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    HISTORY OF LICThe Oriental Life Insurance Company, the first corporate entity in Indiaoffering life insurance coverage, was established in Calcutta in 1818 by BipinBernard Dasgupta and others. Europeans in India were its primary targetmarket, and it charged Indians heftier premiums. The Bombay Mutual LifeAssurance Society, formed in 1870, was the first native insurance provider.Other insurance companies established in the pre-independence era included

    Bharat Insurance Company (1896)

    United India (1906)

    National Indian (1906)

    National Insurance (1906)

    Co-operative Assurance (1906)

    Hindustan Co-operatives (1907)

    Indian Mercantile

    General Assurance

    Swadeshi Life (later Bombay Life)

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    The first 150 years were marked mostly by turbulent economic conditions. Itwitnessed, India's First War of Independence , adverse effects of the World War I and World War II on the economy of India , and in between them the period of world wide economic crises triggered by the Great depression . The first half of the20th century also saw a heightened struggle for India's independence . Theaggregate effect of these events led to a high rate of bankruptcies and liquidation of life insurance companies in India. This had adversely affected the faith of thegeneral public in the utility of obtaining life cover.

    The Life Insurance Act and the Provident Fund Act were passed in 1912, providingthe first regulatory mechanisms in the Life Insurance industry. The IndianInsurance Companies Act of 1928 authorized the government to obtain statisticalinformation from companies operating in both life and non-life insurance areas.The subsequent Insurance Act of 1938 brought stricter state control over anindustry that had seen several financially unsound ventures fail. A bill was alsointroduced in the Legislative Assembly in 1944 to nationalize the insuranceindustry.

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    INTRODUCTION

    Life Insurance Corporation (LIC) of India is the only public sector Life InsuranceCompany in India. The company was formed in September 1956.

    LIC was formed in 1956 with the merger of more than 200 insurance companiesand provident societies. Since then they have been among the most trusted brandsin India providing insurance solutions to even the remotest corners of Indiathrough their huge network of agents and distributors. It was only in 2001 that the

    private sector was allowed into the insurance sector in India. LIC has maintainedits dominant leadership status even with the presence of 22 other life insurancecompanies.

    LIC is the largest life insurance company in India with a huge presence in bothurban and rural markets. Its distribution is unmatched and has a strong agent force

    which reaches out to every small town in India ensuring that their products are being offered to one and all in the country. The insurance products of LIC are oftenthe most simple and consumer friendly and it is displayed by the enormousresponse it gets to the launch of any new product. LIC has an insurance product for almost any need - from protection, savings and investments, micro-insurance plansto special plans for women and even for handicapped individuals. The insuranceagents of LIC have been the backbone of the company for long and their agentnetwork keeps getting bigger by the day.

    TS Vijayan is the Chairman of Life Insurance Corporation of India

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    PLANS OF LIC

    As individual s it i s inherent to differ. Each individual' s in s urance need s and requirement s are different fromthat of the other s . LIC' s In s urance Plan s are policie s that talk to you individually and give you the mo s ts uitable option s that can fit your requirement.

    Jeevan Arogya

    Endowment Plus

    Jeevan Anurag Komal Jeevan CDA Endowment Vesting At 21 Marriage Endowment Or

    Educational Annuity PlanCDA Endowment Vesting At 18Jeevan Kishore Jeevan Chhaya

    Child Career Plan Child Future Plan

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    Jeevan Aadhar Jeevan Vishwas

    The Endowment Assurance Policy The Endowment Assurance Policy-Limited Payment Jeevan Mitra(Double Cover Endowment Plan) Jeevan Mitra(Triple Cover Endowment Plan) Jeevan Anand New Janaraksha Plan Jeevan Amrit

    Jeevan Shree-I Jeevan Pramukh

    The Money Back Policy-20 Years The Money Back Policy-25 Years Jeevan Surabhi-15 Years Jeevan Surabhi-20 Years Jeevan Surabhi-25 Years Bima Bachat

