impact of sbi life insurance
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About SBI Life Insurance with BenefitsTRANSCRIPT
INTRODUCTION
SBI Life Insurance is a joint venture life insurance company
between State Bank of India (SBI), the largest state-owned banking and financial
services company in India, and BNP Paribas Assurance. SBI owns 74% of the
total capital and BNP Paribas Assurance the remaining 26% of the capital. SBI
Life Insurance has an authorized capital of 2000 crore (US$310 million)and a
paid up capital of 1000 crore (US$150 million).
In 2007, CRISIL Ltd, a subsidiary of global rating agency Standard &
Poor's, gave the company a AAA/Stable/P1+ rating.
When the government of India opened the life insurance sector to private
companies, SBI started SBI Life as a joint venture with BNP Paribas in 2001.
While in its initial stage its business was mainly from bancassurance channel,
now it is developing its own agency team for selling its life insurance products.
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.
Along with its 5 Associate Banks, State Bank Group has the unrivalled
strength of over 18,000 branches across the country, arguably the largest in the
world.
BNP Paribas Cardif is the life and property & casualty insurance arm of
BNP Paribas, one of the strongest banks in the world. BNP Paribas Group,
having presence in more than 80 countries ranks highly in Retail Banking,
Investment Solutions and Corporate & Investment Banking. BNP Paribas Cardif
is one of the world leaders in creditor insurance and its life and non-life
insurance units have received an AA rating from Standard & Poor’s.
SBI Life Insurance has launched a guaranteed traditional savings
plancalled Smart Income Protect. It offers tax-free regular income at a
guaranteed rate of 11 per cent of the sum assured or paid sum assured, for 15
years after maturity.
The offer comes with a life insurance cover. The policyholder will receive
a lump sum bonus at maturity, and regular guaranteed payout for 15 years after
the maturity. The lump sum bonus comprises vested reversionary bonuses and
terminal bonus, if any.
In the event of the policyholder’s death, the sum assured is immediately
payable to policyholders’ nominee or legal heir as a lump sum, along with the
bonuses.
HISTORY
State Bank of India
State Bank of India (SBI) is a multinational banking and financial
services company based in India. It is a government-owned corporation with its
headquarters in Mumbai, Maharashtra. As of December 2012, it had assets
of US$501 billion and 15,003 branches, including 157 foreign offices, making it
the largest banking and financial services company in India by assets.
The bank traces its ancestry to British India, through the Imperial Bank of
India, to the founding in 1806 of the Bank of Calcutta, making it the oldest
commercial bank in the Indian Subcontinent. Bank of Madras merged into the
other two presidency banks—Bank of Calcutta and Bank of Bombay—to form
the Imperial Bank of India, which in turn became the State Bank of
India. Government of India nationalised the Imperial Bank of India in 1955,
with Reserve Bank of India taking a 60% stake, and renamed it the State Bank of
India. In 2008, the government took over the stake held by the Reserve Bank of
India. SBI was ranked 285th in the Fortune Global 500 rankings of the world's
biggest corporations for the year 2012.
SBI provides a range of banking products through its network of branches
in India and overseas, including products aimed at non-resident Indians(NRIs).
SBI has 14 regional hubs and 57 Zonal Offices that are located at important
cities throughout the country. SBI is a regional banking behemoth and has 20%
market share in deposits and loans among Indian commercial banks.
The State Bank of India was named the 29th most reputed company in the
world according to Forbes 2009 rankings and was the only bank featured in the
"top 10 brands of India" list in an annual survey conducted by Brand
Finance and The Economic Times in 2010.
The roots of the State Bank of India lie in the first decade of 19th century,
when the Bank of Calcutta, later renamed the Bank of Bengal, was established
on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the
other two being the Bank of Bombay (incorporated on 15 April 1840) and
the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks
were incorporated as joint stock companies and were the result of the royal
charters. These three banks received the exclusive right to issue paper currency
till 1861 when with the Paper Currency Act, the right was taken over by the
Government of India. The Presidency banks amalgamated on 27 January 1921,
and the re-organised banking entity took as its name Imperial Bank of India. The
Imperial Bank of India remained a joint stock company but without Government
participation.
Pursuant to the provisions of the State Bank of India Act of 1955,
the Reserve Bank of India, which is India's central bank, acquired a controlling
interest in the Imperial Bank of India. On 1 July 1955, the Imperial Bank of
India became the State Bank of India. The government of India recently acquired
the Reserve Bank of India's stake in SBI so as to remove any conflict of interest
because the RBI is the country's banking regulatory authority. In 1959, the
government passed the State Bank of India (Subsidiary Banks) Act, which made
eight state banks associates of SBI. A process of consolidation began on 13
September 2008, when the State Bank of Saurashtra merged with SBI.
SBI has acquired local banks in rescues. The first was the Bank of Behar
(est. 1911), which SBI acquired in 1969, together with its 28 branches. The next
year SBI acquired National Bank of Lahore (est. 1942), which had 24 branches.
Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank, which had
been established in 1916 in Gwalior State, under the patronage of
Maharaja Madho Rao Scindia. The bank had been the Dukan Pichadi, a small
moneylender, owned by the Maharaja. The new banks first manager was Jall N.
Broacha, a Parsi. In 1985, SBI acquired the Bank of Cochin inKerala, which had
120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore,
already had an extensive network in Kerala.
The State Bank of India and all its associate banks are identified by the
same blue keyhole logo. The State Bank of India wordmark usually has one
standard typeface, but also utilises other typefaces.
Vision :
"To be the most trusted and preferred life insurance provider "
Mission :
"To emerge as the leading company offering a comprehensive range of life
insurance and pension products at competitive prices, ensuring high standards of
customer satisfaction and world class operating efficiency, and become a model
life insurance company in India in the post liberalization period".
Values :
• Trustworthiness
• Ambition
• Innovation
• Dynamism
• Excellence
SBI Life has a unique multi-distribution model encompassing vibrant
Bancassurance, Retail Agency, Institutional Alliance and Corporate Solutions
distribution channels.
SBI Life extensively leverages the State Bank Group relationship as a platform
for cross-selling insurance products along with its numerous banking product
packages such as housing loans and personal loans. SBI’s access to over 100
million accounts across the country provides a vibrant base for insurance
penetration across every region and economic strata in the country, thus ensuring
true financial inclusion. Agency Channel, comprising of the most productive
force of over 80,000 Insurance Advisors, offers door to door insurance solutions
to customers.
Key Milestones
Financial Year 11-12:
Awarded the most coveted NDTV Profit Business Leadership Award,
twice in a row, 2010 & 2011.
