Have You ever come across any savings plan which guarantee particular additions in written format!. Yes, you are at right place. Your family has total peace of mind as you have protection of insurance cover too.
SBI - Smart Guaranteed Savings Plan is traditional non-participating individual plan with guaranteed additions of 6.17% interest of Premium paid. This will mention in Bond which will handed you through post. Pay premiums only for a limited period of 7 years and enjoy the benefits throughout the policy term of 15 years.
Take a look on details below:
Premium
for 7 Years
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Maturity Returns after 15 Years
|
Sum Assured (Life Insurance
Coverage)
|
Pension/Month (Life-Long)
|
| 21000 |
147000 |
242,000 |
2,00,000 |
1613 |
| 30927 |
2,13,708 |
365,100 |
3,00,000 |
2434 |
| 51545 |
3,56,180 |
6,08,500 |
5,00,000 |
4055 |
| 77318 |
5,34,270 |
9,12,750 |
7,00,000 |
6085 |
| Product Snapshot |
| Age at Entry* | Min: 18 years | Max: 50 years |
| Maximum Age at Maturity* | 65 years |
| Policy Term | 15 Years |
| Premium Payment Term | 7 Years |
| Premium Frequency | Yearly |
| Premium Amount (X 1000) | Min | Max (Per life limit) |
| Rs 20,000 | Rs 75,000 |
| Sum Assured | Depends on the premium chosen |
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Benefits: |
| • |
Maturity Benefit (For In-force policies): On completion of Policy Term, Basic Sum Assured Plus accrued Guaranteed Additions, will be paid.
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| • |
Death Benefit (For In-force policies): In the unfortunate event of death of the Life Assured, ‘Sum Assured on death’ along with accrued guaranteed additions will be payable to the beneficiary. Where, Sum Assured on death is Higher of (Basic Sum Assured or 10 times the Annualized Premium or 105% of total premiums paid as on the date of death).
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| • |
Tax Benefits:
Tax deduction under Section 80C 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 at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.
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