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Protection Plans
Introduction: Protection Plans are low cost insurance plans which are specially designed to provide full protection & financial stability to your family in case of any unforeseen events.
SBI Life presents range of attractive protection plans so that you can continue to celebrate life without worrying about the uncertainities of life. .
SBI Life - Smart Shield A Traditional Non - participating Pure Term Plan
SBI Life - Saral ShieldA Traditional Non - participating Pure Term Plan
SBI Life - SwadhanA Non Participating Traditional Term Insurance Plan
Savings Plans
Introduction: You may have plans for your loved ones or for yourself. It makes perfect sense to prepare well in advance with saving plan combined with life insurance cover. SBI Life’s plans will help you plan for your savings, be it your child’s wedding or education, buying a house or that dream vacation. So that you can Celebrate Life!
SBI Life - Smart Money Back InsuranceA Traditional Life Insurance Plan
SBI Life – Flexi Smart Insurance A Non-Participating Traditional Life Insurance cum Savings plan
SBI Life - SanjeevanSupremeA Traditional Saving Plan
SBI Life – Shubh NiveshA with profit Endowment Assurance Plan with an option of Whole Life Cover
SBI Life - Saral LifeA participating Endowment Assurance Plan
Unit Linked Plans
Introduction:
Unit Linked Insurance Plans are long term investment cum protection plans that offer you an opportunity of availing market linked returns while providing life insurance protection. Depending on your risk appetite, you have the option of choosing from host of funds having varied degree of risk exposure. Flexibility and transparency are some of the other attractive features that make ULIPs an attractive long term investment option. To help you fulfill your long term dreams, SBI Life presents you a wide range of ULIPs so that you continue to Celebrate Life!
SBI Life - Smart PerformerA Non-participating Unit Linked Life Insurance Plan
SBI Life - Unit Plus SuperNon-participating Unit Linked Life Insurance Plan
SBI Life - Saral Maha AnandA Non - participating Unit Linked Life Insurance Plan
SBI Life - Smart EliteA Non-participating Unit Linked Life Insurance Plan
SBI Life - Smart ScholarA Non - participating Unit Linked Life Insurance Plan
SBI Life - Smart HorizonA Non-participating Unit Linked Life Insurance Plan
SBI Life - Smart Wealth AssureA Non-participating Unit Linked Life Insurance Plan
Child Plans
Introduction: As a caring parent you would always want your child to get the very best. To ensure that you fulfill dreams that you may have for your loved ones, financial planning for their secured future is very important.
At SBI Life, we understand that. That’s why we present you host of child plans so that you can choose the one that suits your and your child’s needs best. Our plans are as accommodating as you are for your child. Celebrate Life!
SBI Life - Scholar II A Participating Traditional Plan
SBI Life - Smart Scholar A Non-Participating Unit Linked Life Insurance Plan
Pension Plans
Introduction: Increasing life expectancy rate, rising health care costs, absence of social security system in India and disintegration of joint family system are some of the key reasons that makes retirement planning very critical.
To help you continue celebrating your life post-retirement to the fullest, SBI Life presents you an array of pension plans which are simple and innovative.
SBI Life - Annuity Plus
Health Plans
Financial planning is incomplete without planning health insurance. Due to today’s hectic lifestyle, improper diet, lack of exercise we are at higher risk of contingencies of untimely serious illnesses. Sudden health problems could have deep hole in your pockets. Medical science has advanced by leaps and bounds in the last few decades. There’s a definite need to cover for health insurance to reduce the financial burden.
SBI Life - Group Criti9A Traditional Non-Participating Group Health Plan
SBI Life - Hospital CashAn Individual Non - Unit linked Non - Participating Health plan
GROUP PLANS
Group micro insurance plans
1.SBI Life - Grameen Shakti (UIN : 111N038V01)
Generic Benefit Illustration | Email
IntroductionKey FeaturesBenefits
Introduction: The purpose of this product is to provide life insurance protection to the weaker sections of the society, like people who are funded by Micro Financial Institutions or NGO’s or avail loan from Bank/ Financial institutions through SHG. SHG is a group of rural poor who have volunteered to organize themselves into a group for eradication of poverty of members. We have designed ’Grameen Shakti’ which is a Group Micro insurance product with refund of premiums at maturity. Key Features:
•Duration of plan: 5 years or 10 years as per the Group Master policyholders choice.
•Age at entry:
•Minimum 18 years age last birthday.
•Maximum 50 years age last birthday.
•Sum assured: Rs.5,000/- to Rs.50,000/- (in multiples of 5,000) as per choice of Master Policyholder
•Premium frequency: Yearly.
•Requirement from the Group member: Automatic acceptance linked to signature of Membership form that includes Good health declaration and nomination clause.
Benefits:
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•Maturity benefits: Depending on term chosen by the Master Policyholder, on survival of the policy term a percentage of total premiums paid would be refunded. 5 years - 50% of premium paid net of service tax. 10 years - 100% of premium paid net of service tax.