Awarded ‘Most Trusted Life Insurance Brand - II By The Economic
Times, Brand Equity and Nielsen, Most Trusted Brands 2011.
Globally topped the prestigious Million Dollar Round Table (MDRT) for
having the maximum number of MDRT members, for three years
consecutively.
CRISIL reaffirmed its AAA / Stable rating to SBI Life, indicating
highest financial strength to meet policyholder obligations.
ICRA reaffirmed its iAAA rating indicating highest claims paying ability
and a fundamentally strong position.
Won one of the most prestigious quality distinction, IMC Ramkrishna
Bajaj National Quality Awards 2011- "Certificate of Merit"
Awarded Silver Shield by ICAI for Excellence in Financial Reporting for
FY 2010 – 11 under the Insurance category.
Won ’Best Presented Accounts Award‘ by The South Asian Federation
of Accountants (SAFA), in the Insurance Category for the Annual Report
FY 2009-10.
Financial Year 10-11:
SBI Life won the coveted Bloomberg UTV Financial Leadership Award
2011 - "Life Insurer of the year".
Won the most coveted NDTV Profit Business Leadership Award 2010.
Globally topped the prestigious Million Dollar Round Table (MDRT)
2010 for having the maximum number of MDRT members.
Awarded the Gold Shield by Institute of Chartered Accountants of India
(ICAI) for Excellence in Financial Reporting.
Won the ‘ICS Quality Champion Award 2010’ for Continual Quality
Improvement.
Adjudged Best Life Insurer 2010 - Runner Up by Outlook Money.
Launched an innovative customer care initiative - SMS ‘SOLVE’ for
prompt Grievance Redressal.
Appraised at Maturity level 3 of Capability Maturity Model Integration
(CMMI) Version 1.2 for its ISG Division.
ICRA reaffirmed ’iAAA’ rating to SBI Life, indicating highest claims
paying ability and meeting policyholders obligations.
CRISIL, country’s leading rating agency, reaffirmed its highest financial
rating AAA/Stable to SBI Life.
Financial Year 09-10:
Reported a robust Net Profit of Rs.276 Crores.
Crossed Rs.10,000 Crores in Gross Written Premium (GWP).
Assets Under Management (AUM) grew by 96% to Rs.28, 551 Crores.
Globally topped the prestigious MDRT 2009 for having Maximum
number of MDRT Members.
ICRA reaffirmed iAAA rating to SBI Life indicating highest claims
paying ability.
Awarded ISO Certification (ISO/IEC 27001:2005) for Information
Security Management System (ISMS).
Retained ISO 9001:2000 certificate for superior claim settlement process.
Financial Year 08-09:
Ranked among global top three in terms of number of Million Dollar
Round Table (MDRT) members.
Bagged the coveted personal finance award-Outlook Money NDTV Profit
"Best Life Insurer 2008".
CRISIL, country’s leading rating agency, reaffirmed its highest financial
rating AAA/Stable to SBI Life. In 2007, SBI Life became the first life
insurer in India to receive this rating from CRISIL.
ICRA assigned iAAA rating indicating highest claims paying ability to
SBI Life Insurance.
Retained ISO 9001:2000 certificate for superior claim settlement process.
Financial Year 07-08:
Ranked amongst global top five life insurance companies in the number
of MDRT members.
Rated as the ’The Most Trusted Private Life Insurer’ according to a
survey conducted by Brand Equity in association with AC Nielsen ORG-
MARG and the Economic Times Intelligence Bureau.
Received the highest financial rating ’AAA’ from CRISIL.
Forayed into micro insurance with the launch of ’Grameen Shakti’ in
Bhubaneshwar, Orissa for the economically underprivileged sections of
society.
Received ISO 9001: 2000 certification for superior claim settlement
process.
Received CMMI Level 3 certification for IT processes and software
development capabilities.
Financial Year 06-07:
Second consecutive year of Profitability More than 6.40 Million lives
covered
Financial Year 05-06:
Reported a robust net profit of Rs. 2.02 Cr
SBI Life’s CSR Initiative on World Leprosy Day
Coinciding the World Leprosy Day i.e. 30th January, SBI Life supported a
Leprosy Eradication Trust - Loknayak, by donating ambulance.
Mr. Atanu Sen, MD & CEO, SBI Life presenting the ambulance keys to Dr.
Jagdish Samant, International Award Winner and Founder of Loknayak
Jayaprakash Narayan Leprosy Eradication Trust
SBI Life’s CSR Initiative - Enabling Mentally Challenged Children
Life participated in Mumbai Marathon 2013 to support mentally challenged
children through its CSR partner - Swayamsiddh.
Mr. Atanu Sen, MD & CEO presented the contribution cheque for SBI Life’s
CSR Initiative to Dr. Vandana Mehta, Swayamsiddh - CSR Partner for enabling
mentally challenged children in the presence of Mr. Sudhin Roy Chowdhury,
Member (Life), IRDA.
Team SBI Life with writer Chetan Bhagat at Mumbai Marathon 2013
Gift Drishti
One of our corporate ethos, enhancing our SBI Life brand value,
is about giving back to the society. In line with our Corporate
Social Responsibility (CSR) initiatives, the cause of supporting
our Elderly Citizens was initiated. Incidence of cataract
blindness, annually at 3.28 million, is one of the most prevalent health ailments
suffered by old people, particularly in rural pockets of our country.
On the occasion of World Elder’s Day on 1st October, CSR initiative - "Gift
Drishti" (Restoring vision) was launched in partnership with HelpAge India, a
registered national level voluntary body, working for the cause of disadvantaged
aged persons. Restoring vision is done through Intra Ocular Surgery (IOL). SBI
Life employees made monetary contributions to the cause. SBI Life donated
twice the sum contributed by its employees. Eye sight for thousands of elderly
citizens was restored across the rural parts of the country.
Gift Drishti Camps
Read India Pledge
SBI Life undertook the Corporate Social Responsibility (CSR)
initiative, aimed at driving the cause to make children read and
write. The campaign, "Read India Pledge" sensitized general
public towards the cause and urged them to pledge & support
the cause monetarily or by devoting time.
The campaign was partnered by Pratham, one of the leading child-cause related
NGOs and Radio Mirchi, a leading radio station.
Read India Camps
Services
SBI Life offers a wide range of services to you where not only you can track
your account, generate premium online. Also you can now pay your premium
online with our Electronic Clearing Service (ECS) which is convenient and
minimizes time & effort. Click on the links on the left menu to explore the
services offered.
