SBI Life Unit Plus Super

September 4th, 2010

SBI Life Insurance – Unit plus Super is a flexible non participating Unit linked insurance Plan, especially planned to meet your changing requirements at different stages of life. With a broad collection of funds, riders and other options, this product gives you the whole freedom to fulfill all your investment and insurance needs. And that’s not all; now also offer you guaranteed additions and choice of payment options, giving you far superior value.

Key Features:

- Guaranteed Additions^# of up to 75(%) per cent of one yearly regular premium on a regular premium policy, for a 30 year policy term, subject to the Policy being in force till the maturity date.

- No Policy Administration fee for first Five years for Regular and Limited Premium Paying Term (LPPT) plans, thereby boosting your fund value

- No Premium Allocation Charge from 11th year onwards

- Guaranteed Additions starting as early as 10th policy year onwards

- Enhanced investment opportunity through 9 varied Fund Options including P/E Managed Fund, Index Fund & Top 300 Fund

- Option to pay Regular/Limited/ Single Premium; Switch or Redirect your premiums

- Flexible product with an option to increase/decrease your Sum Assured from 6th year onwards

- Life Insurance coverage, with minimum Sum Assured, based on your age

- Liquidity through Partial Withdrawals.

- Option to customize the product with a wide range of riders: SBI Life – Criti Care 13 Rider (UIN: 111A018V01), SBI Life – Accidental Death Benefit Linked Rider (UIN: 111A019V01), SBI Life – Premium Payor Waiver Benefit Rider (UIN: 111A017V01) and SBI Life – Income Sustainer Rider (UIN: 111A020V01).

Product Snapshot

Age at Entry*

Min: 7 years

Max: 65 years

Age at Maturity

75 years

Policy Term

Min. Term:
For Regular Premium (RP) -10 yrs, 15 to 30 years (both inclusive)
For Limited Premium Payment Term (LPPT) – 10 yrs, 15 to 30 years (both inclusive)
For Single Premium (SP) – 5 years

Max. Term: For Regular/Limited/Single Premium Option – 30 years

Premium Payment Term

For Regular Premium – Same as Policy Term
For Limited Premium Payment Term (LPPT) -

Policy Term

PPT

10 year

5 or 8 years

15-30 years

5 or 8 or 10 years

For Single Premium – Single Payment

Premium Amount (X 100)

	Minimum	Maximum
For RP	Rs. 30,000	Rs. 1,50,000
For LPPT	Rs. 40,000	Rs. 1,50,000
For SP	Rs. 65,000	Rs. 1,50,000

Premium Modes

Single /Yearly

Sum Assured

Minimum:
For Regular Premium (RP) & LPPT -
For Ages below 45 yrs : Higher of {10 * Annual Premium (AP) or (0.5 * Term * AP)}
For Ages 45yrs & above: Higher of {7 * AP or (0.25 X Term X AP)}

For Single Premium (SP) -
For Ages below 45 yrs: 1.25 * SP
For Ages 45yrs & above: Fixed – 1.25 * SP
Maximum:

Particulars

For Regular Premium

For Limited Premium

For Single Premium

Entry Age

Below
45 yrs

45 yrs & above

Below
45 yrs

45 yrs & above

Below
45 yrs

Sum Assured

20 * AP

15 * AP

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: 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.

Rider Benefits:

Criti Care 13 Rider: Provides lump sum amount to take care of 13 Critical Illnesses which include Cancer, Coronary Artery Bypass Graft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis

Accidental Death Benefit Linked Rider: Provides additional death benefit if the death occurs as a result of an accident.

Premium Payor Waiver Benefit Rider: In the event of the death of the Propose, the cover for the Life Assured under the base policy continues and the future premiums under the base policy, payable during the rider term, will be paid by the Company.

Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to Accident or Sickness, whichever is earlier. A 25% of income sustainer benefit sum assured is paid upfront and 1% of income sustainer benefit sum assured is paid monthly in arrears for 10 years or till the end of the base policy term (capped at a maximum of 30 years) whichever is higher.

^* For any partial withdrawal done, the guaranteed addition shall be reduced proportionately.

^## Net of partial withdrawals.

Disclaimer: Please note that the information provided is collected from sources publicly available & we believe to be reliable. The website doesn’t warrant the accuracy, reliability & absolute information available on the website. Participation by site visitors or registered customers is on a voluntary basis. The policies are offered by various life Insurance & non-life insurance offering companies and Bimadeals does not seek to, either directly or indirectly, advise, offer, solicit or recommend that any person who is or proposes to become its member should purchase the Policy.

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Tags: SBI Life Insurance, SBI Life Unit Plus Super, Unit Plus Super
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