1. SBI Life Money Back Plan
Get your Money Back
and still stay Insured

2. Competitive premium rates
SBI Life Money Back
4 options: 10 – 15 – 20 –25 years
4 riders: TA, CI, ADTPD, PWB.
Large choice of S.A. and Premium mode: Rs. 50,000 to Rs. 5 crore.
Attractive rebate for female
Competitive premium rates

3. Make the product simple for your customers…
Basic product: easy to understand, easy to sell
What about competition?
What about the 4 riders?
More details on SBI Life Money Back Plan

4. SBI Life Money Back Plan
Basic product, easy to understand, easy to sell .

5. SBI Life Money Back Plan
Option 1
10 years
Option 2
15 years
Option 3
20 years
Option 4
25 years
Min. Age at entry
15 years (father, mother or legal guardian is the proposer)
Max. Age at entry
60 years
55 years
50 years
45 years
Term
Max. Cover Age
70 years
Min. S.A.
Rs. 50,000 (multiple of Rs. 10,000)
Max. S.A.
Rs. 5 crore
Premium mode
Yearly / Half-Yearly / Quarterly
Monthly for standing Instruction on Credit Card/Bank account or SSS (minimum groupe size 30)
Rider options
Term assurance - Critical Illness
Death or TPD due to an Accident – Premium Waiver Benefit

6. SBI Life Money Back Plan
Survival Benefits:
More than Basic Sum Assured.
At regular intervals during the plan.
Last Survival Benefits with Vested Bonus calculated on Basic S.A. for entire term of the policy
Death benefits:
Sum Assured + Vested Bonus
Irrespective of Survival Benefit already received.

7. Increasing Survival Benefits
110%
+ VB
115%
+ VB
120%
+ VB
125%
+ VB

8. Illustration for Sum Assured Rs. 5 lac
+ VB
Rs lac
+ VB
Rs. 6 lac
+ VB
Rs lac
+ VB

9. Death Benefits Full Sum Assured + Vested Bonus
Irrespective of Survival Benefits already received
In case of suicide within the first policy year: Refund of basic premium (-) Commission paid (-) Adm. Expenses.

10. Gross Total Income (GTI)
Tax Advantages
At the entry: Tax rebate u/s 88 of I.T. Act
Available for Premium paid on Life Insurance policies with a maximum ceiling p.a. Rs. 70,000 / 20% Basic S.A. whichever is lower.
Policy can be in the name of the spouse, children (major or minor and Married daughter)
Rs. 21,000
30%
Not exceeding Rs. 1 lakh
(should not be less than 90% of GTI)
Gross Salary Income
NIL
More than Rs. 5 lakhs
Rs. 10,500
15%
1.5 lakhs – 5 lakhs
Rs. 14,000
20%
Upto Rs. 1.5 lakhs
Max Admissible Amount
Tax Rebate
Gross Total Income (GTI)
Tax Rebate Slabs

11. Tax-free maturity benefits along with life cover
Tax advantages
For survival benefits and claim amounts u/s 10 (10D) I.T. Act:
Maturity benefits are tax-free in the hands of the policyholder if, at any point of time during the policy life, premiums paid within one year does not exceed 20% of the basic Sum Assured.
Death benefits are always tax-free.
Tax-free maturity benefits along with life cover

12. Premium rebates For mode of payment For gender Yearly: 2%
Half-Yearly: 1%
Quarterly: no rebate
Monthly:
Standing Instruction on Credit Card/Bank account): extra charges +2%
Salary Savings Scheme (Min 30): no extra charges
For gender
5% discount for female
Premium tables provided are net of rebates for mode of payment & gender

13. Premium rebates For High value policy
Do not forget to deduct this High Value policy rebate from the premium tables

14. SBI Life Money Back Plan Option1: 10y term - SA: Rs. 3 lac
You pay 10 yearly premiums of:
You will get back: Rs. 3.3 lac + Vested Bonus
End of Year 8: Rs. 90,000
End of Year 9: Rs. 1,05,000
End of Year 10: Rs. 1,35,000 +VB (for 10 years on Rs. 3 lac)

