Robinhood Insurance Broker Private Limited

Product Info

UIN

111L070V01

Status

Withdrawn

Launch Date

06/09/2010

Withdrawn Date

01/01/2014

Product Overview

SBI Life - Saral Maha Anand is a unit linked, a non-participating plan which allows you to manage your investment according to your risk appetite. It is a simple and convenient plan which allows you to choose your required life insurance cover subject to a minimum and a maximum level.

Product Description

  • No medical examination, Simple joining process
  • 3 fund options, to enjoy market-related returns as per your risk appetite
  • No Premium Allocation Charge from 11th year onwards, thereby boosting your fund value
  • Liquidity through partial withdrawals
  • Twin Benefit of Market linked returns & insurance cover

COMPARE & BUY SIMILAR PLANS

I hereby authorize OneInsure to communicate with me on the given number for my Insurance needs.
I am aware that this authorization will override my registry under NDNC.

THANK YOU!

Unique Features

  • Non-medical vanilla unit linked endowment plan.
  • Guaranteed addition of up to 30% of the annualized premium (depending on the term of the plan).

Eligibility Criteria

Eligibility Criteria
Age at Entry Min: 18 years 
Max: 55 years
Maximum Age at Maturity 65 years
Policy Terms 10/ 15/ 20 years 
Premium Payment Modes Yearly, Half-yearly, Quarterly & Monthly
Premium Range (x100) Premium Frequency Minimum (in Rs.) Maximum (in Rs.)
Yearly   15,000 29,000
Half-yearly 9500 14500
Quarterly 5500 7200
Monthly 2000 2400
Sum Assured Minimum Maximum
Age below 45 years= 10 X AP Age below 45 years= 20 x AP
Age 45 years or above 7 X AP Age 45 years or above= 20 x AP

OneInsure App Benefits

Store Digitally  |  Get Premium Reminders  |  Service and Claim assistances  |  Empower Nominee
Download OneInsure App :

Product Benefit

Benefit Description
 Maturity Benefit On completion of Policy Term, Fund Value will be paid
Term of
Settlement Option
The following proportion of available Fund Value is paid over the term of the settlement option chosen:
2 3 4 5
Year 1 1/2  1/3 1/4 1/5
Year 2 1 1/2  1/3 1/4
Year 3 - 1 1/2  1/3
Year 4 - - 1 1/2 
Year 5 - - - 1
 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.

Other Policy Features

Feature Description
Guaranteed Addition The additions are made as a percentage of one Annualised Premium as given below.
Policy Year Guaranteed Addition (% of Annualised Premium)
10 5%
15 10%
20 15%
The Guaranteed Addition will be offered for all Policy Terms irrespective of premium frequencies.
The same will be added through the allocation of units each at the end of 10 , 15 and 20 Policy Years.
Discontinuance of Premium If you choose to withdraw completely, during the first 5 Policy Years.
 We will disinvest your units in all the Funds on the day we receive your request and pay the Fund Value.
If no response has been received from you within the stipulated period, then it will be deemed that you have opted for the ''Complete Withdrawal Option'.
Surrender You can surrender your policy at any time during the Policy Term. 
1. If surrender is requested during the first 5 Policy Years:-
Then a lock-in condition applies
You will earn a minimum interest rate of 3.5% p.a. on this Fund. No further charges are deducted from the Fund. Life cover and Rider Cover (if any) will cease to apply.
The Fund Value will be payable on the 1st working day of the 6th Policy Year.
If the surrender is requested any time after completion of 5 Policy Year then the Fund Value will be paid immediately.
Fund Options Index Fund
The objective of the Fund is to provide returns closely corresponding to returns of NSE S& P CNX Nifty Index, though investment regulations may restrict investment in group companies and some large cap companies listed on the Nifty Index, leading to higher tracking error.
Asset  Minimum Maximum Risk Profile
Equity 90% 100% High
Money Market Instruments and Cash  0% 10%
Equity Fund
The objective of this Fund is to provide high equity exposure targeting higher returns in the long term.
Asset  Minimum Maximum Risk
Profile
Equity & Equity Related Instruments 80% 100% High
Debt & Money Market Instruments 0% 20%
Balanced Fund
The investment objective of this Fund is to provide accumulation of income through investment in both equities and fixed income securities with an attempt to maintain a suitable balance between return and safety.
Asset  Minimum Maximum Risk Profile
Equity & Equity Related Instruments 40% 60% Medium
Debt & Money Market Instruments 40% 60%
Bond Fund:
The objective of the Fund is to provide relatively safe and less volatile investment option mainly through debt
instruments and accumulation of income through investment in fixed income securities.
Asset  Minimum Maximum Risk Profile
Debt Instruments  60% 100% Low to Medium
Money Market Instruments  0% 40%
Switching Option You can Switch the allocation of your investments among the available 4 Funds
 Minimum Switch amount is Rs. 2,000. 
Two Switches are allowed free of charge in a Policy 
Switch Charges will be recovered from the Fund Value. Unused free Switches
cannot be carried forward
Premium Redirection Option Premium Redirection facility is allowed from 2 Policy Year onwards
A charge of Rs. 100 will be levied per redirection request in excess of free redirection request in the same Policy Year. Unused redirections cannot be carried forward.
Partial Withdrawals Partial Withdrawals are available from the 6 Policy Year onwards. 
Partial Withdrawals the Guaranteed Addition will be reduced pro-rata to the extent of the Partial Withdrawals made till the date of the Guaranteed Addition
One free Partial Withdrawal in a Policy Year is allowed.
A charge of Rs. 100 per withdrawal in excess of free Partial Withdrawal
will be charged.
There is no carry forward of free unused Partial Withdrawal for future Policy Years. 
A maximum of 2 Partial Withdrawals can be made in one Policy Year and not more than 5 Partial Withdrawals are allowed in entire Policy Term for Policy Term 10 years and 10 Partial Withdrawals for Policy Term 15 years and 20 years.
Minimum Partial Withdrawal amount allowed is Rs. 2,000 (in multiple of Rs. 1,000). Maximum Partial Withdrawal allowed is up to 15% of Fund Value as on withdrawal request date.

