefit or Terminal illness benefit - lumpsum, monthly instalments or a combination of both.

• Better half benefit

  This option is designed to ensure that in your absence, a life insurance coverage is available for your spouse.

• Terminal illness benefit

  On diagnosis of life assured with a terminal illness during the policy term or before attainment of 80 years, whichever is earlier, the terminal illness benefit would be payable. The benefit equal to sum assured on death as on date of diagnosis, subject to maximum of Rs. 2,00,00,000 (for in-force policies) would be payable.

• Additional Coverage through Riders

  The Plan offers two rider options- SBI Life - Accidental Death Benefit Rider (UIN: 111B015V03) - The rider sum assured is payable in case the life assured dies within 120 days of accident as a result of an accident during the rider term, provided the rider policy is in-force. SBI Life – Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V03) - The rider sum assured is payable on the occurrence of accidental total and permanent disability of the life assured during the rider term, provided the rider policy is in-force.

• Tax Benefit

  Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

SBI Life- Smart Platina Assure is an Individual, Non-linked, Non-participating, life endowment assurance savings product. The savings plan helps you prepare for the future by giving you guaranteed returns^ in exchange for premiums paid for a limited term.

• Life cover, so your family is protected

  In case of your unfortunate death within the policy period, ‘Sum Assured on Death’ along with any accrued guaranteed additions^ will be payable to your beneficiary.

• Don’t worry, your returns are guaranteed

  The plan offers guaranteed returns^ on the annualized premiums paid. You can enjoy the guaranteed addition^ of 5.75% p.a or 6.25% p.a depending on whether your annualized premiums are less than Rs. 1,00,000 p.a. or greater than or equal to Rs.1,00,000 p.a. respectively.

• Pay for a few years and benefit for the rest of the term

  You need to pay premiums for a limited period of 7 or 10 years only. And in return, you can enjoy the benefits throughout the policy term of 15 or 20 years respectively.

• Pay at your convenience

  You can choose from multiple premium payment frequencies- monthly or yearly.

• Maturity benefit.

  At the end of the policy term, you will receive maturity benefit which is Guaranteed Sum assured on maturity (i.e Basic Sum Assured) along with the accrued guaranteed additions^.

• Tax Benefits

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

  Disclaimer
  ^ Guaranteed additions are added at a rate on the sum of the annualized premiums (annualized premium shall be premium payable in a year chosen by the policyholder, excluding applicable taxes underwriting extra premiums and loadings for modal premiums, if any) paid till date, at the end of each policy year for in-force policies. The Guaranteed Additions^ will be 5.75% for annualized premium less than Rs.`1, 00,000 and 6.25% for annualized premium of Rs.`1, 00,000 and above

• IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER>

• “The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year”

• “This is a Pension Product. Benefits by way of surrender, complete withdrawal or maturity / vesting will be available in the form of annuities except to the extent of commutation of such benefits as allowed under the Applicable Regulations”

• SBI Life - Retire Smart is an Individual, Unit-linked, Non-Participating Pension Savings Product. The plan enables you to cherish your golden years by securing a retirement corpus with systematic investments.

• Guaranteed Additions

  The plan offers guaranteed additions of up to 210% ^#of the annual premium, starting from the end of 15th policy year and at the end of every year thereafter, till the end of policy term.

  ^#This is applicable for policy term of 35 years under Regular/ Limited plan and provided the policy is in-force.

• Terminal additions

  SBI Life - Retire Smart offers you terminal additions of 1.5% of the Fund Value at maturity or vesting or on earlier death.

• Advantage Plan – Hassle free investment management

  The investments are managed on your behalf by SBI Life through Advantage Plan. It reallocates the assets between debt, equity and money market instruments depending on the time remaining to maturity of the policy to manage the risks.

• Pay premiums conveniently

  Choose from multiple premium payment options- Single premium, Regular premium or for a limited period

• Postpone the vesting age.

  Option to postpone your vesting age according to your changing requirements with Deferment Option.

• Maturity benefit

  On completion of policy term, provided the policy is in force, you will receive the Higher of (Fund Value as on the date of maturity/vesting Plus 1.5% of the maturity/vesting fund value would be paid as Terminal Addition) OR (101% of total premiums paid)

  The maturity benefit can be used to purchase annuities with the entire amount or a part of it. For more details on the ways to utilise the maturity benefit refer the sales literature.

• Death benefit.

