SBI Life Smart Elite Plan

A plan that gives power to realize market related returns on your policy. A plan for gives choice of premium payment with the freedom to stay protected for long term. A ULIP plan is one whose return mainly depend on the market conditions and gives returns both on maturity of the policy or on the sudden demise of the policy holder.

Key Features

  • Market linked returns
  • Limited premium payment term
  • Protection options
  • Gold – higher of sum assured or fund value is payable
  • Platinum – fund value + sum assured is payable

    • Benefits

    • Maturity benefit
    On maturity the life insured gets the sum assured as a lump sum amount.
    • Death benefit
    The nominee receives highest of sum assured or the fund value on death of the life insured.
    • Partial withdrawal
    The maximum amount of withdrawal is 15% of the fund value on the date of withdrawal.

    Add-ons

    • Rider benefit
    Accidental death benefit linked rider

    Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 18 60
    POLICY TERM 5 20
    AGE OF MATURITY - 65
    PREMIUM PAYEMENT TERM LIMITED, SINGLE
    PAYMENT TERMS ANNUAL, SEMI-ANNUAL, QUARTERLY, MONTHLY

    What if?

    • I am unable to pay on time
    A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.
    • I stop the payment
    If the policy is surrendered within 5 years then the fund value will be moved to discontinued policy fund. If it is surrendered after 5 years fund value will be paid out.
    • I wish to take a loan
    No loan option is available in this policy.

    Exclusions

    • Death benefit
    The nominee will receive fund value of the amount of premiums paid if the life insured commits suicide.
    • Accident benefit
  • Due to participation in criminal activity
  • Self-inflicted injury
  • Professional sports
  • Nuclear contamination