Investment Objective
SBI Life 'Smart Performer', is a unique Unit Linked, Non Participating insurance product that offers you the twin benefits of 'Higher than the Highest' of the daily NAV Guarantee and the prospect of market upside. It also allows you to protect your gains through Automatic Rebalancing facility and offers you a choice of Single and Limited Premium Payment options.
You can invest in any one of the options mentioned on the next page:
Option 1: Secure Plan
The entire premium (net of allocation charges) paid by you, is invested in the 'Daily Protect Fund' and you will get a return based on the performance of this Fund and the underlying guarantee.
Option 2: Secure N Grow Plan
Out of the entire premium (net of allocation charges) you pay, 80% would be allocated to the Daily Protect Fund and the remaining 20% would be allocated to the Index Fund, to give you the chance for higher participation in equity. This plan comes with the unique feature of Automatic Rebalancing.
You can invest in any one of the options mentioned on the next page:
Option 1: Secure Plan
The entire premium (net of allocation charges) paid by you, is invested in the 'Daily Protect Fund' and you will get a return based on the performance of this Fund and the underlying guarantee.
Option 2: Secure N Grow Plan
Out of the entire premium (net of allocation charges) you pay, 80% would be allocated to the Daily Protect Fund and the remaining 20% would be allocated to the Index Fund, to give you the chance for higher participation in equity. This plan comes with the unique feature of Automatic Rebalancing.
Explore The Plan
FEATURES
1.Guarantee at maturity based on '5% Higher than Highest Guaranteed NAV' during the first seven years or prevailing NAV at Maturity, whichever is higher, subject to conditions
2.Enjoy the best of both worlds - Guarantee only or Guarantee and Market Upside through our unique Plan offerings - 'Secure Plan' and 'Secure N Grow Plan' respectively
3.'Automatic Rebalancing' to Lock-in your gains
4.Convenience through single premium (SP) or 5 year Premium Paying Term (PPT)
5.Life Insurance coverage with minimum Sum Assured of 10 times or 7 times of your Annualised Premium (AP), based on your age.
6.Liquidity through Partial Withdrawal(s) Option to customize the product with Accidental Death Benefit
7.Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions
2.Enjoy the best of both worlds - Guarantee only or Guarantee and Market Upside through our unique Plan offerings - 'Secure Plan' and 'Secure N Grow Plan' respectively
3.'Automatic Rebalancing' to Lock-in your gains
4.Convenience through single premium (SP) or 5 year Premium Paying Term (PPT)
5.Life Insurance coverage with minimum Sum Assured of 10 times or 7 times of your Annualised Premium (AP), based on your age.
6.Liquidity through Partial Withdrawal(s) Option to customize the product with Accidental Death Benefit
7.Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions
BENEFITS
Maturity Benefit:
On completion of Policy Term, Maturity Value will be paid.
Maturity value for the Daily Protect Fund will be calculated based on NAV which is higher of:
Prevailing NAV as on date of Maturity OR
Higher than Highest Guaranteed NAV: There will be an increment of 5% to the Highest NAV achieved during the first seven years under the 'Daily Protect Fund'.
Death Benefit:
Higher of the Fund Value or Sum Assured is payable; subject to a minimum of 105% of the total premiums paid## at the time of death. The death benefit is payable only for inforce policies.
Accidental Death Benefit Option:
Accidental Death Benefit: Provides additional death benefit if the death occurs as a result of an accident.
On completion of Policy Term, Maturity Value will be paid.
Maturity value for the Daily Protect Fund will be calculated based on NAV which is higher of:
Prevailing NAV as on date of Maturity OR
Higher than Highest Guaranteed NAV: There will be an increment of 5% to the Highest NAV achieved during the first seven years under the 'Daily Protect Fund'.
Death Benefit:
Higher of the Fund Value or Sum Assured is payable; subject to a minimum of 105% of the total premiums paid## at the time of death. The death benefit is payable only for inforce policies.
Accidental Death Benefit Option:
Accidental Death Benefit: Provides additional death benefit if the death occurs as a result of an accident.
ENTRY AGE DETAILS
Age at Entry
Min: 9 years
Max: 65years
Min: 9 years
Max: 65years
INVESTMENT DETAILS OF THE PLAN
The objective of this Fund is to provide NAV protection using the CPPI methodology. The Asset Allocation is dynamically rebalanced to give a guarantee of 105% of the highest NAV in the built-up phase.
Equity and Equity Related Instruments ; 0% - 100%
Debt and Money Market Instruments ; 0% -100%
Risk Profile - Low to Medium Risk Profile
Equity and Equity Related Instruments ; 0% - 100%
Debt and Money Market Instruments ; 0% -100%
Risk Profile - Low to Medium Risk Profile
POLICY ADMINISTRATION CHARGES
The policy administration charge will be recovered by canceling units on a monthly basis proportionately from each Investment Fund
For LPPT: A flat charge of Rs. 60 per month will apply throughout the term of the policy.