•Death Benefits: First 45 days after the cover start date or after the revival date - No death claim will be accepted (inclusive of accidental death) Form 46th day from cover start date / revival date - Sum assured is payable
•Surrender value: The surrender value will be payable if at least 3 years premiums have been paid and is payable as follows: For a 5 year term - 35% of (total premiums paid net of service tax less the first year premium) For a 10 year term - 65% of (total premiums paid net of service tax less the first year premium)
•Grace Period: 30 days from the premium payment due date which is common for all Group Members under the same Master policy.
•Revival Period: 3 years from the due date of the first unpaid premium and within the term of the cover subject to underwriting decision. All unpaid premiums have to be paid along with the applicable interest (at 'RBI Repo rate + 2.5%'). A new 45 days exclusion period from the revival date will be applicable.
•Exclusions:
•45 days from joining the scheme/ revival date: No death claim will be accepted.
•In the event of there being more than one death claim in respect of the same group Member, death claims only up to the maximum of Rs. 50,000/- per group member will be payable. All other claims will be declined and premium net of Service tax and Stamp Duty will be refunded to the nominee as stated in the membership form.
•Suicide within the first year: Premium net of Service Tax and Stamp Duty will be refunded to the nominee
2.SBI Life - Grameen Super Suraksha (UIN : 111N039V01)
Generic Benefit Illustration | Email
Useful links
IntroductionKey FeaturesBenefits
Introduction: The purpose of this Product is to provide life cover at low costs to groups of economically weaker sections of Society, like people who are funded by Micro financial Institutions or NGO's or avail loan form Bank/ Financial institutions through SHG. SHG is a group of rural poor who have volunteered to organize themselves into a group for eradication of poverty of members. Grameen Super Suraksha is a low cost Group term assurance plan for rural people who can seek life insurance protection without maturity benefit.
Key Features:
•Duration of plan: 5 years fixed.
•Age at entry:
•Minimum 18 years age last birthday.
•Maximum 50 years age last birthday.
•Sum assured: As per the Minimum / Maximum premium amount and premium mode.
•Premium frequency: Single premium or Yearly premium as per Group Master policyholder choice.
•Single Premium: 30 times the Single premium amount (exclusive of Service Tax).
•Regular Premium: 150 times the Yearly premium amount (exclusive of Service Tax).
•Premium frequency: Single premium or Yearly premium as per Group Master policyholder choice.
•Requirement from the Group Member: Automatic acceptance linked to signature of Membership form containing a Good health Declaration and nomination clause.
Benefits:
•Death benefits: First 45 days after the cover start date or after the revival date - No death claim will be accepted (inclusive of accidental death) From 46th day from the cover start date / revival date - Sum assured is payable.
•Maturity benefits : No maturity benefits payable
•Grace Period: 30 days from the premium payment due date which is common for al Group Members under the same Master policy. During the grace period, claim amount less premium amount due is payable.
•Revival Period: 2 years from the due date of the first unpaid premium and within the term of the cover subject to underwriting decision. All unpaid premiums have to be paid along with interest (9%p.a). A new 45
days exclusion period from the revival date will be applicable.
•Surrender value : No surrender value as it is a pure term assurance product
•Exclusions:
•45 days from joining the scheme/ revival date: No death claim will be accepted.
•In the event of there being more than one death claim in respect of the same group Member, death claim only up to the maximum of Rs.50,000/- per group member will be payable.All other claims will be declined and premium net of Service tax and Stamp duty will be refunded to the nominee as stated in the membership form.
•Suicide within the first policy year:Single premium mode - Premium net of Service tax and Stamp Duty will be refunded to the nominee. Regular Premium mode - No benefit payable.
Group saving protection products
SBI Life - Nidhi Raksha RP (UIN : 111N041V01)
IntroductionKey FeaturesPremium Illustration of SBI Life - Nidhi Raksha RPBrochure for Master PolicyholderBrochure for Group Member
Introduction SBI Life - Nidhi Raksha RP is a unique Plan which will help protect and grow your customer’s savings. This Plan is an excellent tool to ensure that your customer’s savings will accumulate as originally planned, even in the unfortunate event of his/her demise. The powerful protection under this Plan will thus lend a competitive edge to your savings products. *Key Features: •Offered to deposit holders of the master policyholder (bank/financial institution)
•Cover is available for a term of 1 to 10 years, subject to a maximum cease age of 70 years (age as on last birthday).
•Sum Assured starting from as little as Rs.5,000/-, with no maximum limit.
•A transparent plan, where the benefit available at any point of time is clearly defined in the Certificate of Insurance (COI) issued to the insured group member.
•Cost effective insurance ideally suited to protect planned savings
•Nomination facility available for each member
•Simple joining process
•Attractive Rebates
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*Certain features may differ for different Master Policies.