Contact Us
We’re always eager to hear from you - Please send your queries /suggestions:
Email us: [email protected]
Call us: Toll Free Numbers: 1800 22 9090 / 1800 222 123 / 1800 425 9010
(Customer Service timings: 9:00 a.m. to 9:00 p.m., seven days a week)
Corporate Office:
Telephone No. : 022 - 6191 0000
Write to us:
Corporate Address: SBI Life Insurance Co. Ltd., "Natraj", M.V. Road &
Western Express Highway Junction, Andheri (East), Mumbai - 400 069
INDIVIDUAL PLANS
Protection Plans
Protection Plans are low cost insurance plans which are specially designed to
provide full protection & financial stability to your family in case of any
unforeseen events.
SBI Life presents range of attractive protection plans so that you can continue to
celebrate life without worrying about the uncertainities of life. .
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# u/s 80C and 10(10D) of Income Tax Law, 1961.
Product Snapshot
Plan Options • Level Cover
• Level Cover with Accidental Death Benefit
• Increasing Cover
• Increasing Cover with Accidental Death Benefit
Age^ at Entry Min: 18 years Max: For Level Cover &
Level Cover with Accidental
Death Benefit: 65 years
For Increasing Cover &
Increasing Cover with
Accidental Death Benefit: 60
years
Maximum Age^
at Maturity
70 years
Basic Sum
Assured
Min: Rs. 20,00,000/-
Sum Assured would be
in multiples of Rs.1,
00,000 only.
Max: No Limit (Subject to
underwriting)
Policy Term Min: For Level Cover
& Level Cover with
Accidental Death
Benefit: 5 years
For Increasing Cover &
Increasing Cover with
Accidental Death
Benefit: 10 years
Max: 30 years
Premium
Frequency
Yearly
Premium
Payment term
Same as Policy term
Premium
Amount
Min: Rs. 3,500 Max: No Limit
^ All the references to age are age as on last birthday.
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.
SBI Life - Smart IncomeShield Insurance
SBI Life - Smart IncomeShield Insurance – A plan that gives you a
advantage against eventualities of death, disability or critical illness by
providing you with a income benefit, which can meet your and your family’s
daily lifestyle finances.
SBI Life - Smart IncomeShield Insurance is a non-participating term
insurance Policy.
Key Features
• Establishes a solid foundation for a lifetime of financial security,
ability to continue to maintain the lifestyle for your family.
• Customize your policy with various plan options :
• Basic Plan - provides monthly income benefit in an event of
death
• Monthly income benefit as opted will be paid for the
payout term as chosen,
• Additional benefit equal to 12 times the monthly income
will be paid as lump sum immediately.
• Advantage Plan - provides monthly income benefit in an event
of death or Critical illness or Total permanent disability,
whichever occurs first.
• Monthly income benefit as opted will be paid for the
payout term as chosen,
•
Additional benefit equal to 12 times the monthly income
will be paid as lump sum immediately
• Flexibility to choose Monthly income benefit payout.
• Benefit Option I : Regular monthly payouts for 5 years
Product Snapshot:
Plan option Basic Plan: Benefit payable in event of death
Advantage Plan^ : Benefit payable in event of
death / Total Permanent Disability (TPD) due to
Accident or Sickness / Critical Illness, whichever
is earlier
Age* at Entry Basic Plan: Min : 18 years; Max: 65 years
Advantage Plan: Min: 18 years; Max: 60 years
Age* at Maturity Basic Plan : 70 years
Advantage Plan : 65 years
Policy Term Min: 5 years Max: 25 years
Payout Term Benefit Option I : 5 years
Benefit Option II: 10 years
Benefit Option III: Outstanding Policy Term
Monthly Income
Benefit
Basic Plan
Min: Rs 10,000 p.m.
Max: No Limit
Advantage Plan
Min: Rs. 10,000 p.m
Max: Rs. 50,000 p.m.
Premium Paying Term
(PPT)
• Regular premium (Same as policy term)
•
Limited Premium payment
term[LPPT] (Applicable only for Benefit
Option III under both Basic Plan &
Advantage Plan)
Sum Assured 12 x Monthly Income benefit x Payout term
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly#
Limited Premium Payment Term (LPPT).
LPPT is offered only for Benefit Option III under both Basic Plan &
Advantage Plan mentioned above. The Premium payment term will be as
follows:
Policy Term 5 6 7 8 9 10 11
PPT 3 4 4 5 6 6 7
Policy Term 12 13 14 15 16 17 18
PPT 8 8 9 10 10 11 12
Policy Term 19 20 21 22 23 24 25
PPT 12 13 14 14 15 16 16
Benefits:
• Death Benefit: Basic Plan/Advantage Plan
• Monthly income benefit as opted will be paid for the payout
term as chosen,
• Additional benefit equal to 12 times the monthly income will be
paid as lump sum immediately.
• Critical Illness or Total and Permanent Disability (TPD) Benefit:
Basic Plan: Not Applicable.
Advantage Plan
• Monthly income benefit as opted will be paid for the payout
term as chosen,
• Additional benefit equal to 12 times the monthly income will be
paid as lump sum immediately.
• Maturity Benefit: No maturity benefits are payable.
• Paid Up benefit :
• Paid-ups are not applicable for Benefit Options I and II
• Paid-up value payable under Benefit Option III (Basic Plan &
Advantage plan)Z
• Tax Benefits
• U/s 80C of the Income Tax Act 1961 on your premiums.
• U/s 10(10D) of the Income Tax Act 1961 on your death proceeds under
the policy.
• Tax benefits as per prevailing norms under the Income Tax Act, 1961.
Tax laws are subject to change in future.
SBI Life - Smart Shield
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.
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 – Accidental Death Benefit Rider (UIN:
111B015V01), Accidental Total and Permanent Disability Rider UIN:
(111B016V01) and Accelerated Critical Illness cover option.
• Tax benefits as per prevailing norms under the Income Tax Act, 1961.
Product Snapshot:
Plan Options
Option I Level Term Assurance
Option II Increasing Term Assurance
Option III Decreasing Term Assurance(Loan Protection)
Option IV Decreasing Term Assurance(Family Income
Protection)
Term
Minimum Policy Term 5 years
Maximum Policy Term For Option I, II & IV - 30 years
For Option III - Equal to the outstanding loan
term subject to maximum of 30 years
Premium
Minimum Premium Single Premium :- Rs. 15,000/-
Regular Premium:-
Yearly: Rs. 5,000/-
Half-Yearly: Rs.2,500/-
Quarterly: Rs.1,250/-
Monthly: Rs. 450/-
Premium Mode Single/ Yearly / Half yearly / Quarterly /
Monthly **
Age*
Minimum Entry Age 18 years
Maximum Entry Age 65 years
Sum Assured
Minimum Sum Assured Rs. 25,00,000 (× Rs. 1,00,000)
Maximum Sum Assured No Limit
Riders Available
SBI Life - Accidental Death Benefit Rider (UIN: 111B015V01)
SBI Life-Accidental Total & Permanent Disability Benefit Rider (UIN:
111B016V01)
Options Available under the Product
Accelerated Critical Illness Benefit
* All the references to age are age as on last birthday. **For monthly mode, 3 months premium to be paid in advance and renewal
premium payment is allowed only through ECS, Credit card, Direct debit
and SI-EFT
Benefits:
• Death Benefit: Depending on the plan option chosen, the nominee will
receive the effective Sum Assured under this policy.
