www.sbilife.co.

in

Why SBI Life - Smart Swadhan Neo?

In life you thrive to provide more happiness and security to your loved ones. Build a strong foundation to achieve your goals
with SBI Life - Smart Swadhan Neo, an Individual, Non-Linked, Non-Participating Life Insurance Savings Product with Return
of Premium, to meet your need of insurance, with the added advantage of getting your total premium(s) paid back on Maturity.

Key Features

• Twin benefits of:

o Protection - Life insurance coverage with ease of issuance
o 100% Return of Premiums - In case of survival till maturity, returns 100% of Total Premiums Paid# under the Policy
• Convenience: Pay premiums through a Single payment or for a Limited period (7, 10, 15 years) or throughout the policy term
• Flexibility: Choose the Policy term from 15 years to 30 years
• Enhanced Protection: Optional Accident Benefit Rider available
• Tax Benefits$: As per the prevailing norms under the Income Tax Act, 1961
$
You may be eligible for Income Tax benefits as per the applicable income tax laws in India, which are subject to change from time to time. You are advised to
consult your tax advisor on applicable tax benefits under the policy
#
Total Premiums Paid means total of all the premiums paid under the base product, excluding any extra premiums and taxes, if collected explicitly.

Illustration

Mrs. Das, a 45-year-old software professional, wants to ensure that her twins are able to get decent education even if she is
not around. She opts for SBI Life - Smart Swadhan Neo for a Sum Assured of ` 20 lakhs and SBI Life - Accident Benefit Rider
with maximum available Sum Assured under Accidental Death Benefit (upto 3 times Sum Assured under base product) and
Accidental Partial Permanent Disability Benefit (upto Sum Assured under base product) as below:

Premium Sum Annual Premium

Benefit Policy Term
Payment Term Assured (`) (Excluding taxes) (`)
Base Policy 20 Lakhs 36,109
Option A: 60 Lakhs 3,300
Accident Accidental Death Benefit (ADB)
Benefit Rider 20 years 15 years
Option B:
Accidental Partial Permanent Disability 20 Lakhs 800
(APPD)

Total Annual premium (Excluding taxes) 40,209

Scenario 1: On her survival till the end of policy term, she would receive a maturity benefit of ` 5,41,635 and live independently even
in her old age.
Limited Premium Policy with Policy Term of 20 years

Maturity Benefit at the

end of PY 20 = `5,41,635

PY 0 PY 15 PY 20

Total Premiums paid = ` 6,03,135/- (excluding taxes)

Smart
Insurance Plans Swadhan Neo
With Savings UIN:111N148V01 Apne liye. Apno ke liye.
Scenario 2: In case she meets with an accident which leads to a loss of right eye in 18th policy year, then ` 10 lakhs will be paid (50%
of APPD sum assured) and policy will continue with remaining APPD Sum Assured of ` 10 lakhs, ADB will continue with Sum Assured
of `60 lakhs and death cover of ` 20 lakhs under the base product. In case of her survival till the end of the policy term
` 5,41,635 will be paid.

Limited Premium Policy with Policy Term of 20 years

Mrs. Das met with as accident and lost her

right eye in the 18th policy years
` 10,00,000 is paid under APPD & Policy Continues

PY 0 PY 15 PY 18 PY 20

Total Premiums paid = ` 6,03,135/- (excluding taxes)

Scenario 3: In case of her unfortunate accidental death during 10th policy year, ` 80 Lakhs will be paid to her family (` 20 Lakhs under
base policy + ` 60 Lakhs under ADB).

Limited Premium Policy with Policy Term of 20 years

Death happened in the

10th policy year due to accident

PY 0 PY 10 PY 20

ADB Sum Assured of ` 60,00,000 + Base product

Total Premium paid = ` 4,02,090/- (excluding taxes) sum assured of ` 20,00,000 paid as Death Benefit

#
Total Premiums Paid means total of all the premiums paid under the base product, excluding any extra premiums and taxes, if collected explicitly.

Smart
Insurance Plans Swadhan Neo
With Savings UIN:111N148V01 Apne liye. Apno ke liye.
 Who can avail this Plan?

Age* at Entry Maximum:

Minimum: 18 years For POSPs and CPSC-SPV: 50 years
For other channels: 60 years
Maximum Age* at Maturity
For POSPs and CPSC-SPV: 65 years, For other channels: 75 years
(Cover Expiry Age)
Sum Assured Minimum: Maximum: ` 24,90,000
` 5,00,000 The Sum assured should be in the multiple of For POSPs and
CPSC-SPV: ` 50,000, For other Channels: ` 10,000
Policy Term Minimum: 15 Years Maximum: 30 Years

Policy Term / Premium Premium Payment Options Policy Term (Inclusive of Both Years)
Payment Term Single Premium 15 – 30 Years
LPPT – 7 15 – 30 Years
LPPT – 10 15 – 30 Years
LPPT – 15 20 – 30 Years
Regular Premium 15 – 30 Years

Premium Frequency Single, Yearly, Half – Yearly and Monthly##

Premium Frequency Half – Yearly – 51.00% of annual premium
Loading Monthly##– 8.50% of annual premium

Premium Premium Frequency Minimum (`) Maximum (`)

Single 19,000 7,79,000
Yearly 5,000 1,80,000
Half – Yearly 2,550 91,800
Monthly## 425 15,300

Rider SBI Life - Accident Benefit Rider: (UIN: 111B041V01)

Option A: Accidental Death Benefit (ADB)
Option B: Accidental Partial Permanent Disability Benefit (APPD)

*Age mentioned in this document is age last birthday on the date of proposal
##
Monthly mode of premium will be accepted if payment is made by Electronic Clearing System (ECS), Salary Savings Scheme or Standing Instructions (where payment is
made either by direct debit of bank account or credit card).
The Riders cannot be attached to the policies sold through POSPs and CPSC-SPV channel.
For more details on Riders, terms and conditions, exclusions, please read rider brochure.

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.

Smart
Insurance Plans Swadhan Neo
With Savings UIN:111N148V01 Apne liye. Apno ke liye.
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 Swadhan Neo, an Individual, Non-Linked, Non-Participating Life Insurance Savings Product with Return of Premium.

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.
For more details on risk factors, terms and conditions, please read the 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 Life Insurance Company Limited. Registered & Corporate Office: Natraj, M. V. Road & Western Express Highway Junction, Andheri (East),
Mumbai - 400 069. | IRDAI Regn. No.111. | CIN L99999MH2000PLC129113
3W/ver1/10/24/SP/ENG