- SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% stake and BNP Paribas Cardif owns the remaining 26%. - The document describes 5 products offered by SBI Life Insurance - SBI Life-Smart Shield (term insurance), SBI Life - Grameen Bima (micro insurance), SBI Life - Shubh Nivesh (endowment plan), SBI Life - Saral Pension (pension plan), and SBI Life - Smart Guaranteed Savings Plan (savings plan). It provides details on the key features, benefits, and terms of each plan.

1. -SABBAR TUNVAR
-CHINTAN KABRA
-DIPEN VARYANI
-ADITYA MEHTA

2. SBI LIFE INSURANCE
• SBI Life Insurance is a joint venture between State
Bank of India and BNP Paribas Cardif .
• SBI owns 74% of the total capital and BNP Paribas
Cardif the remaining 26%.
• SBI Life Insurance has an authorized capital of Rs.
2,000 crores and a paid up capital of Rs 1,000
crores.

3. 1.SBI LIFE-SMART SHIELD
UIN: 111N67VO2 PRODUCT CODE:45
• SBI Life - Smart Shield is a traditional non-participating pure
term plan, which is a one stop solution that meets all your
insurance needs.
• With Options and benefits specially tailored for those who
want best financial protection at an affordable cost, this is
the perfect plan from your preferred insurance provider.
Now your family stays protected, even when you are not
around.

4. • KEY FEATURES:
• Establishes a solid foundation for a lifetime of financial
security for your family.
• Rewards you for maintaining a healthy lifestyle.
• Wide variety of plan options to give you freedom from your
liabilities.
• Large Sum Assured rebates.
• You can also customize your coverage by choosing from a
wide range of additional benefits such as SBI Life -
Accidental Death Benefit Rider, SBI Life - Accidental Total
and Permanent Disability Benefit Rider and Accelerated
Critical Illness cover option.
• Tax benefits as per prevailing norms under the Income Tax
Act, 1961.

5. PRODUCT SNAPSHOT
Age limit Min.: 18yrs Max.: 60yrs
Age maturity Max.:65yrs
Plan options •Level Term Assurance
•Increasing Term Assurance
•Decreasing Term Assurance (Loan Protection)
•Decreasing Term Assurance (Family Income
Protection)
Sum Assured Min: Rs 25,00,000 (in multiples of Rs.1,00,000)
Max: No limit
Premium paying
term
Regular Premium - pay premium till the chosen
policy term
Single Premium - pay premium once for coverage
till the chosen policy term

6. Policy
Term
Min: 5 years
Max: For Level Term Assurance and Increasing Term
Assurance and Decreasing Term Assurance (Family Income
Protection): 30 years
For Decreasing Term Assurance (Loan Protection): Equal to
the outstanding loan term subject to maximum of 30 years
Premium
Modes
For Level Term Assurance, Increasing Term Assurance:
Single Premium (SP), or Regular Premium(RP) (Yearly /
Half-yearly / Quarterly / Monthly)
For Decreasing Term Assurance (Loan Protection)and
Decreasing Term Assurance (Family Income Protection) :
Single Premium
Premium
Amount
Min. Max.: No Limit
Single premium: Rs. 15000
Regular Premium: Rs. 5000
Half yearly: Rs. 2500
Quarterly: Rs.1250
Monthly : Rs. 450

7. • For Monthly mode, 3 Months premium to be paid in advance and
renewal premium payment through Electronic Clearing System (ECS)
or Standing Instructions (where payment is made either by direct
debit of bank account or credit card).
• For Monthly Salary Saving Scheme (SSS), 2 month premium to be paid
in advance and renewal premium payment is allowed only through
Salary Deduction.

8. • Benefits:
• Death Benefit: In case of the unfortunate demise of
the life assured during the term of the policy, the
nominee will receive the benefits, depending on the
plan option chosen.
• Maturity Benefit: No survival benefit available at the
end of the term.
Other Benefits:
•Cover Option
•Accelerated Critical Illness benefit: You have the
option to further enhance your Level Term Assurance
and Increasing Term Assurance by opting for the
Accelerated Critical Illness benefit.
• This option is available with Level Term Assurance and
Increasing Term Assurance benefit.

