Sbi Smart Scholar Returns Calculator

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– SBI Life Smart Scholar Premium, Maturity Calculator

SBI Life – Smart Scholar (UIN: 111L073V02) is a product with the code 51.

SBI Smart Scholar Returns Calculator allows you to calculate the maturity amount for SBI Life Smart Scholar Premium. With this tool, you can easily determine the returns on your investment without any hassle.

SBI Life Insurance Policy can fullfill your needs and provide you with a flexible and all-encompassing solution: SBI Life – Smart Scholar, a non participating Unit Linked Insurance Plan. Secure your child’s future by gaining from the financial markets. SBI Life – Smart Scholar policy specially crafted for your child.

SBI Life Smart Scholar Premium and Maturity Calculator: Important Features

Child: Minimum age requirement is 0 years, while the maximum age allowed is 17 years.

SBI Life Smart Scholar Premium, Maturity Calculator – Policy Term

The minimum duration for the SBI Smart Scholar Returns Calculator is 8 years, while the maximum duration is 25 years minus the age of the child at entry.

At the time of maturity, it is important for the child to be in the age range of 18 to 25 years.

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What are the tax benefits of SBI Smart Scholar plan?

One such condition is related to the premium amount in comparison to the sum assured. If the premium paid for a policy exceeds 10% of the sum assured, then only 10% of the sum assured will be eligible for tax benefit purposes. This means that if your premium is higher than this threshold, you will not receive full tax benefits on your entire sum assured.

SBI Life Smart Scholar Premium and Maturity Calculator – PPT (Premium Payment Terms)

The tenure for Single Premium (SP) ranges from 5 to 25 years, depending on the policy term limits.

SBI Smart Scholar: What is the death benefit?

In case of the unfortunate demise of the insured person, a lump sum benefit will be provided as the death benefit. This benefit will be equal to either the higher amount between the basic sum assured or 105% of the total premiums received until the date of death.

List:

– The death benefit is payable in case of an untimely death.

– It is a lump sum amount that is given to beneficiaries.

– The amount paid out depends on which value is higher: either the basic sum assured or 105% of all premiums received until that point.

SBI Life Smart Scholar Premium, Maturity Calculator – Benefits of the Policy

Upon reaching the end of the Policy Term, the amount equivalent to the Fund Value will be disbursed as Maturity Benefit.

If the life assured passes away, a lump sum amount will be given to their beneficiaries. This amount will be either the Sum Assured or 105% of all premiums paid up until the date of death, whichever is higher. Additionally, if you are unable to pay future premiums due to certain circumstances (Premium Payor Waiver Benefit), the company will cover them on your behalf. At maturity, you will receive the accumulated fund value. Furthermore, in case of accidental death or total and permanent disability caused by an accident, an additional benefit equal to the Accident benefit Sum Assured will be provided.

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The Accident Benefit and Premium Payor Waiver Benefit cannot be availed in the Single Premium policies.

Tax Benefits

  • Tax deduction under Section 80C 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.

SBI Smart Scholar Premium Calculator for Child Plans

SBI Life offers two premium calculators for their insurance plans, namely the SBI Life Smart Champ Insurance Premium Calculator and the SBI Life Smart Scholar Premium Calculator. These calculators help individuals calculate their insurance premiums accurately.

Surrendering the SBI Smart Scholar policy: How can I do it?

To surrender your SBI Life Insurance policy, you can visit the nearest branch of SBI Life Insurance. Once there, you will need to obtain the Policy Surrender Form. Fill out this form completely and accurately, providing all the necessary information. Along with the filled-out form, you will also need to submit certain documents such as the original policy documents and a canceled cheque bearing your name.

Surrendering a life insurance policy means terminating it before its maturity date and receiving a lump sum amount in return. This may be done for various reasons such as financial difficulties or changing insurance needs. To surrender an SBI Life Insurance policy, follow these steps:

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1. Visit your nearest SBI Life Insurance branch.

2. Obtain the Policy Surrender Form from them.

3. Fill out all required details on the form accurately.

4. Gather necessary documents including original policy papers and a cancelled cheque with your name on it.

5. Submit these completed forms and documents at the branch.

Does SBI Smart Privilege have tax exemption?

Upon the completion of the Policy Term, you will receive a lump sum payment as a maturity benefit, which is equivalent to the Fund Value. This means that all your investments and returns accumulated over the policy duration will be paid out to you in one go. It provides a convenient way for you to access your funds and utilize them according to your financial needs or goals.

With SBI Smart Scholar, you have full control over managing your funds based on your investment objectives and risk appetite. You can choose from various investment options available under this policy such as equity funds, debt funds, or balanced funds. This flexibility allows you to align your investments with market conditions and make informed decisions regarding asset allocation.

What is the process to verify the status of my SBI Smart Scholar policy?

1. Compose a new message on your mobile phone.

2. Type “POLSTATUS” followed by a space.

3. Enter your specific policy number after the space.

4. Send the message to either 56161 or 9250001848.

By following these steps, you will receive information about your SBI life insurance policy via SMS in English for India.