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Opt for an
effortless life
cover with
return of
premium.

Saral Swadhan
Insurance Plans Supreme
With Savings UIN: 111N139V01
An Individual, Non- Linked, Non-Participating, Life insurance Savings product with Return of Premium.

Embark on a journey of financial security and your family's protection with SBI Life - Saral Swadhan Supreme and get return
of total premium paid at the end of policy term, upon survival, that will not only safeguard your loved ones, but also creates a
financial safety net that circles back to you. With SBI Life - Saral Swadhan Supreme, now you can navigate the dual paths of
simplicity with an ease of issuance, crafting a shielded future that aligns seamlessly with your priorities.

Key Features

• Protection: Life Insurance cover with ease of issuance

• Convenience: Pay premium regularly or for a limited (7/10/15 years) period
• Flexibility: You can choose policy term from 10 years to 30 years
• Maturity Benefit: Get 100% of Total Premiums Paid# as Maturity benefit.
• Tax Benefits$: As per the prevailing norms under the Income Tax Act, 1961
$
You may be eligible for Income Tax benefits as per the applicable income tax laws in India, which are subject to change from time to
time. You are advised to consult your tax advisor on applicable tax benefits under the policy
This plan is available online.

Benefits
Death Benefit (Applicable only for in-force policies)
In the unfortunate event of death of the Life Assured during the policy term, Sum Assured on Death will be payable to the
beneficiary in lumpsum.
Sum assured on death will be higher of:
a) Basic Sum Assured* or
b) 11 times of Annualised Premium^ or
c) 105% of the Total Premiums received# upto the date of death.
*The basic sum assured is the absolute amount of benefit chosen by the policyholder at the inception of the policy.
^Where, Annualized premium is the premium amount payable in a policy year, chosen by the policyholder excluding the taxes, rider
premiums, underwriting extra premiums and loadings for modal premiums, if any.

Maturity Benefit (Applicable only for in-force policies)

On survival of the Life Assured till the end of policy term, 100% of the total premiums paid# during the policy tenure, shall
be paid in lump sum.
#
Total Premiums paid / received means total of all the premiums received, excluding any extra premium, any rider premiums and taxes.

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 Illustration
Mrs. Deepika, age 40-year-old, working as Professor in a prestigious college, she wants to ensure that her husband
and three-year-old son's future financial requirements are secure in case of any unfortunate eventuality. She has chosen
SBI Life - Saral Swadhan Supreme for Sum Assured of `50 lakhs with cover till age of 65. Now, Deepika is secure & worry-
free for the next 25 years.
Her regular premium for this life cover is `42,603/- p.a*(excluding taxes).
In case of death of Mrs. Deepika during the 6th policy year, sum assured of `50 lakhs will be paid to her Nominee/Legal Heir
subject to all due premium under the policy being paid. By taking a life cover at the right time Deepika's son now need not
sacrifice on his education and can fulfil his dreams.
Death Benefit:
Regular Premium Policy with Policy Term of 25 years

Death of Mrs. Deepika Happened

in the 6th policy year

PY 25
PY 0
Sum Assured of `50,00,000 is paid as
Total Premium Paid = `2,55,618/- Death Benefit to Nominee/Legal Heir

In case Mrs. Deepika survives the policy term of 25 years, she will get the Maturity benefit of 100% of the total premium#
paid, provided the policy is in-force. Maturity amount can help Deepika to enjoy her retirement life by going on vacation or
she can use the maturity amount as corpus for better life.
Maturity Benefit: Maturity benefits at
the end of PY 25 is
`10,65,075/-

PY 0 PY 25

Total Premium paid = `10,65,075/-

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 Who can avail this plan?

