SBII Life Smart Money Back Gold Plan

SBI Life Smart Money Back Gold is a participating Money Back Plan which provides lump sum amount at regular intervals thereby meeting cash requirements at various stages of life. It also provides comprehensive coverage for protection purposes

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

Investment Plans

Guaranteed Tax Savings^Under sec 80C & 10(10D)
Under sec 80C & 10(10D)Invest ₹10k Per Month*
Zero LTCG Tax^

Buy Online & Get upto 4% extra#

Get Guaranteed returns along with life cover

invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

It is a participating plan with regular premium payment option
Customized Money back solutions under 4 plan options to suit individual needs
Total survival benefits paid @ 110% of the Sum Assured

Comparison Between

Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund

Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund

Guaranteed Return Plans

Returns Before Tax

7.5% ^(TAX-FREE)

Returns After Tax

7.5%

Guaranteed Returns

Yes

Life Cover

Yes

Tax on Profit

Tax Free*

Risk

No Risk

Still Better than FD’s and Debt Mutual Fund

Fixed Deposits

Returns Before Tax

7% ^(TAXABLE)

Returns After Tax

4.8%

Guaranteed Returns

Yes

Life Cover

Tax on Profit

Taxable

Risk

Low Risk

Debt Mutual Fund

Returns Before Tax

8% ^(TAXABLE)

Returns After Tax

5.5%

Guaranteed Returns

Life Cover

Tax on Profit

Taxable

Risk

High Risk

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*For annual premium upto ₹5 Lacs

Benefits

On maturity, the last instalment of survival benefits along with accrued reversionary bonuses and terminal bonus is paid
On death of the policyholder , higher of the basic SA on death including vested bonuses and terminal bonus, if any, or 105% of premiums paid till death is paid to the nominee
SA on death is expressed as 7 or 10 times the annual premium paid depending on the age of the policyholder
Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	Options 1 & 2 – 15 years Options 3 & 4 – 14 years	Options 1 & 2 – 55 years Option 3 – 50 years Option 4 – 45 years
Maturity Age (Last Birthday)	27 years	70 years
Policy Term (PT) in years	12 / 15 / 20 / 25 years under options 1,2,3 & 4 respectively
Premium Paying Term (PPT) in years	Equal to policy term
Premium Paying Frequency	Annual, half-yearly, quarterly, monthly
Premium	Yearly – 4500 Half-yearly – 2400 Quarterly – 1200 Monthly - 400	No limit
Sum Assured	75,000	No limit

Details About Premium

Annual premium in Rupees for a male aged 30 years

Plan Options	Option 1	Option 2
Policy term	12 years	15 years
Premium	53,325	42,815
Sum Assured	500,000	500,000
Survival Benefits	20% at the end of 4^th year, 25% at the end of 8^th year and 65% on Maturity	15% of SA paid at the end of 3,6,9,12 years and 50% on Maturity
Vested Bonuses @ 4%	131,100	163,875
Vested Bonuses @ 8%	207,000	258,750

Policy Details

Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy and receive the Surrender Value. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = GSV Factor * Basic premiums paid excluding survival benefits already paid including the GSV of accrued bonuses
SSV = Paid-up Value on maturity * SSV Factor
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

Loan is not available under the plan

Additional Features or Riders

Rebates for Large Sum Assured ranges of 2 lakhs and above
Option of 4 riders for a comprehensive coverage:

SBI Life- Accidental Death Benefit Rider
SBI Life – Accidental Total and Permanent Disability Benefit Rider
SBI Life – Preferred Term Rider
SBI Life – Criti-Care 13 Non-Linked Rider

Exclusions

In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