SBI Life Saral Maha Anand Plan

Introduction/Overview
SBI Life Saral Maha Anand is a non-participating unit linked insurance plan growth opportunities through capital market participation and taking care of the future needs

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

ULIP Plans

Plan starting from ₹1,000/month
Save upto ₹46,800 in Tax under section 80C^{^}
Zero LTCG Tax^¶
In built life cover

Top performing plans with High Returns^**

Invest ₹10K/month & Get ₹1 Crore^# on Maturity

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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 unit linked plan with regular premium payment option which can be availed easily without any medical examinations
There is a feature of Guaranteed Additions of up to 30% of Annual Premium

The following 3 funds are available for investment:

Equity Fund
Balanced Fund
Bond Fund

Benefits

The insured will get the total Fund Value on Maturity
On death, higher of the basic SA net of any partial withdrawals already made from the Fund Value or Fund Value or 105% of the premiums paid till death is paid to the nominee
The policyholder can choose to receive the Maturity Benefit in instalments after the policy term in 5 years. This is called the Settlement Option.
Guaranteed Additions are paid from the end of the 10^th policy year @ 5% and increase every 5 years by 5%
Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	55 years
Maturity Age (Last Birthday)	-	65 years
Policy Term (PT) in years	10	20
Premium Paying Term (PPT) in years	Equal to policy term
Premium Paying Frequency	Yearly, half-yearly, quarterly, monthly
Premium (in Rs.)	Yearly – 15,000 Half-yearly – 9500 Quarterly – 5500 Monthly - 2000	Yearly – 29,000 Half-yearly – 14,500 Quarterly – 7200 Monthly - 2400
Sum Assured	10* Annual Premium for ages <45 years & 7* Annual Premium for ages >45 years.	20*Annual Premium

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Details About Premium

Illustration for a policy term of 15 years

Age	30 years	40 years
Premium	20,000	20,000
Sum Assured	200,000	200,000
Fund Value @ 4%	346,834	344,751
Fund Value @ 8%	480,809	478,063

Policy Details

Grace Period: 30 days grace period is allowed for payment of premium

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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 SBI life insurance policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

One free partial withdrawal is allowed from the 6^th year which should be a minimum of Rs.2000 and maximum of 15% of the Fund Value as on the date of withdrawal
Premium redirection is available from the 2^nd policy year
2 free switches are allowed per policy year

Additional Features or Riders

No Premium Allocation Charges from the 11^th policy year
Accident Death Benefit Linked Rider is available under the plan

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Exclusions

The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.

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