SBI Life – Smart Swadhan Plus

Maturity Benefit (For In-force policies):
On survival of the Life Assured up to maturity, 100% of the total premiums paid during the policy tenure, will be paid in a lump sum.

Death Benefit (For In-force policies):
In the unfortunate event of death of the Life Assured, Sum Assured on Death will be payable to the beneficiary.

Sum Assured on death:
For Single Premium (SP) Policies: Higher of (Basic Sum Assured^# or 1.25 times of Single Premium)

For Limited Premium Payment Term (LPPT) / Regular Premium (RP) Policies: Higher of (Basic Sum Assured^# or 10 times of Annualized Premium^## or 105% of the total premiums received upto the date of death)

There is no waiting period under the product. The Life Cover Benefit would be same (as defined above) throughout the policy term.

Where,

^#Basic Sum Assured is the absolute amount of benefit chosen by the policy holder at the inception of the policy.

^## Annualized Premium is the premium amount payable in a year chosen by the policyholder, excluding the applicable taxes, underwriting extra premiums and loadings for modal premiums, if any.

For more details on risk factors, terms and conditions of SBI Life - Smart Swadhan Plus, read the following documents carefully.