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A life cover that is practically FREE!!. SWADHAN. SBI Life products. Pension Scheme Lifelong Pensions. Savings cum Protection Sudarshan Sanjeevan & Young Sanjeevan. Protection cum Savings Scholar. Protection ?. Everyone needs Protection Products. As a social security tool:

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Swadhan

A life cover

that is practically

FREE!!

SWADHAN


Sbi life products
SBI Life products

Pension Scheme

Lifelong Pensions

Savings cum Protection

Sudarshan

Sanjeevan & Young Sanjeevan

Protection cum Savings

Scholar

Protection

?


Everyone needs protection products
Everyone needs Protection Products

  • As a social security tool:

    • Protection of the family

  • As a safe tool to build up assets:

    • Collateral for loans

      BUT…

      It would be much better if at least

      you get some benefits at the end of the term,

      DON’T YOU?


You are not comfortable with the idea

of paying premiums for 10 years without

receiving any benefits at the end!

We have created SWADHAN for you!


Swadhan1
SWADHAN

  • Pay premiums to protect your family….

  • And get back entire/part of the premiums paid at the end of the term!!

Upto 100% of basic premiums paid are refunded to YOU!!


Swadhan product features
SWADHAN: Product features


Swadhan2
SWADHAN

  • Age:

    • Minimum: 18 years

    • Maximum: 55 years

  • Maximum cover age:

    • 65 years

  • Sum Assured:

    • Minimum: Rs. 3 lakhs (x 10,000)

    • Maximum: Rs. 1 crore

  • Term:

    • 5 / 6 / 7 / 8 / 9 or 10 years

  • Premium mode:

    • Yearly / Half-Yearly / Quarterly

    • Standing instruction on bank / Credit Card Account for renewal premium(First premium always by cheque/draft).

Attractive premium rebate for women – 30 days money back guarantee


Death benefits
Death benefits

  • Sum Assured is payable to your nominee

EASY TO UNDERSTAND


Depending on the term chosen…YOU will get at the end

EASY TO REMEMBER


Men yearly premium sum assured rs 3 lakhs yearly premium net of rebates
Men: Yearly Premium Sum Assured: Rs. 3 lakhs(Yearly premium Net of Rebates)


How much does it effectively cost sum assured rs 3 lakh 30 years old man yearly premium
How much does it effectively cost?(Sum Assured: Rs. 3 lakh - 30 years old man – Yearly premium)

Total premium paid = Yearly premium / Term

Total insurance cost = Total Premium Paid – Maturity Benefits

Real cost of insurance per annum = Total insurance cost / Term

Effective premium varies from Rs. 1.66 a day to NOTHING!!


Woman yearly premium sum assured rs 3 lakhs yearly premium net of rebates
Woman Yearly Premium Sum Assured Rs. 3 lakhs(Yearly Premium net of rebates)

Attractive premium rates for women



Yearly premium for sum assured rs 1 lakh for of 30 or 45 years old man term 10 years
Yearly Premium for Sum Assured Rs. 1 lakh, For of 30 or 45 years old man, Term 10 years

Cost

Maturity benefit

Rs. 1 lac + VB

12,000

10,157

10,268

10,000

8,000

Maturity benefit

100% BP refunded

30 years

6,000

45 years

x 3

3,277

4,000

1,432

X 7

2,000

X 7

0

Swadhan

Sudarshan

Protection

Savings

Choose what you want and pay accordingly…


Tax advantages
TAX ADVANTAGES

Tax Rebate U/s 88 Made Easy

·Available for Premium Paid on Life Insurance Policies

·Policy can be in the name of Spouse or Children (Major or Minor & Married Daughters)

·Ceiling for Life Insurance Premium Paid: Rs.70,000


Tax advantages1
TAX ADVANTAGES

  • Maturity benefits as well as death benefits are tax-free in the hands of the policyholder /nominee u/s 10 (10D) I.T. Act.


