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SBI Life Nav – SBI Life Daily Nav Value

admin — Thu, 26 Apr 2012 12:10:28 +0000

SBI Life Insurance Daily Nav Value
NAV For April 2012

SBI Life Horizon

Fund Name	SFIN	Unit Value (RS./unit)
Money Market Fund	ULIF005010206MONYMKTFND111	14.9478
Equity Fund	ULIF001100105EQUITY-FND111	36.7689
Bond Fund	ULIF002100105BONDULPFND111	18.3315

SBI Life Horizon II Pension

Fund Name	SFIN	Unit Value (Rs./unit)
Equity Pension Fund	ULIF006150107PEEQITYFND111	12.9974
Bond Pension Fund	ULIF007160107PENBONDFND111	15.6809
Money Market Pension Plan	ULIF013200308PEMNYMTFND111	13.2164

SBI Life Horizon III

Fund Name	SFIN	Unit Value (Rs./unit)
Money Market Fund	ULIF005010206MONYMKTFND111	14.9478
Equity Fund	ULIF001100105EQUITY-FND111	36.7689
Bond Fund	ULIF002100105BONDULPFND111	18.3315
Balanced Fund	ULIF004051205BALANCDFND111	19.133
Index Fund	ULIF015070110INDEXULFND111	10.0296

SBI Life Horizon III Pension

Fund Name	SFIN	Unit Value (Rs. /Unit)
Money Market Pension Fund	ULIF013200308PEMNYMTFND111	13.2164
Equity Pension Fund	ULIF006150107PEEQITYFND111	12.9974
Bond Pension Fund	ULIF007160107PENBONDFND111	15.6809
Index Pension Fund	ULIF017180110PEINDEXFND111	10.4296
Balanced Pension Fund	ULIF009210207PEBALANFND111	17.7027

SBI Life MAHA ANAND

Fund Name	SFIN	Unit Value (Rs. /unit)
Equity Optimizer Fund	ULIF010210108EQTYOPTFND111	11.4327
Bond Fund	ULIF002100105BONDULPFND111	18.3315
Equity Fund	ULIF001100105EQUITY-FND111	36.7689

SBI Life MAHA ANAND II

Fund Name	SFIN	Unit Value (RS. /Unit)
Equity Fund	ULIF001100105EQUITY-FND111	36.7689
Bond Fund	ULIF002100105BONDULPFND111	18.3315
Index Fund	ULIF015070110INDEXULFND111	10.0296
Balanced Fund	ULIF004051205BALANCDFND111	19.133

SBI Life Saral Maha Anand

Fund Name	SFIN	Unit Value (Rs. /Unit)
Balanced Fund	ULIF004051205BALANCDFND111	19.133
Index Fund	ULIF015070110INDEXULFND111	10.0296
Bond Fund	ULIF002100105BONDULPFND111	18.3315
Equity Fund	ULIF001100105EQUITY-FND111	36.7689
Discontinued Policy Fund	ULIF024110411DISCOPOFND111	10.8208

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SBI Life – Flexi Smart Insurance | Features & Benefits

bhavana — Tue, 05 Jul 2011 09:19:35 +0000

SBI Life – Flexi Smart Insurance, an Individual, Non-Participating traditional life insurance cum savings plan, which helps you in fulfilling all your dreams. It gives you flexibility to adapt to your ever-changing needs, while assuring guaranteed benefits to take care of your savings.

Key Features –

• Guaranteed Interest Rate: Guaranteed interest rate of 2.50% p.a., will be guaranteed for the entire policy term.

• Interim Interest Rate: An interim interest rate will be declared at the beginning of every financial year, which will be equal to or more than Guaranteed Interest Rate and will be guaranteed for that year.

• Additional Interest Rate: An additional interest rate may also be declared, as on 31st March, every year, based on the performance of the Company.

• Your policy account will be credited with interim interest rate and additional interest rate, if any

• Superior Flexibilities:

• Flexibility in premium frequency -> Yearly, Half Yearly, Quarterly and Monthly.