  In case of death of the life assured, while the policy is in-force, the nominee receives a death benefit which is Higher of (Fund Value as on the date of intimation of claim plus 1.5% of the fund value as Terminal Addition) or (105% of total premiums received up to the date of death), is payable to eligible nominee/beneficiary.

• Tax benefit

  You can avail tax benefits on payment of premium under Section 80CCC of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

• IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER>

• “The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year”

• “This is a Pension Product. Benefits by way of surrender, complete withdrawal or maturity / vesting will be available in the form of annuities except to the extent of commutation of such benefits as allowed under the Applicable Regulations”

• SBI Life – Retire Smart Plus is an Individual, Unit Linked, Non-Participating pension savings product. It enables customers to have a comfortable retirement life by corpus creation through market-linked returns over the duration of the plan. Here are some of the key benefits of SBI Life - Retire Smart Plus.

• Choice of Seven diverse fund options

  Customers can choose from any one or a combination of the below 7 funds available:

  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Equity Pension Fund (SFIN: ULIF006150107PEEQITYFND111)
  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Equity Optimiser Pension Fund (SFIN: ULIF011210108PEEQOPTFND111)
  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Growth Pension Fund (SFIN: ULIF008150207PEGRWTHFND111)
  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Bond Pension Fund (SFIN: ULIF007160107PENBONDFND111)
  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Money Market Pension Fund (SFIN: ULIF013200308PEMNYMTFND111)
  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Top 300 Pension Fund (SFIN: ULIF018180110PETP300FND111)
  &nbsp&nbsp&nbsp&nbsp&nbsp&nbsp • Balanced Pension Fund (SFIN: ULIF009210207PEBALANFND111)

• Multiple Premium Payment Options

  The plan offers three premium payment options to choose from, as per the convenience of the customer. The first option is single premium payment, where the customer pays premium only once at policy inception.

  
  

  The other option is regular premium payment where the premium payment term is same as the policy term.

  
  

  The third option is limited premium paying term where the customer pays premium for a limited duration as opted and avail benefits for the entire policy term.

  
  

  In regular premium payment & limited premium paying term option, the customer has the choice to pay annual, half-yearly, or monthly premiums.

• Fund Switching

  The customer has an option to switch funds from one fund to another fund available within the product at any point of time during the policy term. There are no restrictions on the number of switches during a particular policy year or during entire policy term.

• Partial Withdrawal

  •The policyholder has an option to make partial withdrawals from their plan to take care of their emergencies, provided the policy is in force and post completion of lock-in period. The Partial withdrawal amount shall not exceed 25% of the fund value at the time of partial withdrawal. The partial withdrawal shall be allowed only for reasons like higher education of children, marriage of children, for the purchase or construction of residential house and for treatment of critical illnesses of self or spouse.

  
  

  You can use the SBI Life – Retire Smart Plus calculator to get a better idea of the returns and annuities you can expect for the premiums you pay and the duration you choose. The minimum premiums for the plan start at Rs. 3,000 per month (for Regular Premium), thus making early retirement planning possible for a variety of people, especially young professionals.

• Tax benefit

  You can avail tax benefits on payment of premium under Section 80CCC of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

• SBI Life- Poorna Suraksha (UIN: 111N110V03) is an Individual, Non-linked, Non-Participating, life insurance Pure Risk Premium Product with inbuilt Critical Illness Cover. The plan offers a lump sum life cover in case of unfortunate event of death and provides financial protection in the event of covered critical illness.

• Dual benefit = life cover + critical illness cover

  The plan offers Life Insurance Coverage along with a Critical Illness Benefit. The critical illness cover will offer financial assistance in case you are diagnosed with a major illness covered under the plan.

• Life Cover:

  In the unfortunate event of death of the Life Assured, Effective^#Life Cover Sum Assured, as on date of death will be paid.

• Critical Illness Benefit – Hassle free investment management

  Effective^#Critical Illness Sum Assured will be paid, on the diagnosis of covered critical illness. The CI Benefit will be paid only once and will cease once the benefit is paid.

• ^#Effective sum assured is the sum assured applicable for the policy year in which the insured event occurs.

• Survival Period for Critical illness benefit

  The Critical Illness Benefit is payable only after survival of 14 days from the date of diagnosis of the covered critical illness. In other words, Critical Illness benefit is not payable if the life assured dies within 14 days from the date of diagnosis of the covered critical illness.

