The SBI Life – Smart Women Advantage is a participating Individual Traditional Endowment Plan. It provides three-fold coverage that includes life cover, savings and critical illness benefit. It gives you added protection features which will help with your financial planning while it provides you security. Women can choose between two plans: The Gold and the Platinum plan. This SBI Life policy also focuses on providing women with financial security in case of complications during pregnancy and childbirth.

Eligibility Conditions for SBI Life - Smart Women Advantage

Key Features of SBI Life - Smart Women Advantage

Listed below the key features of SBI Life - Smart Women Advantage:

Benefits/Advantages of SBI Life - Smart Women Advantage

The SBI Life - Smart Women Advantage is packed with a number of benefits that will prove to be advantageous in your time of need. The SBI life saving plan provides you with the following key benefits:

• Comprehensive cover – The plan provides a three-fold cover of life insurance, savings and critical illness rider.
• Additional Cover – With the APC and CA (Additional Pregnancy Complication and Congenital Anomalies) cover, policyholders are covered for complications arising out of pregnancy and birth related anomalies. 20% of Basic Sum Assured is payable.
• Choice of plans – There are two plans offered under this scheme.

  Plan Name	Coverage
  Gold Plan	Life cover + Savings + Female specific Critical Illnesses
  Platinum Plan	Life cover + Savings + Female specific Critical Illnesses + Other Critical Illnesses

• Premium waiver – In the event of a major stage CI, the payment of premium will be waived for the rest of the policy term. The policy, however, will continue along with its benefits till the end of its term.
• Flexibility on Cover – Choose the level of CI or Death cover as 1, 2 or 3 times the basic sum assured.
• Rebates – For customers who opt for a higher level of the basic sum assured, discounts are offered on premium rates.
• Tax benefits – Premiums paid towards the policy are eligible for tax benefits.
• Maturity Benefits - On survival of the Life Assured up to maturity, the following will be paid: Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any.
• Death Benefit – In case of the policyholder’s demise, the sum assured upon death will be paid, along with Vested Simple Reversionary Bonuses. If any Terminal bonus is applicable, this will also be payable, or 105% of the premiums paid, whichever is higher. The beneficiary will receive the sum.

• Critical Illness Benefit – This will be payable based on the severity of the stage of illness.

  Stage of Illness	Benefit Payable
  Minor Stage of Critical Illness	25% of CI Sum Assured
  Major Stage of Critical Illness	100% of CI Sum Assured less any previously paid CI claims under the policy
  Advanced Stage CI Critical Illness	150% of CI Sum Assured less any previously paid CI claims under the policy

• Surrender Option – You can surrender your policy after payment of at least 3 years’ full premium.
• Participating Profits – The policy is eligible to participate in the profits of the company.

How the SBI Life - Smart Women Advantage Works

The SBI Life – Smart Women Advantage scheme was designed to suit the specific needs of women. This plan provides special attention to women-specific critical illnesses. You can purchase this policy and be insured against a list of women –specific illness and also increase your cover to be financially protected in case of pregnancy complications and birth-related anomalies. This policy is loaded with benefits that include death benefit, maturity benefits, premium waiver benefit, and participating profits. The scheme helps women with life insurance, savings and critical illness cover, all in one policy. Premiums can be paid according to the convenience of the policyholder in monthly, quarterly, half-yearly and yearly instalments. Benefits will be paid out upon maturity or diagnosis of any CI. The nominated beneficiary will receive the sum assured in case of the policyholder’s unfortunate demise.

Premium Payment

The SBI Life - Smart Women Advantage plan helps you pay your premiums according to your financial convenience, either monthly, quarterly, half-yearly or yearly. Listed below are the different amounts you need to pay:

Riders

There is an optional rider to cover Additional Pregnancy Complication and Congenital Anomalies (APC & CA). You will be financially protected in case of complications arising out of your pregnancy and for childbirth related anomalies.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017