    Jeevan Bharati - I

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    The Whole Life Policy The Whole Life Policy- Limited Payment The Whole Life Policy- Single Premium Jeevan Anand Jeevan Tarang

    Two Year Temporary Assurance Policy The Convertible Term Assurance Policy Anmol Jeevan-I Amulya Jeevan-I

    Jeevan Saathi

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    Jeevan Anurag

    Benefits LICs Jeevan ANURAG is a with profits plan specifically designed to take care of theeducational needs of children. The plan can be taken by a parent on his or her own life. Benefitsunder the plan are payable at prespecified durations irrespective of whether the Life Assuredsurvives to the end of the policy term or dies during the term of the policy. In addition, this planalso provides for an immediate payment of Basic Sum Assured amount on death of the LifeAssured during the term of the policy.

    Assured Benefit Payment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years

    before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonusesdeclared from time to time on full Sum Assured for the full term and the Terminal bonus, if anyshall be payable. For example, if term of the policy is 20 years, 20% of the Sum assured will be

    payable at the end of the 17th, 18th, 19th year and 40% of the Sum Assured along with thereversionary bonuses and the terminal bonus, if any, at the end of the 20th year.

    Death Benefit Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.

    Kom al Jeevan

    Benefit s In the ever demanding and competitive environment , it is essential to provide the best educationto your children which can be very expensive. Fortunately, the sooner you start investing for their education , the more flexibility you'll have and will enable your children to achieve

    proficiency in their career endeavors. This would make the children proud of their parent's effortand call them The Best Parents. LIC now introduces a new plan to take care of these needs AKomal Jeevan Plan with payment of premium ceasing on policy anniversary immediately after the child attains 18 years of age. The plan, besides offering risk cover , also offers payment of Sum Assured in installments at age 18,20,22,24 and Guaranteed and Loyalty additions, if any, atthe age 26.

    P o licy As A G ift: The close relations such as grandparents, elder brothers or sisters, uncles both from paternal or maternal side can gift 'single premium policy' for love and affection under this plan. in suchcases also, the policies will be proposed by father, mother or legal guardian.

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    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. Peopleshould give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result

    Jeevan K ish o re

    F eature s: High bonus from day one. Child becomes owner of the policy automatically at the age of 18years. Risk commences after 2 years of policy or on completion of 7 years of age, whichever islater. No medical examination of the child if age is less than 10 years.

    Suitable For:Parents of children who wants to provide a lump sum amount at a particular age of the child. Theamount can be used for any particular need of the child like marriage or start in life.

    Sp ecial F eatures :This policy is issued with profit, but bonus for waiting period will vest immediately on thePolicy anniversary from which risk is covered or at the end of 5 years from commencement of

    the policy whichever is later, provided the policy is in force. No medical examination will benecessary if the age of the child is less than 10 years last birthday. Else medical examination isnecessary.

    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. People

    should give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

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    Jeevan C hhaya

    F eatures Ideal for parents having less than a year old child. Makes provision for education/ marriage of the child. Extra benefit of waiver of premium in case of death of the policy holder.

    Suitable F o r: Couples having a less than one year child (not an adopted child) can avail themselves of this

    plan, in order to ensure that an adequate financial provision is made for the higher education of the child. The child should not have completed one year of age on the date of Registration of the

    proposal. Either father or mother or each one of them individually can take policies under this plan under Non-medical Scheme. This plan is also allowed to others subject to medical

    examination.

    Sp ecial F eatures: This policy is given under non-medical scheme up to sum assured of Rs.1 lakh, if the prospect ishaving a child of less than one year of age as on date of registering the proposal. This non-medical is exclusive for other policies.

    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. Peopleshould give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

    M o ney Back w ith P r o fit

    F eatures Unlike ordinary endowment insurance plans where the survival benefits are payable only at theend of the endowment period, this scheme provides for periodic payments of partial survival

    benefits as follows during the term of the policy, of course so long as the policy holder is alive.In the case of a 20-year Money-Back Policy (Table 75), 20% of the sum assured becomes

    payable each after 5, 10, 15 years, and the balance of 40% plus the accrued bonus become payable at the 20th year.

