SBII Life Smart Money Back Gold Plan

SBI Life Smart Money Back Gold is a participating Money Back Plan which provides lump sum amount at regular intervals thereby meeting cash requirements at various stages of life. It also provides comprehensive coverage for protection purposes

Read more
Best Investment Plans
  • Save Upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners
Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Key Features

  • It is a participating plan with regular premium payment option
  • Customized Money back solutions under 4 plan options to suit individual needs
  • Total survival benefits paid @ 110% of the Sum Assured

Benefits

  • On maturity, the last instalment of survival benefits along with accrued reversionary bonuses and terminal bonus is paid
  • On death of the policyholder , higher of the basic SA on death including vested bonuses and terminal  bonus, if any, or 105% of premiums paid till death is paid to the nominee
  • SA on death is expressed as 7 or 10 times the annual premium paid depending on the age of the policyholder
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

Options 1 & 2 – 15 years

Options 3 & 4 – 14 years

Options 1 & 2 – 55 years

Option 3 – 50 years

Option 4 – 45 years

Maturity Age (Last Birthday)

27 years

70 years

Policy Term (PT) in years

12 / 15 / 20 / 25 years under options 1,2,3 & 4 respectively

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Premium

Yearly – 4500

Half-yearly – 2400

Quarterly – 1200

Monthly - 400

No limit

Sum Assured

75,000

No limit

Details About Premium

Annual premium in Rupees for a male aged 30 years

Plan Options

Option 1

Option 2

Policy term

12 years

15 years

Premium

53,325

42,815

Sum Assured

500,000

500,000

Survival Benefits

20% at the end of 4th year, 25% at the end of 8th year and 65% on Maturity

15% of SA paid at the end of 3,6,9,12 years and 50% on Maturity

Vested Bonuses @ 4%

131,100

163,875

Vested Bonuses @ 8%

207,000

258,750

Policy Details

  • Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy and receive the Surrender Value. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
  • GSV = GSV Factor * Basic premiums paid excluding survival benefits already paid including the GSV of accrued bonuses
  • SSV = Paid-up Value on maturity * SSV Factor
  • Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

  • Loan is not available under the plan

Additional Features or Riders

  • Rebates for Large Sum Assured ranges of 2 lakhs and above
  • Option of 4 riders for a comprehensive coverage:
  • SBI Life- Accidental Death Benefit Rider
  • SBI Life – Accidental Total and Permanent Disability Benefit Rider
  • SBI Life – Preferred Term Rider
  • SBI Life – Criti-Care 13 Non-Linked Rider

Exclusions

  • In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about health plans.

Investment plans articles

Recent Articles
Popular Articles
Importance of Investment Plan to Build a Secured Future

18 Oct 2021

In today’s times, people are always on a regular lookout for...
Smart Investing: Time To Rebalance Your Investment Portfolio

18 Oct 2021

Investment portfolio rebalancing means reconstructing your...
Where To Invest Your Money For High-Interest Returns?

18 Oct 2021

Every investor in India invests with a notion of availing...
How To Invest Money And Get Rich

18 Oct 2021

Investing is an important part of wealth creation that helps...
Best Investment Plans for Monthly Returns

18 Oct 2021

Every breadwinner of a family wants to secure his/her family's...
Best LIC Policies For Investment in 2021
When it comes to purchasing a life insurance plan, 'LIC policies' are the most popular choice for customers. LIC...
What is Investment and What is Its Purpose?
Different people possess different notions and understanding of “investment”. To start with, first of all...
Post Office Monthly Income Scheme (POMIS)
Are you looking for an investment avenue which is safe and secure, earns substantial returns with a short locking...
SBI Life Insurance Plans in India
SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides...
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily...
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL