SBI Saving Plan Smart Bachat Buy Online in India

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1. “Kuch apno ke liye, kuch apne liye”
2. Limited premium payment term
3. Two plan options
4. Optional Premium Waiver Benefit

Individual, Non-linked, Participating Endowment Assurance Plan

Are future uncertainties keeping you from committing to a long-term investment plan?
Safeguard your family’s future and meet your investment needs wisely with SBI Life – Smart Bachat.

This limited premium payment plan offers –
Security – to financially safeguard yourself and your family
Reliability – with simple reversionary bonuses throughout the policy term
Flexibility – to choose your premium payment term and policy term

Enter your details in our benefit illustrator below and see how you may secure yourself and your family.
Secure your finances, secure your happiness!

Call for Saving Plan and Health Plan

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

Call for Saving Plan and Health Plan

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*

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Maturity Benefit for both Options

On survival till the end of the policy term, Guaranteed Sum Assured on maturity$ + 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.

$ Guaranteed Sum Assured on maturity = Basic Sum Assured

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

  • 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
  • 105% of all the premiums paid till the date of death.

$$Annualized Premium is the premium payable in a policy year, excluding Service tax, underwriting extra premium and loadings for modal premiums, if any.

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

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

  • AD&TPD Benefit## would be payable in lump sum PLUS
  • Death benefit as explained under ‘Death Benefit for both Options’ Policy will terminate and no further benefits will be payable
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 PLUS
  • All future premiums would be waived off AND
  • The base policy continues till surrender, death or maturity, whichever is earlier
##AD & TPD Benefit will be lower of (a) and (b):

  • Basic Sum assured
  • 50,00,000 subject to the condition that total sum assured under this benefit on all your individual policies with SBI Life put together should not exceed 50,00,000
    This cap shall apply for Accidental Death and Accidental Total and Permanent Disability put together
    The benefit will be paid only once during the policy term, either on accidental death or on accidental total permanent disability.
 

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