15. SBI Life Money Back Plan Option2: 15y term - SA: Rs. 3 lac
You pay 15 yearly premiums of:
You will get back: Rs lac + Vested Bonus
End of Year 3: Rs. 30,000
End of Year 6: Rs. 45,000
End of Year 9: Rs. 60,000
End of Year 12: Rs. 75,000
End of Year 15: Rs. 1,35,000 + VB (for 15 years on Rs. 3 lac)

16. SBI Life Money Back Plan Option3: 20y term - SA: Rs. 3 lac
You pay 20 yearly premiums of:
You will get back: Rs. 3.6 lac + Vested Bonus
End of Year 4: Rs. 30,000
End of Year 8: Rs. 45,000
End of Year 12: Rs. 60,000
End of Year 16: Rs. 75,000
End of Year 20: Rs. 1,50,000 + VB (for 20 years on Rs. 3 lac)

17. SBI Life Money Back Plan Option4: 25y term - SA: Rs. 3 lac
You pay 25 yearly premiums of:
You will get back: Rs lac + Vested Bonus
End of Year 5: Rs. 30,000
End of Year 10: Rs. 45,000
End of Year 15: Rs. 60,000
End of Year 20: Rs. 75,000
End of Year 25: Rs. 1,65,000 + VB (for 25 years on Rs. 3 lac)

18. SBI Life Money Back Plan
Medical selection rules

19. Medical selection rules:
Basic Sum Assured +
Sum Assured for T.A. rider
1.5 time Sum Assured for C.I. rider
Sum Under Consideration for existing individual SBI Life policy =
Sum Under Consideration
Accidental rider and Premium Waiver Benefit riders
are not taken into accountfor calculation of Sum Under Consideration

20. Medical selection Based on Sum under consideration / Age
Basic Cover
Term Assurance
Critical Illness
Existing individual
SBI Life policies
Only medical questionnaire
for Sum under consideration upto
15 to 17
SA +
Not Available
Not Available +
Sum under Consideration
= Max Rs. 10 lakhs
18 to 35
Rider SA +
(Rider SA X 1.5) +
= Max Rs. 8 lakhs
36 to 45
= Max Rs. 5 lakhs
46 to 60
(N.A. after 55yrs)
= Max Rs. 1 lakh
Basic medical test, subject to requirement

21. SBI Life Money Back Plan
15 days Free Look Period
If a client is not satisfied with the features of the policy, he can return it within 15 days of the date of policy receipt
SBI Life will give him a complete refund after deducting Administrative Charges
(Stamp duty + Medical Expenses + Rs. 200/-)

22. How to sell SBI Life Money back plan?

23. Who are the Money Back customers?
Those who wants twin benefits of Life Insurance and cash inflow at regular intervals.
Those who are not interested in a lump sum at the end of the term but prefer to receive benefits during the term.
Those who want to approach every milestone in life with ease:
Marriage, child’s college admission, home, car, renovation of your apartment, holiday…
Those who want Guaranteed (no risk) tax-free survival benefits with tax-rebates u/s 88 of IT Act.

24. Plus of SBI Life Money Back
Flexibility:
Large choice of S.A.
From Rs. 50,000 upto Rs. 5 crore
4 options
10 – 15 – 20 and 25 years
Increasing Guaranteed Survival Benefits
10Y: 110% SA 15Y: 115% SA
20Y: 120% SA 25Y: 125% SA
4 Riders available
To design the policy according to your needs.
Affordable Money Back policy:
One of the lowest premium rate in the Market
Same premium amount for the entire duration
5% discount for female lives..

25. SBI Life Money Back Plan: commissions
Option 1:
1st year: 30 % P
2nd & 3rd year: 7.5% P
4th year onwards: 5% P
Option 2 / 3 / 4:
1st year: 40% P
2nd & 3rd year: 7.5% P
3rd year onwards: 5% P

26. SBI Life Money Back Plan
What about competition?
One of the lowest premium rates
Survival benefits 110% to 125% Basic S.A.
SBI Life name .

