152689268 SBI Life Insurance

8/10/2019 152689268 SBI Life Insurance

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CONTENTS

INSURANCE Needs of Insurance

Introduction

History of Insurance

LIFE INSURANCE Meaning of Life Insurance

About IRDA

Companies of Life Insurance

SBI LIFE INSURANCE Background of Company

Vision & Mission

!are of BI group & BN" "ARIBA

"roducts

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PREFACE

#!ere is a $ast difference bet%een t!eory and practice #!e practica' training program

is designed %it! t!e purpose of bridging gap bet%een t!eory and practice As suc! I am

fortunate to !a$e an opportunity to undergo my pro(ect and t!us my practica' training

%it! SBI Life Insurance Company Limited.

ummer training %as an e)posure to corporate functiona' en$ironment It %as

opportunity & great p'easure for me to be in Corporate *n$ironment and !a$ing

interaction %it! concerned peop'e

#!is pro(ect is based on a brief study of si) %eeks of training period *fforts !a$e been

made to present a'' aut!entic information as far as possib'e

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ACKNOWLEDGEMENT

+it! a sense of great p'easure & satisfaction I present t!is report entit'ed as SBI Life Insurance Co.

Ltd.cu'mination of my efforts of 'ast si) %eeks Comp'etion of t!is pro(ect, is no doubt, is a product

of in$a'uab'e support & contribution of a number of peop'e

I %is! to e)press my gratitude to t!ose %!o generous'y !e'ped me in comp'eting t!is researc! %ork

%it! t!eir kno%'edge & e)pertise A pro(ect of t!is nature ca''s for inte''ectua' nouris!ment,

professiona' !e'p & encouragement from $arious -uarters

I present my gratitude to pro(ect guide Mr. IN!AR RA" #AT$A ./NI# MANA0*R, BI

LI1* IN/RANC* C2M"AN3 L#D,4HALA+AR5 for gi$ing me t!e opportunity to %ork for BI

Life Insurance Company Ltd for being constant guiding force & a source of I''umination t!roug!out

t!is entire period

My specia' t!anks to a'' emp'oyees of BI Life Insurance Company Ltd, 4!a'a%ar, %!o e)tended

t!eir precious cooperation & for t!e patience t!ey s!o%ed %!i'e entertaining my -ueries

I am immense'y t!ankfu' to a'' agents %!o took out time from t!eir busy sc!edu'e and

ent!usiastica''y responded to my -ueries and pro$ided me %it! a'' t!e $a'uab'e information

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INSURANCE:

Insurance, in 'a% and economics, is a form of risk management primari'y used to !edge against t!e risk

of a contingent 'oss Insurance is defined as t!e e-uitab'e transfer of t!e risk of a 'oss, from one entity to

anot!er, in e)c!ange for a premium, and can be t!oug!t of as a guaranteed sma'' 'oss to pre$ent a 'arge

possib'y de$astating 'oss An insureris a company se''ing t!e insurance6 an insuredor po%icy&o%deris

t!e person or entity buying t!e insurance #!e insurance rateis a factor used to determine t!e amount to

be c!arged for a certain amount of insurance co$erage, ca''ed t!e premium Risk management, t!e

practice of appraising and contro''ing risk, !as e$o'$ed as a discrete fie'd of study and practice

It is one of t!ose t!ings t!at one %ou'd not 'ike to t!ink and ta'k about but if you don7t you may 'ea$e your

fami'y unprotected In simp'e terms 'ife insurance pro$ides money for my fami'y in t!e e$ent t!at I die

It is a financia' resource for my fami'y and 'o$ed ones in case of my deat! A 8Contract9 bet%een me andt!e insurance company 'Insurance is s&arin( t&e ris) *et+een company and indi,idua%-

In insurance t%o type of benefits risk co$er and sa$ing Risks co$er Consists of deat!, accidenta' reco$ery

and !ea't!

Insurance

Risk co$er a$ing

: Deat! ;Accidenta' reco$ery


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+!en age is increase, risk is a'so increase, so premium is increase

need insurance?