• Maturity Benefit: No survival benefit available at the end of the term.
• Other Benefits:
• Riders:
• SBI Life - Accidental Death Benefit Rider (UIN:
111B015V01): 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: 111B016V01):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.
• Cover Option: 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.
• 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 80 (D) is available for premiums paid
towards Accelerated Critical Illness Benefit.
• 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. Please consult your tax advisor for details.
SBI Life - Saral Shield
SBI Life - Saral Shield is a traditional non-participating pure term plan, At a
affordable cost, Saral Shield provides cover for your family and ensures that
a proper safety net is created. Thus, it guarantees that there will be
absolutely no compromise on your dreams and ambitions for your loved
ones, at all times.
Isn’t it great? So, get the Shield advantage now!!
Key Features:
• Hassle-free, convenient and easy issuance.
• Financial Security.
• Wide varieties of plan options to give you freedom from your liabilities.
• Large sum assured rebates.
• Enhance your protection by availing two riders- Accidental Death Benefit
Rider (UIN: 111B015V01) and Accidental Total and Permanent
Disability Rider (UIN: 111B016V01).
• Tax benefits as per prevailing norms under the Income Tax Act, 1961.
Product Snapshot:
Age at Entry Min: 18 years Max: 60 years
Age at Maturity Max: 65 years
Plan Options Level Term Assurance
Decreasing Term Assurance (Loan Protection)
Decreasing Term Assurance (Family Income
Protection)
Sum Assured(x
50,000/-)
Min: Rs. 7,50,000 Max: Rs. 24,00,000
Policy Term Min: 5 yearsMax:
For Level 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 Paying Same as policy term
Premium Modes For Level Term Assurance:
Single Premium (SP), or Regular Premium(RP)
(Yearly / Half-yearly / Quarterly / Monthly**)
For Decreasing Term Insurance (Loan
Protection) & DecreasingTerm Insurance (Family
Income Protection) : Single Premium
Min Premium
Amounts
Regular Premium:
Yearly Rs. 2,000/-
Half-yearly Rs. 1,100/-
Quarterly Rs. 600/-
Monthly Rs. 250/-
Single Premium: Rs. 10,000/-
All the references to age are age as on last birthday.
Instant Premium Reckoner##
Age of
Life
Assured
(years)
For SA - Rs. 10 Lakhs For SA - Rs. 20 Lakhs
Policy Term (in years)/
Premium (in Rs)
Policy Term (in years)/
Premium (in Rs)
10 15 20 25 10 15 20 25
25 2,052 2,052 2,188 2,413 3,442 3,442 3,713 4,163
30 2,197 2,409 2,711 3,132 3,731 4,157 4,759 5,602
35 2,778 3,204 3,775 4,459 4,893 5,745 6,888 8,255
40 3,726 4,483 5,350 6,379 6,791 8,304 10,038 12,096
45 5,421 6,556 7,866 NA 10,179 12,449 15,070 NA
Note: ## The above annual level term assurance premiums are for a
standard, healthy male life and are inclusive of service tax as well as
high sum assured rebate, wherever applicable.
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 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. Please consult your tax advisor for details..
SBI Life - Swadhan
SBI Life - Swadhan is an affordable traditional term Insurance policy with
refund of part / Total basic premium paid at the end of the term to the
policyholder.
As a Maturity benefit, you receive a repayment of your premium
contribution towards the policy. Available at a low premium, it can provide
security to your loved ones.
Key Features:
• Protection at affordable premium.
• Guaranteed refund of basic premium paid on Survival at the end of the
term, depending upon the term of the policy.
• Life cover comes to you at no cost**
• Tax benefit u/s 80 C and 10 (10 D) of IT Act
• Additional 5% rebate for Female lives
• Rebate on High Sum Assured
• Flexible benefit premium paying mode
• Free look period of 15 days
** If you survive the policy term, you will receive a lump-sum repayment of
your premium contributions towards the policy depending on the chosen
term.
Product Snapshot:
Term
Minimum Policy Term 5 years
Maximum Policy Term 10 years
Premium
Premium Mode Quarterly / Half yearly / Yearly
Age
Minimum Entry Age 18 years
Maximum Entry Age 65 years
Maximum Cover Age 70 years
Sum Assured
Minimum Sum Assured Rs 3 Lakhs
Maximum Sum Assured Rs 1 Crore
How does it work?
• You can take a cover ranging from 5-10 years. In the unfortunate event
of death, the nominee would receive the entire sum assured as a lump
sum payment.
• If you survive the entire term, you would be eligible to a refund of
premiums depending upon the term of policy. For example, if your
policy is for 5 years, you’d be eligible for refund of 50% of the total
premiums paid; for 6 years, the refund would be 60%, and so on. Hence,
if you’ve taken a policy for 10 years, you’d receive 100% of your
premiums back as refund.
Benefits:
• Maturity Benefit: If you survive for the entire term of the plan, you
would be eligible to a refund of the premiums depending upon the term
of the policy.
Term Percentage of Basic Premium refunded
5 years 50%
6 years 60%
7 years 70%
8 years 80%
9 years 90%
10 years 100%
•
Death Benefit: In the event of claim, your nominee would receive full
Sum Assured.
• Riders Available: No Riders are available.
SBI Life - Grameen Bima
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.
Key Highlights :
• Choose your premium, correspondingly your life insurance cover will
be determined.
• Prompt Processing & Enrolment
• No medical examination required *
• Registration based on a simple form
* Conditions apply
Eligibility
Age* at entry Minimum: 18 years Maximum: 50 years
Policy Term 5 years
Premium Amount Minimum: Rs. 300** Maximum: Rs. 2000**
Premium amounts will be in multiples of Rs. 100
Premium
Frequency
Single
Sum Assured
Minimum: Rs. 10,000 Maximum: Rs. 50,000
Age Band Sum Assured
18 - 39 60 times Single premium paid
40 - 44 40 times Single premium paid
45 - 50 25 times Single premium paid
* All references to age are age as on last birthday
Benefits under the plan:
• 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.
