LIC Premium and Maturity Calculator

SBI Life Smart Champ Insurance Premium and Maturity Calculator

SBI Life Smart Champ Insurance Premium and Maturity Calculator - SBI Life - Smart Champ Insurance is an Individual Non-linked, Participating life insurance plan, specially designed to protect child’s future educational needs. SBI Life Smart Champ Insurance is designed to meet your first objectives and concerns for your child as a parent. Saving your child's education and securing their bright future against uncertainties of life.

About SBI Life Smart Champ Insurance Premium and Maturity Calculator

SBI Life Smart Champ Insurance policy is a policy to assured benefits which are payable during the term of the policy. It is a participating policy and will accrue bonuses at the end of every policy year till the child completes 18 years of age and a final Terminal bonus, if any.

SBI Life Smart Champ Insurance Premium and Maturity Calculator - SBI Life Smart Champ Insurance policy offers the insurance cover to the proposer, who will be the life assured and the policyholder, for death and Accidental Total Permanent Disability (ATPD) throughout the term of the policy. The ATPD benefit is accelerated, hence the insured event is death or ATPD, whichever is earlier. On occurrence of the insured event, the contingent benefits are payable to the beneficiary and the insurance cover will cease thereafter. The nominee at the point of sale must be a child whose interest you want to protect.

Key Features of SBI Life - SBI Life Smart Champ Insurance Premium and Maturity Calculator

  • Education Needs: Guaranteed (Conditions Apply##) Smart Benefits are payable in four equal annual installments after the child attains 18 years of age till he/she turns 21 years of age, i.e. at the end of each of last 4 policy years. 1st installment, 2nd installment, 3rd installment and last installment of Smart Benefits are payable at the end of the policy year in which the child completes 18, 19, 20 and 21 years of age respectively. Each installment of Smart Benefits will consist of 25% of the basic sum assured and 25% of the vested simple reversionary bonuses. Terminal bonus, if any, will be paid along with the last installment of Smart Benefits. This ensures your child’s higher educational needs are met.
  • Triple protection for your child, in case of an unfortunate insured event any time during the term of the policy which is in-force:
  • Immediate Payment: Sum assured on insured event is payable as a lump sum on the occurrence of the insured event.
  • Waiver of Due Premium: To ensure that your family is not financially burdened in your absence, all the future premium installment(s), if any, will not be required to be paid under the policy. The policy continues to accrue bonuses, if applicable.
  • Smart Benefit: Due installment(s) of Smart Benefits are payable. Terminal bonus, if any, will be paid along with the last installment of Smart Benefits
  • Option to pay one-time premium (Single Premium Policy - SP Policy) or limited premium (Limited Premium Payment Term Policy - LPPT Policy).
  • Option to receive the discounted value of the future due installment(s) of Smart Benefits plus the terminal bonus, if any, in a lump sum amount during last 3 policy years.

Entry Age for SBI Life Smart Champ Insurance Premium and Maturity Calculator

Life Assured - SBI Life Smart Champ Insurance Premium and Maturity Calculator

  • Min: 21 years Max: 50 years
  • Child: Min: 0 years Max: 13 years, Maximum Age: 70 years
  • Child: 21 years

Basic Sum Assured - SBI Life Smart Champ Insurance Premium and Maturity Calculator

  • Min: Rs.1,00,000 (× 1,000/-) Max^: Rs. 1 Crore
  • Policy Term: 21 minus Child’s Age at entry
  • Premium Payment Term for LPPT Policy: 18 minus Child’s Age at entry
  • Premium Frequency: Single Premium / Yearly / Half-yearly / Quarterly / Monthly#
  • Premium Frequency: Loading Half-Yearly: 52.0% of annual premium
  • Quarterly: 26.5% of annual premium
  • Monthly: 8.9% of annual premium

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