Decreasing term life insurance

Decreasing term life insurance is constructed for those who have financial obligations and there is a risk that if something happens those debts may be not repaid. In such case this kind of insurance is a good decision because it usually is set to cover the outstanding balance of the debts. Decreasing term life insurance is provided by most life insurance companies.

Why decreasing term life insurance

Sometimes this type of insurance is also called mortgage protection insurance. Mortgage is usually one of the biggest financial obligations that an individual can have. Naturally it causes financial distress for family members because each month payments have to be made to the bank. If something happened to the breadwinners of the family, it would cause big problems to other family members. Thus, in order to protect themselves, family members should consider what possible precautions could be taken. Lets consider the situation where an individual wants to cover himself so it would be easier to pay off the mortgage for other family members in case the insured person dies. It is natural that mortgage burden is decreasing over time and there may be no need to have the same insurance cover in the first year as in the last ones. In this case a good option is to consider taking a decreasing term life insurance. As the name suggests, this type of insurance guarantees lower potential payoff as time passes by. For example, a person took a mortgage that is worth 1,000,000. The mortgage has to be fully repaid after 10 years. The mortgage is repaid using linear schedule. This means that every year 10% of the initial amount of mortgage has to be repaid and this amount is equal to 100,000. The graph above presents how the cover of life insurance decreases over time. In the first year the cover is equal to 1,000,000 because none of the mortgage is being repaid. Every year the cover is decreased by 100,000 and after 10 years the cover is equal to zero and the insurance is terminated.

introduction: SBI Life - Saral Maha Anand is a product created just for you, which will pleasantly surprise you with its sheer Simplicity and Convenience! It is a unit linked, non participating life insurance plan, which lets you manage your investments according to your risk appetite, giving you the power to realise market related returns on your policy. You can choose your required life insurance cover subject to a minimum and a maximum level.

Key Features:

No medical examination, Simple joining process^^ Guaranteed Additions of up to 30% of one annual premium, for a 20 year policy term, subject to
the Policy being in force till the maturity date.

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 Option to customize the plan through SBI Life - Accidental Death Benefit Linked Rider (UIN:
111A019V02)

Twin Benefit of Market linked returns & insurance cover

Product Snapshot Age at Entry ^ Max. Age^ at Maturity Policy Term Premium Range (x100) Minimum: 18 years 65 years 10 years / 15 years / 20 years Premium Frequency Minimum (in Rs.) Maximum (in Rs.) Yearly Half-yearly Quarterly Monthly Premium Modes Sum Assured 15,000 9,500 5,500 2,000 29,000 14,500 7,200 2,400 Maximum: 55 years

Yearly / Half-yearly / Quarterly / Monthly Minimum (in Rs.) Age below 45 years Age 45 years or above Maximum (in Rs.) Age below 45 years Age 45 years or above

10 x AP

7 x AP

20 x AP

20 x AP

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 time of death

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

Tax Benefits
Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt. Tax benefits, are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Introduction: You may have ever changing needs, but as your preferred life insurance company, SBI Life definitely understands all your financial & insurance needs. SBI Life - Smart Wealth Builder, a unit linked, non participating, insurance plan is an attempt to meet all your financial & insurance needs through a single product. You can use it the way you like. You can choose your required life insurance cover subject to a minimum and a maximum level.

Key Features:

Guaranteed Additions# (Conditions Apply) up to 125% of one annual regular premium on a regular
premium policy, for a 30 year policy term, subject to the Policy being in force till the maturity date.

Guaranteed Additions starting as early as 10th policy year onwards No Policy Administration fees for first 5 years for Regular and Limited Premium Paying Term (LPPT)
plans, thereby boosting your fund value

No Premium Allocation Charge from 11th year onwards Enhanced investment opportunity through 7 varied Fund Options Life Insurance coverage, with minimum Sum Assured based on your age Flexible product with an option to increase/decrease your Sum Assured from 6 th policy year onwards

Product Snapshot Age* at Entry Min: 7 years Max: For Regular Premium & Limited Premium: 60 years For Single Premium: 65 years 70 years Regular Premium / Limited Premium / Single Premium Regular & Limited Premium Payment - 10 years, 15 to 30 years (both inclusive) Single Premium - 5 to 30 years 5/8 years for Policy term of 10 years 5/8/10 years for Policy term of 15-30 years Plan Type Regular premium Limited premium Single premium Premium Modes Sum Assured Premium Mode Regular Premium Limited Premium Single Premium Single/Yearly Minimum (in Rs.) Age below 45 years Higher of [(10 x AP ) or (0.50 x Term x AP)] 1.25 x SP Age 45 years or above Higher of (7 x AP) or (0.25 x Term x AP)] 1.1 x SP Maximum (in Rs.) Age below 45 years 20 x AP 15 x AP 3 x SP Age 45 years or above 20 x AP 15 x AP 1.25 x SP Premium Frequency Annual Annual Single Minimum Rs. 30,000 Rs. 40,000 Rs. 65,000 Rs. 3,00,000 Maximum