• 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.
Unit Linked Plans
The equity market may have its ups and downs, but you now have a protective
shield that will safeguard your investments, while providing upside potential.
SBI Life brings you ’Smart Performer’, a Unit Linked, Non Participating
insurance product that offers you the twin benefits of ’Higher than the Highest’
of the daily NAV Guarantee and the prospect of market upside. What’s more, it
also allows you to protect your gains through Automatic Rebalancing facility
and offers you a choice of Single and Limited Premium Payment options.
Key Features:
Guarantee at maturity based on ’5% Higher than Highest Guaranteed
NAV’ during the first seven years or prevailing NAV at Maturity,
whichever is higher, subject to conditions#.
Enjoy the best of both worlds - Guarantee only or Guarantee and Market
Upside through our Plan offerings - ‘Secure Plan’ and ‘Secure N Grow
Plan’ respectively
‘Automatic Rebalancing’ facility to lock-in your gains, available under
‘Secure N Grow Plan’ option
Convenience through single premium (SP) or 5 year Premium Paying
Term (PPT)
Life Insurance coverage with minimum Sum Assured of 10 times or 7
times of your Annualised Premium (AP), based on your age.
Liquidity through Partial Withdrawal(s)
Option to customize the product with Accidental Death Benefit
SBI Life - Unit Plus® Super
SBI Life – Unit Plus Super is a flexible non participating Unit linked
insurance Plan, specially designed to meet your changing requirements at
various stages of life. With a wide array of funds, riders and other options,
this product gives you the complete freedom to fulfill all your investment
and insurance needs. And that’s not all; we now also offer you guaranteed
additions and choice of payment options, giving you superior value.
Key Features:
• Guaranteed Additions# of up to 75% of one annual regular premium on a
regular premium policy, for a 30 year policy term, subject to the Policy
being in force till the maturity date.
• No Policy Administration fee for first 5 years for Regular and Limited
Premium Paying Term (LPPT) plans, thereby boosting your fund value
• No Premium Allocation Charge from 11th year onwards
• Guaranteed Additions starting as early as 10th policy year onwards
• Enhanced investment opportunity through 9 varied Fund Options
including P/E Managed Fund, Index Fund & Top 300 Fund
• Option to pay Regular/Limited/ Single Premium; Switch or Redirect your
premiums
• Flexible product with an option to increase/decrease your Sum Assured
from 6th year onwards
• Life Insurance coverage, with minimum Sum Assured, based on your age
• Liquidity through Partial Withdrawals.
• Option to customize the product with a wide range of riders: SBI Life -
Criti Care 13 Rider (UIN: 111A018V01), SBI Life - Accidental Death
Benefit Linked Rider (UIN: 111A019V01), SBI Life - Premium Payor
Waiver Benefit Rider (UIN: 111A017V01) and SBI Life - Income
Sustainer Rider (UIN: 111A020V01).
SBI Life - Saral Maha Anand
SBI Life - Saral Maha Anand is a product created just for you, which will
pleasantly surprise you with its sheer simplicity and convenience! It is a unit
linked non participating Life Insurance Plan, which lets you manage your
investments according to your risk appetite, giving you the power to realise
market related returns on your policy. You can choose your required Life
Insurance cover subject to a minimum and maximum limit.
Key Features:
• No medical examination, Simple joining process#.
• Liquidity through Partial Withdrawals.
• Guaranteed Additions## of up to 30% of one annual premium,
for a 20 year policy term, subject to the Policy being in force
till the maturity date.
• Option to avail additional rider benefit under SBI Life -
Accidental Death Benefit Linked Rider (UIN: 111A019V01)
• 4 Fund options, to enjoy market related returns as per your
risk appetite.
• Twin Benefit of Market linked returns & insurance cover.
SBI Life - Smart Elite
SBI Life - Smart Elite is a Unit Linked Insurance plan - an exquisitely crafted
product, exclusively for special customers like you. It gives you flexibility to pay
premium(s) for limited term or single premium, with the freedom to stay
invested and protected for long term. What’s more, you have the power of
choosing the option best suited to your needs. All this and more, coming from
SBI Life – your preferred insurer, adds enormous value to your investments.
Key Features:
• Pay premiums only for a limited term of 5, 8 or 10 years or a Single
Payment, as per your convenience and enjoy benefits throughout the chosen
policy term.
• No Premium Allocation Charges from 6th policy year onwards, thereby
enhancing your fund value.
• Two protection options available: Gold Option & Platinum Option
• Invest in wide range of funds and manage them as per your convenience.
• Life Insurance coverage with minimum Sum Assured of 10 or 7 times of
your Annual Premium (AP), based on your age.
• Switch and redirection facility, to pilot your investments.
• Option to increase/decrease your Sum Assured from 6th policy year
onwards.
• Accidental Death and Accidental Total and Permanent Disability
(Accidental TPD) benefit automatically comes to you as an integral part of
the plan!
SBI Life - Smart Scholar
Life begins afresh when you become a parent. It’s a joy you never felt and a
feeling you never experienced. When your child takes baby steps towards
you, you wonder what else bliss could be?
Amidst all this divine happiness, there’s a new sense of responsibility that
fills your heart. Like you may not really believe that life’s a rose bed or a
tender cushion, but you certainly want it to be for your lovely children. At
SBI Life, we understand and we provide you with a flexible and all-
encompassing solution through our SBI Life - Smart Scholar Plan.
Choose the one that suits you and your child’s needs best. Our specially
crafted SBI Life - Smart Scholar Plan is as accommodating as you are to
your child.
Key Features:
• Secure your child’s future by gaining from the financial markets and
much more.
• Dual protection for your family, in case you are not around –
• Payment of base Sum Assured and
•Inbuilt Premium Payor Waiver benefit to ensure continuance of your
benefits.
• In addition, Accident Benefit which includes Accidental Death benefit
and Accidental Total and Permanent Disability (Accidental TPD)
benefit, is an integral part of the plan.
• Free allocation of units by way of regular Loyalty Additions, giving
periodic boosts to your investments.
• Enhanced investment opportunity through 9 varied fund
options including P/E Managed Fund, Index Fund & Top 300 Fund.
• Twin benefits of market linked return & insurance benefit.
• Liquidity through partial withdrawal(s).
SBI Life - Smart Horizon
SBI Life – Smart Horizon is a non participating Unit Linked Life Insurance
Plan. With Smart Horizon, we give you a hassle free way to get market
linked returns through the feature of Automatic Asset Allocation, so you
truly don’t need to be an expert to grow your money! Should you be keen on
managing your money actively, we also give the freedom to take charge of
your investments.