Insurance is a basic need of a indi$idua' Like e$ery man eat food forgi$ing so insurance is necessary fore$ery !uman 'ife If a person not !as 'ife insurance and !e is died t!en !is fami'ies face many financia'

troub'es o insurance is necessary need

His!r" !# Insurance= >

In some sense %e can say t!at insurance appears simu'taneous'y %it! t!e appearance of !uman society +e

kno% of t%o types of economies in !uman societies= money economies .%it! markets, money, financia'

instruments and so on5 and non>money or natura' economies .%it!out money, markets, financia' instrumentsand so on5 #!e second type is a more ancient form t!an t!e first In suc! an economy and community, %e

can see insurance in t!e form of peop'e !e'ping eac! ot!er 1or e)amp'e, if a !ouse burns do%n, t!e

members of t!e community !e'p bui'd a ne% one !ou'd t!e same t!ing !appen to one?s neig!bors, t!e

ot!er neig!bors must !e'p 2t!er%ise, neig!bors %i'' not recei$e !e'p in t!e future #!is type of insurance

!as sur$i$ed to t!e present day in some countries %!ere modern money economy %it! its financia'

instruments is not %idespread .for e)amp'e countries in t!e territory of t!e former o$iet /nion5

A*out IRA

Composition of Aut&ority under IRA Act /000

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As per t!e section @ of IRDA Act? :, Insurance Regu'atory and De$e'opment Aut!ority .IRDA, %!ic!

%as constituted by an act of par'iament5 specify t!e composition of Aut!ority

#!e Aut!ority is a ten member team consisting of

.a5 a C!airman6

.b5 fi$e %!o'e>time members6

.c5 four part>time members,

1a%% appointed *y t&e 2o,ernment of India3

uties #o+ers and Functions of IRA

ection :@ of IRDA Act, : 'ays do%n t!e duties, po%ers and functions of IRDA

: ub(ect to t!e pro$isions of t!is Act and any ot!er 'a% for t!e time being in force, t!e Aut!ority s!a'' !a$e t!e

duty to regu'ate, promote and ensure order'y gro%t! of t!e insurance business and re>insurance business

; +it!out pre(udice to t!e genera'ity of t!e pro$isions contained in sub>section .:5, t!e po%ers and functions of

t!e Aut!ority s!a'' inc'ude, >

i Issue to t!e app'icant a certificate of registration, rene%, modify, %it!dra%, suspend or cance' suc!

registration6

b protection of t!e interests of t!e po'icy !o'ders in matters concerning assigning of po'icy, nomination

by po'icy !o'ders, insurab'e interest, sett'ement of insurance c'aim, surrender $a'ue of po'icy and ot!er

terms and conditions of contracts of insurance6

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c specifying re-uisite -ua'ifications, code of conduct and practica' training for intermediary or

insurance intermediaries and agents6

d pecifying t!e code of conduct for sur$eyors and 'oss assessors6

e "romoting efficiency in t!e conduct of insurance business6

"romoting and regu'ating professiona' organiations connected %it! t!e insurance and re>insurance

business6

f Le$ying fees and ot!er c!arges for carrying out t!e purposes of t!is Act6

g Ca''ing for information from, undertaking inspection of, conducting en-uiries and in$estigations

inc'uding audit of t!e insurers, intermediaries, insurance intermediaries and ot!er organiations

connected %it! t!e insurance business6

! Contro' and regu'ation of t!e rates, ad$antages, terms and conditions t!at may be offered by insurers

in respect of genera' insurance business not so contro''ed and regu'ated by t!e #ariff Ad$isory

Committee under section @/ of t!e Insurance Act, :


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k Regu'ating maintenance of margin of so'$ency6