Age* at Maturity Plan Type Policy Term^

Premium Payment Term Premium Amount (X 100)

* All the references to age are age as on last birthday. # Guaranteed Additions at the specified percentages for RP, LPPT & SP, will be given at the end of 10th policy year and every five years thereafter for policies which are in- force. ^ In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity life assured should be a major. In case of minor lives, date of commencement of policy and date of commencement of risk shall be same Various charges such as Premium Allocation Charges, Policy Administration Charges, Fund Management Charges etc are deducted. For the complete list of charges and their workings, please refer the Sales Brochure.

Benefits:

Maturity Benefit: (Applicable only for in-force policies): On completion of Policy Term, Fund Value
will be paid.

Death Benefit: (Applicable only for in-force policies): Higher of the Fund Value or Sum Assured## is
payable; with a minimum of 105% of total basic premiums paid till the date of intimation of death.

Tax Benefits:
Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt. Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Introduction: You may have ever changing needs, but as your preferred life insurance company, SBI Life definitely understands all your financial & insurance needs. SBI Life - Smart Wealth Builder, a unit linked, non participating, insurance plan is an attempt to meet all your financial & insurance needs through a single product. You can use it the way you like. You can choose your required life insurance cover subject to a minimum and a maximum level.

Key Features:

Guaranteed Additions# (Conditions Apply) up to 125% of one annual regular premium on a regular
premium policy, for a 30 year policy term, subject to the Policy being in force till the maturity date.

Guaranteed Additions starting as early as 10th policy year onwards No Policy Administration fees for first 5 years for Regular and Limited Premium Paying Term (LPPT)
plans, thereby boosting your fund value

No Premium Allocation Charge from 11th year onwards Enhanced investment opportunity through 7 varied Fund Options Life Insurance coverage, with minimum Sum Assured based on your age Flexible product with an option to increase/decrease your Sum Assured from 6th policy year onwards

Product Snapshot Age* at Entry Min: 7 years Max: For Regular Premium & Limited Premium: 60 years For Single Premium: 65 years 70 years Regular Premium / Limited Premium / Single Premium Regular & Limited Premium Payment - 10 years, 15 to 30 years (both inclusive) Single Premium - 5 to 30 years

Age* at Maturity Plan Type Policy Term^

Premium Payment Term Premium Amount (X 100)

5/8 years for Policy term of 10 years 5/8/10 years for Policy term of 15-30 years Plan Type Regular premium Limited premium Single premium Premium Frequency Annual Annual Single Minimum Rs. 30,000 Rs. 40,000 Rs. 65,000 Rs. 3,00,000 Maximum

Premium Modes Sum Assured

Single/Yearly Minimum (in Rs.) Premium Mode Regular Premium Limited Premium Single Premium Age below 45 years Higher of [(10 x AP ) or (0.50 x Term x AP)] 1.25 x SP Age 45 years or above Higher of (7 x AP) or (0.25 x Term x AP)] 1.1 x SP Maximum (in Rs.) Age below 45 years 20 x AP 15 x AP 3 x SP Age 45 years or above 20 x AP 15 x AP 1.25 x SP

* All the references to age are age as on last birthday. # Guaranteed Additions at the specified percentages for RP, LPPT & SP, will be given at the end of 10th policy year and every five years thereafter for policies which are in- force. ^ In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity life assured should be a major. In case of minor lives, date of commencement of policy and date of commencement of risk shall be same Various charges such as Premium Allocation Charges, Policy Administration Charges, Fund Management Charges etc are deducted. For the complete list of charges and their workings, please refer the Sales Brochure.

Benefits:

Maturity Benefit: (Applicable only for in-force policies): On completion of Policy Term, Fund Value
will be paid.

Death Benefit: (Applicable only for in-force policies): Higher of the Fund Value or Sum Assured## is
payable; with a minimum of 105% of total basic premiums paid till the date of intimation of death.

Tax Benefits:
Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt. Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Introduction: SBI Life - Shubh Nivesh is a non- linked, with profit Endowment Assurance product with an option of Whole Life coverage. The basic purpose is to provide Savings, Income and Insurance Cover to you and your family. Not only you can save regularly for your future but you also have the flexibility to receive the maturity amount as a lump sum or as a regular income for a chosen period, depending upon your needs.