Add-ons

Accidental Death Benefit Linked Rider: The rider sum assured would be paid to the nominee in case of death due to an accident.

Charges

Charges
Premium Allocation Charges: (as a percentage of Regular Premium) Policy Year Premium Allocation Charges
1 6.25%
2 3.75%
3 3.75%
4 3.75%
5 3.75%
6 3.00%
7 3.00%
8 3.00%
9 3.00%
10 3.00%
11  onwards  0.00%
Note: The allocation to units is made after the deduction of the charge from the Premium received.
Policy Administration Charges Monthly Policy Administrative Charges are Rs. 33.33/- per month.
These charges will be deducted on the first business day of each Policy Month by way of cancelling an appropriate number of units.
Fund Management Charges A certain fixed percentage of the relevant Fund before calculating the NAV on a daily basis will be charged as per the rates below:
Fund Name Fund Management Charges
Index Fund  1.25% p.a
Equity Fund 1.35% p.a
Balanced Fund 1.25% p.a
Bond Fund  1%  p.a
These charges may be increased within the maximum limit allowed with notice to the Policyholder and subject to IRDA approval. 
Discontinuance Charges Discontinuance charges are expressed as a percentage of one Annualised Premium or Fund Value.
Year of
Discontinuance
For Annual Premium
up to Rs. 25,000 
For Annual Premium above Rs. 25,000
1 Lower of 20% × (AP or FV)
subject to a maximum of Rs. 3,000
Lower of 6% × (AP or FV)
subject to a maximum of Rs. 6,000 
2 Lower of 15% × (AP or FV)
subject to a maximum of Rs. 2,000
Lower of 4% × (AP or FV)
subject to a maximum of RS. 5,000 
3 Lower of 10% × (AP or FV) 
subject to a maximum of Rs.1,500
Lower of 3% × (AP or FV)
subject to a maximum of Rs.4,000
4 Lower of 5% × (AP or FV) 
subject to a maximum of Rs.1,000
Lower of 2% × (AP or FV)
subject to a maximum of Rs.2,000
5 onwards NIL NIL
Premium Redirection Charge A charge of Rs. 100 is applicable for every redirection in excess of one free redirection in same Policy Year.
Mortality Charges Mortality charges are deducted on the first business day of each Policy Month from Fund Value by way of cancellation of unit
Mortality charges will be based on your age and Sum at Risk at the time of charge deduction.
Switching Charge A charge of Rs. 100 is applicable for every switch, in excess of two free Switches in the same Policy Year.
Partial Withdrawal Charge A charge of Rs. 100 is applicable for every Partial Withdrawal in excess of one free Partial Withdrawal in same Policy Year.
Miscellaneous Charges For issuance of the additional/duplicate copy of yearly Fund statement an amount of Rs. 100 per statement will be charged.

Exclusions

If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.

Tax Benefits

Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961

Claim Process

Know claim process of SBI Life Saral Maha Anand Plan

Claim Process

 

Company Overview

SBI Life Insurance Company is a joint venture between State Bank of India and BNP Paribas Assurance, a French Multinational Bank. With its huge banking channel and customer base, SBI Life has soon become one of the top insurers in India. The company offers a wide range of life insurance and pension products at economical prices.

BENEFITS OF BUYING FROM ONEINSURE

OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.

10
YEARS OF JOURNEY
50,000
HAPPY CUSTOMERS
APP SUPPORT
500+
INSURANCE EXPERTS
7
CITIES
23
OFFICES

That’s a good decision!

By clicking on the “SUBMIT” button, I accept the Terms & Conditions and authorise OneInsure representatives to contact me via Call / SMS / Email

THANK YOU!

A OneInsure representative will call you shortly.

Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
price
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

That’s a good decision!

By clicking on the “SUBMIT” button, I accept the Terms & Conditions and authorise OneInsure representatives to contact me via Call / SMS / Email

THANK YOU!

A OneInsure representative will call you shortly.

Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.

BUY NOW