' Ad(udication of disputes bet%een insurers and intermediaries or insurance intermediaries6

m uper$ising t!e functioning of t!e #ariff Ad$isory Committee6

n pecifying t!e percentage of premium income of t!e insurer to finance sc!emes for promoting and

regu'ating professiona' organiations referred to in c'ause .f56

o pecifying t!e percentage of 'ife insurance business and genera' insurance business to be undertaken

by t!e insurer in t!e rura' or socia' sector6 and

p *)ercising suc! ot!er po%ers as may be prescribe

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Mec&anism of Insurance

#!e concept of insurance is t!at peop'e e)posed to t!e same risk come toget!er and agreed to s!are a 'oss

co''ecti$e'y if any of t!eir members suffers it from t!at risk

Insurance companies p'ay t!e ro'e of imp'ementing t!is concept>

a5 #!ey bring toget!er peop'e e)posed to t!e simi'ar risk

b5 #!ey co''ect members7 contribution in ad$ance in t!e s!ape of premiums and create a fund out of

%!ic! t!e 'osses are paid

#!e 'ife insurance co$ers contingencies .deat!, retirement5 and pro$ides re'ief to t!e fami'y in t!e e$ent of

deat! or retirement of t!e bread%inner

Variab'e needs of 'ife insurance can be

a5 "ro$iding financia' security to t!e fami'y

b5 "ro$ision for education, marriage, etc of t!e c!i'dren

c5 "ost>retirement income for se'f and dependents

d5 pecia' needs 'ike Medica' e)penses

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Section 61/83

8pecia' Agent7 means a person %!o, not being a sa'aried emp'oyee of an insurer, in consideration of

commission=

"rocures 'ife insurance business for t!e insurer %!et!er %!o''y or in part by emp'oying or causing to be

emp'oyed insurance agents on be!a'f of t!e insurer, but does not inc'ude a c!ief agent

He on'y procures business t!roug! agents but does not perform any administrati$e function 'ike a c!ief

agent

pecia' agents can do on'y 'ife insurance business and not genera' insurance business

Indi$idua's, companies or firms can become c!ief agents or specia' agents Indi$idua's, Directors or

"artners, as t!e case may be, s!ou'd be free from dis-ua'ifications specified for agents

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Section 96A

#!e certificate s!a'' remain $a'id for a period of :; mont!s but s!a'' be rene%ab'e

"ro$isions stipu'ate t!e number of insurance agents t!at a Ec!ief agent7 may emp'oy direct'y or t!roug!

Especia' agents7 #!ese pro$isions a'so stipu'ate t!e minimum business re-uirements

1or Especia' agents7 a'so t!ere are simi'ar stipu'ations of minimum number of agents to be appointed and

t!e minimum business re-uirements

Some important #ro,isions of t&e Insurance Act /045

: Registration of Insurance companies

; Maintenance and scrutiny of accounts and $a'uation reports


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Appoint additiona' directors

Issue directions

#akeo$er t!e management of t!e insurer t!roug! t!e appointment of an Administrator by t!e

Centra' 0o$ernment

:: "rotection of t!e po'icy !o'der7s interest by pro!ibition of po'icies from being ca''ed into -uestion

after ; years ec @FJ

:; "ro$ision of nomination ec


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In India many 'ife insurance companies are %orking ome of companies are t!is >

S$I LIFE INSURANCE CO%LTD%

LIC OF INDIA

HDFC STANDARD LIFE INSURANCE CO%LTD%

ICICI PRUDENTIAL LIFE INSURANCE CO% LTD

$A&A& ALLIAN' LIFE INSURANCE CO% LTD

SHRI RAM LIFE INSURANCE CO% LTD

RELIANCE LIFE INSURANCE CO% LTD

ING()*ASA LIFE INSURANCE CO% LTD

TATA AIG LIFE INSURANCE CO% LTD

MA+ NEW *ORK LIFE INSURANCE CO% LTD

FUTURE GENERALI LIFE INSURANCE CO% LTD

$HARTI A+A LIFE INSURANCE CO% LTD

A)I)A LIFE INSURANCE CO% LTD

OM KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE CO% LTD

METAIFE INSURANCE CO% LTD

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SAHARA LIFE INSURANCE CO% LTD

$IRLA SUN LIFE INSURANCE CO% LTD

RELIGARE LIFE INSURANCE CO%LTD

ID$I FORTISE LIFE INSURANCE CO% LTD

And so on.