Age* at Entry Minimum: 18 years Maximum: 50 Years

Maximum Age* at Maturity 65 years
Basic Sum Assured
Minimum: `25,00,000 Maximum: `50,00,000
(in multiples of `50,000)
Policy Term / Premium Payment Options** Policy Term
Premium Payment Term
LPPT -7 &10 15 to 30 years
LPPT-15 20 to 30 years
RP 10 to 30 years
Premium Frequency Yearly, Half-Yearly and Monthly
Premium Frequency Loading Half-Yearly: 51.00% of annual premium
Monthly: 8.5% of annual premium
Premium Amount Premium Frequency Minimum Maximum
Yearly `7,750 `2,07,500
Half-yearly `3,953 `1,05,825
Monthly `659 `17,638

*Age mentioned in this document is age last birthday on the date of proposal
**LPPT – Limited Premium Payment Term / RP – Regular Premium

Grace Period

A grace period of 30 days from the premium due date will be allowed for payment of yearly and half yearly premiums and 15
days for monthly premiums. The policy will remain in-force during the grace period. If any premium remains unpaid at the
end of the grace period, the policy shall lapse. In case of death of the Life Assured during grace period, the balance of
premiums, if any, till the next Policy anniversary, as on the date of death shall be deducted from the benefits payable under
the Policy.

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 Reduced Paid-up Value

The policy will acquire paid-up benefit only if premiums have been paid for at least two full policy years and thereafter
premiums are not paid within the grace period, the policy shall continue as paid-up policy till maturity.
Death benefit under the paid-up policy: The death benefit is payable as a lump sum to the nominee or legal heir of the Life
Assured. On death of the Life Assured during the policy term, paid-up sum assured on death will be payable.
Paid-up Sum Assured on death = {Sum Assured on Death * (Number of premiums paid / Total number of premiums payable)}
Maturity benefit under the paid-up policy: The maturity benefit is payable as a lump sum to the policy holder. If the Life
Assured survives till the end of the policy term the paid-up sum assured on maturity is payable as a lump sum.
Paid-up Sum Assured on maturity = Maturity Benefit (100% of total premiums originally payable under the policy, excluding
any extra premium, any rider premium and taxes) * (Number of premiums paid / Total number of premiums payable).

Revival

In case your policy has lapsed or is in paid up status, you can start enjoying the full benefits of the policy, by reviving it. Please
send a request to us and ask for revival of your policy.
The policy may be revived within a period of five consecutive years from the date of first unpaid premium and before the
date of maturity. The revival will be considered on receipt of application from the policyholder along with the proof of
continued insurability of Life Assured and on payment of all overdue premiums with interest. The interest will be charged
at a rate declared by the company from time to time. The revival of the policy will be subject to the board approved
underwriting policy of the company.
The interest rate for revival is determined using 10 year government security plus 2%. The 10 year government security
will be considered as on 1st April of each of the Financial Year and it will be compounding on a half-yearly basis. The 10 year
benchmark G-Sec rate as on 1st April 2023 is 7.31%.

Surrender Benefit

The policy acquires Surrender Value only if at least first two full policy years premiums have been paid. The policyholder
may terminate the policy during the policy term by surrendering the policy for a surrender value
The surrender value is higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
The Guaranteed Surrender Value is equal to GSV factors multiplied by the Total premiums paid. The GSV factors will
depend on the policy year during which the surrender request is made and policy term.
Special surrender value will be arrived at by multiplying the paid-up sum assured on maturity with SSV factors. The SSV
factors will depend on the policy year during which the surrender request is made and the policy term. The SSV factors
would be modified as per IRDAI Circular No. IRDAI/ACTL/CIR/PRO/207/10/2022 dated 04th October 2022 and any
subsequent circulars issued by IRDAI in this regard.

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 Nomination

Nomination shall be as per Section 39 of the Insurance Act, 1938 as amended from time to time.

Assignment

Assignment shall be as per Section 38 of the Insurance Act, 1938 as amended from time to time.

Policy Loans

No loan facility is available under this product.