Key Features:

A savings plan with flexibility of availing whole life insurance as an add-on benefit Benefits including Wealth Creation, Insurance cover and Regular flow of income Flexibility to choose between Single or Regular premium payment Additional rider benefits at an affordable cost Option to receive the Basic Sum Assured at regular intervals over a stipulated time period of 5/10/15/20 years Comprehensive risk coverage through 3 Riders:

SBI Life - Preferred Term Rider (UIN:111B014V02) SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02) SBI Life - Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V02)

Tax benefits as per prevailing norms under the Income Tax Act, 1961

Shubh Nivesh at a Glance: Age* at Entry Min.: 18 years Max.: Endowment Option: RP - 58 years SP - 60 years Endowment with Whole Life option - 50 years

Maximum Age* at Maturity Sum Assured Policy Term

65 years, which increases to 100 years if the Endowment with Whole Life option is taken Min: Rs.75,000 (x 1,000/-) Min.: Endowment Option 7 (RP) / 5 (SP) years Endowment with Whole life option 15 (RP) / 15 (SP) years Max: No Limit Max.: 30 years (Endowment Term)

Premium Frequency Premium Paying Term Premium Frequency Loading

Single Premium / Yearly / Half-yearly / Quarterly / Monthly Same as policy term Half-Yearly: 52% of annual premium Quarterly: 26.5% of annual premium Monthly: 8.9% of annual premium

Premium

Min. Single Premium: Based on the minimum Sum Assured Yearly: Rs.6,000 Half yearly: Rs. 3,000 Quarterly: Rs. 1500 Monthly: Rs. 500

Max. No Limit

No Limit No Limit No Limit No Limit

*All the references to age are age as on last birthday. #For Monthly mode, 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card) For Monthly Salary Saving Scheme (SSS), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction

How does it work? SBI Life - Shubh Nivesh has two options:

Endowment Option: The base plan is a traditional endowment plan with simple reversionary bonuses which accrue till
the end of the endowment term. The sum assured with all accrued bonuses will be paid on survival till the end of the endowment term or on earlier death.

Endowment with Whole Life Option: If you opt for a policy term of 15 years or more you also have an option to extend your cover for
the whole life (or 100 years of age). The option gives you an Endowment + Whole life plan whereby, in addition to the Endowment plan benefits you are entitled to an additional amount equal to the basic sum assured on survival till age 100 years or on earlier death during the extension period.

Benefits:

Maturity Benefit: Depending upon the plan option chosen: 1. Endowment Option

After completion of endowment term, the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, provided the policy is in-force. Deferred Maturity Payment option is available: Can be selected at the end of the endowment term

2. Endowment with Whole Life Option

After completion of endowment term the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, provided the policy is in-force. Deferred Maturity Payment option is available: Can be selected at the end of the endowment term On attainment of 100th birthday: Basic Sum Assured will be paid

Death Benefit: In the unfortunate death of the Life Assured, depending upon the plan option chosen:

1. Endowment Option: Death before the completion of endowment term provided the policy is in-force :

For Regular Premium: Higher of A or B is paid to the nominee, where: A. Sum Assured on death + Vested Simple Reversionary Bonuses + Terminal bonus, if any.

Sum assured on death is higher of Basic Sum Assured or a multiple of annualised premium; where multiple is: Policy Term Age at entry of Life Assured less than 45 years 5 10 Age at entry of Life Assured 45 years or more

Less than 10 years 10 years or more B.

5 7

105% of all the premiums paid.

For Single Premium: Sum Assured on death +Vested Reversionary Bonuses + Terminal bonus, is any, is paid to the nominee Sum assured on death is higher of Basic Sum Assured or a multiple of single premium; where multiple is: Age at entry of Life Assured < 45 years 1.25 Age at entry of Life Assured >= 45 years 1.10

2. Endowment with Whole Life Option Death before the completion of endowment term provided the policy is in-force: Death Benefit as defined under point 1 of Endowment option, will be paid to the nominee. Death after completion of the endowment term and up to 100 years of age: Basic Sum Assured benefit will be paid to the nominee. Balance amount of Deferred Maturity Payment Option, if availed and if any, will be paid to the nominee. However, the nominee has an option to take the remaining installments in lump sum which will be equal to the discounted value of the remaining installments.

Other Benefits

Deferred Maturity Payment OptionYou can use this option to get income at regular intervals. At the end of the endowment term you can either withdraw the full sum assured along with accumulated bonuses or you can withdraw only the bonus, leaving the basic sum assured to be drawn as income at regular intervals over a stipulated time period of 5 , 10 , 15 or 20 years. Income will be paid at a frequency (Yearly/Half-Yearly/Quarterly/Monthly) of your choice.