• Option of premium holiday during the policy term.

• Enjoy complete flexibility to increase or decrease your Sum Assured.

• Option to choose sum assured multiplier factor (SAMF).

• Option to boost your investments through Top-ups.

• Triple Plan Benefit of guaranteed interest rate, additional interest rate and superior flexibilities.

Products –

Age^ at Entry

Min: 8 years

Max: 60 years

Age^ at Maturity

Max: 70 years

Sum Assured

Min: Annualized Premium × 10

Max: Annualized Premium × 20

Policy Term

10 to 20 years (both inclusive)

Premium Paying Term

Same as policy term

Premium Frequency

Yearly / Half-yearly / Quarterly / Monthly^#

Premium Amounts

Min
Yearly -	Rs 15,000 (X 100)*
Half-yearly -	Rs 8,500 (X 100)*
Quarterly -	Rs 4,500 (X 50)*
Monthly -	Rs 1,500 (X 50)*
*In case of mode change it may be in multiples of Re 1

Max
No limit
No limit
No limit
No limit

Top-up Premium

Rs.2,000 (X 100)

At any point of time during the policy term, the total top-up premium paid shall not exceed the sum total of regular premiums paid at that point of time

^All the references to age are age as on last birthday.
^# 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)

Benefits:

• On Death

• Death benefit is payable only when your policy is inforce. In case of death of the life assured during the policy term, death benefit will be sum of :

• Balance of Policy Account at the time of death intimation.

• Sum Assured.

• In case of death of life assured, when policy is in premium holiday mode, death benefit will be sum of:

• Balance of Policy Account at the time of death intimation.

• Sum Assured MINUS unpaid risk premium component along with applicable taxes.

• In case of minor life assured, if the proposer dies, no benefit will be paid. For the policy to be in force, guardian of the life assured should continue paying premiums.

• On Maturity

At maturity we would be declaring terminal interest rate, which will be attached to your balance policy account and will be paid to you as on the date of maturity in lump sum.

Tax Benefits**

• U/s 80C of the Income Tax Act 1961 on your premiums.
• U/s 10(10D) of the Income Tax Act 1961 on your maturity / death / surrender proceeds under the policy.

* Interim Interest rate will be declared at the beginning of every Financial Year. Additional Interest Rate may also be declared, as on 31st March, every year. The guarantee is applicable to policies which are inforce and within the revival period.

**Subject to changes in tax laws. Please consult your Tax Advisor for details.

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SBI Life Smart Wealth Assure | ULIP Plan | Key Features & Benefits

bhavana — Mon, 07 Mar 2011 09:54:36 +0000

SBI Life realises the same and brings to you ‘Smart Wealth Assure’ which takes care of all these variables and gives you ‘Peace of Mind’ by providing a Minimum NAV Guarantee plus benefit, if any. SBI Life – Smart Wealth Assure is a unit Linked non participating Life Insurance Plan. The Plan is further prepared with many power packed features which takes care of your financial needs.

Key Features:

• Option to choose a combine of funds providing Guaranteed Return and Market Linked Returns

• Guaranteed Return provided through Return Guarantee Fund (RGF) which guarantees a Minimum Pre-specified NAV, subject to conditions#

• Apart from minimum guarantee, any upside in the RGF will also be paid to you…

• Market Linked Returns provided through 3 funds – Bond Fund, Equity Fund & P/E Managed Fund to give you the best possible returns

• Pay only once and get the benefits throughout the Policy Term

• Liquidity through Partial Withdrawal(s)

• An excellent investment cum insurance plan

• Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions

Product Snapshot

Age at Entry	Minimum: 8 years Maximum: 65 years
Age at Maturity	75 years
Policy Term	10 to 30 years (both inclusive)
Premium Payment Term	Single Premium (SP)
Single Premium Amount (X 100)	Min: Rs 50,000 Max: No limit
Sum Assured	Minimum: For Age below 45 yrs : 1.25 * SP For Age 45yrs & above: 1.10 * SP Maximum: For Age below 45 yrs : 5 * SP For Age 45yrs & above: 3 * SP
Fund Options	4 Funds: 1. Return Guarantee Fund 2. Bond Fund 3. Equity Fund 4. P/E Managed Fund

All the references to age are age as on last birthday.