Key Features:
• No Premium Allocation Charge from 2nd year onwards, thereby
enhancing your fund value.
• Hassle free investment management by way of Automatic Asset
Allocation, also a choice to manage your investments actively by
choosing between 4 diverse fund options at your disposal.
• You can also enjoy the best of both worlds, by a combination of
Automatic Asset Allocation and the Active Fund Management options.
• Life Insurance coverage, with minimum Sum Assured based on your age.
• Flexible product with an option to increase or decrease your Sum
Assured, from 6th year onwards.
• Switch and redirection facilities, to give you the power for active
management of your investments.
• Option to customize the product with a wide range of riders: SBI Life -
Criti Care 13 Rider (UIN: 111A018V01), SBI Life - Accidental Death
Benefit Linked Rider (UIN: 111A019V01), SBI Life - Premium Payor
Waiver Benefit Rider (UIN: 111A017V01) and SBI Life - Income
Sustainer Rider (UIN: 111A020V01).
SBI Life - Smart Wealth Assure
Equity Market Performance is affected by many variables like Economic
condition, Liquidity, Corporate Performance, Global Markets etc. Thus you
are not sure what returns you will get on your hard earned money.
SBI Life realises the same and brings to you ‘Smart Wealth Assure’ which
takes care of all these variables and gives you ‘Peace of Mind’ by providing
a Minimum NAV Guarantee Plus Upside, if any. SBI Life - Smart Wealth
Assure is a unit Linked non participating Life Insurance Plan. The Plan is
further fortified with many power packed features which takes care of your
financial needs.
Key Features:
• Option to choose a mix of funds providing Guaranteed Return and
Market Linked Returns
• Guaranteed Return provided through Return Guarantee Fund (RGF)
which guarantees a Minimum Pre-specified NAV, subject to
conditions**
• Apart from minimum guarantee, any upside in the RGF will also be
paid to You…
• Market Linked Returns provided through 3 funds – Bond Fund, Equity
Fund & P/E Managed Fund to give you the best possible returns
• Pay only once and get the benefits throughout the Policy Term
• Liquidity through Partial Withdrawal(s)
CHILD PLAN
SBI Life - Scholar II
A traditional participating plan, SBI Life - Scholar II has guaranteed benefits
which are payable at the regular intervals during the term of the policy. In an
unfortunate event, your nominee would receive full sum assured along with
vested bonus, plus regular guaranteed survival benefit.
Key Features:
• Twin benefit of saving for your child’s education and securing a bright future
despite the uncertainties of life.
• Full risk cover throughout the policy term irrespective of payment of survival
benefits installments.
• Option to receive the installments in lump sum at the due date of first
installment of Survival benefit.
• Rebate for Female lives and High Sum Assured.
• 15 days Free Look Period.
SBI Life - Smart Scholar
Life begins afresh when you become a parent. It’s a joy you never felt and a
feeling you never experienced. When your child takes baby steps towards
you, you wonder what else bliss could be?
Amidst all this divine happiness, there’s a new sense of responsibility that
fills your heart. Like you may not really believe that life’s a rose bed or a
tender cushion, but you certainly want it to be for your lovely children. At
SBI Life, we understand and we provide you with a flexible and all-
encompassing solution through our SBI Life - Smart Scholar Plan. Choose
the one that suits you and your child’s needs best. Our specially crafted
Smart Scholar Plan is as accommodating as you are to your child.
Key Features:
• Secure your child’s future by gaining from the financial markets and
much more.
• Dual protection for your family, in case you are not around –
• Payment of base Sum Assured and
•Inbuilt Premium Payor Waiver benefit to ensure continuance of your
benefits.
• Accident Benefit which includes Accidental Death benefit and
Accidental Total and Permanent Disability (Accidental TPD) benefit, is
an integral part of the plan.
• Free allocation of units by way of regular Loyalty Additions, giving
periodic boosts to your investments.
• Enhanced investment opportunity through 9 varied fund
options including P/E Managed Fund, Index Fund & Top 300 Fund.
• Twin benefits of market linked return & insurance benefit.
• Liquidity through partial withdrawal(s).
PENSION PLAN
SBI Life - Saral Pension
Retirement – means giving up work and continuing to Celebrate Life! SBI
Life - Saral Pension is a traditional, participating pension plan which offers
you complete safety from market volatility, by providing you a secure future
and a joyous retirement.
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.
• Death Benefit: Total premiums paid till date accumulated at an interest
rate of 0.25% p.a. compounded annually plus vested reversionary bonus
plus terminal bonuses, if any.
• Life Cover: Option of additional life cover through SBI Life - Preferred
Term Rider (UIN: 111B014V01).
• 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
SBI Life - Annuity Plus
SBI Life - Annuity Plus, a traditional, non-participating immediate annuity
plan, which offers a comprehensive range of annuity options along with
inbuilt flexibilities. It provides an opportunity to you to maintain your
standard of living.
Key Features:
• Complete freedom to choose from a wide range of Annuity options
• Enjoy a regular income (“annuity payout”) from an early age of 40
years
• You have an option to have Lifetime Annuity payout for you as well as
a family member
• Flexibility to choose frequency of annuity payouts as per your
requirements – Monthly, Quarterly, Half-yearly or Yearly
• Incentives of higher annuity rates for large premiums
• Option of availing SBI Life- Accidental Death Benefit Rider
(UIN:111B015V01)
• Flexibility to advance your Annuity payouts
• Return of premium or balance premium
Saving Plans
SBI Life - Smart Income Protect
SBI Life - Smart Income Protect is a savings plan with added advantage of
life cover and regular cash inflow at the time you need. It is a participating
traditional plan where you continue to pay your regular premiums over a
period of 5, 10 or 15 years. Thereafter your payout period starts, where you
get guaranteed regular annual payouts over a period of 15 years, meeting
your various financial obligations.
Key Features:
• Plan that provides Insurance Cover and Regular Income.
• Choose your policy term from 5, 10 or 15 years.
• Guaranteed annual payouts* (conditions apply) of 11% of Sum
Assured/Paid up Sum Assured over a period of 15 years after maturity. The
first instalment will be paid at the end of first year during the payout
period.
• Vested Reversionary bonuses plus Terminal bonus, if any, will be paid as
lump sum at the end of the policy term, at maturity.
• Customize your coverage through the wide range of additional rider
benefits - SBI Life - Accidental Death benefit rider (UIN: 111B015V01),
SBI Life - Accidental Total & Permanent Disability benefit rider (UIN:
111B016V01), SBI Life - Criti Care 13 Non Linked Rider (UIN:
111B025V01), SBI Life – Preferred Term Rider (UIN 111B014V01).
