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We wish to inform all our policyholders / beneficiaries that in line with the recent changes introduced by IRDAI, the computation of Net Asset Value for Linked funds stands modified. IRDA/Reg./ dated February 16, 2013, the computation of Net Asset Value for Linked funds stands modified. # The Riders under this product are SBI Life - Accidental Death Benefit Rider (UIN: 111B015V03) and SBI Life - Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V03)Īs stipulated by IRDAI in Annexure 2 of its circular F&I-CIR-INV-173-08-2011 dated J& restated in IRDAI (Linked Insurance Products) Regulations, 2013, Ref.

The Terminal benefit shall be payable in any one of the following death benefit payment mode as opted under the plan at the policy inception.

The policyholder is required to pay the reduced premium for the balance death benefit to keep the policy inforce. Following the claim under Terminal illness benefit, if the Sum assured is higher than the Terminal Illness benefit paid, the balance death benefit will be paid on the death provided the policy is in-force.

2,00,00,000 (for in-force policies) would be payable. In the unfortunate event of the life assured being diagnosed with terminal illness, during the policy term, or before attainment of 80 years, whichever is earlier the benefit equal to sum assured on death as on date of diagnosis would be payable, subject to maximum of Rs.+Absolute amount Assured to be paid on death will depend on the plan option chosen by you at the policy inception and be as follows:īasic Sum Assured as on the Date of Death with eligible benefit increases till the date of deathīasic Sum assured Plus any additional sum assured on account of exercising the Life Stage Option till the date of death Absolute amount Assured + to be paid on deathġAnnualised premium shall be the premium amount payable in a year, chosen by the policy holder, excluding the applicable taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if anyĢSingle Premium / Total Premiums paid / received means total of all the premiums received, excluding any extra premium, any rider premiums and applicable taxes. For Single Premium Policies: Higher of the following:.105% of the total 2 premiums received up to the date of death Absolute amount Assured + to be paid on death, or For Regular and Limited Premium Policies: Higher of the following:.In case of death of Life assured during the policy term, we will pay the “Sum Assured on Death”, which is : Depending upon the Plan Option chosen, the nominee/beneficiary will receive the following Death Benefit, provided the policy is in-force as on the date of death of life assured.