For Single Premium: A flat charge of Rs. 50 per month will apply throughout the term of the policy.
For LPPT: A flat charge of Rs. 60 per month will apply throughout the term of the policy.
For Single Premium: A flat charge of Rs. 50 per month will apply throughout the term of the policy.
FUND MANAGEMENT CHARGES
A certain fixed percentage of the relevant Fund before calculating the NAV on a daily basis will be charged as per the rates below:
| Fund Name | Fund Management Charges |
| Daily Protect Fund | 1.00% p.a. |
| Index Fund | 1.25% p.a. |
MORTALITY CHARGES
Mortality charges are deducted on the 1 business day of each policy month from Fund Value by way of cancellation of units. Mortality charges will be based on your age and Sum at Risk at the time of charge deduction.
PREMIUM ALLOCATION CHARGES
This charge shall be deducted from Premiums as they are paid, before allocation of units each time a Premium is received, and shall be as follows:
For LPPT:
For LPPT:
| Policy Year | Premium Allocation Charge (% of premium) |
| Year 1 | 8.50% |
| Year 2 | 6.00% |
| Year 3 | 6.00% |
| Year 4 | 6.00% |
| Year 5 | 6.00% |
GENERAL EXCLUSIONS
Suicide Exclusion:
If the Life Assured, whether sane or insane, commits suicide, within one year from the date of issue of the policy, the policy shall be void. In such event, the Fund Value, shall be payable and all benefits under the policy will cease.
Exclusion for Accident Benefit:
Death arising from or due to the consequences of or occurring during the events as specified below is not covered: Infection: Death or Disability caused or contributed to by any infection, except infection caused by an external visible wound accidentally sustained.
Drug Abuse: Life Assured under the influence of alcohol or solvent abuse or use of drugs except under the direction of a registered medical practitioner.
Self-inflicted injury: Intentional Self- inflicted injury.
Criminal acts: Life Assured involvement in criminal and/or unlawful acts.
War and Civil Commotion: War, invasion, hostilities, (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion.
Nuclear Contamination: The radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature.
Aviation: Life Assured participation in any flying activity, other than as a passenger in a commercially licensed aircraft.
Hazardous sports and pastimes: Taking part or practicing for any hazardous hobby, pursuit or any race not previously declared and accepted by the Company.
Physical Infirmity: Body or mental infirmity or any disease.
If the Life Assured, whether sane or insane, commits suicide, within one year from the date of issue of the policy, the policy shall be void. In such event, the Fund Value, shall be payable and all benefits under the policy will cease.
Exclusion for Accident Benefit:
Death arising from or due to the consequences of or occurring during the events as specified below is not covered: Infection: Death or Disability caused or contributed to by any infection, except infection caused by an external visible wound accidentally sustained.
Drug Abuse: Life Assured under the influence of alcohol or solvent abuse or use of drugs except under the direction of a registered medical practitioner.
Self-inflicted injury: Intentional Self- inflicted injury.
Criminal acts: Life Assured involvement in criminal and/or unlawful acts.
War and Civil Commotion: War, invasion, hostilities, (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion.
Nuclear Contamination: The radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature.
Aviation: Life Assured participation in any flying activity, other than as a passenger in a commercially licensed aircraft.
Hazardous sports and pastimes: Taking part or practicing for any hazardous hobby, pursuit or any race not previously declared and accepted by the Company.
Physical Infirmity: Body or mental infirmity or any disease.
SURRENDER DETAILS
You can surrender your policy at any time during the Policy Term.
If surrender is requested during the first 5 Policy Years:-
Then a lock-in condition applies. Your Fund Value after deduction of applicable discontinuance charge (if any), will be transferred to the 'Discontinued Policy Fund'. You will earn a minimum interest rate of 3.5% p.a. on this Fund. No further charges are deducted from the st Fund. Life cover and Accidental Death Benefit cover (if any) will cease to apply. The Fund Value will be payable on the 1 working day of th the 6 Policy Year.
If the surrender is requested any time after completion of 5 Policy Year then the Fund Value will be paid immediately.
If surrender is requested during the first 5 Policy Years:-
Then a lock-in condition applies. Your Fund Value after deduction of applicable discontinuance charge (if any), will be transferred to the 'Discontinued Policy Fund'. You will earn a minimum interest rate of 3.5% p.a. on this Fund. No further charges are deducted from the st Fund. Life cover and Accidental Death Benefit cover (if any) will cease to apply. The Fund Value will be payable on the 1 working day of th the 6 Policy Year.
If the surrender is requested any time after completion of 5 Policy Year then the Fund Value will be paid immediately.
MISCELLANEOUS CHARGES
For issuance of additional/ duplicate copy of Yearly Fund Statement an amount of Rs. 100 per statement will be charged. Service Tax, Surcharge and Education Cess are payable on Fund Management Charge, Mortality Charge and Accidental Death Benefit Charge, at the applicable rates.
MATURITY AGE DETAILS
Age at Maturity - Max: 75 years
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