SBI Life Insurance - Retire Smart Plus - Balanced Pension Fund

Flexibility of choosing from 7 diverse fund options as per your risk appetite.
Corpus creation for retirement through maturity benefit.
While your policy is inforce, your Fund Value is boosted through,
o Loyalty Additions payable every year starting from end of 15 Policy year.
o Terminal Addition^ of 1.5% of the Fund Value.
Access to funds through Partial Withdrawals in case of financial emergency, after completion of lock-in period
Flexibilities under the plan
o Option to pay Single premium, Regular premium or for a limited period
o Unlimited free switches are allowed during the policy term.
o Free Premium redirection available from 2 policy year onwards

10 to 35 (both inclusive)
Regular Premium
10 to 35 (both inclusive

Limited Premium
Minimum - Yearly - 40,000, Half Yearly - 20,000, Monthly - 5,000
Maximum - No Limit, as per board approved underwriting policy
Single Premium
Minimum - 1,00,000
Maximum - No Limit, as per board approved underwriting policy

In case of an unfortunate event of death of the Life Assured while the policy is in force,
Higher of A or B is payable, where A & B are as given below:
& A Fund Value as on the date of intimation of death claim Plus Terminal Addition .
B 105% of the total premiums received up to the date of death less Applicable Partial Withdrawal, if any.
* Applicable Partial Withdrawal is equal to partial withdrawals, if any in the last 2 years immediately preceding the death of the life assured.
Terminal Addition is 1.5% of the Fund Value as on the date of intimation of death claim.
If policy is discontinued during the first 5 policy years:
Death benefit is equal to the Fund Value of the discontinued policy Pension fund at the time of intimation of claim to the company:
If you had surrendered the policy and death occurs after that or
If you had opted to revive the policy within three years but has not revived the policy and death occurs or
If you had not exercised the option of revival offered on discontinuance of policies and death occurs
If policy is discontinued after completion of 5th policy year:
Death benefit is equal to the Fund Value as on the date of intimation of the claim to the company
If you have opted to revive the policy within three years but have not revived the policy and death occurs during the 3 years revival period or
if you had not exercised the options of revival or complete withdrawal offered on discontinuance of policies and death occurs

On survival of the life assured till the end of policy term, provided the policy is in force, you will receive the: Fund Value as on & the date of maturity/vesting Plus Terminal Addition
Terminal Addition is 1.5% of maturity/vesting Fund Value
Ways to utilize the corpus:
You will have the following options on Maturity/Vesting:
i. To utilize the entire proceeds to purchase immediate annuity or deferred annuity from us at the then prevailing annuity rate. However, you will be given an option to purchase immediate annuity or deferred annuity from any other insurer at the then prevailing annuity rate to the extent of percentage, stipulated by Authority (IRDAI), currently 50% of the entire proceeds of the policy net of commutation. OR
ii. To commute up to 60% and utilize the balance amount to purchase immediate annuity or deferred annuity from us at the then prevailing annuity rate. However, you shall be given an option to purchase immediate annuity or deferred annuity from any other insurer at the then prevailing annuity rate to the extent of percentage, stipulated by Authority
(IRDAI), currently 50% of the entire proceeds of the policy net of commutation. OR
iii. To extend the accumulation period or deferment period within the same policy with the same terms and conditions as the original policy provided you are below an age of 60 years.