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.

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\%

Can I surrender SBI Life money back policy?

To surrender your policy, please visit the nearest SBI Life Branch and submit the duly filled Surrender Request Form.

What is SBI 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.

What is vested bonus in money back policy?

It is onetime bonus associated with year of maturity or death provided that policy has completed 15 year at time of death or maturity. In case of maturity or death claim under endowment plans, total vested bonus is sum of simple reversionary bonus + Final Addition Bonus.

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 is life insurance bonus calculated?

Bonus is declared either as a certain amount per Rs 1,000 sum assured or as a percentage of the sum assured. For example, bonus may be Rs 40 for every Rs 1,000 of the sum assured. So, for a policy with the sum assured of Rs 1 lakh, the bonus amount will be Rs 4,000.

How many riders are available in Smart Money Back Gold?

Riders – There are 4 additional riders in this plan: Accidental Death Benefit Rider. Accidental Total Permanent Disability Rider.

What is the minimum yearly premium under SBI Life Smart bachat plan?

Premium Details – SBI Life – Smart Bachat

Premium	Details
Premium Frequency Loading	Half Yearly: 51.00\% of annual premium Quarterly: 26.00\% of annual premium Monthly: 8.50\% of annual premium
Minimum Premium	Yearly: Rs. 5,100 Half Yearly: Rs. 2,600 Quarterly: Rs. 1,350 Monthly: Rs. 450

What is the surrender value of SBI Life policy?

1,40,828 + 13,262 = Rs. This is the Guaranteed Surrender Value. A Special Surrender Value maybe paid by SBI Life – this value can only be known at the time of actual surrender….Surrender Value Factors for the premiums paid.

Surrender Year	Policy Term (years)
3	40\%	30\%
4 – 7	50\%	50\%
8 – 10	55\%	55\%
11 – 15	60\%	60\%

How is bonus on money back policy calculated?

The table below shows the Bonus rates declared for LIC Money Back Plan. You can use this to calculate the Maturity Value of LIC Money Back Plan….Simple Reversionary Bonus.

Year	Policy Term(Years)	Bonus Rate
2016-2017	20	39
25	44
1st September, 2016	Special Diamond Jubilee Bonus – Details as below
2015-2016	20	39

How to add bonus in SBI Life smart money back plan?

So to get to the SBI Life Smart Money Back Plan, you have to add all of the following – Sum Assured + Accrued bonus + Any special bonus + Terminal Bonus. Do let us know in case you need any further information on the bonus rates for this plan or in calculating the returns for your SBI Life Smart Money Back Policy.

Why should you invest in SBI Life – smart money back gold?

Invest in SBI Life – Smart Money Back Gold insurance plan, and avail twin benefits of life cover as well as periodic income to meet your financial requirements at crucial points in life. This policy offers – Security – protect your family’s future Reliability – money back at regular intervals

What is SBI Life – smart income protect?

SBI Life – Smart Income Protect, a traditional participating savings plan, offers dual benefits of life cover and regular cash inflow over a period of 15 years. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

What happens to the policy after 3 years of payment?

However, if 3 years premiums have been paid, then the policy gets converted to Paid Up Value and continues with reduced benefit. You want to surrender the policy – Surrender Benefit is available after payment of at least 3 years’ premiums has been paid. You want a loan against your policy – Loan facility is not available in this plan.