• Waiting Period for Critical illness benefit

  There is a waiting period of 90 days from the date of commencement of risk or revival whichever is later and no Critical Illness benefit will be payable, if diagnosis of any of the covered CI has occurred during the waiting period.

• Life Stage Rebalancing

  At policy inception, the Basic Sum Assured would be split between Life Cover SA & CI SA in the proportion of 80:20 respectively. There would be an increase in CI SA on a year on year basis, as mentioned in table below. The decrease in Life Cover SA would be equal to the increase in CI SA. The change in sum assured would happen only on policy anniversary. The total base sum assured (Life Cover SA + CI SA) would remain the same throughout the policy term

• Policy Term	10	15	20	25	30
  Increase in initial CI cover per year (as a % of initial CI SA)	15%	10%	7.5%	6%	5%

• Fixed Premium

  The plan offers all the benefits for fixed premium. Over the term the Life Cover reduces and the CI Cover increases all this comes at a premium which remains same throughout the term of the policy.

• Premium Waiver Benefit

  Once a claim under CI is accepted by the Company, all future premiums for the policy will be waived for the rest of the policy term, from the date of diagnosis of the medical condition. The remaining policy benefits shall continue throughout the policy term. The LifeStage Rebalancing will cease to exist once premiums are waived off and the Effective Life Cover SA will remain constant from thereon.

• Tax benefit

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

• SBI Life - New Smart Samriddhi is an Individual, Non-linked, Non-participating Life Insurance Savings Product. It secures you as well as your family’s future with life insurance coverage along with guaranteed additions.

• Easy to purchase

  The processing of the policy is simple and swift. Also, you can purchase the plan without a medical examination.

• Limited premium payment term

  You only need to pay the premium for 6 or 7 or 10 years and you can enjoy the plan benefits throughout the policy term of 12 or 15 or 20 years respectively.

• Maturity Benefit (For In-force policies)

  On survival of the life assured till the end of the policy term, maturity benefit of Basic Sum Assured plus accrued Guaranteed Additions^, as applicable would be paid

• Death Benefit (For In-force policies)

  In the unfortunate event of death of the Life Assured at any time during the policy term,‘Sum Assured on death’ along with accrued guaranteed additions ^, if any, will be payable to the Nominee/ beneficiary

  See Also

  Michigan Supreme Court sides with Macomb County in retirees' benefit disputeTeacher and retiree advocates are still not happy with Kentucky's new pension reform billHow Much Do I Need to Save to Retire? | The Motley FoolBill Herring on LinkedIn: Retirement is a new chapter in your life, filled with possibilities and…

  Where, Sum Assured on death is Higher of (Basic Sum Assured or 10 times the Annualized Premium or 105% of the total premiums received^@ upto the date of death).

  ^@Total Premiums received/paid means total of all the premiums received, excluding any extra premium and applicable taxes

• Guaranteed Additions

  The plan offers Guaranteed Additions^ on maturity of the policy along with the Basic Sum Assured, or on earlier death of the life assured along with Sum Assured on Death .

  The guaranteed additions are offered at the rate of 5.5%** for Annualized premium^# less than Rs. 30,000 and 6.0%** for Annualized premium^# greater than or equal to Rs. 30,000.

• Tax benefit

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

  ^The Guaranteed Additions (GA) would apply on the cumulative premiums paid, which is the sum of the premiums paid by the policyholder till date, excluding the applicable taxes, underwriting extra premiums and loading for the modal premium, if any, at the end of each policy year for in-force policies, at a simple rate.

  ^#Annualized Premium shall be the premium amount payable in a year, as chosen by the policyholder, excluding applicable taxes, underwriting extra premiums and loadings for modal premium, if any.

  ** The Guaranteed Additions defined above is at a simple rate and not at compounding rates.

Achieve new heights with confidence.

Your aspirations drive you to achieve the best and more in life. SBI Life - Smart Elite is an individual, Unit- Linked, Non-Participating, Life Insurance product that helps you to get more from your financial investments so that you can enjoy the liberty of achieving your dreams through market linked returns and protect loved one’s future.

• Protection :

  Pay premiums for Limited term or as Single Payment, as per your convenience and enjoy benefits throughout the policy term.

• Two protection options :

  Gold Option & Platinum Option; along with in-built ‘Accident benefit’ which provides additional coverage against Accidental Death or Accidental Total and Permanent Disability (Accidental TPD).

  
  

  Invest in 8 varied fund options and manage them as per your convenience.

