SBI Life Smart Scholar To Give Your Child’s Dream Wings

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This SBI Life Smart Scholar scheme is a non-participating Unit Linked Insurance Child Plan which is intended to offer for your child’s future even if you are not around your child. This SBI Life Smart Scholar plan for a child offers insurance coverage and also returns linked to its capital market, as a result, a substantial quantity is collected for your child’s future.

NOTE:

Secure your child’s future educatinal cost as well as their life through the right insurance plan.

What Does The SBI Life Smart Scholar offer For Children?

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Here we have provided the list of SBI Life Smart Scholars down below. Check out the offers that you will get if you purchase the SBI Life Smart Scholar:

LIQUIDITY

This plan has a partial withdrawals facility from policy’s 6th year

SECURITY

This plan is designed to provide your child dreams even when you won’t be there for them

FLEXIBILITY

This plan switch between its funds so that it can match the varying requirements of the child

RELIABILITY

This plan’s premiums are being flapped in case of some eventuality

NOTE:

It is always necessary to check out the offerings before purchasing any insurance plan.

These Subsequent 7 Funds Are Obtainable For Your Investment:

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Top 300 Fund
Equity Fund
Equity Optimizer Fund
Balanced Fund
Growth Fund
Bond Fund

Key Features Of The SBI Life Smart Scholar:

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This SBI life insurance child plan is a unit-linked child plan with the premium payment alternatives in a limited mode

There is also a feature of the Loyalty Additions that further upsurge your Fund Value and thus are funded even if the insured person is dead

This SBI smart child plan is primarily for the profit of your child where you are the insured person

Benefits Of The SBI Life Smart Scholar Plan

Some benefits of the SBI Life Smart Scholar plan are provided below. Check the benefits of the SBI plan for child below:

Numerous Fund Alternatives:

Individuals can select between the 9 different fund alternatives, confirming the fact that they get the right one for themselves which suits perfectly for their necessities.

Partial Withdrawals:

In this SBI life smart scholar plan partial withdrawals are allowed, confirming that the monetary disasters are taken entirely good care of.

Maturity Benefit:

In such SBI child plans, a maturity profit is being paid at the time its policy term is accomplished.

Multiple Settlement Alternatives:

Persons have an alternative to select between the different settlement preferences.

Tax Reimbursements:

One is permitted to tax paybacks under Section 10(10) D and 80C of the Indian Income Tax Act, 1961.

Loyalty Add-ons:

The fund gathers added loyalty entities after being in the force for a specific period of time.

Death Benefit:

In the disastrous event of the death of the life insured, death assistance will be funded to its nominee. If both the life insured and the child die, a death value will be funded to its nominee. If only the child dies, then the fund value will be funded.

NOTE:

There are various benefits provided by the SBI Life Smart Scholar plan. Check out the benefits provided before purchasing the plan.

Maturity Fund Value:

The life insured will be able to get its total fund value on the maturity of the plan.

The Premium Payments For The SBI Life Smart Scholar Plan:

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There are 3 different types of the plan under this SBI Smart Scholar Scheme. Let’s know in details about thes3e 3 different types of the plan under the scheme

Single Payment:

In this plan, The premium payment’s frequency is single i.e. yearly. The minimum amount for the premium is INR 75000/- only and there is no maximum limit for the premium.

Plan With The PPT Between 5 Years To 7 Years:

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In this plan the frequency of the premium payment is many. You can pay your premiums annually or half-yearly or quarterly or monthly as per your choice.

The minimum amount for the premium is INR 50000/- for annually, INR 25000/- for half-yearly, INR 12500/- for quarterly, and INR 4500/- for a monthly premium. There is no maximum premium limitation in the plan.

Plan With The PPT More Than 7 Years:

In this plan the frequency of the premium payment is many. You can pay your premiums annually or half-yearly or quarterly or monthly as per your choice.

The minimum amount for the premium is INR 24000/- for annually, INR 16000/- for half-yearly, INR 10000/- for quarterly, and INR 4000/- for a monthly premium. There is no maximum premium limitation in the plan.

NOTE:

Secure your child’s future with SBI Life Smart Scholar plan and give them wings.

FAQ Regarding The SBI Life Smart Scholar:

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Q. What is the Entry Age of the SBI Life Smart Scholar plan?

A. The minimum entry age of the SBI Life Smart Scholar plan is 18 years and the maximum entry age is 57 years for Parents.

For Child, there is no minimum age limit and the maximum age limit of the child is 17 years.

Q. What is the Maturity Age of the SBI Life Smart Scholar plan?

A. For Parents, there is no minimum age limit for maturity age and the maximum maturity age is 65 years

However, for a child, the minimum maturity age is 18 years and the maximum age is 25 years.

Q. What Is the Policy Term Of the SBI Life Smart Scholar plan?

A. The policy Term i.e. PT of SBI Life Smart Scholar plan is a minimum of 8 years to a maximum of 25 years.

Q. What is the Premium Paying Term (PPT) of the SBI Life Smart Scholar plan in years?

A. The Premium Paying Term (PPT) of the SBI Life Smart Scholar plan is either single or 5 to 25 years.

Q. What is the Premium Paying Frequency option in the SBI Life Smart Scholar plan?

A. There is a total of 4 premium paying frequency options available. These are monthly, quarterly, half-yearly & yearly

Q. What is the amount of single pay yearly premium in the SBI Life Smart Scholar plan?

A. For SBI Life Smart Scholar single pay yearly premium you will have to pay minimum INR 75,000 if the PPT is 8 years.

Q. What is the amount of yearly premium in the SBI Life Smart Scholar plan?

A. For PPT 8 years the yearly premium is INR 24,000 and for PPT 5 to 7 years the amount is INR 50,000.

Q. What is the amount of Half-yearly premium in the SBI Life Smart Scholar plan?

A. For PPT 8 years the half-yearly premium is INR 16,000 and for PPT 5 to 7 years the amount is INR 25,000.

Q. What is the amount of quarterly premium in the SBI Life Smart Scholar plan?

A. For PPT 8 years the quarterly premium is INR 10,000 and for PPT 5 to 7 years the amount is INR 12,000.

Q. What is the amount of monthly premium in the SBI Life Smart Scholar plan?

A. For PPT 8 years the monthly premium is INR 4000 and for PPT 5 to 7 years the amount is INR 4500.

Q. What is the sum assured for the SBI Life Smart Scholar plan?

A. The sum assured for the SBI Life Smart Scholar plan is a minimum of 5 lakhs to a maximum of 10 lakhs depending on the premium you paid.

Q. What Is The Grace Period Of the SBI Life Smart Scholar Plan?

A. The grace period is 30 days.

Q. Can I surrender for the SBI Life Smart Scholar?

A. YES… you can but after completing 5 years of the policy. If you surrender before 5 years of completion of the insurance plan then SBI Life Smart Scholar will credit net fund value for discontinuation charge.

Q. Is there any Surrender benefit is SBI Life Smart Scholar?

A. If you surrender before completion of 5 years then the company will charge you for discontinuation. However, if you surrender after completion of 5 years then you will get your entire fund value as soon as you surrender.

Q. What is the Documents required for the SBI Life Smart Scholar Plan?

A. Policyholder’s address proof, medical history, and other KYC documents are needed for SBI Life Smart Scholar Plan.

Q. Is any Medical check-up required for the SBI Life Smart Scholar Plan?

A. Not always. However, depending on the age of the policyholder and the sum assured you may have to go through medical check-up.

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