The SBI Life Smart Money Back Gold Plan is a unique offering by SBI Life that combines savings and term insurance benefits. It is a traditional participating money back plan designed to provide regular cash inflows and meet your financial needs at critical times. This plan offers a wide range of policy terms to suit your requirements.
Comprehensive Coverage for Financial Security
In addition to regular survival benefits, the SBI Life Smart Money Back Gold Plan also provides comprehensive death benefits. In the unfortunate event of the policyholder’s or life insured’s death during the policy term, the plan ensures that your loved ones are financially protected.
Invest in Gold with Convenience
If you’re interested in investing in gold but prefer to avoid the hassle of buying, storing, and selling physical gold, SBI Life has a solution for you. The Smart Money Back Gold Plan allows investors to buy gold at a fixed price and have it conveniently delivered to their doorstep. SBI Life takes care of the delivery process and ensures that everything goes smoothly. In the rare event of any issues with the delivery, SBI Life will rectify it promptly, giving you peace of mind.
Suitable for All Types of Investors
Whether you’re a novice or an experienced investor, the SBI Life Smart Money Back Gold Plan offers a great opportunity to venture into gold investing. With its simplified process and reliable delivery service, it provides a convenient and secure way to start building your gold investment portfolio.
Invest in the SBI Life Smart Money Back Gold Plan and enjoy the benefits of regular cash inflows, comprehensive insurance coverage, and hassle-free gold investing.
SBI Life Smart Money Back Gold Plan, A Participating Money Back Plan for 2023
The SBI Life Smart Money Back Gold Plan is a reliable and comprehensive insurance solution that offers regular cash inflows to meet financial needs at different stages of life. It is a traditional participating money back plan designed to provide both protection and periodic income. With this plan, policyholders can enjoy the benefits of life insurance coverage and receive lump sum payouts at regular intervals.
Comprehensive Protection and Regular Cash Inflows
The SBI Life Smart Money Back Gold Plan offers a combination of life insurance coverage and regular cash backs. This ensures financial security for you and your loved ones throughout the policy duration. The plan is designed to provide a steady stream of income, which can be utilized to cover various expenses and meet financial obligations at crucial times in life.
Flexibility and Dependability
As a traditional money back insurance plan, the SBI Life Smart Money Back Gold Plan offers the dependability of regular cash inflows. This allows policyholders to address their financial commitments and manage their expenses effectively. Whether it’s paying bills or meeting important milestones, the plan provides the necessary financial support.
Participating Plan with Life Insurance Benefits
The SBI Life Smart Money Back Gold Plan is a participating insurance plan, which means it offers the opportunity to earn bonuses and participate in the profits of the company. This adds to the potential returns and benefits of the plan. Along with the periodic cash backs, the plan also provides life insurance coverage for the duration of the policy, ensuring comprehensive protection.
Plan Your Financial Future with SBI Life
With the SBI Life Smart Money Back Gold Plan, you can confidently plan your financial future. The plan offers the dual advantages of life insurance coverage and regular cash inflows, providing you with the financial stability and flexibility you need. It is an ideal solution for individuals seeking a reliable and comprehensive insurance plan with the added benefit of periodic income.
Eligibility Criteria for SBI Life Smart Money Back Gold Plan, Check if You Qualify
If you’re considering the Smart Money Back Gold (SMBG) product from SBI Life but unsure about your eligibility, you’ve come to the right place! In this article, we’ll provide you with all the information you need to determine if you meet the conditions of eligibility for SBI Life SMBG products. Plus, we’ll even share a link to our handy eligibility calculator, making it super easy for you to check your eligibility.
| Entry Age | Policy Term Options | Minimum Age | Maximum Age | Maturity Age (Minimum) | Maturity Age (Maximum) | Sum Assured (Minimum) |
|---|---|---|---|---|---|---|
| 12 years | 15 years | 15 years | 55 years | 27 years | 70 years | Rs. 75,000 |
| 15 years | 15 years | 15 years | 55 years | 27 years | 70 years | Rs. 75,000 |
| 20 years | 20 years | 14 years | 50 years | 27 years | 70 years | Rs. 75,000 |
| 25 years | 25 years | 14 years | 45 years | 27 years | 70 years | Rs. 75,000 |
Discover the Outstanding Features of SBI Life Smart Money Back Gold Plan
Are you in search of a reliable and protected means to safeguard your valuable assets? Look no further than Smart Money Back Gold an exceptional solution worth considering. Smart Money Back Gold is an investment product based on precious metals that guarantees investors the utmost security by storing their valuable metals in a highly secure facility.