For more details please dial 1800 22 9090 (Toll Free) or email at [email protected] Premium Illustration of SBI Life - Nidhi Raksha RP Premium Illustration:
Product SBI Life - Nidhi Raksha RP
Master Policy Holder A leading Bank
Nature of deposit Recurring Deposit Account
Age of group member (male) 40 years
Regular Monthly Installment Rs.1000/-
Rate of Interest 8.25%
Term of deposit 7 years
Maturity Value of deposit as per original schedule
Rs. 1,13, 709/-
Initial Basic Premium Amount Rs.375/-(based on 0.332% of sum assured)
Yearly Regular Premium Amount^ 0.332% X (Maturity Value of deposit as per original schedule – Accumulated balance in deposit at beginning of each year)
* Applicable Service Tax and Education Cess will be charged additionally Notes:
•These Basic Premium rates and Benefits are merely for illustration purpose.
•Premium Rates depend on the characteristics of the group, rate of interest, term of deposit, age and other parameters, and hence will need to be specifically quoted for any bank/financial institution. For specific quotation, please contact SBI Life.
•Please note that individual deposit holders interested in the product can be enrolled only through their bank/financial institution.
•Please refer to the brochure for details of this Plan. Grant of cover shall be subject to underwriting.
Group loan protection products
SBI Life - RiNn Raksha (UIN : 111N078V01)
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Brochure | Email | Ask for a Visit
IntroductionKey FeaturesProduct SnapshotTerms & Conditions
Introduction The dream house, the best education for your kids, the latest car, an overseas family vacation and much more. To fulfill these aspirations, most of us don’t hesitate to avail loans.
Now, with SBI Life – RiNn Raksha, a group credit life insurance plan, you can rest assured that your family will always enjoy the assets, which you so lovingly acquired, without worrying about any liabilities.
In other words, live life ’Debt- Free’! Key Features Wide variety of loans covered -including Housing Loans, Car Loans, Agricultural Loans, Educational Loans and Personal loans. Cover can be availed for a policy term as low as 1 year upto maximum period of 30 years. Multiple Premium paying options - Single, 3 years, 4 years, 5 years &10 years. Upto 3 joint borrowers (including primary borrower) can be insured upto 100% of the loan amount. Tax benefits as per prevailing tax laws.
Product Snapshot
Age at Entry ^ Min: 16 years; Max: 69 years
Max. Age at Maturity 70 years (cover would not extend beyond the 71st birthday)
Policy Term Min: 1 year Max: 30 years
Premium Payment Terms &Policy Terms
Single Premium
Level Premiums:
Premium Paying Term (PPT)
Policy Term
3 5 years to 10 years
4 6 years to 15 years
5 8 years to 30 years
10 15 years to 30 years
PPT should not exceed 2/3rd of the policy term
Sum Assured(in multiples of Re.1)
Minimum: 10,000 per member
Maximum: No Limit
Group term with rop
SBI Life - Swadhan (Group) (UIN : 111N014V01)
Brochure | Email
IntroductionKey FeaturesExclusions
Introduction: Swadhan (Group) is a Non Participating Group Term Insurance Plan with Return of Premium. It is a simple and easy solution which offers dual benefits of life cover protection in the event of death and refund of premium in case of survival up to the end of the cover term. *Key Features:
• Eminently affordable premium rates
• Complete protection during cover term
• Refund of part/full basic premiums paid, depending on the Term of insurance Cover
• Choice with regard to Term of Insurance Cover and Sum Assured
• Flexibility to choose appropriate premium payment modes
• Simple and convenient joining process
• Hassle free and efficient claims settlement
Revival facility is made available within 2 years from the first unpaid premium due date. *Certain features may differ for different Master Policies.
Exclusions:• Death due to natural causes within the first 45 days from cover start date
• Death due to suicide within one year from cover start date
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Group Protection Plans
Introduction:
Never compromise on the dreams of your family and children. If you believe in this, you must make your employees believe in the same too. SBI Life offers pure protection cover for your employees to ensure that their families are financially well secured in the event of unforeseen and unfortunate circumstances.
SBI Life - Sampoorn SurakshaA Yearly Renewable Group Term Insurance Plan
SBI Life - Credit Guard A Non Participating Group Term Insurance Plan
SBI Life - Suraksha Plus A Pure Term Non-Participating Plan
Retirement Solutions
Introduction:
What better way to reward your loyal employees than with a secure future? SBI Life’s Group
Retirement Insurance Plans are designed to provide security and financial stability to an employee’s family ensuring a loyal and motivated workforce. These plans safeguard and ensure availability of funds to meet your company’s obligations on gratuity, superannuation, pension / annuity and leave encashment. Depending on your needs, you can choose between traditional and unit linked plans.
SBI Life - CapAssure Gratuity SchemeA Non-Participating Yearly Renewable Traditional Group Gratuity Scheme
SBI life - DhanrashiA Traditional Non-Participating Group Savings Linked Insurance Scheme
SBI Life - CapAssure Leave Encashment Scheme (CA-LE):A Non-Participating Yearly Renewable Traditional Group Leave Encashment Scheme
SBI Life - Swarna GangaA Group Insurance Plan
SBI life - Swarna Jeevan A Group Immediate Annuity Plan for Corporate Clients
SBI Life - Gaurav JeevanA Group Immediate Annuity Plan
SBI Life - CapAssure A traditional Non-linked, Non-Participating Plan
SBI Life - Kalyan ULIP Plus A Non-participating , Unit Linked group insurance plan
