Smart Platina Plus
SBI Life Smart Asure Plus is an insurance policy offered by SBI Life Insurance Company, one of the leading life insurance providers in India
SBI Life –Smart Platina Plus
(UIN –111N133V01) (Product Code :2X)
“Family is your lifeline”- You want the best for them; be it your child’s education, family vacation, buying a new gadget or the freedom to pursue their passion and many more.
While you are making this a reality, you need to have an assurance that the future milestones are always met in the world of uncertainties, thus making it essential to have an assured income to supplement your finances in the future years to fulfill the desired goals.
At SBI Life, we understand this and present to you, SBI Life – Smart Platina Plus which is an individual, non-linked, non-participating, life insurance savings product. It offers financial freedom in your future years by providing regular guaranteed income during the payout period to realise your dreams. It keeps family’s financial future protected through life insurance coverage during the entire policy term.
Key Features:
Security: Life insurance cover during policy term for financial protection of family
Choice of two income plan options to suit your financial needs – Guaranteed Income & Life Income
Guaranteed Income Benefit: Enjoy fixed regular income during the payout period opted.
Maturity Benefit: Get return of 110% of total premiums paid at the end of the policy term
Flexibility:
Choose the payout period to match your life goals.
Option to change the income payout frequency before payout period
Choice of frequency of income benefit – Yearly, Half-yearly, Quarterly or Monthly
Limited premium payment options – 7,8 and 10 years
Tax Benefits*: As per the prevailing norms under the Income Tax 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 further details.
Product Snapshot:
PLAN AT A GLANCE
Premium Payment Term
(in years)
Payout Period
(in years)
Policy Term
(in years)
Minimum Age* at Entry
Maximum Age* at Entry
( in years)
Maximum Age* at Maturity
( in years)
7
15/20/25/30
23/28/33/38
30 days^
60
POSPs/CPSC-SPV Variant: 42
99
POSPs/CPSC-SPV Variant: 65
8
15/20/25/30
24/29/34/39
10
15/20/25
26/31/36
Annualized Premium(in multiples of Rs. 1000)
Minimum: Rs. 50,000
Maximum: No limit, subject to Board approved underwriting policy
Maximum annualized Premium for POSPs/CPSC-SPV Variant:
For POSPs: Subject to maximum Sum Assured on Death of INR 25,00,000 per life across all policies of SBI Life insurance company sold through POSPs.
For CPSC-SPV: Subject to maximum Sum Assured on Death of INR 25,00,000 per life across all policies of SBI Life insurance company sold through CPSC-SPV.
Basic Sum Assured ( 11 * Annualized Premium)
Minimum : Rs. 5,50,000
Maximum : No limit, subject to Board approved underwriting policy
Maximum Basic Sum Assured for POSPs/CPSC-SPV Variant:
For POSPs: INR 25,00,000 per life across all policies of SBI Life insurance company sold through POSPs.
For CPSC-SPV: INR 25,00,000 per life across all policies of SBI Life insurance company sold through CPSC-SPV.
Premium Modes : Yearly / Half-yearly/Monthly
Premium for Non – Yearly Modes :
Half-Yearly: 51.00% of annualized premium
Monthly: 8.50% of annualized premium
*All the references to age are age as on last birthday
^If the life assured is minor, date of commencement of policy and date of commencement of risk shall be same and the policyholder/proposer can be parents or legal guardian. This shall be as per our Board approved underwriting policy.
Benefits:
Guaranteed Income Benefit: Guaranteed income will be provided for the Payout period opted by you after the end of the premium payment term plus one year as survival benefit. The payout happens at the end of each income …
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