9. Riders:
• SBI Life - Accidental Death Benefit Rider (UIN:
111B015V02)
In case of death due to an accident, the Rider Sum Assured
is payable in addition to normal death benefit.
• SBI Life - Accidental Total and Permanent Disability
Benefit Rider (UIN: 111B016V02)
The Rider Sum Assured will be paid on the Life Assured
being found eligible for the Total Permanent Disability
Benefit as defined in the policy document.

10. TAX BENEFITS
• 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 deduction under Section 80D is available for premiums paid for
Accelerated Critical Illness cover.
• 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.

11. 2.SBI LIFE – GRAMEEN BIMA
UIN:111NO87VO1 PRODUCT CODE:1F
• The objective of this product is to provide life cover to the deprived
sections of the society at affordable costs thereby aiding them tide
over difficult times in case of an unforeseen event.
• SBI Life - Grameen Bima is an individual, pure term, micro-insurance
plan for the socially deprived and economically vulnerable segments
of the population.

12. • KEY FEATURES:
• Choose your premium: correspondingly your life insurance
cover will be determined.
• Prompt Processing & Enrolment :
• No medical examination, acceptance would be based on
satisfactory health declarations in the proposal form
• Registration based on a simple form

13. ELIGIBILITY:
Age at Entry Min.: 18 yrs Max.: 50 yrs
Policy Term 5 years
Total Premium
Amount
Min.: Rs.300 Max.: Rs.2000
Premium amounts will be in
multiples of Rs.100
Premium
Frequency
single
Sum assured Min.: Rs.10000
18-39
40-44
45-50
Max.: Rs.50000
60 times Total premium paid
40 times Total premium paid
20 times Total premium paid

14. BENEFITS
• Death Benefit :In the unfortunate event of death of the life assured
during the policy term, the nominee will receive the Sum Assured.
• Maturity Benefit :There is no maturity benefit under this plan.
• Surrender Benefit :
•Surrender is allowed from 2nd year onwards.
•No surrender benefit is payable in the last year of the policy.

15. TAX BENEFITS
• Alongside other features, this product also offers
you the following tax benefits:
• u/s 80C of the Income Tax Act 1961 on your base
premium.
• u/s 10 (10D) of the Income Tax Act 1961 on the
death proceeds.

16. 3.SBI –Shubh Nivesh
• SBI Life - Shubh Nivesh is a non- linked, with profit
Endowment Assurance product with an option of Whole Life
coverage. The basic purpose is to provide Savings, Income and
Insurance Cover to you and your family.
• Not only you can save regularly for your future but you also
have the flexibility to receive the maturity amount as a lump
sum or as a regular income for a chosen period, depending
upon your needs.

17. KEY FEATURES:
• A savings plan with flexibility of availing whole life insurance as an
add-on benefit.
•Benefits including Wealth Creation, Insurance cover and Regular
flow of income.
•Flexibility to choose between Single or Regular premium payment
•Additional rider benefits at an affordable cost
•Option to receive the Basic Sum Assured at regular intervals over a
stipulated time period of 5/10/15/20 years
•Comprehensive risk coverage through 3 Riders:
•SBI Life - Preferred Term Rider
•SBI Life - Accidental Death Benefit Rider
•SBI Life - Accidental Total & Permanent Disability Benefit Rider
•Tax benefits as per prevailing norms under the Income Tax Act, 1961

18. Product Snapshot
Age* at Entry Min.: 18 years
Max.: Endowment Option:
RP - 58 years
SP - 60 years
Endowment with Whole
Life option - 50 years
Maximum Age* at Maturity
65 years, which increases to 100 years if the
Endowment with Whole Life option is taken
Sum Assured Min: Rs.75,000 (x 1,000/-
)
Max: No Limit

