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    2 views12 pages

    Flexi Smart Insurance Brochure New Ver00001 PDF

    Uploaded by

    MOHAN S

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 12
    SBI Life INSURANCE No Pain ‘ Only Gain SBI Life - Traditional Life Insurance Plan (VIN: 11Nosovor} Daa G est a t In this modern era being Flexible and Smart is the key to success while we know that financial needs are ever chang- ing at differentlife stages, no compromises will be accepted to fulfilling your plans and dreams, The fact remains that most of us always try hard to keep up with the changing needs to maintain financial security. SOEs en Aplan whichis SEE Smart — That offers Guaranteed and Stable returns SE Flexible — That offers choices so that it suits your requirement at any given point of time. We at SBI Life understand the importance of being flexible and more importantly understand the value of your hard-earned money, hence, we offer guaranteed returns that will help you realize your dreams and aspirations. As your preferred life insurance provider, we present to you SBI Life - Flexi Smart Insurance; an Individual, Non-Participating Traditional Lite Insurance cum Savings Plan. SBI Life - Flexi Smart Insurance helps you in fulfiling all your dreams. It gives you flexibility to adapt to your ever-changing needs, while assuring guaranteed benefits to take care of your savings "Sal Life Flesi Smart Insurance will be referred to as Flexi Smt Insurance hereafter. CCCs. Guaranteed Interest Rate Guaranteed interest rate of 2.50% p.a., will be guaranteed for the entire policy term. Interim Interest Rate An interim interest rate will be declared at the beginning of every financial year, which will be equal to or more than Guaranteed Interest Rate and will be guaranteed for that year. Additional Interest Rate An additional interest rate may also be declared, as on 31st March, every year. Your policy account will be credited with interim interest rate and additional interest rate, if any. in premium frequency -> Yearly, Half Yearly, Quarterly and Monthly. * Option of premium holiday during the policy term, + Enjoy complete flexibility to increase or decrease your Sum Assured. * Option to choose sum assured multiplier factor (SAMF. * Option to boost your investments through Top-ups. Triple PI and flexi Benefit of guaranteed interest rate, additional interest rate MPa noen Then ane ines The Policy Premium Component ie. Premium Contribution, net of Risk Premium Component & Expense Premium Component will be the opening balance of your policy account. This plan provides a guaranteed interest rate of 2.50% p.a. for Whole Policy Term. The interim interestrate declared at the beginning of financial year will gt credited to your Policy Account. An additional interest rate may also be declared by the Company once in a year ie. on 31st March, which will be credited over and above the interim interest rate to your Policy Account. The additional interest rate will be determined after considering the investment returns earned by the fund and any requirement of smoothening of the crediting interest rate, The objective is to give you stable return year on year, which will keep you protected from short term market fluctuations. Both the interim interest rate and additional interest rate will be applicable to the balance of the Policy Account, The interest rate will apply on the balance of the Policy Account every day on a pro-rata basis. EO Ager at Entry Min: 8 years Max S0years ‘Age* at Maturity Max: 70 years ‘Sum Assured Min: Annualized Premium x10 Max: Annualized Premium x20. Policy Term 10 to 20 years (both inclusive) Premium Paying Term ‘Same as policy term Premium Frequency Yearly /Half-yearly / Quarterly / Monthly’ Yearly © 15,000(X 100)" Half-yearly © 8,500 (X 100)* Gechoneers S uartery € 4500050) Monthly © 1,500 (X 50)* Aineaseatnede choosy inmate 1 erp Premian sean) Eee] 57Alie reorances tage are a3¢ ao bith, ‘or marthy me, ons petata be pan aeane and renewal premium payments aloed ol hvaugh Slr Saving Scheme, ES, Cre ‘ar Dueet abi aa SHEFL FLEXIBLE BENEFITS, ME Premium holiday With this flexible option, you can take a break from your Premium Payments. You have to inform the company in writing one month before the end of the grace period of the next premium due. The company on reciept of the information will mark the status of the policy as Premium Holiday. + You may avail the Premium Holiday - After payment of minimum 5 Annualised Premiums. = Minimum for 1 year & Maximum for 3 years during the Policy Term. + Your policy will be in force during this period and all benefits will be available. * You can re-commence payment of premiums at any time during the premium holiday period. In such case un-used holiday period can not be carried forward. + You can choose premium holiday in the multiple of premium mode choosen at the time of availing the premium holiday option. MEE Surrender Value + Surrender can be requested at any time during the Policy Term + Surrender Value will be paid after a lock-in period of 3 years * The Surrender Benefit will be as per the following table: Policy Year ‘Surrender benefit amount icy account will be frozen on the date of surrender and will be paid atthe end of lock-in period withaut any further deduction of charge or any addition of guaranteed interest. During tst/2nd/3rd year During 4th and Sth year 98% of the policy account After Sth year 100% of policy account Ke SES Paid-up Value & Revival + If the due Premiums are not paid within the grace period, the Policy will become a Paid-Up Policy, * This due date of first unpaid Premium will be known as date of Paid-Up Policy + You may revive the Policy within 12 months from the date of first unpaid Premium and if you die within revival period, balance in the policy account as on the date of intimation of the claim will be paid * Interest rate will continue to be credited in your account during revival period + Revival is subject to satisfactory proof of insurability as required by the Company from time to time and payment of all Outstanding Premiums, and other applicable conditions. * During this Revival Period, the life Cover ceases. However on Revival Life Benefit will recommence from the Date of Revival of the Policy + The various Premium components stated will also apply on the outstanding Premium paid on Revival +f the Policy is not revived within the Revival Period of 12 months and unpaid Premium pertains to first three Policy Years, the Policy will be compulsorily surrendered and surrender value will be paid on first working day of Fourth Policy Year or end of the Revival Period whichever is later. And if Unpaid Premium pertains to Fourth Policy Year onwards will be terminated by paying the Surrender Value at the end of the Revival Period + However, you have an option of 3 years of Premium Holiday facility, provided minimum of 5 Annualised Premiums have already been paid by you. Premium Holiday facility is available before the grace period (Please refer the Premium Holiday section for more details). * Cost of medical expenses incurred for revival facility (if any) will be borne by the policyholder. MEE Increase / Decrease in Sum Assured + This option provides you the flexibility to alter your Sum Assured as per your changing needs. + The option is available at each Policy Anniversary Date starting from the 4th Policy Year, subject to 2 months prior notice, provided the Policy is in-force, subject to Underwriting approval and Issuance of written communication. * The Risk Premium component will be recovered prospectively as per new Sum Assured. * This feature is subject to the limits provided in the product at the time of such change request. 1 Increase in Sum Assured through change in Sum Assured Multiplier Factor (SAMF) + Increase in SAMF will increase the Sum Assured but not the Regular Premium, * This option is not allowed after Life Assured has attained the age of 50 years as on last birthday. * Underwriting (including Medical ifrequired) would be done as per the prevailing Underwrrt- ing Norms, Cost of medical examination and tests will be borne by the Life Assured subject to maximum of Rs. 3000/- ‘Increase in SAMF will not be allowed if you have already exercised the option to decrease SAMF. 2. Decrease in Sum Assured through change in Sum Assured Multiplier Factor (SAMF) + Decrease in SAMF will decrease the Sum Assured but not the Regular Premium. SAMF once decreased cannot be increased in future. * This option can be exercised by you without any restriction on age attained at the time of exercising the option C“C:ss—SCSC“(;‘SNSNNSCNCO‘ié#‘;<é

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