Benefits:

• Maturity Benefit: On achievement of Policy Term, Fund Value will be paid. If the policy term is such that the maturity date is the same as the termination date of RGF, then the fund value at maturity will be:

• Fund value at the prevailing NAV as on date of Maturity for funds other than RGF
Plus
• Higher of the Fund value at the minimum pre-specified guaranteed NAV or at the prevailing NAV for the RGF.

If the policy term is such that the maturity date is later than the termination date of RGF, the maturity value is the total Fund value at maturity.

• Death Benefit: Higher of Fund Value or Sum Assured is payable; with a minimum of 105% of Single premium paid.
• Accidental Death Benefit Option: Accidental Death Benefit: Provides additional death benefit if the death occurs as a result of an accident.

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SBI Life Lifelong Pension Plus | Key Features | Benefits

bhavana — Fri, 10 Dec 2010 06:37:22 +0000

SBI Life – Lifelong Pension Plus is a unique individual non participating traditional pension plan, which gives you total safety and security while offering you complete transparency and flexibility. This Plan is a perfect way for you to accumulate your savings and purchase an annuity with it, a time of your choice, to give you regular income. You would agree that all this will surely give you a secure future, and a joyous retirement.

Key Features:

• You have complete freedom to avail of a Pure Pension option or get the added advantage of insurance protection.
• Choice of Add on Covers ,thus meeting your additional requirements at a nominal cost

• Term cover

• Total Permanent Disability(TPD) cover due to

• Accident OR

• Accident and Sickness

• Complete Transparency: You will know how your premiums are growing each step of the way. At the end of each financial year, the fund will be credited with investment income based on the investment return earned.

• Guaranteed Additions of 10% of Annual Premium on 15th policy anniversary & 10% of Annual Premium on every 5th policy anniversary thereafter in case of Regular Premium policy whereas for Single Premium policy, 1% of Single Premium on 15th policy anniversary & 1% of Single Premium on every 5th policy anniversary thereafter.

• Added to this is the matchless advantage of our expertise in investment management that shields you from the vagaries of the markets and gives you stable investment returns that grow your retirement kitty

• Choose Single or Regular payment, as per your need.

• Augment your retirement kitty at any time during the policy term by making Additional Contributions.

• Option to Prepone or Postpone the Vesting Age

Product Snapshot

Age at Entry*	Min: 18 years	Max: 65 years
Age at Maturity/Vesting	Minimum: 40 years Maximum: 70 years
Policy Term	Minimum : 5 years Maximum : 40 years
Premium Modes	Yearly / Half-yearly / Quarterly / Monthly/Single
Annualized Premium Amounts (X 100)	Min Regular Premium Rs 7,500 Single Premium Rs 50,000	Max No limit No limit
Additional Contribution Amount (in x100)	Min Rs. 2,000
	Max: No Limit
Guaranteed Additions**	Regular Premium: 10% of the Annual Premium on 15th policy anniversary and 10% of Annual Premium on every 5th policy anniversary thereafter. For Single Premium: 1% of the single premium on 15th policy anniversary and 1% of single premium on every 5th policy anniversary thereafter. **The guaranteed addition is for in-force policies and does not apply to additional contributions.

* All the references to age are age as on last birthday.

Benefits:
• Maturity Benefit: The fund value payable on maturity/vesting can be utilized as follows:

• Purchase Annuity Plan for the entire amount.

• Commute up to one third of Fund Value as lump sum and the balance can be used for the purchase of annuity.

• Death Benefit: In the unfortunate event of death, the accumulated fund value will be paid to the nominee or legal heir. Term cover sum assured if opted for is also payable and the policy terminates thereafter.