Moreover, it offers the flexibility of cash redemption if desired. At SBI Life, we prioritize delivering exceptional service and top-notch products, ensuring you receive the finest Smart Money Back Gold experience. Now, let’s delve into the key features of this remarkable investment opportunity. Read on to unveil the benefits!
Traditional Participating Money Back Insurance Plan
Coverage
- Participation Bonus: The policy is eligible for a portion of profits from “participating businesses” in the form of Terminal Bonus and Simple Reversionary Bonus.
- Death Benefit: If the life insured passes away during the policy’s term, the beneficiaries will receive the greater of the following:
- Sum Assured, Vested Simple Reversionary Bonuses, and any Terminal Bonus.
- Annualized premium multiplied by a factor of 10 (if the life assured is less than 45 years) or 7 (if the life assured is 45 years or more), in addition to any Terminal Bonuses and Vested Simple Reversionary Bonuses.
Survival Benefit: During the policy term, Survival Benefit Instalments will be paid out as a predetermined percentage of the Basic Sum Assured at predetermined intervals, according to the following table:
| End of Policy Year | Policy Term Option | 12 years | 15 years | 20 years | 25 years |
|---|---|---|---|---|---|
| 3 | 20% | 15% | – | – | – |
| 4 | – | – | 15% | – | – |
| 5 | – | – | – | 15% | – |
| 6 | 20% | 15% | – | – | – |
| 7 | – | – | – | – | – |
| 8 | – | – | 15% | – | – |
| 9 | 20% | 15% | – | – | – |
| 10 | – | – | – | 15% | – |
| 12 | 50% | 15% | 15% | – | – |
| 15 | Policy matured | 50% | – | 15% | – |
| 16 | – | Policy matured | 15% | – | – |
| 20 | – | – | 50% | 15% | – |
| 25 | – | – | Policy matured | 50% | – |
Maturity Benefit: The life assured will be eligible for the final installment of the Survival Benefit, Vested Simple Reversionary Bonus, and Terminal Bonus (if any), if they survive the policy term.
Advantages of Smart Money Back Gold offered by SBI Life
Smart Money Back Gold is a secure and reliable way to safeguard your valuable assets. This type of gold storage offers several advantages that may appeal to you. In this article, we will explore the key benefits of Smart Money Back Gold and why it could be the ideal choice for your needs. Read on to discover more!
- Tax Benefits: As per the relevant sections of the Income Tax Act of 1961, Smart Money Back Gold provides tax benefits. For detailed information regarding these benefits, it is advisable to consult with a qualified tax professional.
- Riders: Smart Money Back Gold offers the flexibility to add various riders based on individual preferences. The available riders include:
- Accidental Death Benefit Rider
- Accidental Death & Permanent Disability Benefit Rider
- Preferred Term Rider
- Critic Care 13 Non-Linked Rider
These riders provide additional coverage and benefits to enhance your financial security.
By opting for Smart Money Back Gold, you can enjoy the advantages of tax benefits and the flexibility to customize your policy with riders that suit your specific requirements.
Experience the Exciting Benefits of SBI Life Smart Money Back Gold Plan
If you’re seeking a secure financial future, the SBI Life Smart Money Back Gold Plan could be the perfect choice for you. Packed with numerous advantages, this plan offers access to a wide range of insurance products, affordable rates, and round-the-clock customer support. Rest assured that your funds are in safe hands, as SBI Life stands as one of India’s leading insurers with a strong track record of financial stability. If you’re intrigued by this plan and wish to learn more or apply for it, continue reading for comprehensive details
1. Comprehensive Insurance Product Range:
With the Smart Money Back Gold Plan, you gain access to a diverse portfolio of insurance products tailored to meet your specific needs. Enjoy the flexibility of selecting the ideal coverage options that align with your financial goals and requirements.
2. Affordable Premiums:
SBI Life understands the importance of financial feasibility. Hence, the Smart Money Back Gold Plan offers affordable premium rates, allowing you to secure your future without straining your finances. Enjoy the peace of mind that comes with financial protection at a reasonable cost.