Three sets of riders: -

SBI Life - Preferred Term Rider (UIN:111B014V02): The Preferred Term rider Sum Assured is payable in addition to normal death benefit SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02): In case death due to an accident, the rider Sum Assured is payable in addition to normal death benefit

SBI Life - Accidental Total & Permanent Disability Benefit Rider (111B016V02): The rider Sum Assured will be paid on the Life Assured being found eligible for the Total Permanent Disability Benefit as defined in the policy document.

Tax Benefits:

Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Introduction: SBI Life - Flexi Smart Plus is Individual, Participating, Variable Insurance Product, which helps you in fulfilling your dreams. It also gives you flexibility to adapt to your ever-changing needs, while assuring guaranteed benefits to take care of your savings.

Key Features:

Guaranteed Minimum Bonus Interest rate* Conditions apply

A minimum bonus interest rate of 1.00% p.a. is guaranteed for the whole term.

Interim bonus interest rate

An Interim bonus interest rate will be declared at the beginning of each financial year which will apply to the policies exiting during the financial year.

Regular Bonus Interest rate

Regular Bonus interest rate will be declared at the end of every financial year.

Terminal Bonus Interest rate

Terminal bonus interest rate may be credited to your policy account at the time of exit on account of maturity, death or surrender. Your policy will be credited with the Regular Bonus interest rates and Terminal Bonus interest rate, if any. Regular bonus interest rate once declared becomes guaranteed for the policy account.

Two Protection option available: Gold Option and Platinum Option Partial Withdrawal
Partial withdrawals are allowed from the 6th policy year to cater to your liquidity needs.

Flexibility to increase or decrease your chosen Sum assured Flexibility to increase your chosen policy term
* The guarantee is applicable to policies which are in-force and within the revival period.

Plan at a Glance :

Age^ at Entry Age^ at Maturity Sum Assured Sum Assured Multiple Factor (SAMF)

Min: 18 years Min: 23 years

Max: 60 years Max: 65 years

Basic Sum Assured = Annualised Basic Premium SAMF Min: SAMF Higher of 10 / 7 (age < 45 / age > = 45) OR 0.50/ 0.25(age < 45 / age > = 45) x Policy Term Min: 5 years Same as policy term Yearly / Half-yearly / Quarterly / Monthly Min Yearly Half-yearly Quarterly Monthly Rs 50,000 Rs 30,000 Rs 20,000 Rs 9,000
#

Max: 20

Policy Term Premium Paying Term Premium Frequency Premium Amounts (in multiples of Rs 100)* *In case of mode change it may be in multiples of Re 1

Max: 30 years

No Limit

All the references to age are age as on last birthday.

# For Monthly Mode, 3 months premium to be paid in advance and renewal premium payment is allowed only through Electronic Clearing System (ECS), Credit Card, Direct Debit and SI - EFT.

How does the Plan work? Your Policy Account The policy account represents the value of the fund that belongs to you. The policy account will be credited with the premiums paid, net of all premium allocation charge under the policy, on which the additions as stated below will be credited. All other charges would be recovered from the policy account value. All withdrawals, payouts etc. made to you will also be deducted from your policy account. The various layers of additions which will be applying to the policy account is stated as below -

The guaranteed minimum bonus interest rate for the product is 1.00% p.a for the whole term. In addition to the above, a non-zero positive regular bonus interest rate will be declared at the end of each financial year based on the surplus arising upon the statutory valuation of assets and liabilities. An interim bonus interest rate will be declared at the beginning of each financial year which will apply to the policies exiting during the financial year. The bonus interest rate declared at the end of the year will not be less than the interim bonus interest rate. At the time of policy exit (maturity/death/surrender), a terminal bonus interest rate may be paid.

Benefits:

On Death
In case of unfortunate event of death of the Life Assured, the beneficiary will receive the following benefit:

For Gold Option: Higher of Policy Account Value or Sum Assured^ / Paid-up Sum Assured^ as applicable or 105% of total premiums paid as on the date of intimation of death claim. ^Sum assured will be reduced to the extent of partial withdrawals made in the last 2 years for age on death below 60 years and for age at death 60 years & above all partial withdrawals made from 58 years onwards. For Platinum Option: Higher of Policy Account Value PLUS Sum Assured / Paid-up Sum Assured as applicable or 105% of total premiums paid as on the date of intimation of death claim.

On Survival
Maturity BenefitOn maturity, the policy holder will be entitled to policy account value including Terminal Bonus interest rate if any, calculated on the maturity date and will be payable as a lump sum on maturity.

Tax Benefits
Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt. Tax benefits, are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.