    For a Money-Back Policy of 25 years (Table 93), 15% of the sum assured becomes payable eachafter 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the25th year. An important feature of this type of policies is that in the event of death at any timewithin the policy term, the death claim comprises full sum assured without deducting any of the

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    survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated

    on the full sum assured. If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. Peopleshould give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

    Mo

    ney Back w ith P ro

    fit F eatures Unlike ordinary endowment insurance plans where the survival benefits are payable only at theend of the endowment period, this scheme provides for periodic payments of partial survival

    benefits as follows during the term of the policy, of course so long as the policy holder is alive.In the case of a 20-year Money-Back Policy (Table 75), 20% of the sum assured becomes

    payable each after 5, 10, 15 years, and the balance of 40% plus the accrued bonus become payable at the 20th year.

    For a Money-Back Policy of 25 years (Table 93), 15% of the sum assured becomes payable each

    after 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the25th year. An important feature of this type of policies is that in the event of death at any timewithin the policy term, the death claim comprises full sum assured without deducting any of thesurvival benefit amounts, which have already been paid. Similarly, the bonus is also calculated

    on the full sum assured. If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. Peopleshould give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

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    Jeevan Surabhi

    F eatures Jeevan Surabhi plan is similar to other money back plans.However main differences in regular money back plans and Jeevan Surabhi are as under Maturity term is more than premium payingterm. Early and higher rate of survival benefit payment. Risk cover increases every five years.

    Full sum assured is paid back as survival benefit by the end of premium paying term. However,the risk cover and additional risk cover continue and the policy participates in profits till the endof policy term.

    Accident Benefit is restricted to the premium paying period and to the overall limit of Rs.5 lakhson a single life.

    Jeevan M itra (T ri p le C o ver E nd o w m ent P lan)

    F eatures The benefits of this policy can be considered only for standard and substandard lives Class I andII. It cannot be allowed for people engaged in hazardous occupations. Individuals engaged indangerous pursuits will be rated against the revised tabular occupational extra rates.

    Suitable F o r: Being an endowment assurance policy, this plan is apt for people of of all ages and social groups

    who wish to protect their families from a financial setback that may occur owing to their demise.The amount assured if not paid by reason of his death earlier will payable at the end of theendowment term where it can be invested in an annuity provision for the rest of the

    policyholder's life or in any other way he may think most suitable at that time.

    Sp ecial F eatures: This policy covers the risk for triple the sum assured. Besides the usual benefits offered by anyendowment insurance plan, this policy provides for an additional insurance cover two times thesum assured in the event of a policy holders death during the term of the policy. In other words,the death claim in the case of this policy is thrice the basic sum assured. For instance, if a personinsured for Rs.1,000 under this policy were to die before its maturity, the death claim payable

    would be Rs.3,000 plus the accrued bonus on Rs.1,000, the basic sum assured. If the policyholder survives the full term of the policy, the payment on maturity would be Rs.1,000 plus theaccumulated bonus.

    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.

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    Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. Peopleshould give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

    W h o le L ife P o licy

    F eatures This plan is mainly devised to create an estate for the heirs of the policyholder as the plan

    basically provides for payment of sum assured plus bonuses on the death of the policyholder.However, considering the increased longevity of the Indian population, the Corporation hasamended the above provision, thereby providing for payment of sum assured plus bonuses in the

    form of maturity claim on completion of age 80 years or on expiry of term of 40 years from dateof commencement of the policy whichever is later.

    The premiums under the policy are payable up to age 80 years of the policyholder or for a termof 35 years whichever is later. If the payment of premium ceases after 3 years, a paid-up policyfor such reduced sum assured will be automatically secured provided the reduced sum assuredexclusive of any attached bonus is not less than Rs.250/-. Such reduced paid-up policy is notentitled to participate in the bonus declared thereafter but the bonuses already declared on the

    policy will remain attach, provided the policy is converted in to a paid-up policy after the premiums are paid for 5 years.

