SBI Life Child Plans
SBI Life Insurance Company Limited is a Collaboration between State Bank of India (SBI) and BNP Paribas Cardif. SBI owns 74% of the total capital & BNP Paribas Cardif owns the remaining 26%. SBI Life Insurance offers SBI Life Child Plans. SBI Life Insurance company has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores.
SBI Life Child Plans:
SBI Life Insurance host of SBI Life child plans to help the parents to fulfill their kid’s dreams. These Child Plans are two types, they are:
- SBI Life – Smart Champ Insurance.
- SBI Life – Smart Scholar.
So that you can choose the one plan from the above, that suits you and your child’s needs best.
SBI Life – Smart Champ Insurance
SBI Life – Smart Champ Insurance is an Individual Non-linked, Participating life insurance plan, is designed to protect your child’s future educational needs. It is intended to meet your concerns and objectives as a parent – saving for your children’s education and securing their bright future against the uncertainties of life.
|Entry Age:||Life Assured: 21 years to 50 years.|
|Child: 0 years to 13 years.|
|Maturity Maximum Age:
||Life Assured: 70 years.|
|Child: 21 years.|
|Policy Term:||Entry Age of Child’s: 21 minus|
|Basic Sum Assured:||Min: Rs.1,00,000 (× 1,000/-).
Max: Rs. 1 Crore.
|Premium Payment Term for LPPT Policy:||Entry Age of Child’s: 18 minus|
|Premium Frequency:||Single Premium / Yearly / Half Yearly / Quarterly / Monthly.|
|Premium Frequency:||Half-Yearly: 52.0% of annual premium.
Quarterly: 26.5% of annual premium.
Monthly: 8.9% of annual premium.
|Minimum / Maximum Premium in Rs:||
Maximum Premium is Based on the basic sum assured.
- Educational Needs.
- Triple protection.
- Immediate Payment.
- Waiver of due Premium.
- Smart Benefits.
- A lump sum amount immediately.
A) For Single Premium Policy:
B) For LPPT:
C) No future premium installment(s),
- The benefit was payable on survival.
- Tax Benefits.
SBI Life – Smart Scholar
SBI Life Insurance understands your needs and provides you with a flexible and all-encompassing solution: SBI Life – Smart Scholar plan is a non-participating Unit-Linked Insurance Plan (ULIP).
|Entry Age||Child: 0 years to 17 years.|
|Proposer: 18 years to 57 years.|
|Maturity Max age||65 years.|
|Policy Term:||Minimum: 8 years, Maximum: 25 years less child’s age at entry,
On Maturity, the age of the child should be b/w 18 to 25 years.
|PPT||Single Premium (SP).
5 – 25 years (subject to the limits of policy term).
|Premium Amounts (x100):||Minimum:|
|Five years to 7 years||Yearly||50,000|
|Eight years or more||Yearly||24,000|
- Secure your child’s future.
- Dual protection.
- Depending upon the term of the policy, Faith Additions would be paid periodically, for in-force policies.
- Accident Benefit, which involves Accidental Death Benefit and Accidental Total & Permanent Disability (Accidental TPD) benefit, is an integral part of the plan.
- Twin benefits of market linked return and insurance benefit.
- Enhanced investment opportunity through 7 varied fund options.
- Liquidity through partial withdrawal(s).
- Maturity Benefit.
- Death benefit.
- Tax Benefit.