Swadhan liquidity
SWADHAN : LIQUIDITY

Cash if you need

After the policy has acquired Surrender Value,

loan available at an attractive rate of interest

(PLR of SBI + 1%)

from any State Bank GroupBranch

Surrender Value


In case of unpaid premium
In case of unpaid premium

  • Grace period:

    • 30 days

  • If premium is not paid within this period:

    • During the first 3 years: policy lapses

    • After the first 3 years: paid-up value

Standing Instruction limits unpaid premium


Paid up value
Paid up value

  • An example:

    • Swadhan:

      • Rs. 5 lakhs Term: 10 years

      • 1st unpaid premium Year 8

    • Paid up value:

      • New death benefit:

        • Rs. 5 lakhs x (7/10) = Rs. 3.5 Lakhs.

      • New maturity benefit:

        • At the end of the policy, refund of:

          • (7/10) *100 = 70% of Total Premium Paid


Swadhan3
SWADHAN

30 days Money BackGuarantee

If a client is not satisfied with the features of the policy, he can return it within 30 days of the date of policy

SBI Life will give him a complete refund



Medical selection1
Medical selection

Definition of Sum Under Consideration:

Sum Assured for Swadhan

+

Sum Under Consideration for existing SBI Life individual policies

Basic medical test, subject to requirement


Premium rebates
Premium rebates

  • Due to mode of payment:

    • Yearly: 2%

    • Half-Yearly:1%

    • Quarterly: No rebate

  • For high Sum Assured:

    • Rs. 1 SA Rs. 3lakh upto Rs. 4.99 lakhs

    • R. 1.5 SA Rs. 5 lakhs and above

  • Special rebate for women

    • 5%

Special rebate for women!


Premium calculation
Premium Calculation

  • Based on:

  • Gender

  • Mode of payment

    Choose the right premium table

    Depending on:

  • Age

  • Term

    Find the premium rate

  • Deduct the rebate for high Sum Assured

  • Add extra premium for Non Standard Age Proof if any

  • Multiply the result by Sum assured / 1,00,000

    You get the premium amount

    (final premium should be rounded off to the next higher rupee)

EASY TO CALCULATE


An example
An example

  • Swadhan for 10 years term

  • Sum Assured: Rs. 5,50,000

  • Woman: 42 years old

  • Yearly mode

  • Premium calculation:

  • Choose Yearly premium table for woman.

  • Find out the rate for Rs. 1 lakh:

    • 10 years for a 42 years of age: 2,616.95

  • Deduct the rebate for high Sum Assured

    • 2,616.95 – 150 = 2,466.95

  • Calculate the premium for Sum Assured Rs. 5,50,000

    • Rs. 2, 466.95* 5.5 = Rs. 1 3,568.22

  • Round off to the next higher rupee

    • Rs. 13,568.22  Rs. 13,569

Ready made premium tables inclusive of all rebates



Who are the swadhan s customers
Who are the swadhan’s customers?

  • People who want:

    • A protection product with maturity benefits.

    • Tax rebates u/s 88 of I.T. act

  • People who need an additional collateral for loans:

    • For personnal loan, educational loan

    • S.I.B / S.S.I / Trade Advances segment

    • Loan amount is repaid in case of death

    • Free collateral in case of survival

      • 10 years term: 100% refund of premium

  • Women who want to benefit from low premium rate:

    • Upto 7% rebate

EASY TO SELL


Swadhan as a collateral
Swadhan as a collateral?

  • It doesn’t under any circumstances increase the credit limit / borrowing capacity of the borrowers, as it is not an endowment product.

  • It prevents the bank against N.P.A. due to death, not N.P.A. due to unpaid EMI.

Taking a Swadhan policy is not a guaranty of

Getting a loan from the bank


Remember
REMEMBER….

Adequate

Insurance

=

Windfall

The game of

the ladder

and

the snake

Non / Under

insured

=

Liability

SWADHAN: THE snake antidote


Why swadhan
Why SWADHAN?

  • Simple and affordable:

    • Choice of S.A.

      • From Rs. 3 lakhs upto Rs. 1 crore

    • Mode of payment:

      • Yearly / Half-Yearly / Quarterly

      • Automatic debit from the account throught standing instruction

    • Affordable premium rate

      • One of the lowest of the market

      • Unique feature for 5 / 6 / 7 / 8 and 9 years:

        • %tage of basic premium paid is refunded, not full basic premium makes premium rates very attractive.

  • Special rebate for women

    • Up to 7% on premium

  • 30 Days Money Back guarantee

    • SBI Life gives complete refund of money if the customer is not satisfied within 30 days from the receipt of the policy document.