SBI Life - Smart Money Back Insurance
Smart Money Back Insurance is a savings plan with added advantage of life
cover and cash inflow at regular intervals. It is participating traditional
money back plan, meeting your various financial obligations at crucial
junctures by its wide range of policy terms.
Key Features:
• Money Back options specially tailored to suite your requirements
• Fixed cash inflows which can meet your various financial obligations
• Survival Benefit of 110% to 125% of Sum Assured paid till maturity
• Large Sum Assured discount
• Customize your coverage through the wide range of additional benefits -
SBI Life - Accidental Death Benefit Rider (UIN:111B015V01), SBI Life -
Accidental Total & Permanent Disability Rider (UIN:111B016V1), SBI
Life - Preferred Term Rider (UIN: 111B014V01), and SBI Life - Criti
Care 13 Non Linked Rider (UIN:111B025V01).
• Given below are the charts with various term options and accompanying
Survival Payments:
Survival Benefit Installments (% of Basic Sum Assured)
Options
Term /
Year
End
(years)
4 5 8 10 12 15 20 25
Total (%
of Basic
Sum
Assured)
Option
112 20% 25%
65% +
Vested
Bonus
110%
Option
215 20% 25%
70% +
Vested
Bonus
115%
Option
320 10% 20% 30%
60% +
Vested
Bonus
120%
Option
425 10% 10% 15% 30%
60% +
Vested
Bonus
125%
SBI Life - Flexi Smart Insurance
SBI Life – Flexi Smart Insurance, an Individual, Non-Participating
traditional life insurance cum savings plan, which helps you in fulfilling all
your dreams. It gives you flexibility to adapt to your ever-changing needs,
while assuring guaranteed benefits to take care of your savings.
Key Features:
• Guaranteed Interest Rate: Guaranteed interest rate of 2.50% p.a.,
will be guaranteed for the entire policy term.
• Interim Interest Rate: An interim interest rate will be declared at
the beginning of every financial year, which will be equal to or more
than Guaranteed Interest Rate and will be guaranteed for that year.*
• Additional Interest Rate: An additional interest rate may also be
declared, as on 31st March, every year, based on the performance of
the Company.
• Your policy account will be credited with interim interest
rate and additional interest rate, if any
• Flexibilities:
• Flexibility in premium frequency -> Yearly, Half Yearly,
Quarterly and Monthly.
• Option of premium holiday during the policy term.
• Enjoy complete flexibility to increase or decrease your Sum
Assured.
• Option to choose sum assured multiplier factor (SAMF).
• Option to boost your investments through Top-ups.
SBI Life - Sanjeevan Supreme
SBI Life – Sanjeevan Supreme is a traditional Saving Plan with added
advantage of life cover and guaranteed cash inflow at regular intervals
tailored to suit all your needs and requirements. This plan is designed for
individuals who want to plan for various financial obligations at specified
times in life. It provides you with financial support for fulfilling all your
long term and short term goals. Further, it offers you a life cover for the term
of your choice and that too without burdening you premium payment for the
entire term.
Key Features:
• The plan has a number of moneyback options specially suited to your
needs.
• The cover is available at affordable premium rates.
• It has guaranteed cash inflows which can meet your various financial
obligations.
SBI Life - Shubh Nivesh
SBI Life - Shubh Nivesh is an Endowment 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.
Key Features:
• A Savings cum Insurance Plan with the flexibility of Whole Life option as
an add-on
• Triple benefits of Wealth Creation, Regular Income and Insurance Cover
under a single plan
• Convenience of premium payment options - Single Premium and Regular
Premium
• Comprehensive risk coverage through 3 Riders:
• SBI Life - Preferred Term Rider (UIN:111B014V01)
• SBI Life - Accidental Death Benefit Rider (UIN:111B015V01)
• SBI Life - Accidental Total & Permanent Disability Rider
(UIN:111B016V01)
• Option to receive the Basic Sum Assured at regular interval over a
stipulated time period of 5/10/15/20 years.
• Tax benefits as per prevailing norms under the Income Tax Act, 1961
How does it work?
SBI Life – Shubh Nivesh has two options:
Endowment Assurance: 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
death during the endowment term or survival till the end of the endowment
term.
Whole Life Endowment: The policyholder has to opt for the Whole Life
Endowment option at the proposal stage itself, wherein the sum assured
along with the accrued bonus till the end of the endowment term will be paid
to the policyholder, and an amount equal to the basic sum assured will be
paid on the life assured attaining 100 years of age or on the death of the life
assured, if earlier.
SBI Life - Saral Life
SBI Life - Saral Life, a traditional, participating endowment plan which
helps you to meet any requirement in life and is designed with a
difference…a take away insurance especially weaved for you with the
threads of Simplicity, Availability & value for your money.
Key Features:
• A savings cum insurance cover with easy acceptance.
• Enrolment based on Simplified Questionnaire and Good Health
Declaration.
• Instant Processing.
• Flexibility in Coverage - Sum Assured in options of Rs.1 lakh /
Rs.2 lakhs / Rs.3 lakhs.
• Customize your coverage period by choosing from 10/15/20/25
years, as per your requirement.
• Tax benefits as per prevailing norms under the Income Tax Act,
1961.
OBJECTIVE OF THE STUDY
The investment objectives of the Company are to maximize the risk
adjusted returns and ensure reasonable liquidity at all times. Management of the
investment portfolio is a crucial function as investment risk and returns, inter
alia, determine the ability of the Company to competitively price its products,
ensure solvency at all times and earn the expected profitability. The investment
policy outlined in this document seeks to set the direction and philosophy for the
Company’s investment operations. The Policy outlined below conforms to the
IRDA Investment Regulations and the Insurance Act. The Policy covers
investment parameters, exposure norms and other relevant factors that will assist
in taking prudent investment decisions. The Policy framework also takes into
account asset liability management, market risks, portfolio duration, liquidity
considerations, and credit risk. To summarize the investment policy aims to
achieve the following Investment
Objectives:
a) To acquire and maintain quality assets that will meet the liabilities
accepted by the Company;
b) To be able to meet the reasonable expectations of the policyholders taking
into account the safety of their funds with optimum Return;
c) To adhere to all Regulatory provisions;
d) To conduct all the related activities in a cost effective and efficient
manner; and
e) To achieve performance in line with benchmarks identified for the
different investment portfolios.
The Company has also defined the Investment Objectives for each Fund
separately, on the basis of aforesaid broader Investment objectives.
ANALYSIS & INTERPRETATION
Q.1. Do you know SBI Life Insurance?
