SBI Life – Smart Scholar Plus (UIN-111L144V01) is an Individual, Unit-Linked, Non-Participating, Life Insurance Savings Product
Give your child the independence to choose their dreams with SBI Life – Smart Scholar Plus that fulfills your child’s dreams proactively by creating a corpus for a secured financial future through market linked returns
Key Benefits:
• Create corpus for your child with market-linked investment through 14 fund options
• Dual benefit of lumpsum payout & premium waiver^ for policy continuance on insured event #
• Boost your funds through loyalty additions*
• On death of the life assured a life insurance cover equal to Sum Assured shall be payable throughout the term of the policy.
The policy shall continue and company shall pay the future premiums on behalf of life assured provided the child is alive.
Plan Information
| Insurance Company | SBI Life |
|---|---|
| Plan Category | Child Plans |
| UIN | 111L144V01 |
| Minimum Entry Age | 0 |
| Death Benefit | In the event of the unfortunate death of the life assured, a lump sum benefit equal to the higher of the Sum Assured or 105% of the Total Premiums Paid& up to the date of death will be payable. The company continues to pay your future premium(s) on your behalf (inbuilt Premium Payor Waiver Benefit) and the accumulated Fund Value will be paid at maturity. |
| Maturity Benefit | On completion of the Policy Term, the Fund Value will be paid as a lump sum. |
| Tax Benefits | You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. For further details, click here. Please consult your tax advisor for details. |
Terms, benefits, eligibility and tax treatment are governed by the insurer’s latest policy wording and applicable law. Please review the official brochure before making a decision. Tax treatment may change and should be independently verified.