  
  

  Switch and Premium Redirection facilities, to give you the power for active management of your investments.

  
  

  No Premium Allocation Charges from 6th policy year onwards, thereby enhancing your fund value.

• Liquidity :

  Unforeseen expenses are taken care-of through partial withdrawals from 6th policy year onwards.

• Avail tax benefits*

  * Tax benefits are as per the provisions of Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for further details.

A retirement corpus that guarantees independence.

Retirement is the period when your life begins again. Be free from financial worries with SBI Life - Saral Retirement Saver , a simple plan which helps you build a retirement corpus for your post-work life while securing your family's future. SBI Life - Saral Retirement Saver is an Individual, Non Linked, Participating, Savings Pension Product, for people who want complete safety from market volatility, with a secured future and joyous retirement.

• Guaranteed Bonus:

  Guaranteed simple reversionary bonuses for first 5 policy years; @ 2.50% for first three policy years and @ 2.75% for the next two policy years, of the Basic Sum Assured. Guaranteed bonus will be applicable only to in-force policies.

• Vesting (Maturity) Benefit:

  Higher of (Basic Sum Assured or Total premiums received** accumulated at an interest rate of 0.25% p.a. compounding annually) plus vested simple reversionary bonuses plus terminal bonus, if any.

• Death Benefit:

  Higher of (total premiums received upto the date of death accumulated at an interest rate of 0.25% p.a. compounded annually plus vested simple reversionary bonus plus terminal bonuses, if any) or 105% of total premiums received** upto the date of death.

• Life Cover:

  Option of additional life cover through SBI Life - Preferred Term Rider (UIN - 111B014V02)

• Tax Benefits*:As per prevailing norms under the Income Act,1961.

  *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.

  **Total premiums received means total of all premiums received excluding any extra premium, any rider premium and applicable tax

• SBI Life- Saral Jeevan Bima is an Individual, Non-Linked, Non-Participating Life Insurance Pure Risk Premium Product. This plan is apt for first-time life insurance buyers.

• Protect your dependents after you are gone

  If the life assured passes away during the policy term, after the expiry of the waiting period or due to accident during the waiting period, the nominee / beneficiary will receive the Sum Assured on death, in lumpsum, which is:

• For Regular and Limited Premium payment policies it is highest of:

  •  - 10 times the Annualized premium¹
  •  - 105% of all premiums paid as on the date of death
  •  - Absolute amount assured⁺ to be paid on death

• For Single premium policies it is higher of :

  •  - 125% of Single premium
  •  - Absolute amount assured⁺ to be paid on death

• On death of the life assured due to other than accident, during the waiting period, the nominee/beneficiary will receive the Death Benefit, which is equal to 100% of all the premiums paid, excluding taxes, if any
  

• ¹ Annualized Premium is the total amount of premium payable in a policy year, excluding taxes, underwriting extra premiums and loadings for modal premiums,if any.
  

• ⁺ Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured

• Simple to understand

  The product has standard terms and conditions making it is easy to understand.

• Comes at an affordable cost

  Avail security for your family at an affordable premium with SBI Life – Saral Jeevan Bima.

• Pay as per your convenience

  You have the convenience of paying the premium once, regularly, or for a limited (5/10 years) period.

• Offers tax benefits

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*
  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

• Waiting period-

  45 days from date of commencement of risk.

  This policy will only cover death due to accident during the waiting period of 45 days from the date of commencement of risk. In case of death of the life assured other than due to accident, during the waiting period, an amount equal to 100% of all premiums excluding taxes, if any, shall be paid

Benefits

SBI Life - Smart Platina Plus provides guaranteed income during the Payout period.

• Maturity benefit(For In-force policies).

  For both the Income Plan options, on survival of the life assured till the end of the policy term, 110% of the Total Premiums paid would be refunded at the end of the policy term.

• Survival Benefit (For In-force policies).

  For both the Income Plan options, Guaranteed income will be paid during the payout period depending on the payout frequency chosen provided the Life assured is surviving.

• Death Benefit (For In-force policies).

  Life Income: On death of the life assured at any time during the policy term, Sum assured on death is payable as lump sum to the nominee or legal heir of the life assured and the policy terminates.