W,a is Li#e Insurance and a Li#e Insurance C!-.an"? Can a Li#e Insurance C!-.an"

He/. Me?

Life Insurance is insurance for me and my fami'y?s peace of mind Life insurance is a po'icy t!at peop'e

buy from a 'ife insurance company, %!ic! can be t!e basis of protection and financia' stabi'ity after one?s

deat! Its function is to !e'p beneficiaries financia''y after t!e o%ner of !e po'icy dies

It can a'so be a form of sa$ings in t!e 'ong run if i purc!ase a p'an, %!ic! offers t!e option of contributing

regu'ar'y Additiona''y, a little known function of life insuranceis t!at it can be tied in %it! a person?s

pension p'an A person can make contributions to a pension t!at is funded by a 'ife insurance company

In addition, you s!ou'd a'so make a 'ist of %!at you fee' needs to be protected in your fami'y?s %ay of 'ife

+it! a 'ife insurance po'icy in p'ace, you can=

"ro$ide security for your fami'y

"rotect your !ome mortgage

#ake care of your estate p'anning needs

Look at ot!er retirement sa$ingsKincome $e!ic'es

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Introduction of LIC:

In :F, Life insurance Company .LIC5 of India %as started /p to ;GGG LIC7 no competitors estab'is!

in t!e market and after ;GGG its many competitors enter in t!e market Its competitors in t!e India=>

S$I LIFE INSURANCE CO%LTD%

LIC OF INDIA

HDFC STANDARD LIFE INSURANCE CO%LTD%

ICICI PRUDENTIAL LIFE INSURANCE CO% LTD

$A&A& ALLIAN' LIFE INSURANCE CO% LTD

SHRI RAM LIFE INSURANCE CO% LTD

RELIANCE LIFE INSURANCE CO% LTD

ING()*ASA LIFE INSURANCE CO% LTD

TATA AIG LIFE INSURANCE CO% LTD

MA+ NEW *ORK LIFE INSURANCE CO% LTD

FUTURE GENERALI LIFE INSURANCE CO% LTD

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$HARTI A+A LIFE INSURANCE CO% LTD

A)I)A LIFE INSURANCE CO% LTD

OM KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE CO% LTD

MET LIFE INSURANCE CO% LTD

SAHARA LIFE INSURANCE CO% LTD

$IRLA SUN LIFE INSURANCE CO% LTD

RELIGARE LIFE INSURANCE CO%LTD

IBI FORTISE LIFE INSURANCE CO. LT

And so on in t!e market


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$ac01r!und !# S$I Li#e :

BI Life Insurance Company Limited is a (oint $enture bet%een t!e tate Bank of India and BN" "aribas

Assurance BI Life Insurance is registered %it! an aut!oried capita' of Rs ;GGG crores and a "aid>up

capita' of Rs :GGG Crores BI o%ns @ of t!e tota' capita' and BN" "aribas Assurance t!e remaining

;

tate Bank of India en(oys t!e 'argest banking franc!ise in India A'ong %it! its Associate Banks, BI

0roup !as t!e unri$a''ed strengt! of o$er :@,FGG branc!es across t!e country, arguab'y t!e 'argest in t!e

%or'd

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BN" "aribas Assurance is t!e 'ife and property & casua'ty insurance unit of BN" "aribas > *uro one7s

'eading Bank BN" "aribas, part of t!e %or'd7s top group of banks by market $a'ue and a *uropean

'eader in g'oba' banking and financia' ser$ices, is one of t!e o'dest foreign banks %it! a presence in Indiadating back to :G BN" "aribas Assurance is t!e fourt! 'argest 'ife insurance company in 1rance, and a

%or'd%ide 'eader in Creditor insurance products offering protection to o$er FG mi''ion c'ients BN"