19. Premium Frequency
Loading
Half-Yearly: 52% of annual premium
Quarterly: 26.5% of annual premium
Monthly: 8.9% of annual premium
Premium Min. Max.
Based on the minimum
Sum Assured
No Limit
Yearly: Rs.6,000 No Limit
Half yearly: Rs. 3,000 No Limit
Quarterly: Rs. 1500 No Limit
Monthly: Rs. 500 No Limit
Policy Term Min. endowment option
7 (RP)/5(sp) years
Endowment with whole
life option
15(RP)/(SP) years
Min. 30 years endowment
term

20. How does it work ?
SBI Life – Shubh Nivesh has two options:
• Endowment Option: ▪ The base plan is a traditional endowment plan
with simple reversionary bonuses which accrue till the end of the
endowment term. The sum assured with all accrued bonuses will be
paid on survival till the end of the endowment term or on earlier
death.
• Endowment with Whole Life Option: ▪ If you opt for a policy term of
15 years or more you also have an option to extend your cover for
the whole life (or 100 years of age). The option gives you an
Endowment + Whole life plan whereby, in addition to the
Endowment plan benefits you are entitled to an additional amount
equal to the basic sum assured on survival till age 100 years or on
earlier death during the extension period.

21. Tax Benefit
• 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, subject to the
premium not exceeding 10% of the sum assured in any of the years
during the term of the policy.
• Tax benefits, are as per the Income Tax laws & are subject to change
from time to time.

22. 4.SBI LIFE-SARAL PENSION
UIN:111N088V02 PRODUCT CODE: 1E
•Retirement - means giving up work and continuing to Celebrate Life!
•SBI Life - Saral Pension is an Individual, Participating, Non Linked,
Traditional Pension Plan, which offers you complete safety from market
volatility, by providing you a secure future and a joyous retirement.

23. • Key Features:
• Guaranteed Bonus: Guaranteed simple reversionary Bonuses for first
5 years; @ 2.50% for first three years and @2.75% for the next two
years, of the Sum Assured. Guaranteed bonus will be applicable only
to in-force policies.
• Vesting (Maturity) benefit: Sum Assured plus vested simple
reversionary bonuses plus terminal bonus, if any. The sum assured
carries an implicit guaranteed interest rate of at least 0.25% p.a.
compounding annually on the total premiums.
• Death Benefit: Higher of total premiums paid accumulated at an
interest rate of 0.25% p.a. compounded annually plus vested
reversionary bonus plus terminal bonuses, if any or 105% of total
premiums paid.

24. • Key Features:
• Life Cover: Option of additional life cover through SBI Life - Preferred
Term Rider (UIN: 111B014V02).
• On Vesting, you can buy immediate annuity from your entire
proceeds or commute upto one-third of the policy proceeds and buy
annuity with the rest.
• Flexibility: You can defer the vesting date upto age of 70 years or
extend the accumulation / deferment* period of your policy.

25. PRODUCT SNAPSHOT
Age Entry Min.: 18years Max.: For Single
premium:65years
For regular
premium:60years
Age at maturity Min.:40 years Max.:70 years
Policy Term Min.: For Single premium: 5 years Max.: 40
yrs
For Regular Premium:10 years
Sum Assured Min.: Rs.1,00,000/ Max.: No limit
Premium Frequency Single/half yearly/yearly/monthly
Monthly premium-8.4% of annual premium
Half –yearly premium- 5.2 % of annual premium
Premium
Min.:Rs.7500 p.a. Max.: No limit

26. • 3 Months premium to be paid in advance and renewal premium
payment through Electronic Clearing System (ECS) or Standing
Instructions (where payment is made either by direct debit of bank
account or credit card].
• For Monthly Salary Saving Scheme (SSS), 2 month premium to be
paid in advance and renewal premium payment is allowed only
through Salary Deduction.
• Sum Assured is always greater than or equal to Total premiums paid
accumulated at an interest rate of 0.25% p.a. compounded annually

