SBI Life – Smart Bachat

Features

• Life insurance coverage through two plan options

• Simple reversionary bonuses throughout the policy term

• Option of in-built premium waiver benefit

• Choose between four premium payment terms and a wide range of policy term

Advantages

Security

• Financially protect you and your family in case of any eventuality with two options

  • Option A : Endowment Option

  • Option B : Endowment Option with in-built Accidental Death and Total Permanent Disability (AD&TPD) Benefit

Reliability

• Build your corpus through regular simple reversionary bonuses

• Premium waiver on Accidental Total & Permanent Disability (only for Option B)

Flexibility

• Opt for a policy term according to your insurance needs

• Choose premium payment term as per your convenience

Avail tax benefits*

Maturity Benefit for both Options :

On survival till the end of the policy term, Basic Sum assured$ + Vested Simple Reversionary Bonuses + Terminal bonus, if any, is paid to the policyholder.

Note: In case of paid up policies, the Paid up Sum Assured will be paid instead of the Basic Sum Assured.

$Basic Sum Assured is the absolute amount of benefit, which is guaranteed to become payable on maturity and is chosen by the policyholder at the inception of the policy.

Death Benefit for both Options :

On death of the life assured during the policy term, the beneficiary is entitled to get higher of A or B

1. Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal Bonus, if any.
   Where Sum Assured on death will be higher of Basic Sum Assured or 10 times annualized$$ premium

2. 105% of the total premiums received^^ up to the date of death.

$$Annualized Premium is the premium payable in a policy year as chosen by the policy holder, excluding the Applicable Taxes, underwriting extra premium and loadings for modal premiums, if any.

In built Accidental Death and Total Permanent Disability (AD&TPD) Benefit, applicable only for Option B:

a) In case of Accidental Death of the life assured during the policy term,

• An additional amount equivalent to the Basic sum assured would be payable in lump sum as an AD&TPD Benefit ##PLUS

• Death benefit as explained under 'Death Benefit for both Options'

• Policy will terminate and no further benefits will be payable

b) In case of Accidental Total and Permanent Disability of the life assured during the policy term

• AD&TPD Benefit## would be payable in lump sum

• All future premiums would be waived off AND

• The base policy continues till surrender, death or maturity, whichever is earlier