LIC Premium and Maturity Calculator

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
Sum Assured:

  • 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.

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