LIC Premium and Maturity Calculator

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:

  • 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.
  • 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
  • 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
  • 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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