    Suitable F o r: This policy is suitable for people of all ages who wish to protect their families from financialcrises that may occur owing to the policyholders premature death.

    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    W h o le L ife P o licy 1

    F eatures

    As the name says Whole Life Policy which means will continue until you are aliveThis is the best form of life assurance for family provision since it enables the Life Assured to

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    Jeevan R ekha

    F eatures In order to give wider choice to our customers, it has been decided to introduce with effect from22nd July , 2002, Jeevan Rekha. Basically, the plan is a combination of the Whole Life Planand the Money Back Plan. Moderate Premiums High bonus High liquidity Savings oriented This

    policy not only makes provisions for the family of the Life Assured in event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide anannuity during the remainder of his life or in any other way considered suitable at that time.

    Dating Back: A policy under this plan can be dated back within the same financial year. There will be noallowance for lean months. The rate of interest applicable will be as for Table 14.

    Suitable F o r: Being an whole life policy + money back , this plan is apt for people of of all ages and socialgroups who wish to protect their families from a financial setback that may occur owing to their demise.

    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. Peopleshould give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

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    Jeevan Anand

    F eatures In order to give wider choice to our customers, it has been decided to introduce with effect from1 February, 2002, Jeevan Anand, a With Profit Assurance Plan. Basically, the plan is acombination of the Whole Life Plan and the most popular Endowment Assurance Plan. The plan

    provides the pre-decided Sum Assured and Bonuses at the end of the stipulated premium payingterm, but the risk cover on the life continues till death. Moderate Premiums High bonus Highliquidity Savings oriented. Premiums are usually payable for the selected term of years or untildeath if it occurs during the term period.

    This policy not only makes provisions for the family of the Life Assured in event of his earlydeath but also assures a lump sum at a desired age. The lump sum can be reinvested to providean annuity during the remainder of his life or in any other way considered suitable at that time.

    Suitable Fo

    r: Being an endowment assurance policy, this plan is apt for people of of all ages and social groupswho wish to protect their families from a financial setback that may occur owing to their demise.The amount assured if not paid by reason of his death earlier will payable at the end of theendowment term where it can be invested in an annuity provision for the rest of the

    policyholder's life or in any other way he may think most suitable at that time. If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give some thought to a subject that can be veryunpleasant. I guess that is why most people don't think about it, or at best think about it only after they have had a brush with death, or when a life insurance professional brings up the subject.Sometimes these people wait until it is too late to do something about such a critical matter.

    They find themselves uninsurable when they discover they have some critical illness. People should give life insurance buying serious thought at least once per year as ones situation maychange and you find that your need for life insurance may change as a result.

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    L ife Insurance- Invest m ent P o licies

    How much life insurance should you buy? The answer to that question is 10 to 15times your income. You'll need to evaluate the reason you're buying life insurance

    in order to properly answer this question. Once you can specifically answer thequestion Why am I buying life insurance you should be a long way towardsdetermining a proper amount.

    The biggest pitfall most people make in deciding how much life insurance theyneed is in treating this purchase as an emotional decision. Life insurance is afinancial product and should be treated as such. Looking at an amount of lifeinsurance and thinking 'that's too much' can leave you drastically under insured,and worse, leave your dependents without enough coverage in the event of your death.

    As noted above, the first question you need to ask yourself is "why am I buyinglife insurance?" For most of us with dependents and a debt loan the reason behind

    purchasing life insurance is so that our dependents can maintain their lifestyle inthe event of the death of an income earner. In short, most of us are looking tomaintain a standard of living for our dependents in the event of our death. That'sthe need and directly leads us to the answer of how much life insurance we need.Ans: 10 to 15 times your income.

    Click on any of the Insurance plans below for more details.