"aribas Assurance operates in @: countries main'y t!roug! t!e banc assurance and partners!ip mode'

BI Life !as a uni-ue mu'ti>distribution mode' encompassing Banc assurance, Agency and 0roup

Corporate

BI Life e)tensi$e'y 'e$erages t!e BI 0roup as a p'atform for cross>se''ing insurance products a'ong

%it! its numerous banking product packages suc! as !ousing 'oans and persona' 'oans BI7s access to

o$er :GG mi''ion accounts across t!e country pro$ides a $ibrant base for insurance penetration across

e$ery region and economic strata in t!e country ensuring true financia' inc'usion

Agency C!anne', comprising of t!e most producti$e force of more t!an


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SBI Life;s Mission Statement:ce%%ence

S&are of SBI 2ROU# ? BN# #ARIBAS:ed Sum Assured #%an: A''o%s you to bui'd a regu'ar sa$ing p'an t!at gi$es you a secure amount at t!e

end of a fi)ed period p'us a bonus In t!e unfortunate e$ent of deat! before maturity, t!e nominee %ou'd

stand to recei$e t!e um assured and t!e bonus accrued ti'' t!at date

Increasin( Sum Assured #%an < t&e COLA Option: #!e Cost 2f Li$ing Ad(ustment .C2LA5 option is

so ca''ed because it ser$es as an automatic !edge against inf'ation It a''o%s you to increase t!e um

Assured automatica''y by paying an additiona' premium compared to t!e 1i)ed um Assured "'an

Moreo$er, t!e 'ife co$er a'so automatica''y increases during t!e period as added protection to t!e fami'y

Benefits

Maturity Benefit: Depending upon t!e p'an option c!osen=

Fi>ed Sum Assured 1#%an A3 Basic um Assured a'ong %it! Vested Bonus is payab'e

Increasin( Sum Assured 1#%an B3 Increased um Assured Q F pa a'ong %it! Vested Bonus is

payab'e

eat& Benefit:

In t!e unfortunate e$ent of deat! of t!e Life Assured, depending upon t!e p'an option c!osen=

Fi>ed Sum Assured 1#%an A3 #!e um Assured a'ong %it! Vested Bonus is payab'e to your nominee

Increasin( Sum Assured 1#%an B3 Increased um Assured Q F pa a'ong %it! Vested Bonus is

payab'e to your nominee

Ot&er Benefits=

If t!e e)tra co$er .riders5 !a$e been opted for, t!e fo''o%ing additiona' benefits are payab'e=

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Ter- Assurance C!2er 3ene#i

#!e #erm Assurance co$er is payab'e in addition to norma' deat! benefit

Accidena/ Dea, and Accidena/ T!a/ Per-anen Disa3i/i" C!2er $ene#i:

In case deat! due to an accident= #!e rider um Assured is payab'e in addition to norma' Life co$er

In case of #ota' "ermanent Disabi'ity due to an accident=

#%o benefits are payab'e=

Critica% I%%ness co,er:

2n diagnosis of any of t!e critica' i''nesses and you sur$i$e for more t!an Benefits SBI Life=

udars!an en(oys #a) benefit uKs G C and :G .:G D5 of I# Act "remiums paid for Critica' I''ness Benefit

-ua'ify for ta) e)emption under ec GD

$&at is t&e po%icy term

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$&o can *uy t&is product

$&at is t&e minimum ? ma>imum sum assured

Minimum

Jears

Ma>imum Jears

Regu'ar Mode

years


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prepared for t!ese specia' moments +!at you need is easy 'i-uidity at regu'ar inter$a's %it! 'ife insurance

protection to take care of t!ese specia' moments

!ey Features:

#!e p'an !as a number of moneyback options specia''y suited to your needs #!e co$er is a$ai'ab'e at

competiti$e premium rates It !as guaranteed cas! inf'o%s %!ic! can meet your $arious financia'

ob'igations In addition to norma' deat! co$er, t!e p'an a'so pro$ides you @ additiona' co$ers "roduct

type= It is a #raditiona' a$ing "'an %it! added ad$antage of 'ife co$er and guaranteed cas! inf'o% at

regu'ar inter$a's

o+ does it +or)