31. SBI Life Money Back Plan
What about the 4 riders? .

32. SBI Life Money Back Plan riders
Term Assurance (TA)
Accidental Death and TPD (ADTPD)
Premium Waiver Benefit (PWB)
Critical Illness (CI)

33. 4 Riders at a glance
* Minor is eligible to join the next policy anniversary following 18th year

34. SBI Life Money Back Plan
Term Assurance rider

35. Available at entry time only
Term Assurance Rider
Min. entry age: 18yrs
Max. entry age: as per Max. entry age of the option plan
Max. cover age: 65yrs
Duration: Min. 5yrs - Max.: Term Basic Plan / 65yrs
Min S.A.: Rs. 50,000 ( in multiple of Rs. 10,000)
Max S.A.: Basic SA / Max. Rs. 50 lac overall ceiling per Life Insured under all individual SBI Life policies.
Premium: Plan / Amount S.A.
Premium Payment Mode: As per Basic Plan
Available at entry time only

36. Term Assurance benefit
Death benefit:
Nominee will receive additional S.A. under this rider.
Survival benefit:
No survival benefit
Easy to understand

37. Term Assurance rider: low premium rate
Increases Insurance Cover at very nominal extra cost
An example:
30 years old man:
Extra premium
Rs. 351 per lac p.a. for Option1: 10 yrs term
Rs. 372 per lac p.a. for Option2: 15 yrs term
Rs. 404 per lac p.a. for Option3: 20 yrs term
Rs. 451 per lac p.a. for Option4: 25 yrs term H
Less than Rs a day for Rs. 1 lac extra death benefit

38. SBI Life Money Back plan
Death or Total Permanent Disability due to an accident

39. Accidental Death & TPD rider:
Min. entry age: 18 years
Max. entry age: As per Max. entry age on Option Plan
Min. cover age: 70 years
Duration: Min. 5 yrs / Max. Term of Basic Plan
Min S.A.: Rs. 50,000 ( multiple of Rs. 10,000)
Max S.A.: Upto basic S.A. subject to overall ceiling of Rs. 20 lakhs per Life insured under all individual SBI Life policies.
Premium Payment Mode: As per the basic cover
Double Cover:
Accidental Death or
Total Permanent Disability due to an accident
Available at entry time only - Minor can join policy anniversary following 18th

40. Accidental Death benefits
Nominee will receive:
Additional Sum Assured for Accidental cover
High Protection: Negligible cost - Rs. 1/- per ‘000 S.A. p.a.

41. Accidental Total Permanent Disability benefits
Policyholder will receive:
In Installments
Sum Assured for accidental benefit in 10 installments till maturity / death whichever is earlier.
At Maturity / Death
Balance of TPD claim installments if any will be paid in one lump sum to the policyholder/nominee.
Policyholder exits from all riders:
No other rider benefit will be paid
Policy continue for the Basic plan:
Regular premiums for basic plan have to be paid
Survival benefits will be paid as per the original schedule if policy is on force.

42. Extra premium per Rs. 1 lac of S.A. for Accidental rider
Mode of Payment
Regular Extra Premium for Accidental Death & Total Permanent Disability
Yearly Mode
Rs. 1/- per '000 S.A.
Half-Yearly Mode
Rs per '000 S.A.
Quarterly Mode
Rs per '000 SA
Monthly Mode
Rs per '000 S.A.
High protection, negligible cost

43. SBI Life Money Back Plan
Premium Waiver Benefit rider

44. Premium Waiver Benefit (PWB)
Min. Age: 18 years
Max. Age: Option1: 55yrs Option2: 50yrs Option3: 45yrs Option4: 40yrs
Max. cover age: 65 years
Duration: same as basic plan – should be co-terminus with basic cover
Premium: based on basic premium paid (inclusive of NSAP)
Availability:
- Basic S.A. with PWB rider under all individual SBI Life policies should not exceed Rs. 50 lac under one Life Insured.
- If Basic S.A. is higher, this rider is not available (ex SA Rs. 60 lac: PWB is not available; you should take Rs. 50 lac with PWB and Rs. 10 lac without PWB)

45. Premium Waiver Benefit (PWB)
On occurrence of an accidental Total & Permanent Disability:
Life Insured informs SBI Life in writing within maximum 120 days.
Regular Premium for Basic Cover will be waived.
Life Insured exits from all riders:
Survival Benefits
No survival benefit
Basic cover continues, Survival Benefits are payable
Regular premiums are waived