• Add-on Cover Benefits:

• Term Cover:
In the event of death when this benefit is in force (before the life assured completes 65 years of age or during the benefit term if there is no unpaid premium), the nominee would be paid an amount equal to benefit Sum Assured.

• Total Permanent Disability Cover (Accident):
If the policyholder has taken this cover and during the tenure of Policy in the event the insured becomes incapacitated and as a result not able to earn an income from any work, occupation or profession for the rest of his/her life, then the sum assured will be paid,

• Total Permanent Disability Cover (Accident & Sickness):
This cover option benefit is payable when. If the policyholder has taken this cover, then in case of a state of total, permanent and irreversible disability exists as a result of an accident or disease and the life insured is rendered permanently incapable of earning an income from any occupation whatsoever, the sum assured will be paid.
Please Note: Either of the Total Permanent Disability (TPD) covers can only be availed if Term Cover has been opted.

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SBI Life Scholar II | key Features | Benefits

bhavana — Fri, 10 Dec 2010 06:27:43 +0000

A traditional participating plan, SBI Life – Scholar II has guaranteed benefits which are payable at the regular intervals during the term of the policy. In an ill-timed event, your nominee would receive full sum assured along with vested bonus, plus regular guaranteed survival benefit.

Key Features:

• Twin benefit of saving for your child’s education and securing a bright future despite the uncertainties of life.
• Full risk cover throughout the policy term irrespective of payment of survival benefits installments.
• Option to receive the installments in lump sum at the due date of first installment of Survival benefit.
• Attractive rider options.
• Attractive rebate for Female lives and High Sum Assured.
• 15 days Free Look Period.

Product Snapshot:

Term
Premium Payment Term ( PPT)	18 – Childs Age at entry
Policy Term	21 – Childs Age at entry ( You are covered till the child attains 21 years of age)
Premium
Premium Mode	Monthly / Quarterly / Half Yearly / Yearly ( Single Premium also available)
Age ( As on Last Birthday)
Entry Age ( Life Assured )	Minimum: 18 years ; Maximum: 60 years
Entry Age ( Child)	Minimum: 0 years ; Maximum:15 years
Maximum Age at Maturity (Life Assured)	70 years
Sum Assured
Minimum Sum Assured	Rs 50,000/-
Maximum Sum Assured	Rs 1 Crore
Riders Available
SBI Life – Dhanavantri Supreme – Individual Critical Illness (CI Rider) (UIN : 111C004V02)
SBI Life – Accidental Death and Permanent Disability (AD & PD ) Rider (UIN: 111C001V01)
SBI Life – Premium Waiver Benefit (PWB) Rider ( Individuals) ( UIN : 111B005V01)

Benefits:

• Guaranteed payment at regular intervals
when the child attains 18 years of age, the parent has an option of:
Receiving the Sum Assured in 4 installments:

Age	Guaranteed Benefit Payment
18 years	25 % of Sum Assured
19 years	25 % of Sum Assured
20 years	25 % of Sum Assured
21 years	25 % of Sum Assured + Vested Bonus *

Receiving the Survival Benefits in a single installment along with the Vested Bonus* (Policy terminates thereafter)

Vested bonus is the total amount of bonus accrued till date, under the policy.

• DEATH BENEFIT : In the event of unfortunate incident of your early death during the term of the plan, your child’s future remains secured in 3 ways:
• Child future educational needs: 25% of Sum Assured is payable in 4 equal installments when the child attains the age 18 years to 21 years. This ensures the child’s higher educational needs are met.

• Immediate Payment: The nominee receives the Sum Assured along with the bonus declared until that date.

• All future basic premiums need not be paid: Ensuring that your family is not financially burdened in your absence.

Tax Benefits:

• Tax benefit u/s 80C and 10(10 D) of the Income Tax Act
• Premiums paid for Critical Illness Benefit qualify for tax exemption under Sec 80D

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SBI Life Hospital Cash | Key Features | Eligibility

bhavana — Fri, 10 Dec 2010 06:15:45 +0000

Good health is the most valuable asset that we have, but nowadays with increasing levels of stress, negligible physical activity and changing lifestyle our weakness to diseases is increasing at an alarming pace.