BI Life Money Back is a sa$ing p'an %it! added ad$antage of 'ife co$er and cas! inf'o% at regu'ar

inter$a's #!is p'an is designed for indi$idua's %!o %ant to p'an for $arious financia' ob'igations at

specified times in 'ife

Term of t&e #%an 2uaranteed Sur,i,a% Benefit

paya*%e

Cumu%ati,e 2uaranteed

Sur,i,a% Benefit

:G 3ears

#!e 'ast < years on t!e term

::G of Basic um Assured

:F 3ears After e$ery < years on t!e term ::F of Basic um Assured

;G 3ears After e$ery @ years on t!e term :;G of Basic um Assured

;F 3ears After e$ery F years on t!e term :;F of Basic um Assured

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Benefits

eat& Benefit:

In t!e unfortunate e$ent of deat! during t!e term of t!e p'an, t!e nominee %i'' recei$e Sum Assured @

Vested Bonuses, .accrued ti'' t!e date of deat!5,N! deduci!ns are -ade #r!- ,e c/ai- a-!un #!r ,e

Sur2i2a/ $ene#is a/read" .aid%

E>c%usions app%ica*%e to t&e Basic Co,er:

uicide %it!in t!e first year

Ot&er Optiona% Benefits:

SBI Life < Term Assurance Rider:

#!e benefit under t!e #erm Assurance Rider is payab'e in addition to deat! benefit

SBI Life < Accidenta% eat& and Accidenta% Tota% #ermanent isa*i%ity Rider

In case of deat! due to an accident, t!e nominee gets t!e additiona' rider um Assured If t!e po'icy!o'der

is in$o'$ed in an accident, resu'ting in tota' permanent disabi'ity, !eKs!e %i'' get um Assured under t!is

rider in :G e-ua' annua' insta''ments6 HeKs!e %i'' e)it from a'' t!e rider co$ers t!ereafter, but continue to

be co$ered for basic co$er on receipt of furt!er premium due, if any

SBI Life < #remium $ai,er Benefit Rider:

/nder t!is rider t!e po'icy !o'der need not pay future premiums for t!e base product, if !eKs!e suffers

from tota' and permanent disabi'ity due to an accident after t!e rider is opted for

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SBI Life < Critica% I%%ness Rider:

2n diagnosis of any of t!e critica' i''nesses .depending on t!e CI co$er you !a$e opted for5 and yousur$i$e for more t!an Benefit:

BI Life Money Back "'an en(oys #a) benefit uKs G C and :G .:G D5 of I# Act

"remiums paid for Critica' I''ness Benefit -ua'ify for ta) e)emption under ec GD

$&at is t&e po%icy termS

$&o can *uy t&is product

Minimum Jears Ma>imum Jears

:G years ;F years

E%i(i*i%ity Criteria Term

Option /:

Term /D Jears

Option 6:

Term /7 Jears

Option 4:

Term 6D Jears

Option 9:

Term 67 Jears

Minimum age at entry

:F :F :F

:F

Ma)imum age at entry G FF FG @F

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$&at is t&e min. ? ma>. sum assured

Riders A,ai%a*%e

BI Life > #erm Assurance Rider

BI Life > Accidenta' Deat! & #"D Rider

BI Life > Critica' I''ness Rider

BI Life > "remium +ai$er Benefit Rider

II. Unit Lin) #%an:

Minimum Ma>imum

Rs FG,GGG .and mu'tip'es of Rs :G,GGG

t!ereafter5

RsF Crore

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Unit #%us


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UNIT #LUS II #LAN

IN TIS #OLICJ TE IN=ESTMENT RIS! IN TE IN=ESTMENT #ORTFOLIO IS BORN BJ TE #OLICJOLER

INTROUCTION:

