• SBI Life Smart Income Protect Plan

     0.0 / 5.0   by 0 users
    Used this product? Write a review >>

    Fees & Charges

    Promised Interest Rate

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    SBI Life Smart Income Protect Plan is a savings plan that gives you the added advantage of insurance protection. The plan offers life cover as well as a continuous flow of income at various points of your life. It is a participating plan which requires you to pay regular premiums for a period of 5, 10 or 15 years. The plan promises guaranteed regular annual payouts over a fixed period of time.

    SBI Life Smart Income Protect is a great plan for people who are looking to save and get regular returns at regular intervals of time.

    Eligibility Criteria for SBI Life Smart Income Protect Plan

    Listed below are the minimum and maximum entry age for the Plan

    Age at entry

    Minimum Age - 8 years

    Maximum Age - 60 years

    Minimum Age at Maturity

    Maximum Age at Maturity

    18 years

    65 years

    Key features of SBI Life Smart Income Protect Plan

    The table below depicts the key features of the Plan.

    Plan type

    Participating Non-unit-linked traditional, savings plan.

    Plan basis

    Individual

    Premium paying terms

    5 or 10 or 15 years

    Policy term

    15 years

    Premium payment Mode

    Yearly, half-yearly, quaterly

    Grace period

    30 days from the expected date of payment of premium

    Free Look Period

    15 days from the date of availing the policy

    Nomination

    Nomination facility is available under section 39 of the Insurance Act, 1938

    Sum Assured

    Sum assured is a function of the annual premium paid by a policyholder

    Minimum Sum Assured - Rs.1,00,000

    Maximum Sum Assured - No Limit

    Policy coverage

    Death benefits and maturity benefits.

    Death Benefits:

    In case of first death of the policyholder, paid-up sum assured plus reversionary bonus plus terminal bonus will be paid out to the beneficiary.

    Maturity Benefits: This applies to events where the policyholder survives the policy period. The basic sum assured plus vested reversionary bonus and terminal bonus are payable to the policyholder at the time of policy maturity

    Benefits/advantages of SBI Life Smart Income Protect Plan

    Following are some of the most significant advantages of availing the SBI Life Smart Income Protect Plan.

    • Tax benefits: Tax benefits are applicable according to section 80C of the Income Tax Act.
    • Paid up value: This policy acquires a paid-up value or surrender value in case at least premium for last two years is paid. The sum assured is then reduced in the same proportion.
    • Participation in profits: The policy participates in profits arising out of the company’s ‘With profits’ insurance business. Bonuses are paid out to customers on the basis of these profits that are shared with customers. Reversionary bonus is declared by the company on the basis of its assessment of the long term view of the policy. Reversionary bonus becomes a guaranteed benefit once declared by the company.
    • Dual Benefits of savings cum protection: A single life insurance scheme offers both savings as well as insurance option, making this plan a truly great financial product. Regular returns offered at various points of time make this policy a great financial product to own.

    How does the SBI Life Smart Income Protect Plan work

    SBI Life Smart Income Protect Plan works in a way that is beneficial both in terms of savings as well as insurance. Its a part of SBI life insurance plans. Let us take an example to illustrate the same.

    Mr.Kamal availed the SBI Life SMart Income Protect plan for 15 years and a sum assured of Rs.10,00,000. Kamal is a healthy 35 years old professional. He pays an annual premium of Rs.76,270 during the entire policy term of 15 years. He will receive an yearly bonus of 11% of the sum assured i.e. Rs.10,000 for the next 15 years of the policy.

    Riders that can be availed with the SBI Life Smart Income Protect Plan

    Here is a list of riders that can be availed with the SBI Life Smart Income Protect Plan to enhance protection and coverage amount and to extend protection to other unforeseen events like critical illness etc.

    • SBI Life - Accidental Death Benefit
    • SBI Life - Criti Care
    • SBI Life - Accidental Total and Permanent Disability
    • SBI Life - Preferred Term Rider

