SBI Life launches an Exclusive Super HNI Focused Plan – SBI Life Smart Privilege

 SBI Life launches an Exclusive Super HNI Focused Plan – SBI Life Smart Privilege
A unit linked, non- participating plan with flexibility of choice of premium payment term and 8 different funds for investment

SBI Life Insurance, the largest and one of the most trusted private life insurer in the country, today announced the launch of an exclusive Super HNI focused life insurance plan called ‘SBI Life - Smart Privilege’. 

The product is a unit linked, non-participating plan that provides both Life Insurance as well as gives the opportunity to increase wealth through investments in eight select funds (in any combination of customers choice), with the flexibility of fund switching and premium redirections, unlimited number of times, throughout the term of the plan.

Commenting on the launch, Mr Arijit Basu, MD and CEO, SBI Life, says, “Based on our analysis of the needs of HNIs, we understand that creating wealth is inherent for them and that they like to have control over their finances. Keeping this in mind, the SBI Life – Smart Privilege is designed to give them the litheness to make unlimited switches and premium re-directions between eight diverse funds with loyalty additions to boost fund value. With this especially crafted plan for HNIs, we aim to further add value to their investments

The plan comes with a host of features, starting with the flexibility of premium payment; one can opt to pay throughout the policy term, for a limited period or single premium payment and continue to enjoy life cover and other benefits throughout the chosen policy term. 

The minimum entry age is 8 years for regular/limited premium policies and 13 years for single premium policies. The maximum age is 55 years. The policy term is 10 to 30 years for Regular / Limited premium policies and 5 to 30 years for Single premium policies. The premium paying frequency options are single, yearly, half yearly, quarterly and monthly.

The benefits include, Life Cover for which Higher of the Fund Value or Sum Assured is payable; with a minimum of 105% of total premiums paid till the date of intimation of death claim. 

For Maturity, on survival of the life assured up to maturity, the Fund value shall be paid in a lump sum. Alternatively, the maturity benefit can be availed in instalments under ‘Settlement’ option. The plan also provides tax benefits as per the prevailing tax laws.


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