It may be difficu't to understand a'' your needs but as your preferred 'ife insurance company, BI Life

definite'y understands a'' your financia' & insurance needs SBIBI Life < Unit #%us II"'ans are an

attempt to meet a'' your financia' & insurance needs t!roug! a sing'e non participating product 3ou can

use it t!e %ay you 'ike +!at7s more you get market 'inked returns %!ic! in t!e 'ong term !as a'%ays

pro$ed to gi$e better returns t!an traditiona' sa$ings products

!ey Features:

/nmatc!ed 1'e)ibi'ity to matc! your c!anging re-uirement

C!oice of F in$estment funds= you can c!ange t!e a''ocation percentage %!en you %ant, @ s%itc!es free

per annum34


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C!oice of term = Limited term or %!o'e 'ife

Attracti$e riders a$ai'ab'e

#roduct type:

#!is is a non>participating indi$idua' unit 'inked product

o+ does it +or)

SBI Life < Unit #%us II #%ans: II p%ans dependin( on your premium mode.

Sin(%e #remium Mode= SBI Life < Unit #%us II Sin(%e UIN No: ///LD60=D/3

Re(u%ar #remium Mode=SBI Life < Unit #%us II Re(u%ar UIN No: ///LD65=D/3

Decide 3our In$estment Amount =

FreHuency Minimum #remium Ma>imum #remium

Single Rs @G, GGG No Limit

Regular Rs ;@, GGG pa No Limit

C&oose Jour Life Co,er:

It depends upon t!e tota' amount you !a$e decided to in$est

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Sin(%e #remium Minimum Sum Assured Ma>imum Sum Assured

Term 5 to 9 years:;F of sing'e premium

amount;F of sing'e premium amount

Term /D years

and a*o,e

::G of sing'e premium

amount;F of sing'e premium amount

Re(u%ar

#remiumMinimum Sum Assured Ma>imum Sum Assured

Re(u%ar

#remium

F times annua' premium

amount

Depends on t!e age

$&o%e LifeF times annua' premium

amount

No Limit

.ub(ect to under%riting5

36

Age Band Maximum Sum Assured Multiplicator Factor

0 to 40 50 Times Of Annualized Premium




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Benefits :

Maturity Benefit:

At maturity, t!e 1und Va'ue as on t!at date is paid in fu''

eat& Benefit: In t!e unfortunate e$ent of t!e deat!

Before or t!e age years= 1und Va'ue is payab'e to t!e nominee

After attaining age and before Ft! birt!day, t!e beneficiary %i'' recei$e !ig!er of 1und Va'ue or um

Assured 'ess "artia' +it!dra%a's %it!in t!e 'ast :; ca'endar mont!s

If deat! occurs after age F, t!e beneficiary %i'' recei$e t!e !ig!er of t!e 1und Va'ue or um Assured 'ess

a'' t!e "artia' +it!dra%a's made in t!e 'ast :; ca'endar mont!s before attaining t!e age of FT a''

%it!dra%a's made after attaining t!e age of F %i'' be set off against t!e um Assured e)c'uding partia

%it!dra%a's from #op /p Amount

Ta> Benefits :

#a) benefit as per section GC and :G.:GD5 of Income #a) Act

$&at is t&e po%icy term

2uaranteed Additions On% for SBI Life < Unit #%us II Re u%ar :

A(e at entry Sum Assured

:>G :;F of sing'e premium sub(ect to ma)imum A of Rs :; 'acs

Age at

entry

um Assured

:>G :; 'acs

#erm U Vesting Age > Age at *ntry

Minimum 3ears Ma)imum 3ears

F 3ears F; 3ears

37

LimitedTerm

$&o%e Life Term

Minimum

Jears

F years Life co$er %i'' be a$ai'ab'e ti'' you attain yearsof age

Ma>imumJears @G years


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EHuity OptimiKer Fund:

Assets Min Ma> Ris)

Equity & Equity related instruments G :GG

Hig!

Debt and Money market instruments Ni' @G

152689268 SBI Life Insurance

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Transcript of 152689268 SBI Life Insurance