The cost of healthcare is rising everyday and more than the cost of your treatment, indirect costs like – hospital room rent, nursing expenses, post discharge expenses, recuperating expenses, ambulatory charges etc account for a major part of the overall cost incurred. Lack of sufficient savings or a suitable health policy may force you to compromise on the quality of medical treatment. We feel you certainly deserve better.

SBI Life – Hospital Cash is a comprehensive plan that covers not only hospitalization expenses but also other incidental costs. This plan offers you complete freedom from worries.

What is SBI Life – Hospital Cash:

This plan helps you keep your savings unhurt in case of medical emergencies by paying you a fixed Daily Hospitalization Cash Benefit and an ICU benefit that is twice of daily cash benefit, irrespective of your hospital bill. This amount helps to pay for any kind of expenses incurred before, during or post hospitalization.

Key Features:

• 100% payout from day one of hospitalization without any deductible

• Coverage of Pre-existing diseases after 2 years

• Guaranteed coverage up to 75 years

• Premium guarantee for 3 years

• Enhanced sum assured and increased payouts on each policy anniversary in case
of No claim

• Tax benefit on premium paid under sec 80 D of IT Act.

Eligibility:

This policy can be taken for Self /Spouse/Parents/ Parents in-law and dependent children.For children between age of 1 year-17 years to be covered at least one of the parents has to be insured under the same policy.

Minimum age at entry for the proposer on last birthday		18 years
Minimum age at entry	For Dependant Child	1 year
	For Adult	18 years
Maximum age at entry	For Dependant Child	24 years
	For Adult	65 years for a new policy
		72 years for a renewed policy
Max age at maturity	For Dependant Child	27 years
	For Adult	75 years
Fixed Policy Term		3 years

Note: All ages are as on Last Birthday

Scale of Benefits:

BENEFITS
Sum Assured per Annum(Rs)	2 Lakhs	3 Lakhs	4 Lakhs	5 Lakhs
Daily Hospitalization Cash Benefit(Rs/day)	Rs 2000	Rs 3000	Rs 4000	Rs 5000
Daily ICU Benefit(Rs/day)	Rs 4000	Rs 6000	Rs 8000	Rs 10,000
Family Care Benefit(Rs)	Rs 10,000 – Lump sum per policy year

Waiting Period:

Hospitalization due to any illness within the first 30 days from the date of commencement of the cover or date of joining for a new member in the family policy is not covered except for those arising out of accident(s) which occur during the policy period.

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SBI Life Group Criti9 | Key Features | Eligibility

bhavana — Fri, 10 Dec 2010 06:03:05 +0000

SBI Life – Group Criti9 is a traditional non participating Group Health Plan. This plan provides protection against 9 critical illnesses where Sum Assured is paid in lump sum on diagnosis of any one of covered critical illnesses. So provides you money at time when you need it most.

Key Features:

• Simultaneous safety and protection against 9 Critical Illnesses

• Simplified joining process

• Guaranteed renew ability till 65 years of age

• Tax benefit under section 80D of IT Act, 1961

Critical Illnesses covered:

• Cancer

Heart Attack (Myocardial Infarction)

• Stroke

• Coronary Artery Bypass Surgery

• Kidney Failure (End Stage Renal Disease)

• Major Organ Transplant

• Coma

• Multiple Sclerosis

• Heart Valve Surgery

Eligibility:

This plan is offered to different groups like employee-employer relationship, credit life groups, customers of bank / financial institutions, depositors groups etc.

SBI Life will issue a Group Master Policy to the Group Master Policyholder based on details contained in the proposal form. Group Members may be enrolled either on a voluntary or compulsory participation basis as decided by master policyholder.

Group Size:

• Minimum 50 members

Age:

• Entry from minimum age of 18 yrs till the maximum age of 55 yrs.

Sum Assured:

• Sum assured can be selected in the following ways:

• Uniform for all members

• As a multiples of salary

• As grade wise cover

Minimum sum assured is Rs. 25,000/- and maximum sum assured is Rs. 500,000/-.

