SBI Life - Smart Bachat Plan

SBI Life - Smart Bachat is an individual, non-linked, participating endowment assurance plan. The product comes with two plan options – i) Endowment option and ii) Endowment option with in-built Accidental Death and Total Permanent Disability Benefit. It provides the policyholder the flexibility to choose the policy and premium paying term (limited premium pay), as per the individual’s convenience and financial goals.

About SBI Life - SBI Life is one of the top life insurance providers in India. It is a joint venture between State Bank of India and global insurer BNP Paribas Cardif. SBI Life offers a range of life insurance products at competitive prices. (Note - All the information contained in this page has been sourced from the official website of SBI Life.)

The benefits offered under SBI Life - Smart Bachat are as under:

Maturity Benefit for both Options - If the policyholder survives till the end of the policy period, then Guaranteed Sum Assured on maturity + Vested Simple Reversionary Bonuses + Terminal bonus, if any, shall be paid out.

Death Benefit for both Options

On the life assured’s demise during the policy period, the beneficiary is entitled to get higher of: a) Sum Assured on demise + Vested Simple Reversionary Bonuses + Terminal Bonus, if any. Here, Sum Assured on death is higher of Basic Sum Assured or 10 times annualized premium b) 105% of all the premiums paid till the date of demise.

Inbuilt Accidental Death and Total Permanent Disability Benefit (applicable only for Option B)

In the event of Accidental Death of the life assured during the policy period, then

• AD&TPD Benefit would be payable in lump sum plus
• Death benefit

In case of Accidental Total and Permanent Disability of the life assured during the policy period, then

• AD&TPD Benefit would be paid in lump sum,
• All future premiums shall be waived off and
• The base plan continues till surrender, demise or maturity, whichever is earlier.

• Sbi Life Smart Platina Assure | Sbi Life Smart Bachat | Hdfc Life Sampoorn Samridhi Plus | Lic New Bima Bachat
• Icici Prudential Future Perfect Plan | Lic Limited Premium Endowment Plan | Sbi Life Smart Women Advantage
• Sbi Life Smart Humsafar | Sbi Life Smart Samriddhi Plan | Tata Aia Life Secure 7 Plan | Tata Aia Pos Smart Income Plus

SBI Life - Smart Bachat is a long-term life insurance policy with limited premium paying term. It is designed to financially protect the loved ones of the policyholder in the event the individual is no more. Additionally, the policy helps to meet the investment needs of the policyholder. SBI Life - Smart Bachat offers simple reversionary bonuses throughout the policy period.

SBI Life - Smart Bachat is intended to keep the policyholder’s obligation of premium payment over the long-term at bay. Individuals have the flexibility of choosing the premium payment term as well as the policy term, as per their financial goals. Tax benefits can be claimed under Section 80C of the Income Tax Act, 1961, for the premiums paid toward the policy.