SBI Life Smart Scholar Premium, Maturity Calculator
SBI Life - Smart Scholar (UIN : 111L073V02) (Product Code : 51)
SBI Life Smart Scholar Premium, Maturity Calculator
SBI Life Insurance Policy can fullfill your needs and provide you with a flexible and all-encompassing solution: SBI Life - Smart Scholar, a non participating Unit Linked Insurance Plan. Secure your child’s future by gaining from the financial markets. SBI Life - Smart Scholar policy specially crafted for your child.
Key Features - SBI Life Smart Scholar Premium, 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 - SBI Life Smart Scholar Premium, Maturity Calculator
- Child: Min: 0 years
- Max: 17 years
Proposer: Min: 18 years Max: 57 years
Max. Age: at Maturity 65 years
Policy Term - SBI Life Smart Scholar Premium, Maturity Calculator
- 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) - SBI Life Smart Scholar Premium, Maturity Calculator
Single Premium (SP): 5 to 25 years (subject to the limits of policy term)
Policy Benefits - SBI Life Smart Scholar Premium, Maturity Calculator
Maturity Benefit: On completion of Policy Term, Fund Value will be paid
Death Benefit:
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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
- Additional benefit equal to Accident benefit Sum Assured
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The Accident Benefit and Premium Payor Waiver Benefit are not available in the Single Premium policies.
Tax Benefits
- 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
- 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.
- 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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