    Children Plans | Endowment Plans | Money Back Plans | Whole Life Plans

    If life insurance buying is approached in the proper manner it can be very beneficial to yourself and your family. You need to take the time to give somethought to a subject that can be very unpleasant. I guess that is why most peopledon't think about it, or at best think about it only after they have had a brush withdeath, or when a life insurance professional brings up the subject. Sometimes these

    people wait until it is too late to do something about such a critical matter.

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    SBI LIFE INSURANCE

    S BI life s mart performer s

    Intr o ducti o n:

    The equity market may have its ups and downs, but you now have a protectiveshield that will safeguard your investments, while providing upside potential. SBILife brings you Smart Performer, a unique Unit Linked, Non Participatinginsurance product that offers you the twin benefits of Higher than the Highest of the daily NAV Guarantee and the prospect of market upside. Whats more, it alsoallows you to protect your gains through Automatic Rebalancing facility and offersyou a choice of Single and Limited Premium Payment options.

    K ey F eatures:

    Guarantee at maturity based on 5% Higher than Highest Guaranteed NAV during the first seven years or prevailing NAV at Maturity,whichever is higher, subject to conditions #.Enjoy the best of both worlds - Guarantee only or Guarantee andMarket Upside through our unique Plan offerings - Secure Plan andSecure N Grow Plan respectivelyAutomatic Rebalancing to Lock-in your gainsConvenience through single premium (SP) or 5 year Premium PayingTerm (PPT)Life Insurance coverage with minimum Sum Assured of 10 times or 7times of your Annualised Premium (AP), based on your age.Liquidity through Partial Withdrawal(s)Option to customize the product with Accidental Death BenefitAttractive Tax benefits under the Income Tax Act, 1961, subject to

    conditions

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    Benefits:

    Maturity Benefit: On completion of Policy Term, Maturity Value will be paid.Maturity value for the Daily Protect Fund II will be calculated based on

    NAV which is higher of: Prevailing NAV as on date of Maturity OR Higher than Highest Guaranteed NAV: There will be an increment of 5% to the Highest NAV achieved during the first seven years under the Daily Protect Fund II.

    Death Benefit: Higher of the Fund Value or Sum Assured is payable;subject to a minimum of 105% of the total premiums paid at the timeof death. The death benefit is payable only for inforce policies.

    Accidental Death Benefit Option: Accidental Death Benefit: Providesadditional death benefit if the death occurs as a result of an accident.

    SBI life-unit p lus su per

    Intr o ducti o n:

    SBI Life Unit plus Super is a flexible non participating Unit linked insurancePlan, specially designed to meet your changing requirements at various stages of life. With a wide array of funds, riders and other options, this product gives you thecomplete freedom to fulfill all your investment and insurance needs. And thats notall; we now also offer you guaranteed additions and choice of payment options,giving you far superior value .

    K ey F eatures:

    Guaranteed Additions # of up to 75% of one annual regular premium on a regular premium poliPolicy being in force till the maturity date. No Policy Administration fee for first 5 years for Regular and Limited Premium Paying Term (value

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    No Premium Allocation Charge from 11th year onwards Guaranteed Additions starting as early as 10th policy year onwards Enhanced investment opportunity through 9 varied Fund Options including P/EManaged Fund, Index Fund & Top 300 Fund Option to pay Regular/Limited/ Single Premium; Switch or Redirect your premiums Flexible product with an option to increase/decrease your Sum Assured from 6thyear onwards Life Insurance coverage, with minimum Sum Assured, based on your age Liquidity through Partial Withdrawals.

    Benefits: Maturity Benefit: On completion of Policy Term, Fund Value will be

    paid.

    Death Benefit: Higher of the Fund Value or Sum Assured ## is payable;with a minimum of 105% of total basic premiums paid ## till the timeof death.

    Rider Benefits:

    Criti Care 13 Rider: Provides lump sum amount to take care of 13Critical Illnesses which include Cancer, Coronary Artery BypassGraft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure,Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgeryof Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis

    Accidental Death Benefit Linked Rider: Provides additional death benefit if the death occurs as a result of an accident.

