SBI Life Scholar Premium and Maturity Calculator
SBI Life Scholar Premium and Maturity Calculator - Secure your child’s future with SBI's Smart Scholar Insurance policy plan by gaining from the financial markets. SBI's specially Smart Scholar insurance policy is as accommodating as you are to your child.
Key Features - SBI Life Scholar Premium and Maturity Calculator
- Secure your child’s future by gaining from the financial markets and much more.
- Dual protection for your family, in case you are not around -
- Payment of base Sum Assured and.
- Inbuilt Premium Pay or Waiver benefit to ensure continuance of your policy.
- In addition, Accident Benefit which includes Accidental Death benefit and Accidental Total and Permanent.
- Disability (Accidental TPD) benefit, is an integral part of the plan.
- Depending upon the term of the policy, Loyalty Additions would be paid periodically, for in-force policies.
- Enhanced investment opportunity through 7 varied fund options.
- Twin benefits of market linked return & insurance benefit.
- Liquidity through partial withdrawal(s).
Age at Entry: Child: Min: 0 years, Max: 17 years.
Proposer: Min: 18 years Max: 57 years,
Max. Age at Maturity: 65 years.
Policy Term: Min: 8 years, Max: 25 years less child’s age at entry, On Maturity, the age of child should be between 18 to 25 years).
Premium Payment Terms (PPT):
- Single Premium (SP): 5 to 25 years (subject to the limits of policy term).
Benefits - SBI Life Scholar Premium and Maturity Calculator
Maturity Benefit - SBI Life Scholar Premium Calculator
- On completion of Policy Term, Fund Value will be paid.
Death Benefit - SBI Life Scholar Premium and Maturity Calculator
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In the event of unfortunate death of life assured, a lump sum benefit equal to higher of the Sum Assured or 105% of all premiums paid till date of death will be payable.
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The company continue’s to pay your future premium(s) on your behalf (inbuilt Premium Payor Waiver Benefit) and the accumulated fund value will be paid at maturity.
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In case of your unfortunate accidental death or accidental total and permanent disability we pay:
- Additional benefit equal to Accident benefit Sum Assured
- The Accident Benefit and Premium Payor Waiver Benefit are not available in the Single Premium policies.
Tax Benefits - SBI Life Scholar Premium and Maturity Calculator
- Tax deduction under Section 80C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
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Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.
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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 details.
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