SBI Life - Smart Wealth Assure : Introduction, Key Features, Benefits, Tax Benefit, Insurance, Minimum Investment

SBI Life - Smart Wealth Assure : Introduction, Key Features, Benefits, Tax Benefit, Insurance, Minimum Investment

Introduction:

Equity Market Performance is affected by many variables like Economic condition, Liquidity, Corporate Performance, Global Markets etc. Thus you are not sure what returns you will get on your hard earned money.

SBI Life realises the same and brings to you ‘Smart Wealth Assure’ which takes care of all these variables and gives you ‘Peace of Mind’ by providing a Minimum NAV Guarantee Plus Upside, if any. SBI Life - Smart Wealth Assure is a unit Linked non participating Life Insurance Plan. The Plan is further fortified with many power packed features which takes care of your financial needs

Key Features:

• Option to choose a mix of funds providing Guaranteed Return and Market Linked Returns
• Guaranteed Return provided through Return Guarantee Fund (RGF) which guarantees a Minimum Pre-specified NAV, subject to conditions**
• Apart from minimum guarantee, any upside in the RGF will also be paid to You…
• Market Linked Returns provided through 3 funds – Bond Fund, Equity Fund & P/E Managed Fund to give you the best possible returns
• Pay only once and get the benefits throughout the Policy Term
• Liquidity through Partial Withdrawal(s)
• Attractive Tax benefits^ under the Income Tax Act, 1961, subject to conditions

Benefits:

•Maturity Benefit: On completion of Policy Term, Maturity Value will be paid.

Maturity value for the Daily Protect Fund II will be calculated based on NAV which is higher of:

• Prevailing NAV as on date of Maturity OR

• Higher than Highest Guaranteed NAV: There will be an increment of 5% to the Highest NAV achieved during the first seven years under the ‘Daily Protect Fund II’.

• In addition, if there are any units in the Index Fund, the Fund value of such units, calculated at the Prevailing NAV would also be added, in order to arrive at the Maturity Value

• Death Benefit: Higher of the Fund Value or Sum Assured## is payable; subject to a minimum of 105% of the total premiums paid## at the time of death. The death benefit is payable only for inforce policies.

• Accidental Death Benefit Option: Accidental Death Benefit: Provides additional death benefit if the death occurs as a result of an accident.

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