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

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

    SBI Life Smart Income Protect Plan Reviews

  • Page 1 of 25 1 2 3 4 5
    • SBI Life Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have take life insurance from Sbi life . Am satisfied with the premium amount . This policy covers accidental coverage and critical illness . Every 3 month i had to pay through cheque. They gave the tenure period of 13 years with 55years of policy coverage. Their customer service and response is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 17, 2018
    • SBI Life Life Insurance
      "Better Policy"
      0.5 5.0/5 "Blown Away!"
      Total tenure of the policy is 20 years. It is a cashback policy. Every 5 years i will get 10%. Every 5 years they will give the cashback policy. Once in 5 years, my number will update in their system, i have to give a blank cheque. At the end of th term , I would get bonus points I guess.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2018
    • SBI Life Life Insurance
      "Good insurance for life"
      0.5 4.0/5 "Great!"
      I have the life insurance policy with the SBI life and I am holding it from the last one year of time. Customer service is good one with them and the response is also good one too. Premium amount is nominal one for me with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 07, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      With SBI life I hold the life insurance policy . I have got the Life insurance policy for more than 3 years. This policy has the tenure of 12 years. I get on time reminders to pay the premium . The customer support service and the response is excellent with the SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on May 28, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy from the SBI life. I pay a premium of 1300 per year. The premium gets Auto debited from the account. I never had any issues with the policy and their services. I'll have to wait and see how this policy turns out in future.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2018
    • SBI Life Life Insurance
      "Best Pension Scheme"
      0.5 5.0/5 "Blown Away!"
      I started using this SBI Pension policy 4 years back. Total tenure of the policy is 10 years. I used to pay Rs. 50000 per annum. After 10 years every month i used to receive 5000 from the scheme till end of my life. Death coverage is there. My wife would be be beneficiary.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I"ve a life insuranc epolicy wiht the SBI life. I apy a premium of 1499 per year for a coverage of 10 Lacs coverage. The premium gets auto debited from my account which is pretty much convenient for me. Overall it is a good policy to have and never had any issues with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on May 16, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Anand Life Insurance policy for the past 8 Years. I make Online Payments, being a Govt company the trust factor is there and I'm paying a premium of 20000 per year. I never faced any issues with the policy and its features.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 04, 2018
    • SBI Life Life Insurance
      "Better policy to use"
      0.5 3.0/5 "Satisfactory"
      Got the life insurance policy from the SBI life around 4 years ago. This policy has the tenure of 20 years. The customer support service and the responds is good with the SBI life. The plan benefits and the policy coverage are good with the SBI life insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 30, 2018
    • SBI Life Life Insurance
      "SBI life insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance from SBI life and the premium amount is 75000 for 20 years. Actually i have taken this life insurance since i have taken a home loan from State bank of India. The customer service and response is good with them.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 17, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I am having a life insurance policy with SBI life from last 3-4 months and it is one of the good policy to use. I am not aware of the maturity period of this policy. I pay my premium on monthly basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 06, 2018
    • SBI Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold the SBI life insurance policy for the past 1 year. The customer support service is good with the SBI and they give good response to the customers. This policy has the tenure of 5years. I pay the premium amount of Rs.10,000 in every year once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 04, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with SBI life from last 2 years and it is a short term policy. The tenure of this life insurance policy is 10 years. I pay my premium once in 6 months and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 26, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The SBI Life give good returns to the customers. The coordination is excellent with the SBI life . This life insurance policy has the tenure of 10years, I pay the premium amount of Rs,30,000 per annum. The plan benefits and the coverage is good with this policy,
      Was this review helpful? 0
      , allahabad
      Reviewed on Mar 26, 2018
    • SBI Life Life Insurance
      "Average"
      0.5 1.0/5 "Really Bad"
      I have taken accidental policy with SBI Life since 2004. I have received the documents only for the first year and they are deducting some amount but am not receiving any documents. I have paid 100 or 200 rupees yearly, the premium was very low. I am not sure about other benefits.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 16, 2018
    • SBI Life Life Insurance
      "SBI life , life insurance"
      0.5 3.0/5 "Satisfactory"
      I have taken a life insurance from SBI LIFE. The total premium amount is 25000. I have to pay the premium for 5 years and after the maturity period i will get the sum assured plus the bonus amount. The premium amount will be directly debited from the salary account.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 15, 2018
    • SBI Life Life Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a savings plan and I have to pay a premium up to the age of 60 years. If anything is to happen to me my family will get a sum assured and bonus. Else I would get only the sum assured. Like wise there is a sum assured at the age of 100years too.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 28, 2018
    • SBI Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a term insurance from SBI Life. The best about this company is that the premium is low and economical. The tenure is till the age of 60 years. After which the beneficiary will get the benefits. The sum assured is also good. I am happy with the benefits.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 28, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with SBI Life.The premium amount is 19,000 in a year.The policy coverage is 3-4 lakhs,I have claim experience once they had covered 70 k.The policy is for 15 years.I had closed this policy and I am planning to open a new one.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 26, 2018
    • SBI Life Life Insurance
      "Good policy to use"
      0.5 3.0/5 "Satisfactory"
      I have taken a Money back policy with SBI Life from last 20 years and it is a good policy to hold. The tenure of this life insurance policy is 20 years and i get a cash back after every 4 years. I pay my premium once in a year through net banking and the payment options are convenient for me. I get good coverage and returns in this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 21, 2018
    Common Loader Icon
    Page 1 of 25 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.