    Premium Payor Waiver Benefit Rider: In the event of the death of the Proposer, the cover for the Life Assured under the base policycontinues and the future premiums under the base policy, payableduring the rider term, will be paid by the Company.

    Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to

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    Accident or Sickness, whichever is earlier. A 25% of incomesustainer benefit sum assured is paid upfront and 1% of incomesustainer benefit sum assured is paid monthly in arrears for 10years or till the end of the base policy term (capped at a maximumof 30 years) whichever is higher.

    SBI life saral m aha anand

    Intr o ducti o n:

    SBI Life - Saral Maha Anand, a unit linked insurance cum savings plan.Getting a Life Insurance policy was never so easyNo medical examination,which means hassle-free coverage. Enjoy the power of liquidity through partialwithdrawals. All these benefits at affordable costs, only for you.

    K ey

    y No medical examination, Simple joining process

    y Liquidity through Partial Withdrawals.

    y Guaranteed Additions

    ##

    of up to 30% of one annual premium,for a 20 year policy term, subject to the Policy being in force tillthe maturity date.

    y Option to avail additional rider benefit under SBI Life -Accidental Death Benefit Linked Rider (UIN: 111A019V01)

    y 4 Fund options, to enjoy market related returns as per your risk appetite.

    y Twin Benefit of Market linked returns & insurance cover.

    Benefits:

    y Maturity Benefit: On completion of Policy Term, Fund Value will be paid .

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    y Death Benefit: Higher of the Fund Value or Sum Assured * is payable; with a minimum of 105% of total basic premiums paid * till the time of death .

    R ider Benefits: y Accidental Death Benefit L inked R ider: P r o vides additi o nal death benefit if the death o ccurs

    as a result o f an accident .

    SBI life sm art sch o lar

    Introduction

    Life begins afresh when you become a parent. Its a joy you never felt and afeeling you never experienced. When your child takes baby steps towards you,you wonder what else bliss could be?Amidst all this divine happiness, theres a new sense of responsibility that fillsyour heart. Like you may not really believe that lifes a rose bed or a tender cushion, but you certainly want it to be for your lovely children. At SBI Life, weunderstand and we provide you with a unique, flexible and all-encompassingsolution through our SBI Life - Smart Scholar Plan.

    Key Fea

    y Secure your childs future by gaining from the financial marketsand much more.

    y Dual protection for your family, in case you are not around

    Payment of base Sum Assured and

    Inbuilt Premium Payor Waiver benefit to ensure continuance of your benefits.y Accident Benefit which includes Accidental Death benefit and

    Accidental Total and Permanent Disability (Accidental TPD) benefit, is an integral part of the plan.

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    y Free allocation of units by way of regular Loyalty Additions,giving periodic boosts to your investments.

    y Enhanced investment opportunity through 9 varied fundoptions including P/E Managed Fund, Index Fund & Top 300Fund.

    y Twin benefits of market linked return & insurance benefit.

    y Liquidity through partial withdrawal(s).

    y Tax benefits as per prevailing tax laws.

    Benefits:

    Basic Life Benefit: In the event of unfortunate death of life assured, a lump sum benefitequal to higher of the Sum Assured or 105% of all premiums paid tilldate of death will be payable. If on the date of death, the sum assured is less than 105% of all premiums paid, the amount in excess of the sum assured will be paidfrom your fund by disinvestment of units. In the event of death of child no sum assured is payable. Life assured

    will inform the Company regarding the event. In such case he/she caneither continue the policy or terminate the contract. In case of termination of contract, the fund value (without any surrender charges), will be payable. If both the life assured and the child die during the term of the policythe policy will be automatically terminated and all due benefits will be

    paid along with the fund value..Maturity Benefit: On completion of the policy term, maturity benefit i.e. the fund valueshall be paid to beneficiary in a lump sum or as per settlement option,if chosen.

    The beneficiary will be:

    The policyholder if he/she survives. OR Child, in case of death of the life assured during the policy term.

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