How many plan options are available under Smart Money Back Gold?
How many plan options are available under Smart Money Back Gold?
Details About Premium
| Plan Options | Option 1 | Option 2 |
|---|---|---|
| Sum Assured | 500,000 | 500,000 |
| Survival Benefits | 20% at the end of 4th year, 25% at the end of 8th year and 65% on Maturity | 15% of SA paid at the end of 3,6,9,12 years and 50% on Maturity |
| Vested Bonuses @ 4% | 131,100 | 163,875 |
| Vested Bonuses @ 8% | 207,000 | 258,750 |
What is money back option?
A money back plan provides the full sum assured on maturity. This is irrespective of the survival benefits and the amount paid under the same. This works just like any standard life insurance policy where the insured party gets a final assured sum at the end of the policy term.
What is the benefit of SBI money back policy?
Benefits of SBI Life Smart Money Back Gold Plan Customized money back options tailored to customers’ requirements. Regular cash inflows for meeting financial obligations. Regular survival benefit payout till maturity of plan. Large sum assured will attract rebates.
How can I surrender my SBI money back policy?
Your request for cancellation of the policy under the free look option must reach your nearest SBI Life Office within a period of 15 days or 30 days, as the case may be, as mentioned above.
What is vested bonus in SBI Life?
The vested bonus rates are percentage of Sum Assured. Terminal bonus is one time bonus which is payable at maturity….Bonus rates for SBI Life Smart Money Back Plan.
| Year | Policy Term (in years) | Bonus Rate |
|---|---|---|
| 2019 | 20 (Plan 3) | 3.25% |
| 25 (Plan 4) | 3.25% | |
| 2018 | 12 (Plan 1) | 3.25% |
| 15 (Plan 2) | 3.25% |
How can I know my SBI insurance policy?
To know the SBI Life Insurance Policy status through SMS, the policyholder requires sending the SMS to POLSTATUS << Space>> (Policy Number) to 56161 or 9250001848.
What is Smart money Back Gold?
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.
Why money back policy is best?
Money Back Life Insurance Benefits: Provides tax benefits. Less risky than other investments offering similar returns like mutual funds. Enables long-term savings and regular income. Ensures that amounts are disbursed regularly.
What is Smart Money Back Gold?
What is the maturity amount of money back policy?
20% of the sum assured is paid out to the policyholder at the completion of the 5th, 10th, and 15th policy years. The remaining sum will be paid as the maturity benefit. If the policyholder, however, succumbs to an untimely death, their nominee will receive a death benefit payout from the insurer.
How do I exit ULIP?
Surrendering during the lock-in period – ULIPs have a lock-in period of 5 years but investors can surrender the fund before completion of the lock-in tenure. The risk-cover will cease once you submit the request for surrender, however, the surrender value incurred is paid only at the end of the 5-year term.
How is SBI Retire Smart Plan?
SBI Life Retire Smart Plan is a non-participating Unit Linked Insurance Plan. Thus, it is a Non-Traditional Pension Plan without Bonus facility but it guarantees 101% of all premiums paid on vesting thus protecting your funds from market volatility.
What is smart money back plan in SBI Life?
SBI Life Smart Money Back Plan is a Participating Money Back Plan. It is a Traditional Plan with Bonus facility. How it works – In this plan, premium needs to be paid throughout the policy tenure. This being a Money Back Plan, has a specified % of Sum Assured being paid back at pre-defined intervals.
What is a money back plan?
This being a Money Back Plan, has a specified % of Sum Assured being paid back at pre-defined intervals. There are 4 variants to choose from whereby the amount of Sum Assured is defined and also the timelines.
Why money back plan from Mitesh?
Mitesh used this money back plan to help him enroll his daughter in school and go for that international holiday, and is assured that his family’s financial future is secure. Enter your details in the form field below and see how you can secure a brighter future. Let’s finalize the policy duration you are comfortable with…
When will the simple reversionary bonus be paid?
All Accrued Simple Reversionary Bonus, if declared will be paid along with the last Moneyback 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.