Benefits:

Sum Assured is payable in one lump sum on diagnosis of any one of covered critical illness provided:

• Survival for a period of 30 days after the date of diagnosis

• Submission of necessary documents

Waiting Period:

The insured member can avail the benefits after 90 days of the date of commencement or date of revival

Other Policy Details:

• Nomination is compulsory

• Level Premiums payable annually in advance for the cover term.

• Cover Term: Minimum of 2 yrs and maximum of 5 yrs

• Cover can be renewed till 65 yrs of age subject to max cover term of 5 yrs and premium rates / age are reviewed at the time of renewal.

• Grace period of 30 days on annual renewal date

• Revival facility is available within 6 months from the first unpaid premium due date

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SBI Life Smart Scholar | Key Features | Benefits

bhavana — Fri, 10 Dec 2010 05:51:55 +0000

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 baby steps towards you, you wonder what else bliss could be?
Amidst all this divine happiness, there’s a new sense of responsibility that fills your heart. Like you may not really believe that life’s a rose bed or a tender cushion, but you certainly want it to be for your lovely children. At SBI Life, provide you with a unique, flexible and all-encompassing solution through our SBI Life – Smart Scholar Plan.

Key Features:

• Secure your child’s future by gaining from the financial markets and much more.

• Dual protection for your family, in case you are not around –

•	Payment of base Sum Assured and
•	Inbuilt Premium Payor Waiver benefit to ensure continuance of your benefits.

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

• Free allocation of units by way of regular Loyalty Additions, giving periodic boosts to your investments.

• Enhanced investment opportunity through 9 varied fund options including P/E Managed Fund, Index Fund & Top 300 Fund.

• Twin benefits of market linked return & insurance benefit.

• Liquidity through partial withdrawal(s).

• Tax benefits as per prevailing tax laws.

Product Snapshot:

Age at Entry *

Child: Min: 0 years

Max: 17 years

Proposer: Min: 18 years

Max: 57 years

Max. Age at Maturity

65 years

Policy Term

Min: 8 years
Max: 25 years less child’s age at entry
(On Maturity, the age of child should be between 18 to 25 years)

Premium Payment Terms (PPT)

•	Single Premium
•	5 to 25 years (subject to the limits of policy term)

Premium Amounts(x100)

Minimum:

PPT	Frequency	Minimum(Rs)
SP	Single	75,000
5 years to 7 years	Yearly	50,000
	Half Yearly	25.000
	Quarterly	12,500
	Monthly	4,500
8 years or more	Yearly	24,000
	Half Yearly	16,000
	Quarterly	10,000
	Monthly	4,000

Maximum :

No Limit

Sum Assured

For Single Premium:

Minimum	Maximum
Across all ages	Age<45 years	Age=>45 years
1.25 * SP	5 * SP	1.25 * SP

For other PPTs:

Minimum		Maximum
Age<45 years	Age=>45 years	Across all
Higher of: 10 * AP or ½ * T * AP	7 * AP	20 * AP

Partial Withdrawals

Upto 15% of Fund Value can be withdrawn each year, from 6th year onwards, subject to conditions. 1 free partial withdrawal in a policy year

Tax Benefits**

Under Sec. 80C and Sec. 10(10D) of Income Tax Act,1961

* All the references to age are age as on last birthday.

Loyalty Additions, by way of free allocation of units:

During the term of the policy loyalty units would be given for in-force policies on completion of specific durations. Loyalty additions depend on term of the policy.
The loyalty addition at relevant policy year end will be equivalent to –

1% x [Average fund value over the 1st day of the last 24 policy months]

Benefits:

• Basic Life Benefit:

• In the event of ill-timed death of life assured, a lump sum benefit equal to higher of the Sum Assured or 105% of all premiums paid till date of death will be payable.

• If on the date of death, the sum assured is less than 105% of all premiums paid, the amount in excess of the sum assured will be paid from your fund by disinvestment of units.

