SBI Life Smart Power Plan Premium and Maturity Calculator
SBI Life Smart Power Plan Premium and Maturity Calculator - SBI's Life Smart Power Insurance policy is a non-participating unit linked insurance plan which protect your insurance as well as investment needs. The policy comes to you at a reasonable premium and is in tune with the current investment scenario. SBI's Life Smart Power Insurance policy is a flexible plan, which also protect of your liquidity needs.
Key Features - SBI Life Smart Power Plan Premium and Maturity Calculator
- Two Plan Options to choose from:
- Level Cover Option - Sum Assured chosen at inception remains the same through out the policy term
- Increasing Cover Option - The initial Sum Assured increases by 10%, without any additional underwriting, starting from 6th policy year and after every 5 years thereafter
- Advantage of Advancing the Policy Benefit to become your Living Benefit, through our Inbuilt Accelerated
- Total & Permanent Disability (TPD) benefit
- Two Fund options to choose from
- Trigger Fund Option - Advantage of ’Buying Low and Selling High’
- Smart Funds Option - Option to choose from 7 varied funds
- Flexibility through 2 free switches in a policy year
- Liquidity through Partial Withdrawal(s)
Age at Entry: Min: 18 years, Max: 45 years
Age at Maturity: 65 years
Policy Term:10 years, 15 to 30 years (both inclusive)
Premium Payment Term: Same as policy term
Premium Modes: Yearly/Half-yearly/Quarterly/ Monthly
- Min: Higher of [(10 x AP) or (0.50 x Term x AP)]
- Max: 20 x AP
Benefits - SBI Life Smart Power Plan Premium and Maturity Calculator
Maturity Benefit - SBI Life Smart Power Plan Premium and Maturity Calculator
- On completion of Policy Term, Fund Value will be paid.
Death Benefit - SBI Life Smart Power Plan Premium and Maturity Calculator
- Higher of the Fund Value or Sum Assured# is payable; with a minimum of 105% of total basic premiums paid till the time of death
- In-built Accelerated Total and Permanent Disability (TPD) Benefit: In case of TPD due to Accident or Sickness, 100% of the Death Benefit (as defined above) will be paid immediately and thereafter the policy would terminate.
Tax Benefits - SBI Life Smart Power Plan Premium and Maturity Calculator
Tax deduction under Section 80 C 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.