SBI Smart Platina Young Achiever

Flexible Payout Options

1. Choose between a lump sum maturity payout or structured installments over a period of up to 7 years.

Transparency

1. Ensures stable and reliable returns throughout the policy term.

Consistent Growth with Guaranteed Additions

1. Guaranteed Additions accumulate at the end of each policy year from inception until maturity.
2. The addition rate is calculated as a percentage of the total premium paid and varies based on the premium payment term and annualized premium amount.

1. Guaranteed Additions continue to accrue in case of the policyholder’s death for the full policy year.
2. For Reduced Paid-up policies, additions are proportionate to the premiums paid up to that point.

Maturity & Death Benefits

Maturity Benefit

If the policy is active and the life assured survives the term, the sum assured on maturity, along with accrued Guaranteed Additions, is paid as a lump sum.

Death Benefit

In case of the policyholder’s death during the policy term (provided the policy is in force), the beneficiary receives the higher of:

1. Sum Assured on Death + Accrued Guaranteed Additions
2. 105% of Total Premiums Paid* until the date of death

Upon the payment of the death benefit, the policy terminates.

Waiver of Premium in Case of Death or ATPD of Proposer

1. If the proposer passes away or suffers from Accidental Total Permanent Disability (ATPD) during the premium payment term, future premiums are waived. The policy remains active.
2. ATPD claims require continuous disability for at least 180 days, deemed permanent by a medical practitioner appointed by the insurer.
3. In cases of physical severance, the waiting period of 180 days is waived.

Eligibility Criteria for SBI smart platina young achiever

Proposer’s Age at Entry:

1. Minimum: 18 years
2. Maximum: 65 years

Child’s Age at Entry:

1. Minimum: 30 days (0 year)
2. Maximum: 15 years

Child’s Age at Maturity:

1. Minimum: 18 years
2. Maximum: 35 years

Policy Term:

1. 15 to 25 years (subject to child’s age at maturity)

Premium Payment Term Options:

1. 7 years or 10 years

Premium Payment Frequency:

1. Yearly / Half-Yearly / Monthly
2. Half-Yearly premium: 51% of the Annualized Premium
3. Monthly premium: 8.50% of the Annualized Premium

This plan ensures a structured financial roadmap for your child’s future, offering security, flexibility, and guaranteed growth.