S.N. Options Response (%)
1 Yes 90
2 No 10
Total 100
98%
2%
YesNo
Interpretation:
According to the respondent most of respondent has an insurance, and
10% respondent don’t have any policy of any company.
Q.2. Have you taken insurance policy?
S.N. Options Response (%)
1 Yes 98
2 No 02
Total 100
98%
2%
YesNo
Interpretation:
98% respondent had been taken insurance policy and only 2% respondent
don’t have any policy.
Q.3. Are you happy with insurance plan which you have taken?
S.N. Options Response (%)
1 Yes 70
2 No 30
Total 100
98%
2%
YesNo
Interpretation:
Most of respondent has satisfied with whatever they have been take plan,
but some respondent are not satisfying with his policy, they want to
something different.
Q.4. Have you taken any insurance plan from SBI Life?
S.N. Options Response (%)
1 Yes 70
2 No 30
Total 100
98%
2%
YesNo
Interpretation:
The market of SBI Life insurance 70% respondent have been taken a
policy in SBI Life, other 30% has different.
Q.5. How many plan have you taken from SBI Life Insurance?
S.N. Options Response (%)
1 One 30
2 Two 30
3 More than Two 25
4 None 15
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
51
Interpretation:
According to the survey 30% respondent have one plan, 30% respondent
have two and more than two has 25% other 15% respondent don’t have
any plan.
Q.6. In which type of plan you would like to invest of your future planning?
S.N. Options Response (%)
1 Long term unit linked plan 05
2 Short term unit linked plan 05
3 Long term Traditional Plan 40
4 Short Term Traditional Plan 50
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
51
Interpretation:
According to the survey 50% short term traditional plan, 40% long term
traditional plan, 5% short term unit linked plan and 5% long term unit linked
plan respondent have invest for his future planning.
Q.7. Which company would you prefer for your family protection and saving?
S.N. Options Response (%)
1 LIC 80
2 SBI Life 15
3 HDFC Life 03
4 ICICI Prudential 02
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
5
1
Interpretation:
According to the survey 80% LIC, 15% SBI Life, 3% HDFC Life and 2%
respondent ICICI Prudential for family protection and saving.
Q.8. Customer Services of SBI Life Insurance is?
S.N. Options Response (%)
1 Good 70
2 Better 05
3 Best 02
4 Average 13
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
51
Interpretation:
According to the survey 70% good, 13% average, 5% better, 2% best for
Customer services of SBI Life Insurance.
Q.9. Do you think SBI Life Insurance is safe place for your investment?
S.N. Options Response (%)
1 Yes 90
2 No 10
Total 100
98%
2%
YesNo
Interpretation:
Most of respondent told SBI Life insurance is the best option for investment.
Q.10. How do you plan for saving your tax from your annual income?
S.N. Options Response (%)
1 Insurance 70
2 5 Year FD 17
3 PPF 08
4 Loan 05
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
51
Interpretation:
Most of respondent preferring insurance for saving tax, other 17% prefer 5 year
FD, 8% PPF, 5% Loan.
Q.11. Do you want to start a career with SBI Life as an Insurance Advisor?
S.N. Options Response (%)
1 Yes 05
2 No 95
Total 100
98%
2%
YesNo
Interpretation:
Most of respondent don’t want to be start his career with SBI Life Insurance.
Q.12. Do you know what is your ‘Life Value’ for your family protection?
S.N. Options Response (%)
1 Yes 98
2 No 02
Total 100
98%
2%
YesNo
Interpretation:
Most of respondent have an idea about ‘Life Value’ protection for his family.
Q.13. Which plan you have taken for your family protection?
S.N. Options Response (%)
1 Pure Protection plan 08
2 ULIP 30
3 Traditional 60
4 None 02
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
5
1
Interpretation:
Most of respondent has Tradition 60%, ULIP 30%, 8% Pure Protection Plan and
other 02% have taken for family protection.
Q.14. How many plan have you taken from insurance company?
S.N. Options Response (%)
1 Child Plan 30
2 Pension Plan 4
3 Health Plan 5
4 Whole Life Insurance Plan 61
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
5
1
Interpretation:
Most of respondent has taken plan which one Whole Life Insurance Plan 61%,
Child Plan 30%, Health Plan 5%, pension Plan 4%.
Q.14. How much Total Sun Assured you have taken from All Insurance
companies?
S.N. Options Response (%)
1 10 Lac 70
2 10-20 Lac 24
3 20-50 Lac 05
4 More than 50 Lac 01
Total 100
10 Lac 10-20 Lac 20-50 Lac More than 50 Lac0
10
20
30
40
50
60
70
70
24
5
1
Interpretation:
According to the survey 10Lac 70%, 10-20 Lac 24%, 20-50 Lac 5% and More
than 50 Lac 1% assured by insurance companies.ss
QUESTIONNAIRE
Q.1. Do you know SBI Life Insurance?
(a) Yes (b) No
Q.2. Have you taken insurance policy?
(a) Yes (b) No
Q.3. Are you happy with insurance plan which you have taken?
(a) Yes (b) No
Q.4. Have you taken any insurance plan from SBI Life?
(a) Yes (b) No
Q.5. How many plan have you taken from SBI Life Insurance?
(a) One (b) Two
(c) More than Two (d) None
Q.6. In which type of plan you would like to invest of your future planning?
(a) Long term unit linked plan (b) Short term unit linked plan
(c) Long term Traditional Plan (d) Short Term Traditional Plan
Q.7. Which company would you prefer for your family protection and saving?
(a) LIC (b) SBI Life
(c) HDFC Life (d) ICICI Prudential
Q.8. Customer Services of SBI Life Insurance is?
(a) Good (b) Better
(c) Best (d) Average
Q.9. Do you think SBI Life Insurance is safe place for your investment?
(a) Yes (b) No
Q.10. How do you plan for saving your tax from your annual income?
(a) Insurance (b) 5 year FD
(c) PPF (d) Loan
Q.11. Do you want to start a career with SBI Life as a Insurance Advisor?
(a) Yes (b) No
If yes then
(i) Full Time (ii) Part Time
Q.12. Do you know what is your ‘Life Value’ for your family protection?
(a) Yes (b) No
Q.13. Which plan you have taken for your family protection?
(a) Pure Protection plan (b) ULIP
(c) Traditional (d) None
Q.14. How many plan have you taken from insurance company?
(a) Child Plan (b) Pension Plan
(c) Health Plan (d) Whole Life Insurance Plan
Q.14. How much Total Sun Assured you have taken from All Insurance
companies?
(a) 10 Lac (b) 10-20 Lac
(c) 20-50 Lac (d) More than 50 Lac