Free look Period

The policy holder has a free look period of 15 days (30 days in case policy is sold through distance mode and electronic
policies) from the date of receipt of the policy document to review the terms and conditions of the policy and where the
policyholder disagrees to any of those terms and conditions, the policyholder has an option to return the policy to the
company for cancellation stating the reasons for his objection, then the policy holder shall be entitled to a refund of
Premium paid subject only to a deduction of a proportionate risk premium for the period of cover and the expenses
incurred on medical examination of the proposer and stamp duty charges.

Applicable Tax

You are liable to pay the Applicable Taxes and/or any other statutory levy/duty/ surcharge, at the rate notified by the State
Government or Central Government/Union Territories of India from time to time, as per the applicable tax laws on basic
premium & rider premium (if any) as per the product feature.

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 Suicide Claim Provision

In case of death due to suicide, within 12 months:

1. From the date of commencement of risk under the policy, the nominee or beneficiary of the policyholder shall be
entitled to atleast 80% of the total premiums paid till the date of death, provided the policy is in force or
2. From the date of revival of the policy, the nominee or beneficiary of the policyholder shall be entitled to an amount
which is higher of 80% of the total premiums paid till the date of death or the surrender value, if any, as available on the
date of death, provided the policy is in force.
After paying the benefit as stated above, the contract will be terminated and hence no further benefit would be payable

Staff Discount

Staff discount is applicable for all employees, retired employees, VRS holders, minor children and spouse of employees of
SBI Life Insurance Co. Ltd, State Bank of India, Associated Banks, RRBs sponsored by State Bank of India and subsidiaries of
State Bank group)

PPT Staff Discount

LPPT – 7 7.00%
LPPT – 10 7.00%
LPPT – 15 6.50%
Regular premium 6.00%

Prohibition of Rebates

Section 41 of the Insurance Act 1938, as amended from time to time, states:
a) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew
or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or
part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or
renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the
published prospectus or tables of the insurer.
b). Any person making default in complying with the provisions of this section shall be liable for a penalty which may
extend to ten lakh rupees.

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 Non-Disclosure

Extract of Section 45 of Insurance Act 1938, as amended from time to time, states:
No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date
of the policy. A policy of life insurance may be called in question at any time within three years from the date of the policy, on
the ground of fraud or on the ground that any statement of or suppression of a fact material to the expectancy of the life of
the insured was incorrectly made in the proposal or other document on the basis of which the policy was issued or revived
or rider issued. The insurer shall have to communicate in writing to the insured or the legal representatives or nominees or
assignees of the insured, the grounds and materials on which such decision is based.
No insurer shall repudiate a life insurance policy on the ground of fraud if the insured can prove that the mis-statement or
suppression of a material fact was true to the best of his knowledge and belief or that there was no deliberate intention to
suppress the fact or that such mis-statement or suppression are within the knowledge of the insurer. In case of fraud, the
onus of disproving lies upon the beneficiaries, in case the policyholder is not alive.
In case of repudiation of the policy on the ground of misstatement or suppression of a material fact, and not on the grounds
of fraud, the premiums collected on the policy till the date of repudiation shall be paid.
Nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no
policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof
that the age of the life insured was incorrectly stated in the proposal.
For complete details of the section and the definition of 'date of policy', please refer Section 45 of the Insurance Act, 1938,
as amended from time to time

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Toll free no.: 1800 267 9090 | SMS ‘LIBERATE’ to 56161 | Email: [email protected] | Web: www.sbilife.co.in
(Customer Service Timing : 24X7)

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/ FRAUDULENT OFFERS

IRDAI is not involved in ac vi es like selling insurance policies, announcing bonus or investment of premiums. Public receiving such
phone calls are requested to lodge a police complaint.

Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license. SBI Life Insurance Company Limited. Registered
and Corporate Office: Natraj, M V Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069. | IRDAI Regn. No.111. |
CIN: L99999MH2000PLC129113
3F/ver1/01/24/BR/ENG