• In the event of death of child no sum assured is payable. Life assured will inform the Company regarding the event. In such case he/she can either continue the policy or terminate the contract. In case of termination of contract, the fund value (without any surrender charges), will be payable.

• If both the life assured and the child die during the term of the policy the policy will be automatically terminated and all due benefits will be paid along with the fund value..

• Maturity Benefit:

• On completion of the policy term, maturity benefit i.e. the fund value shall be paid to beneficiary in a lump sum or as per settlement option, if chosen.

The beneficiary will be:

The policyholder if he/she survives. OR
Child, in case of death of the life assured during the policy term.

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SBI Life Smart Elite | Key Features | Benefits

bhavana — Fri, 10 Dec 2010 05:40:49 +0000

SBI Life – Smart Elite is a Unit Linked Insurance plan – an exquisitely crafted product, exclusively for special customers like you. It gives you flexibility to pay premium(s) for limited term or single premium, with the freedom to stay invested and protected for long term. What’s more, you have the power of choosing the option best suited to your needs, at a very competitive rate. All this and more, coming from SBI Life – your preferred insurer, adds enormous value to your investments.

Key Features:

• Maximum value addition through excellent allocation rates.

• Pay premiums only for a limited term of 5, 8 or 10 years or a Single Payment, as per your convenience and enjoy benefits throughout the chosen policy term.

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

• Two protection options available: Gold Option & Platinum Option

• Invest in wide range of funds and manage them as per your convenience.

• Life Insurance coverage with minimum Sum Assured of 10 or 7 times of your Annual Premium (AP), based on your age.

• Switch and redirection facility, to pilot your investments.

• Option to increase/decrease your Sum Assured from 6th policy year onwards.

• Accidental Death and Accidental Total and Permanent Disability (Accidental TPD) benefit automatically comes to you as an integral part of the plan!

• Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions**.

Product Snapshot:

Age at Entry*

Min: 18 years

Max: 60 years

Age at Maturity

65 years

Policy Term

5 to 20 years (both inclusive)

Premium Payment Term

•	For Limited Premium Payment Term (LPPT) – 5 or 8 or 10 years.
•	For Single Premium – Single Payment.

Minimum Limited Premium Amount (X 100)

Minimum Single Premium Amount (X 100)

Maximum Limited/Single Premium Amount (X 100)

Yearly	Rs 150,000
Half-yearly	Rs 75,000
Quarterly	Rs 37,500
Monthly	Rs 12,500

Rs 200,000

No limit

Premium Modes

Single /Yearly /Half-yearly /Quarterly / Monthly

Sum Assured

Minimum:
For LPPT -
For Ages below 45 yrs : 10 * Annual Premium (AP)
For Ages 45yrs & above: 7 * AP

For Single Premium (SP) –
For All Ages : 1.25 * SP

Maximum:
For LPPT - For All Ages – 20 * AP

For SP – For All Ages – 5 * SP

* 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:

• For Gold Option: Higher of Fund Value or Sum Assured is payable; with a minimum of 105% of total premiums paid^# till the time of death.

• For Platinum Option: Fund Value plus Sum Assured^# is payable; with a minimum of 105% of total premiums paid^# till the time of death.

• In-built Benefit:

• Accidental Death and Accidental Total and Permanent Disability (Accident Benefit): Provides an additional benefit for Accidental Death or Accidental TPD.

# Net of partial withdrawals

^**Tax benefits are subject to change in tax laws. Please consult your tax advisor for details.

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SBI Life – Shubh Nivesh | Key Features | Benefits

bhavana — Fri, 10 Dec 2010 05:24:35 +0000

SBI Life – Shubh Nivesh is an Endowment product with an option of Whole Life coverage. The basic purpose is to provide Savings, Income and Protection to you and your family. Not only you can save regularly for your future but you also have the flexibility to receive the maturity amount as a lump sum or as a regular income for a chosen period, depending upon your needs.

