SBI Life EWealth Insurance Plan

• Option to invest in any 3 funds
• Automatic asset allocation to manage investments
• Choice of Growth and Balanced plan options
• Market linked returns & insurance protection
• Reasonable premiums to attain wealth creation
• No premium allocation charges
• Liquidity through partial withdrawals
• 3-step easy online procedure to buy plan
• Avail tax benefits

This policy offers following 3 investment funds, you can invest with that suit your investment objectives.

• Equity Fund
• Bond Fund
• Money Market Fund

You have the option to choose Growth Plan and Balanced Plan to invest your money among the fund options available. Automatic Asset Allocation (AAA) helps invest the premiums under the plan option chosen. In AAA feature, the allocations in debt/money market instruments increase and in equity reduces, as the policy term progresses.

Death Benefit

In the event of death of the life insured during the policy term, the higher of sum assured or 105% of the total premiums paid or Fund Value is payable, provided the policy is in-force.

Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Fund Value is payable. The maturity benefit can be taken as a lump sum or can be availed in installments through settlement option.

Settlement Option

Settlement Option is available at maturity and it provides you the flexibility to receive the maturity benefits in annually, semi annually, quarterly, & monthly installments within a period of 5 years from the date of maturity.

Partial Withdrawal

Partial Withdrawal is allowed from 6^th policy year onwards. The minimum partial withdrawal amount is Rs 5,000 and further withdrawals should be in multiples of Rs 1,000. The maximum partial withdrawal allowed is 15% of the fund value. The minimum fund value required post withdrawal is 50% of the total premiums paid.

Bonus

The plan is not eligible for the bonuses as it is a non-participating life insurance plan.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the fund value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. The proceeds after addition of interest subject to a minimum of 4% per annum is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately.

No rider is available under this plan.

Premium Allocation Charges (PAC): No premium allocation charge is levied under this plan.

Policy Administration Charge: Monthly policy administration charge is levied by the redemption of units under the policy. The charge of Rs 45 per month is deducted throughout the policy term, subject to a maximum of Rs 200 per month upon prior approval from IRDAI.

Mortality Charges: Mortality charge is based on the age of the life insured and Sum at Risk (SAR) at the time of deduction of charge. It is deducted on each Policy Month Anniversary from the fund value by cancellation of units.

Fund Management Charges (FMC): Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a for Equity Fund, 1% p.a for Bond Fund, 0.25% p.a for Money Market Fund, 50% p.a for Discontinued Policy Fund.

Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.

Partial Withdrawal: 1 free partial withdrawal is allowed during a policy year. Rs 100 is levied for each partial withdrawal, in excess of free withdrawals allowed. A maximum of 2 partial withdrawals can be done in a policy year and not more than 5 such withdrawals are allowed during the entire policy term, in case of policy term 10 years. A maximum of 10 partial withdrawals is allowed during the entire policy term, in case of policy term more than 10 years.

Medical Expenses on Revival: Cost of medical expenses incurred is borne by the policyholder, subject to a maximum of Rs 3,000.

Tax benefits can be availed under section 80C & 10(10D) under the Income Tax Act, subject to change in tax laws.

Mr. Raman aged 35 years, is leading a happy life with his wife Ananya and a daughter Sanya. He wants to build a corpus amount, so his family can achieve their dreams such as Sanya’s education, her marriage, etc. He also wants to ensure financial security of the family, in case of a mishap. He thus opts for SBI Life - eWealth Insurance with the policy term of 10 years, annual premium payment of Rs 50,000 and sum assured is Rs 5,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Fund Value is payable. This maturity benefit helps meet long term financial goals.

Scenario B- Death Benefit: In the event of his death during the policy term, the higher of Sum Assured or 105% of the total premiums paid or Fund Value is payable to the nominee. The death benefit payable provides financial security for the family.