Page 28 - Life Insurance Today February 2018

eIncome Shield

from SBI Life Insurance Co. Ltd

Key Features: Monthly Income Outstanding Policy Term; the Monthly

o Flexibility to choose monthly income Payout Term Income would be paid for a minimum
o Four Benefit Option# to choose from. Monthly Income of four years irrespective of time of
death
increases every year at simple interest rate based on
the Benefit Option chosen Premiums and Frequency Minimum Maximum
o Immediate lump Sum payment of 12 times of the Frequency
then applicable Monthly Income applicable at the time Yearly Rs. 4,500 No limit
of claim Monthly Rs. 500 No limit
o Monthly Income for a minimum of four years (48 Premium Paying Same as Policy Term
payouts) irrespective of the year of death Term

o Lower premium for female lives and non smokers
o Tax benefits as per the prevailing norms under the Benefits:
Income Tax Act, 1961
Y Death Benefit:
#Benefit option chosen at inception cannot be changed
Y Monthly Income Benefit: The monthly income
throughout the policy term
payouts will commence on the death of the life
Plan Snapshot assured from the 1st day of the next policy month
and will be payable for the outstanding period of the
Age at Entry Min : 18 years Max : 50 years policy term. For policies where the outstanding policy
Age at Maturity Max : 60 years term is less than 48 months, series of monthly income
Policy Term Min: 10 years Max: 35 years payouts will continue to be paid even after the end
Monthly Income Min: Rs Max: No limit of the policy, till the 48th installment.
25,000 p.m. This benefit is payable as a series of monthly payouts
(Subject to the Board approved and the nominee/ beneficiary would not be allowed
Underwriting Policy) (in multiples to take discounted value of the future payouts as a
of Rs. 1,000) lump sum.
Benefit Option Benefit Option Simple Interest Y Lump Sum Benefit: In addition to the monthly
Name Percentage payouts, Lump Sum benefit amount equal to 12 times
applicable for the then available monthly income will be payable
annual increase in immediately to the nominee/ beneficiary on death,
Monthly Income as per the benefit option chosen.
Benefit
Y Maturity Benefit: No maturity benefit is payable.
Benefit Option A No Increase
Benefit Option B 3% Y Tax Benefits: Eligible for Income Tax benefits/
exemptions as per the applicable income tax laws
Benefit Option C 5%
in India, which are subject to change from time to
Benefit Option D 10%
time. T
28 February 2018 Life Insurance Today

Sashi Publications Pvt Ltd Call 8443808873/ 8232083010