Key Features:

• A unique Savings cum Protection Plan with the flexibility of Whole Life option as an add-on
• Triple benefits of Wealth Creation, Regular Income and Protection under a single plan
• Convenience of premium payment options – Single Premium and Regular Premium
• Comprehensive risk coverage through 3 Riders:

• Preferred Term Rider

• Accidental Death Benefit Rider

• Accidental Total & Permanent Disability Rider

• Option to receive the Basic Sum Assured at regular interval over a stipulated time period of 5/10/15/20 years.
• Tax benefits as per prevailing norms under the Income Tax Act, 1961

How does it work?

SBI Life – Shubh Nivesh has two options:

Endowment Assurance: The base plan is a traditional endowment plan with simple reversionary bonuses which accrue till the end of the endowment term. The sum assured with all accrued bonuses will be paid on death during the endowment term or survival till the end of the endowment term.

Whole Life Endowment: The policyholder has to opt for the Whole Life Endowment option at the proposal stage itself, wherein the sum assured along with the accrued bonus till the end of the endowment term will be paid to the policyholder, and an amount equal to the basic sum assured will be paid on the life assured attaining 100 years of age or on the death of the life assured, if earlier.

Benefits:

• Maturity Benefit: Depending upon the plan option chosen:

• Endowment Assurance (i.e. if Whole Life option is not taken):

• After completion of endowment term, the Basic Sum Assured + vested Simple Reversionary Bonus is paid
• If Deferred Maturity Payment option has been chosen, the accrued bonus will be paid on the date of maturity and the policyholder may choose to receive the sum assured in regular installments over the next 5/10/15/20 years.
• Whole Life Endowment (i.e. Whole Life option is taken):

• After completion of endowment term the Basic Sum Assured + vested Simple Reversionary Bonus is paid.

• If, Deferred Maturity Payment option has been chosen, the accrued bonus will be paid on the date of maturity and the policyholder may choose to receive the sum assured in regular installments over the next 5/10/15/20 years.

• An amount equal to the basic sum assured will be paid on the life assured attaining 100 years of age.

• Death Benefit: In the unfortunate death of the Life Assured, depending upon the plan option chosen:

• Endowment Assurance (i.e. if Whole Life option is not taken):

• Death before the completion of Endowment term: Sum Assured + Simple Reversionary Bonus (if any) is paid to the nominee

• Deferred Maturity Payment Option has been availed and death happens after the completion of Endowment term: The Balance amount of the Deferred Maturity Payment Option, if any would continue to be paid to the legal heirs till the end of the stipulated period as chosen

• Whole Life Endowment (i.e. if Whole Life option is taken) :

• Death before the completion of Endowment term:

• Sum Assured + Simple Reversionary Bonus (if any) is paid to the nominee
• Death after the completion of the endowment term up to 100 years of age:

• Sum Assured under the Whole Life coverage is paid to the nominee.

• If deferred Maturity Payment Option has been availed and death happens after the completion of Endowment term but before the receipt of the final installment under the deferred payment option, the basic sum assured under the Whole Life coverage is paid to the nominee and the balance amount of the Deferred Maturity Payment Option, if any would continue to be paid to the nominee till the end of the stipulated period as chosen

• Other Benefits

• Deferred Maturity Payment Option: You have the option to avail the sum assured as regular payouts over a stipulated period of 5/10/15/20 years. The amount of regular income payable will be quoted based on the rates available at that time

• Three sets of riders: –

• Preferred Term Rider: The Preferred Term rider Sum Assured is payable in addition to normal death benefit

• Accidental Death Benefit Rider: In case death due to an accident, the rider Sum Assured is payable in addition to normal death benefit

• Accidental Total and Permanent & Disability Rider: 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 benefit as per section 80C and 10(10D) of Income Tax Act.

Shubh Nivesh at a Glance:

	Minimum	Maximum
Entry Age	18 years	60 years
Maturity Age	23 years	65 years
Policy Term	5 years	30 years
Sum Assured	Rs.75,000	No limit

Mode of Premium Payment: Yearly, Half-Yearly, Quarterly, Monthly & Single Premium

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