3. 24/7 Customer Support:
At SBI Life, customer satisfaction is paramount. With the Smart Money Back Gold Plan, you benefit from round-the-clock customer support. Our dedicated team of professionals is readily available to assist you with any queries, concerns, or assistance you may require, ensuring a seamless and satisfactory experience.
4. Refund Options Tailored to Your Needs:
The Smart Money Back Gold Plan provides unique refund options designed to cater to your specific financial circumstances. Benefit from regular cash inflows that enable you to meet your financial obligations with ease, ensuring stability and peace of mind.
5. Additional Riders for Enhanced Protection:
To enhance the value of the base plan, you have the option to add riders for additional coverage. Explore the following riders offered by SBI Life:
- SBI Life – Accidental Death Benefit Rider: Provides extra coverage in the event of the life insured’s unexpected death due to an accident, with coverage up to Rs. 50 lakhs.
- SBI Life – Accidental Total & Permanent Disability Benefit Rider: Offers coverage in case of total and permanent disability resulting from an accident during the rider policy term.
- SBI Life – Favored Term Rider: Provides additional coverage in the unfortunate event of the insured’s untimely demise during the policy term.
- SBI Life – Criti Care 13 Non-Linked Rider: Offers an additional sum assured if the insured is diagnosed with critical illnesses listed in the SBI life insurance policy document.
SBI Life Smart Money Back Gold Plan Policy Information
- Grace Period: Enjoy a grace period of 15 days for monthly mode and 30 days for other modes to pay the premium installment. Failure to pay within the grace period may result in policy lapse.
- Policy Termination or Surrender Benefit: You have the option to surrender the policy and receive the Surrender Value, which is calculated based on the Dependable Surrender Value or the Extraordinary Surrender Value, whichever is higher.
- Free Look Period: You have a 15-day free look period from the date of receiving the policy documents to review the coverage, terms, and conditions. If dissatisfied and no claims have been made, you can cancel the policy.
Secure your financial future with the remarkable benefits of the SBI Life Smart Money Back Gold Plan. Maximize your potential and enjoy peace of mind with the support of SBI Life, a trusted name in the insurance industry.
Inclusions and Riders of SBI Life Smart Money Back Gold Plan, Comprehensive Coverage at Your Fingertips
Discover the inclusive and rider features that make the SBI Life Smart Money Back Gold Plan a comprehensive solution for your financial security. This plan offers a range of benefits tailored to your needs, along with the option to enhance coverage through additional riders. Read on to explore the key inclusions, riders, and important document requirements.
Inclusions:
- Loan Unavailability: Please note that loans are not available under the Smart Money Back Gold Plan. However, the plan offers a multitude of other valuable features to protect and grow your wealth.
SBI Life Smart Money Back Gold Plan Riders or Additional Features:
- SBI Life – Accidental Death Benefit Rider:
- This rider provides additional coverage in the unfortunate event of the life insured’s unexpected death due to an accident.
- The aggregate coverage amount under this rider is subject to a maximum limit of Rs. 50 lakhs per individual policy.
- SBI Life – Accidental Total and Permanent Disability Benefit Rider:
- With this rider, you can secure coverage against total and permanent disability resulting from an accident during the policy term.
- SBI Life – Preferred Term Rider:
- The Preferred Term Rider offers additional coverage in case of the insured’s untimely demise during the policy term.
- SBI Life – Criti-Care 13 Non-Linked Rider:
- This rider provides an additional sum assured if the insured is diagnosed with critical illnesses listed in the SBI Life insurance policy document.
Exclusions:
- Suicide Clause: In the unfortunate event of suicide within one year of the policy’s inception, only 80% of the premiums paid will be returned to the nominee. If suicide occurs after one year of policy reinstatement, the higher of 80% of premiums paid or the Surrender Value is paid.
SBI Life Smart Money Back Gold Plan Documents Required
To avail the Smart Money Back Gold Plan, the policyholder must complete an ‘Application Form/Proposal Form’ with accurate medical history. Additionally, address verification and other KYC (Know Your Customer) documents are required. Depending on the sum assured and the policyholder’s age, a medical examination may be necessary in certain cases.
Secure your financial future with the SBI Life Smart Money Back Gold Plan, offering comprehensive coverage and the flexibility to enhance protection with riders. Remember to provide the necessary documents to complete your application seamlessly.
(Note: The inclusions, riders, and document requirements mentioned above are subject to change. For the most up-to-date information, kindly refer to the official SBI Life website or contact their customer service.)