  Guaranteed Income: The death benefit payable before the commencement of the payout period and during the payout period are different.
  1) On death of the life assured before the commencement of the payout period, Sum assured on death is payable as lump sum to the nominee or legal heir of the life assured and the policy terminates.
  2) On death of the life assured after the commencement of the payout period, Sum assured on death is payable as lumpsum to the nominee or legal heir of the life assured and the nominee or legal heir shall continue to receive the future Guaranteed Income during the payout period. The nominee or legal heir shall have an option to receive the discounted value of the future Guaranteed Income, in the form of a lumpsum, anytime during the Payout Period, discounted at 8.25% per annum.

  Where sum assured on death is higher of the following:
  • Basic Sum Assured = 11 times of annualized premium^ or
  • 105% of total premiums paid# upto the date of death or
  • Annual Guaranteed Income* Death Benefit Factor for Guaranteed Income + Maturity Benefit* Death Benefit Factor for Maturity Benefit

• ^Annualized premium shall be the premium payable in a year chosen by the policyholder, excluding the taxes, underwriting extra premiums and loadings for modal premiums, if any.

• #Total Premiums paid /received means total of all the premiums received, excluding any extra premium and taxes.

• Tax Benefits

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

SBI Life – Smart Champ Insurance is an individual, non-linked, participating, life insurance savings product. This product is designed to meet your objectives and concerns as a parent - saving for your child's education and securing their bright future against the uncertainties of life. The nominee must be a child, whose interest the policyholder wants to protect. This plan provides insurance cover to the proposer who is the life assured and the policyholder, for death and accidental total permanent disability (ATPD) throughout the term of the policy.

• Smart Benefits

  SBI Life- Smart Champ Insurance Plan provides guaranteed smart benefits that can help cover your child’s educational needs. These benefits are payable in four equal annual instalments after the child attains 18 years of age till the child turns 21 years of age, i.e. at the end of each of last 4 policy years. 1st installment, 2nd installment, 3rd installment and last installment of Smart Benefits are payable at the end of the policy year in which the child completes 18, 19, 20 and 21 years of age respectively. Each installment of Smart Benefits will consist of 25% of the basic sum assured and 25% of the vested simple reversionary bonuses, if declared. Terminal bonus, if declared, will be paid along with the last installment of Smart Benefits.

• Triple Protection

  In case of any unfortunate insured event during the term of the policy, here are three ways in which this child plan can offer protection :

  •Immediate Payment : The sum assured on the insured event is payable as a lump sum on the occurrence of the respective event.

  •Waiver of Due Premium : In event of an unforeseen situation that leads to your absence, all the future premium instalment(s), if any, will be waived off.

  •Smart Benefit : Due instalment(s) of Smart Benefits are payable and along with the last instalment of smart benefit, a Terminal Bonus, if declared, will be paid.

• Flexible Premium Payment Term

  When it comes to making payments, you can choose to pay premium one time (Single Premium Policy – SP Policy) or Limited Premium ( LPPT Policy).

• Option to receive lump sum amount in lieu of Smart Benefits’ instalments during last 3 policy years

  There is an option for the nominee/legal heir, before the due date of the next installment of the Smart Benefits, to receive discounted value of the future due installment(s) of Smart Benefits in a lump sum amount. The terminal bonus, if declared, would be paid along with the lump sum amount.

• Benefit payable on occurrence of insured event

  In the unfortunate event of death or accidental total and permanent disability(ATPD), whichever occurs earlier, benefits (Sum Assured on insured event) in the form of a lump sum amount can be availed immediately.

• Benefit payable on survival

  You will receive the Smart Benefits. Terminal bonus, if declared, will be paid along with the last installment of Smart Benefits (i.e. the Maturity Benefit).

• Tax Benefits

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

SBI Life-Smart InsureWealth Plus is an Individual, Unit-linked, Non-Participating Life Insurance Product. It is a monthly savings plan that offers you the option to generate returns with the help of a well-planned investment strategy.

• Choose your investment strategy

  The plan offers three investment strategies that you can choose as per your needs.

  
  

  Trigger strategy- To take advantage of the equity market swings.

  Auto Asset Allocation Strategy- To target higher returns by investing in the equity market for the long term.

  Smart Choice Strategy - For the active investor who wants higher growth over a period. It also offers fund switching and premium redirection features.

• Flexibility to change the investment strategy

  The plan offers you the flexibility to change the investment strategy up to four times in the entire policy term. So, if a particular investment strategy is not working for you, you can re-evaluate and choose a different one to reach your goals.

