SBI Life – Smart Women Advantage Plan Review & Analysis

SBI life - Smart women Advantage plan offers - Life Cover, Saving / Investment, Covers Female specific critical illness. Check benefits & Premium of Smart Women Advantage Plan which was launched on international women day (08-Mar-2016)

The plan comes with two basic options - Gold Plan and Platinum Plan.

Maturity Benefit on Survival - Basic Sum Assured* + Vested Simple Reversionary Bonuses + Terminal bonus.

Critical illness Benefit (For In-force policies): Is payable based on stage of severity:-

  1. At the Minor Stage of CI, the benefit payable is 25% of CI Sum Assured.
  2. At the Major Stage of CI, the benefit payable is 100% of CI Sum Assured less any previously paid CI claims under the policy.
  3. At the Advanced Stage of CI, the benefit payable is 150% of CI Sum Assured less any previously paid CI claims under the policy.

Where CI sum assured = SAMF x Guaranteed Sum Assured at Maturity.

CI sum assured and absolute amount assured on death are equal.

Important Details of Smart Women Advantage Saving Plan:

Entry Age18 Year
Max Age of Entry50 Years
Basic Sum AssuredMin. 2 Lakh, Max - 10 Lakh
Policy Term10 Year / 15 Year
Premium Pay Term10 Year / 15 Year
Monthly Premium1500 Minimum
Quarterly Premium4000 Minimum
Half Yearly Premium7500 Minimum
Yearly Premium15000 Minimum
Death Benefit10 times of Annual Premium
Tax Benefits80D and 80C

 

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