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(An individual, non-linked, participating, life insurance savings product)

(UIN: 111N096V03)

SBI Life - Smart Money Back Gold is an individual, non-linked, participating, life insurance savings product with added advantage of life cover and cash inflow at regular intervals, meeting your various financial obligations at crucial junctures by its wide range of policy terms. Regular payments of Survival benefits are made at different durations during the policy term. In the unfortunate event of death at any time within the Policy Term, your nominee or beneficiary would receive the Sum Assured on death plus Simple Reversionary Bonus if declared & Terminal Bonus (if any), irrespective of Survival Benefits already paid

key attractions

Choice of Three Money Back Options

15 Year Policy Term, 20 Year Policy Term, and 25 Year Policy Term

Survival Benefit

Total Survival Benefit of 110% of Sum Assured

Eligibility

Age^^ at Entry

Minimum Age

14 years

Maximum Age

 

Regular Premium : 45 Years

Limited Premium & Single Premium : 55 Years

Age^^at Maturity

Max : 70 Years

Basic Sum Assured

(INR) ( in multiples of 1,000)

Min :  200,000                                   Max : No limit^

Premium Payment Option

Single Premium/ Limited Premium/ Regular Premium

Premium Frequency

Single / Annually / Half –Yearly / Quarterly / Monthly

Premium for Regular Premium & Limited Premium Payment Term (INR)

Mode

Minimum

Maximum

Yearly

9,500

Based on Sum Assured

Half Yearly

5,000

Based on Sum Assured

Quarterly

2,500

Based on Sum Assured

Monthly

800

Based on Sum Assured

Premium for Single Premium (INR)

Single Premium

1,25,000

Based on Sum Assured

^The maximum sum assured would be subject to board approved underwriting policy. The maximum premium would be based on the sum assured offered.

^^All the references to age are age as on last birthday.

Benefits

Survival Benefits or Money back Payouts available under different options:

The survival benefit installments expressed as a fixed percentage of basic sum assured payable at the end of specified durations during the policy term (expect the last survival benefit at the end of the policy term), as explained below which helps you to meet your key milestones at crucial junctures in life.

Given below are the various Policy term and frequency options of accompanying Money back payouts:

Survival Benefit Installments or Money back Payouts (% of Basic Sum Assured)

Plan Options

Option 1

Option 2

Option 3

End of Policy year / Policy term

15

20

25

3

15%

 

 

4

 

15%

5

 

15%

6

15%

 

8

 

15%

9

15%

 

10

 

15%

12

15%

15%

 

15

50%

 

15%

16

 

15%

 

20

50%

15%

25

 

50%

Total (% of Basic Sum Assured)

110%

110%

110%

All Accrued Simple Reversionary Bonus if declared will be paid along with the last Money back payout at maturity, which will be the total amount of bonus accrued under the policy during the entire term. The bonus will apply to the basic sum assured. Terminal Bonus (if any) will also be paid along with the last Money back payout.

 

On Death:

  • For Regular & Limited Premium Payment Term: In the unfortunate event of death during the policy term, provided the policy is in-force:

Higher of A or B is paid to the nominee, where:
A = Sum Assured on death + Vested Simple Reversionary Bonuses, if declared + Terminal bonus, if any.

Where Sum assured on death is higher of Basic Sum Assured or 11 times the annualized premium

B = Minimum death benefit which is equal to 105% of the total premiums received up to the date of death.

  • Annualized Premium is the premium payable in a policy year as chosen by the policy holder, excluding the Applicable Taxes, underwriting extra premium and loadings for modal premiums, if any.

  • The total premiums paid means total of all premiums received, excluding any extra premium, and taxes. Basic Sum assured is the absolute amount of benefit, which is guaranteed to become payable on maturity and as chosen by the policyholder at the inception of the policy.

  • Single Premium: In the unfortunate event of death during the policy term, provided the policy is in-force: Sum Assured on death + Vested Simple Reversionary Bonuses, if declared + Terminal bonus, if any. Where Sum assured on death is higher of Basic Sum Assured or 1.25 times the single premium

  • On maturity: On survival till the end of the policy term, Final survival benefit installment + Vested simple reversionary bonus, if declared + terminal bonus, if any is paid to the policyholder

 

Tax Benefits:

You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details. Please consult your tax advisor for details.

Payment Options

  • Premium Payment Term:

    • For Regular Premium : Same as Policy Term

    • For Single Premium : Onetime payment at policy inception

    • For Limited Premium: 8/10/12 Years for Options 1 / Options 2 / Options 3 respectively.

  • Policy Term: 15/20/25 years for Options 1 / Options 2 / Options 3 respectively.

  • Payment Mode: Single/Yearly/Half-yearly/Quarterly/Monthly

Disclaimer

Yes Bank Limited is a Composite Corporate Insurance Agent of Max Life Insurance Company Limited (IRDAI Regd. No. 104), Reliance General Insurance Company Limited (IRDAI Regd. No. 103), HDFC Life Insurance Company Limited (IRDAI Registration No. 101), SBI Life Insurance Company Limited (IRDAI Registration. No. 111), SBI General Insurance Company Limited (IRDAI Registration Number 144) and ICICI Lombard General Insurance Company Limited, (IRDAI Registration No. 115). Yes Bank Corporate Agent license no. CA0125 issued by Insurance Regulatory & Development Authority of India (IRDAI), and does not underwrite the risk or acts as an insurer. Yes Bank Limited Registered Office: YES BANK LIMITED, YES BANK House, Off Western Express Highway, Santacruz East, Mumbai – 400055.CIN L65190MH2003PLC143249

The Life Insurance Products are offered and underwritten by SBI Life Insurance Company Limited having IRDAI Registration No. 111, CIN: L99999MH2000PLC129113 having its registered office at Natraj, M V Road & Western Express Highway Junction, Andheri (East), Mumbai-400069

SBI Life-Smart Money Back Gold, an individual, non-linked, participating, life insurance savings product are obligations only of SBI Life Insurance Company Limited. They are not Bank deposits or obligations of or guaranteed by YES Bank Limited. All claims under the policy will be solely decided upon by SBI Life Insurance Company Limited. YES Bank holds no warranty and do not make any representation about the insurance, the quality of claims processing and shall not be responsible for claims, recovery of claims, or for processing of or clearing of claims, in any manner whatsoever.

The purchase of any insurance product by YES Bank Customers is purely voluntary and is not linked to availment of any other facility from YES Bank. For more details on risk factors, benefits, waiting period, exclusions, coverage, terms and conditions please read the sales brochure carefully before concluding the sale.

Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license.

Tax benefits on the Insurance Product are subject to the conditions and limits mentioned in the Income Tax Act 1961 as amended from time to time. Customer is advised to take an independent view from tax consultant.

All guaranteed benefits are payable only when all premiums are paid when due.

For any queries with respect to Insurance Policies bought through YES Bank, kindly contact us at our Toll Free No:18001200, Email ID _yestouch@yesbank.in_, Website: www.yesbank.in. SBI Life Toll Free Number: 1800 267 9090 (Between 9.00 am to 9.00 pm) I Website: www.sbilife.co.in I SMS: 'CELEBRATE' to 56161 Email: info@sbilife.co.in

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS

IRDAI is not involved 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 YES Bank copyright & disclaimer and Privacy Policy, please visit our website www.yesbank.in

1N.YES.ver.02-06-21 WEB ENG

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  • SBI Life Smart Money Back Gold - Premium Table
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  • SBI Life Smart Money Back Gold - Brochure
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  • SBI Life Smart Money Back Gold - Standard Disclaimer