27. BENEFITS
• Vesting Benefit:
On attaining the vesting age, the vesting benefit proceed will be the
Sum Assured plus Vested Simple Reversionary bonus plus Terminal
bonus, if any. You have the following options:
• To purchase immediate annuity from the entire policy proceeds.
• To purchase immediate annuity with an option to commute upto
one-third of the policy proceeds as per current Income Tax* rules.
• To utilize the entire proceeds to purchase a Single premium deferred
pension product.
• To extend the accumulation period or defer the vesting date,
provided you are below age of 55 years on vesting. The maximum
extended period will be up to age 70 years.

28. • Death Benefit:
In an event of death of the policyholder, the death benefit proceed
will be higher of total premiums paid accumulated at an interest rate
of 0.25% p.a. compounded annually plus vested reversionary bonus
plus terminal bonuses, if any, or 105% of total premiums will be paid
to the nominee.
• The nominee will have the following options:
• To receive entire proceeds as lump sum
• Utilize the entire proceeds of the policy or part thereof for purchasing
an annuity at the then prevailing rate.
• The annuity should be purchased from SBI Life only.
• The annuity rates available for the purchase of this annuity will be
based on the prevailing annuity rates on the immediate annuity
product.

29. TAX BENEFITS
• Premium paid under this policy is eligible for tax deduction u/s 80CCC
of the Income Tax Act.
• On vesting, the policy holder can currently commute up to one-third
of the policy proceeds as per Income Tax Act, 1961. This commuted
value is exempted from tax under section 10(10A) (iii) of the Income
Tax Act 1961. The non commuted pension amount taken in the form
of immediate annuity is currently taxable.
• Under section 10(10D) of the Income Tax Act 1961, the lump sum
death proceeds are not taxable.

30. 5.SBI Life - Smart Guaranteed Savings Plan
• Presenting SBI Life - Smart Guaranteed Savings Plan, a traditional
Non-participating Individual Savings Plan that provides your savings a
boost with Guaranteed Additions (Conditions Apply#).
• In addition, your family has total peace of mind as you have a
protection of insurance cover.
• while you enhance your good habit of saving, we reward you with
loads of add on benefits.

31. • KEY FEATURES:
• Get Guaranteed Additions (GAs)#, at the end of each policy year,
depending upon the installment premium amount chosen.
• Guaranteed Additions are added at the simple rate of 5.5% or 6% and
will apply to the cumulative basic premiums paid.
• Pay premiums only for a limited period of 7 years and enjoy the
benefits throughout the policy term of 15 years .
• Get Life Insurance coverage, based on the premium chosen.

32. • For basic premium band Rs 15,000-29,000, the % of GA is 5.5% & for
basic premium band Rs 30,000-75,000, the % of GA is 6%.
• For paid-up policies, GAs would be paid on a proportionately
reduced rate.
• Basic Premium is the premium excluding Service Tax, any
underwriting extra etc.

33. PRODUCT SNAPSHOT
Age at Entry Min. 18yrs Max.:50 yrs
Maximum Age
at maturity
65 years
Policy Term 15 years
Premium
Payment Term
7 years
Premium
frequency
Yearly
Premium
amount
Min. : rs.15000 Max.: Rs.75000
Sum assured Depends on the premium chosen

34. • BENEFITS:
• Maturity Benefit (For In-force policies): On completion of Policy
Term, Basic Sum Assured Plus accrued Guaranteed Additions, will be
paid.
• Death Benefit (For In-force policies): In the unfortunate event of
death of the Life Assured, ‘Sum Assured on death’ along with accrued
guaranteed additions will be payable to the beneficiary. Where, Sum
Assured on death is Higher of (Basic Sum Assured or 10 times the
Annualized Premium or 105% of total premiums paid as on the date
of death).

35. • 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.