SBI Life Smart Elite | Key Features | Benefits

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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Tags: Life Insurance, SBI Life Insurance