sbilife.co.in eWealth Insurance : SBI Life

Organisation : SBI Life Insurance Company Ltd
Facility : eWealth Insurance

eWealth Insurance : http://www.sbilife.co.in/sbilife/content/30_8825
Home Page : http://sbilife.co.in/sbilife/content/home?ln=en

eWealth Insurance :

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
“The Linked Insurance products do not offer any liquidity during the first five years of the contract.

Related : SBI Life Premium Calculator : www.statusin.in/19809.html

The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year”

Introduction:
** SBI Life – eWealth Insurance is a non-participating Online Unit Linked Insurance Plan (ULIP).
** Enhancing your wealth is as important as earning it.
** As you make efforts to create wealth, you can count on our expertise to grow it sustainably with SBI Life – eWealth insurance plan.
** There are two plan options available under this product, Growth and Balanced.
** The premium is invested in the plan option chosen by you through the Automatic Asset Allocation (AAA) feature.
** The AAA feature allows you to take higher exposure to equity in the initial policy years and gradually increases the exposure to less risky Debt or Money market instruments.
** As your policy gets closer to maturity, funds flow from Equity to Money Market, thereby giving you the benefits of market linked returns and also protecting your investments from short term fluctuations.

Key Features:
** Hassle free investment management through Automatic Asset Allocation.
** Choice of two plans options – Growth and Balanced.
** Premiums starting as low as Rs 10,000 for yearly mode and Rs. 1,000 for monthly mode.
** No Premium Allocation Charges, thereby enhancing your Fund Value.
** Easy and Simple 3 Step Online Buying Process.
** Twin benefits of Life Insurance Cover and Market Linked Returns.
** Liquidity through Partial Withdrawal(s) from 6th policy year onwards.
** Get Section 80C benefit on your premiums paid, as well as Section 10(10D) benefit on the maturity amount, subject to conditions*.

Benefits:
Maturity Benefit (Applicable only for in-force policies): On completion of Policy Term, Fund Value will be paid.

Death Benefit (Applicable only for in-force policies): Higher of the Fund Value or Sum Assured## is payable; with a minimum of 105% of total premiums paid till the date of intimation of death.

*Tax Benefits:
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.

SBI Life – eShield :
SBI Life – eShield is an Individual, Non Linked, Non Participating pure term plan, with options and benefits specially tailored for those who want the best financial protection at an affordable cost.

Key Features:
** Security for your family at an affordable premium.
** Easy and seamless online process for securing life cover.
** Rewards you for maintaining a healthy lifestyle.
** Wide variety of plan options, which has level and increasing cover.
** Additional benefit of Accidental Death Benefit.
** Tax benefits* as per prevailing norms under the Income Tax Act, 1961

Effective Sum Assured :
Level Cover and Level Cover with Accidental Death Benefit: Effective Sum Assured on any day is equal to the Basic Sum Assured.

Increasing Cover and Increasing Cover with Accidental Death Benefit : Effective Sum Assured on any day will be the Basic sum assured increased at the rate of 10% simple interest after every 5th policy year without increasing the premium.

Benefits:
On Death:
** Depending upon the Plan option chosen, the nominee will receive the Effective sum assured at the time of death.
** Death benefit will be paid provided all regular premiums are paid and the policy is in force as on the date of claim.

On Maturity: No survival benefit available at the end of the term.

Other Benefits:
Accidental Death Benefit: Inbuilt under plan options – Level Cover with Accidental Death Benefit and Increasing Cover with Accidental Death Benefit.
** In case one of the above plan options is chosen, then in case of death of the life assured due to accident during the policy term, Accidental Death Benefit will be paid to the beneficiary in addition to the effective sum assured at the time of death.
** The Accidental Death Benefit will be equal to the Basic sum assured or Rs. 50 Lakhs whichever is lower