• Choice of 9 fund options under Smart Choice Strategy

  Based on your risk appetite and the objective of investment, you can choose from the 9 fund options available under the Smart Choice Strategy.

• Get rewarded for staying invested

  The plan offers Loyalty Additions from the 11th year onwards, at regular intervals until the end of the policy term provided the policy is in-force.

• Systematic Monthly Withdrawals(SMW)

  Meet your regular expenses or have a fixed monthly payout, with the automatic partial withdrawal facility. This facility is available to the policyholder from the 11th policy year onwards provided the policy is in-force.

• Helps you in times of need

  The plan offers you liquidity in case of any need. You can opt to make a partial withdrawal after the 5th policy year or on attainment of age 18 years by the life assured whichever is later. Maximum of 4 partial withdrawals can be made in one policy year and not more than 10 partial withdrawals are allowed in the entire policy term in case of policy term 10 years or 15 partial withdrawals for policy term above 10 years.

• Maturity benefit

  At Maturity, you will receive fund value calculated at the prevailing NAV on the maturity date along with the Return of Mortality Charges (ROMC), which shall be paid in lumpsum. In cases where Life Assured is a minor, the policy will automatically vest in the Life Assured on attaining 18 years of age.

• Death benefit

  The product offers a death benefit pay-out in case of the death of the life assured.

  For Life Assured with entry age below 8 years: On death of the minor lives before the date of commencement of risk under the policy, the company will pay the Fund Value as on the date of intimation of the claim to the company.

  On death of the minor lives on or after the date of commencement of risk, the company will pay the Death benefit as mentioned below for age at entry 8 years and above.

  For Life Assured with entry age 8 years and above: On death of the Life Assured with entry age 8 years and above, the company will pay the Death benefit as mentioned below.

  Higher of

  1.The Fund Value as on the date of intimation of death to the company, or
  2.Sum assured less Applicable Partial Withdrawal (APW)^, or
  3.105% of the total premiums received upto the date of death less Applicable Partial Withdrawal (APW)^

  ^APW equals an amount equal to partial withdrawals if any in the last 2 years immediately preceding the death of the Life Assured.

• On Death of Policyholder while the life assured is a minor:

  On death of the Policyholder while the life assured is a minor, no immediate benefit will be payable. The policy may be continued by the appointment of a new Policyholder for the policy. If the policy is surrendered, the surrender value would be payable as per Surrender clause.

• Settlement Option

  Under settlement option, the nominee or the beneficiary or legal heir can choose to receive the death benefit in monthly, quarterly, half-yearly or yearly instalments over 2 to 5 years from the date of death.

  During the settlement period, the investment risk in the investment portfolio is borne by the beneficiary.

• Tax benefit

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961*

  *Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

SBI Life – Smart Lifetime Saver is an individual, Non-Linked, Participating (PAR), Whole Life Insurance, Savings Product.

In life, more often than not, you focus on fulfilling your family's dreams and work towards their security. However, while fulfilling this responsibility, your own aspirations may take a back seat.

Benefits..

• 1.Security:

  Life Cover till age 100.

• 2.Guaranteed Survival Income^#

  starting from the end of Premium Payment Term.

• 3.Additional Non-Guaranteed Survival Income (Cash Bonus), if declared,

  starting from end of 7 policy year.

• 4.Flexibility

  to accumulate Survival Incomes.

• 5.Limited Premium Payment Term:

  Choice of 3 premium payment terms: 10, 12 & 15 years.

• 6.Maturity Benefit:

  Lump sum maturity benefit is the Total Annualized Premiums## payable under the policy.

• 7.Enhanced Protection

  with two optional riders.

• Tax Benefit*:

  As per the prevailing norms under the Income Tax Act, 1961.

  
  

  *You may be eligible for Income Tax benefits as per the applicable income tax laws in India, which are subject to change from time to time.

  You are advised to consult your tax advisor on applicable tax benefits under the policy.

  # The Guaranteed Survival Income will vary with Premium Payment Terms and Annualized Premium bands.

  ##Annualized premium is the premium amount payable in a year chosen by the policyholder, excluding the applicable taxes, underwriting extra premiums, rider premiums and loadings for modal premiums, if any

• IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.>

• "The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year”

• SBI Life - Smart Scholar , is an Individual, Unit Linked, Non-Participating Life Insurance Product

  
  

  Life begins afresh when you become a parent. It's a joy you never felt and a feeling you never experienced. When your child takes steps towards you, nothing seems more blissful. With this divine happiness comes a sense of accountability towards your child and their growing needs.

