SBI Life – Retire Smart (UIN: 111L094V02) is an Individual, Unit Linked, Non-Participating, Pension Savings Product .

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

“This is a Pension Product. Benefits by way of surrender, complete withdrawal or maturity/vesting will be available in the form of annuities except to the extent of commutation of such benefits as allowed under the Applicable Regulations”

This unit linked pension product allows you to create a retirement fund for your golden years. Your premiums (net of charges) are invested in the market which builds your corpus through market-linked returns. This product also pays Guaranteed Additions (for policy term >=15) annually from the end of the 15th policy year. Moreover, a Terminal Addition is given on maturity or earlier death and minimum maturity benefit is guaranteed under the Advantage plan. Hence, SBI Life - Retire Smart is a smart retirement plan which helps you create an earmarked corpus for your post retirement income needs.

Benefits of SBI Life - Retire Smart

• Create a substantial retirement corpus for your golden years through Market-linked returns
• “Advantage Plan” guarantees a minimum of 101% of total premiums paid at Maturity/Vesting
• Get Guaranteed Additions of upto 210%* of the Annual Premium
• Earn a Terminal Addition of 1.5% of the Fund Value, at Maturity/Vesting or on earlier death
• Option to pay Single Premium, Regular premium or for a Limited period.
• Flexibility to Postpone your Vesting age using Deferment Option
• Receive annuity pay-outs from the accumulated corpus on vesting
• Choose to withdraw upto 60%of the fund value on maturity through commutation
• Enjoy tax benefits**

*This is applicable for in-force policies with policy term of 35 years under Regular / Limited Plan . For further information, please refer to section on Guaranteed Additions in the sales brochure.

** Note: Tax benefits as per prevailing norms under the Income Tax Act, 1961 are applicable in the product, where Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

SBI Life –Retire Smart helps you plan for your retirement smartly with market linked returns.

However, before buying the policy, you should know how much retirement corpus you may be able to accumulate for a premium amount. The retirement calculator comes in handy for this purpose as it lets you estimate the expected benefit that you would get upon the maturity of this product.

How does the retirement calculator work?

The retirement calculator takes into account various details. The details include your current age, gender, policy term for which you want to stay invested, premium payment frequency, premium payment term, premium amount that you wish to invest etc. These details help to calculate the expected maturity benefit of this smart pension plan as per your chosen tenure & the premium amount. You can, then, assess the sufficiency of the calculated corpus to increase or decrease the premium. The calculator is dynamic and works differently for different individuals. It is because different individuals have different age, investment tenure, premium paying capacity, etc. and each of these factors affect the maturity amount. Simply put, the corpus calculated would be different for a male who is in his 30s and for a male who is in his 40s.

Using a Retirement Calculator

Using the calculator, you can assess the sufficiency of the calculated corpus to increase or decrease the premium.

Steps for Retirement Corpus Calculation:

Step 1 – Provide your basic details which include your Date of Birth, Gender etc.

Step 2 – As per your suitability, provide details for subsequent fields like the policy term you wish to opt for, premium payment term you want to opt, premium payment frequency, premium amount etc.

Step 3 – Hit ‘Calculate’ to see the results

The expected Fund Value/Maturity Benefit would be shown for the policy details that you have entered. Ensure that you select and feed the required policy details correctly to check the corpus which you can create through this product. You can also increase or decrease the premium amount, or premium paying term till you have achieved the desired maturity benefit amount. This way you would know exactly how much premium you must pay and for how long to accumulate your desired retirement corpus.

Click here to Download SBI Life- Retire Smart (UIN 111L094V02) Brochure

Toll Free No. : 1800 267 1800 (Available from 8:30 am to 9:30 pm) | Visit us at: www.sbilife.co.in| E-mail: online.cell@sbilife.co.in |

Unit Linked Life Insurance products are different from the traditional insurance products and are subject to risk factors. The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.

SBI Life Insurance Company is the name of the Insurance Company and SBI Life –Retire Smart is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.

Please know the associated risks and applicable charges, from your insurance agent or the intermediary or the policy document from the insurer.

The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects or returns.

Past performance of the Fund Options is not indicative of future performance

All benefits payable under this policy are subject to tax laws and other fiscal enactments in-effect from time to time, please consult your tax advisor for details.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license. SBI Life Insurance Company Limited. Registered & Corporate Office: Natraj, M. V. Road, & Western Express Highway Junction, Andheri (East), Mumbai - 400 069. IRDAI Regd. No. 111.CIN: L99999MH2000PLC129113. Version Number :1H.Calc.ver.01-10-20 WEB ENG