www.sbilife.co.

in

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.
“The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will
not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end
of fifth year”

Why SBI Life - Smart Privilege Plus?

'SBI Life - Smart Privilege Plus' (An Individual, Unit-linked, Non–Participating, Life Insurance Savings Product) gives you life
insurance coverage along with the flexibility to make multiple switches and premium re-directions amongst 12 diverse funds with
loyalty additions to boost your fund value.
• Life Insurance Cover: Provides financial support to the family on occurrence of any insured event.
• Long Term Wealth Creation: Goal based savings can be done by getting the benefit of Loyalty Additions* and Market Linked
Returns.
• Pay premiums throughout the policy term or for a limited period or through a Single Payment, as per your convenience and
enjoy benefits including Life Insurance Cover, throughout the chosen policy term.
• Fund Flexibility: Based on your risk-return appetite, you can choose amongst 12 fund options and also easily manage your
investment by way of unlimited free Switches and Premium Re-directions from first policy year onwards.
• No Premium Allocation Charge from 6th policy year.
• Loyalty Additions starting from end of 6th policy year at specific intervals, for in-force policies only
• Tax Savings**
• Liquidity: Partial withdrawals available from 6th policy year.
* Applicable for in-force policies from 6th policy years at specific durations
** Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

Illustration

Mr. Jain has availed SBI Life-Smart Privilege Plus policy. The details are as below:
Plan Type – Regular Pay Policy Term – 20 years
Age – 30 years Frequency - Yearly Premium Payment Term (PPT) – 20 years
Premium – `15,00,000 p.a. Sum Assured – `1,05,00,000 Fund – 100% Bluechip Fund

1. Maturity Benefit (Lumpsum)

On the maturity date, Jain’s maturity benefit, based on the assumed investment returns, is as per the table given below:

Annualized Premium of : `15,00,000 for 20 Years Fund Value^^ at Maturity

at assumed rate of
@4% `4,19,26,220
@8% `6,56,86,822
PY 0 PY 20
2. Death Benefit
In case of Jain’s unfortunate death at the end of 10th policy year, the death benefit, based on the assumed investment returns,
is as per the table given below:
Death Benefit^^ at
Annualized Premium of : `15,00,000 for 10 Years assumed rate of
@4% `1,72,85,162
@8% `2,15,19,168

PY 0 PY 20
^^Figures are for illustrative purposes & for healthy life. Please note that the above mentioned assumed rates of returns @4% and @8% p. a., are only illustrative
scenarios, after considering all applicable charges. These are not guaranteed and they are not higher or lower limits of returns. Unit Linked Life Insurance products are
subject to market risks. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans and their future
prospects or returns. For more information, please request for your policy specific benefit illustration.

Smart
Privilege Plus Apne liye. Apno ke liye.
UIN: 111L143V01
 Plan Details

Age1 at Entry Minimum: Maximum:

Regular Pay /Limited Pay: 8 years$$ 55 years
Single Pay: 13 years
Age1 at Maturity Minimum: Maximum:
18 years 70 years

Plan Type Regular Pay / Limited Pay / Single Pay

Plan Type Policy Term (Years) Premium Payment Term (Years)

Regular Pay 10 to 30 (both inclusive) Same as policy term
Premium Payment
Term (PPT) and Min: 5
Corresponding Policy Limited Pay 15 to 30 (both inclusive)
Max: Policy Term minus 1 year
Term (PT)
One time payment at
Single Pay 5 to 30 years (both inclusive)
policy inception
Plan Type Minimum (`) Maximum (`)
Yearly: 6,00,000
Regular Pay/ Half – Yearly: 3,00,000 No Limit
Premium Amount
Limited Pay Quarterly: 1,50,000 Shall be as per Board
Monthly: 50,000 Approved Underwriting Policy
Single Pay 6,00,000
Premium Frequency Single/Yearly / Half – Yearly / Quarterly / Monthly^

Plan Type Sum Assured

Sum Assured Regular Pay & 7 × Annualized Premium2

Limited Pay
Single Pay 1.25 × Single Premium3
1
Age mentioned in this document is age last birthday.
2
Where Annualized Premium means the premium amount payable in a year, excluding taxes, rider premiums and underwriting extra premiums on riders, if any.
3
Single Premium means the premium amount payable in lump sum at policy inception excluding taxes, rider premiums and underwriting extra premium on riders, if any.
^
For monthly mode, upto 3 months premium to be paid in advance and renewal premium payment is allowed only though ECS, Credit Card, Direct debit and SI-EFT. For
Monthly Salary Saving Scheme (SSS), upto 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction.
$$
"In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity life assured should be a major. In case of minor lives, date
of commencement of policy and date of commencement of risk shall be same.

Prohibition of Rebates:
Section 41 of Insurance Act 1938, as amended from time to time, states:
a) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue
an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission
payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept
any rebate, except such rebate as may be allowed in accordance with the published prospectus or tables of the insurer.
b) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten
lakh rupees.

Toll-free No.: 1800 267 9090 | SMS ‘LIBERATE’ to 56161 | Email: [email protected] | Web: www.sbilife.co.in
(Customer Service Timing: 24X7)
SBI Life - Smart Privilege Plus is an Individual, Unit-linked, Non-Participating, Life Insurance Savings Product.
SBI Life Insurance Company Limited and SBI are separate legal entities.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS
IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone
calls are requested to lodge a police complaint.
Various charges such as ‘Premium Allocation Charges’, ‘Fund Management Charges’ etc. are deducted. All the charges except Premium Allocation Charges and Mortality
Charges are subject to revision as per the prevalent Regulations. For the complete list of charges and their workings, please refer the Sales Brochure. Unit Linked Life Insurance
products are different from the traditional insurance products and are subject to market risks. The premium paid in Unit Linked Insurance policies are subject to investment
risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured
is responsible for his/her decisions. SBI Life Insurance Company is only the name of the insurance company and SBI Life – Smart Privilege Plus is only the name of the unit linked
life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges,
from your insurance agent or the intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way
indicate the quality of these plans, their future prospects or returns. Past performance of the Funds is not indicative of future performance.
All benefits payable under this policy are subject to tax laws and other fiscal enactments in-effect from time to time, please consult your tax advisor for details. For more details
on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Trade logo displayed above belongs to State Bank of India and is used by
SBI Life under license. SBI LifeInsurance Company Limited. Registered and Corporate Office: Natraj, M. V. Road & Western Express Highway Junction, Andheri (East),
Mumbai - 400 069. | IRDAI Regn. No. 111 | CIN L99999MH2000PLC129113
3N/ver1/08/24/SP/ENG