  As they learn and grow, so does responsibility towards them. You want to ensure the best for your child.

  At SBI Life, we understand your needs and provide you with a flexible and all-encompassing solution: SBI Life - Smart & Scholar^& , an Individual, Unit Linked, Non-Participating Life Insurance Product for those who want to secure their child's future by gaining from the financial markets.

  Our specially crafted Smart Scholar Plan is as accommodating as you are to your child

  To secure your child’s future by gaining from the financial markets and much more:

• Dual Protection:

  for your child’s future, in case you are not around- Payment of Lumpsum benefit

  Inbuilt Premium Payor Waiver benefit^@ to ensure continuance of your policy.

• Accident benefit^$

  "which includes Accidental Death benefit and Accidental Total and Permanent Disability ( Accidental TPD) benefit , is an integral part of the plan"
  

• Loyalty Additions

  Additional allocation of units by way of regular Loyalty Additions, giving periodic boosts to your investments for in-force policies.

  Enhanced investment opportunity through 9 varied fund options.

  Twin benefit of insurance cover and market linked returns.

  Flexible options to meet your changing requirement.

  Liquidity through partial withdrawal(s).

  
  

  ^&"SBI Life -Smart Scholar will be referred to as Smart Scholar hereafter"
  ^@"Not applicable for Single Premium and Paid -up Policies."
  ^$ "Not applicable for Single Premium Policies"

• Avail tax benefits*

  * Tax benefits are as per the provisions of Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for further details.

SBI Life – Saral Swadhan Supreme, an individual, non-linked, non-participating, Life Insurance, Savings product with Return of Premium.

This product is designed to provide the life assured a fixed life insurance cover throughout the policy term.

Benefits:

• Maturity Benefit (For In-force policies)

  
  

  On survival of the Life Assured till the end of policy term, 100% of the total premiums paid^# during the policy tenure, shall be paid in lump sum.

  
  

  ^#Total Premiums paid / received means total of all the premiums received, excluding any extra premium, any rider premiums and taxes.

• Death Benefit (For In-force policies)

  
  

  In the unfortunate event of death of the Life Assured during the policy term, Sum Assured on Death will be payable to the beneficiary in lumpsum.

  
  

  Sum assured on death will be higher of:

  a) Basic Sum Assured* or

  b) 11 times of Annualised Premium^ or

  c) 105% of the Total Premiums received^# upto the date of death.

  ^*The basic sum assured is the absolute amount of benefit chosen by the policyholder at the inception of the policy.

  ^{^}Where, Annualized premium is the premium amount payable in a policy year, chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

  ^#Total Premiums paid / received means total of all the premiums received, excluding any extra premium, any rider premiums and taxes

• Tax Benefits

  
  

  As per the prevailing norms under the Income Tax Act, 1961 ^$

  ^$You may be eligible for Income Tax benefits as per the applicable income tax laws in India, which are subject to change from time to time. You are advised to consult your tax advisor on applicable tax benefits under the policy

SBI Life – Smart Swadhan Supreme, an individual, non-linked, non-participating, Life Insurance, Savings product with Return of Premium.

Benefits:

• Maturity Benefit (For In-force policies)

  On survival of the Life Assured till the end of policy term, 100% of the total premiums paid# during the policy tenure, shall be paid in lump sum.

• Death Benefit (For In-force policies)

  In the unfortunate event of death of the Life Assured during the policy term, Sum Assured on Death will be payable to the beneficiary in lumpsum.

  Sum assured on death will be higher of:

  
  

  a) Basic Sum Assured* or

  b) 11 times of annualised premium^ or

  c) 105% of the total Premiums received^# upto the date of death.

  
  

  ^*The basic sum assured is the absolute amount of benefit chosen by the policyholder at the inception of the policy.

  ^{^}Where, Annualized premium is the premium amount payable in a policy year, chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

  ^#Total Premiums paid / received means total of all the premiums received, excluding any extra premium, any rider premiums and taxes

• Tax Benefits

  You can avail tax benefits on payment of premium under Section 80C of Indian Income Tax Act 1961 ^$

  ^$Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

Contact Us

Toll free No. 1800 267 1800

Request a Call

Name

Enter Valid Name.

Mobile No.

Enter valid 10 digit Mobile No.

Supporting Documents for Indicated Annual Income will be mandatory at later stage