SBI Life Smart Power Insurance

A plan that comes at a reasonable premium and is in tune with current investment ratio. A plan that takes care of your both investment and insurance needs. 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

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 45
POLICY TERM 10 30
AGE OF MATURITY - 65
PREMIUM PAYEMENT TERM SAME AS POLICY TERM
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.
  • General exclusions
  • Due to participation in criminal activity
  • Self-inflicted injury
  • Professional sports
  • Nuclear contamination