46. Extra premium for availing PWB rider
Extra Premium for Premium Waiver Benefit rider
for Basic premium of Rs. 100
Age 20 25 30 35 40 45 50 55
Option 1
0.56
0.61
0.73
1.13
1.88
3.38
5.66
8.87
Option 2
0.87
0.98
1.29
2.06
3.55
6.19
10.13
N.A
Option 3
1.16
1.41
1.99
3.31
9.58
N.A.
Option 4
1.53
1.98
2.99
4.98
8.37
Premium rate is applicable on the amount of Basic Premium with NSAP

47. How to calculate the extra premium for Premium Waiver Benefit rider?
Use Premium table for Premium Waiver benefit rider.
According to Option Plan and Age, find out the rate.
Apply this rate to the premium for Basic Cover (inclusive of NSAP, if any).
Ex. SBI Life Money Back Plan - Option 2 SA: Rs. 3 lakh Basic Yearly Premium for a 30 yrs old male: Rs. 24,552
Rate for WOP: 1.29
Extra premium: (1.29 * 24,552) / 100 = Rs. 317/-
For less than Rs. 1 a day, Basic premiums are waived
and you will continue to benefits from survival benefits with full protection for your family

48. SBI Life Money Back Plan
Critical Illness rider

49. Critical Illness Rider
Min. Age: 18 years
Max. Age: 55 years
Max. cover age: 60 years
Minimum duration: 5 years
Maximum duration: end of basic cover/60 years whichever is earlier
Min SA: Rs. 50,000 (x 10,000)
Max SA: Upto basic S.A. subject to overall ceiling Rs. 10 lakhs per life insured.
Premium: Gender, Age, Duration & amount of cover.
Premium rate:
valid only till March 2008
SBI Life reserves the right to revise the premium thereafter.

50. 6 Critical Illnesses covered
Available for:
Cancer (malignant) including leukaemia Coronary Artery Bypass Surgery
Heart Attack
Kidney Failure
Stroke
Major Organ Transplantation
Available at entry time only

51. Critical Illness benefits
Exclusion period: first 6 months of the policy /revival of the policy
When a critical illness is diagnosed:
Policyholder informs SBI Life within 30 days
S.A. under this rider is payable if the policyholder survives for more than 30 days.
No more benefits will be payable from any riders.
Policy still continues with periodical premium (-) extra premium for riders.
Survival benefit:
No survival benefit
No bill to submit: On diagnosis, S.A. for C.I. will be paid

52. Yearly Premium for Critical Illness rider
SA: Rs 1 lakh, 30 years old Life to be insured
MEN
5 years
10 years
15 years
20 years
25 years
6 C.I.
Rs. 154
Rs. 172
Rs. 252
Rs. 396
Rs. 578
WOMEN
5 years
10 years
15 years
20 years
25 years
6 C.I.
Rs. 133
Rs. 164
Rs. 206
Rs. 266
Rs. 339
Premium for this rider is eligible to tax exemption u/s 80 D of IT Act

53. SPECIFIC TAX ADVANTAGE u/s 80 D of I.T. Act
Premium paid for critical illness rider is deductible in respect of medical insurance premia from the annual income chargeable to tax up to a maximum amount of Rs. 10,000.

54. SBI Life Money Back Plan
More details on SBI Life Money Back Plan
What’s happen in case of unpaid premiums:
Grace period
Lapsation
Revival
Paid-Up Value
Surrender value
Guaranteed Surrender Value / Special Surrender Value
Back dating process
IRDA rules for extra premiums for riders

55. Payment of Regular Premiums
Premiums can be Q/ HY/ Y:
Grace period: 30 days
Premiums can be monthly:
Grace period: 15 days
Deduction of premiums then due and all premiums falling due during the policy year
If premium is not paid within the grace period: Policy lapses

56. Premiums are not paid for full 3 policy year
Revival up to 5 years
after the first unpaid premium 1
After the grace period: Policy lapses
No death benefit, no survival benefit

57. Revival is possible before the end of Year 7
Illustration 1
Money Back Plan for 30 year old man Option Y, Sum Assured: Rs. 10 lac, Yearly Premium: Rs. 50,120/-
3rd yearly premium is not paid within the grace period:
Policy ends immediately
No survival benefit
No death benefit
Revival is possible before the end of Year 7

58. 9th Yearly premium stays unpaid after 30 days
After the grace period, policy will go in Paid Up Value
Death benefit: Paid Up Value Amount
+ Vested Bonus till first unpaid premium 2
No further Money Back Payment, at the term of the policy: Paid Up Value Amount + VB till 1st unpaid premium
No more bonus – No more rider benefits

59. Illustration 9th yearly premium is not paid within the grace period:2
Money Back Plan for 30 year old man Option Y, Sum Assured: Rs. 10 lac, Yearly Premium: Rs. 50,120/-
9th yearly premium is not paid within the grace period:
Riders benefits end immediately
No more Money Back benefits
Year 25: Survival benefit in a lump sum:
Paid Up Value + Vested Bonus for 8 years (250*10,000,00)/1,000 = Rs. 2,50,000 + VB
In case of death before maturity:
Death benefit = Rs. 2,50,000 + VB

60. Consequences of lapsation
No claim will be admitted for rider benefit.
What about basic cover?
If lapsation happens during the first 3 policy year:
No death benefit
No survival benefit
If lapsation happens after this period
Paid Up value + Vested Bonus till first unpaid premium is payable:
In case of death before the term or,
At the end of the term to the policyholder

61. Revival policies are eligible to all vested bonus and Money Back
Revival process
Available within 5 years from the first unpaid premium:
Payments of arrears premium due with interest.
Submission of new medical questionnaire
Subject to new underwriting process
Cost of medical reports, if any,shall be borne by the Life Insured.
Exclusions period for basic cover and riders are applicable as on revival date.
Revival will be for basic cover along with riders, however, the Company may limit revival to basic cover.
Revival policies are eligible to all vested bonus and Money Back

62. Paid-Up Value Exists if at least 3 years’ premium have been paid.
Applicable in case, premium is not paid within the grace period.
Depend on the option and the policy year when first unpaid premium occurs.
Fluctuates according to the Survival Benefit payment.
Paid-Up Value + VB till first unpaid premium
is paid in case of death or at the term of the policy

63. Paid-Up Value per ‘000 Sum Assured
Illustration for Option 3, Sum assured Rs. 2 lac
First Unpaid premium Policy year 10:
Paid-Up Value:
(Rs. 2,00,000 * 210) /1,000 = Rs. 42,000

64. Surrender Value
Policy where premiums have been paid for at least 3 years can be surrendered:
Policyholder will get the greater of
Guaranteed Surrender Value or
Special Surrender Value
along with cash value of vested bonus

65. Guaranteed Surrender Value

66. Special Surrender Value
(Paid Up Value + VB)* Surrender Value factor
Surrender Value factor will be declared by the Company from 4th policy anniversary onwards

67. Money Back and Back Dating
Back dating date should be in the same F.Y.
Premium calculation is based on age at the back dating date (as on last birth day)
Back dating date =
Policy anniversary
Date of commencement of the risk
Exclusion period starts from date of acceptance
Premiums have to be paid with interest 1% p.m. (Back dating date (-) Date of acceptance
Propose Back dating only if your customer asks for it

68. Back dating: Illustration
Money Back Plan Option 2: S.A. Rs. 1 lac Male: DoB: 1st July 1970.
Date of Acceptance 1st January 2005 (35 yrs)
Yearly Premium at 35 years:
(Rs. 1,00,000 * ) / 1,000 = Rs. 8,446/-
Back Dating Date: 1st June 2004 (34 yrs)
Yearly premium at 34 years (age at back dating date):
(Rs. 1,00,000 * 84.30)/1,000 = Rs. 8,430/-
Interest: Rs. 8,430 * (7 months *1%) = Rs
1st Year Premium = 8, = = Rs. 9021/-
2nd years onwards: Rs. 8,430/-

69. I.R.D.A. Guideline for riders:
“The allowable rider or riders on the product shall be clearly spelt out with regard to their scope of benefits, and in no case, the premium relatable to all the riders put together shall exceed 30% of the premium of the main product”
Premium for Critical illness rider is not taken into account.
Applicable on extra premium for Term Assurance & Accidental rider.

70. Simple concept Basic Premium 2 If it is more than 30% 2 issues:11
If it is more than 30%
2 issues:
Increase the basic cover
Decrease the riders amount
Basic
Premium
Maximum amount: 30% of basic premium
Extra premium for
Term Assurance
Accidental cover
Waiver of Premium 2

71. Thank you