SBI LIFE INSURANCE

State Bank of India (SBI) started its business way back in 1806 as Bank of Bengal. Today
SBI is the largest bank in the country with more than 9000 branches. It has seven
associate banks and together they have 30% of the Indian market share.

It has the distinction of being the strongest and amongst the most profitable bank in the
country. Networth of SBI as on March 2000 stood at Rs. 12146 crore (US$ 2784 mn) and
it has a deposit base of Rs 19,680.3 crore (US$45,121mm).

The insurance venture, SBI-Life, is a step aimed at being a universal bank as it already
has subsidiaries for housing finance, merchant banking, mutual funds and primary
dealership in government papers and factoring businesses.

Cardif

BNP Paribas, which is one among the three largest banks in Europe, is the holding
company of Cardif. BNP's presence in India dates as far back as 1860 and has 9 branches
here.

Cardif, the insurance arm of BNP Paribas was set up in 1973 that specializes in long-term
savings, protection products and creditor insurance. In 1999 its premium income stood at
US$ 4 billion, with assets worth over US $ 23 billion under its management

Cardiff based in France, has the expertise for selling insurance products through banks
and has operations in over 20 countries.

Joint Venture

India's largest bank SBI and Cardiff S.A a leading insurer in France came together to
form SBI Life. It would be a 74:26 venture; with Cardif the foreign partner contributing
26% in the paid capital of Rs. 250 crore.
SBI would market the insurance products through select branches of SBI and its seven
associate banks. Mr. R. Krishnamurthy is the CEO of SBI Life.

PLANS OFFERED BY SBI LIFE INSURANCE

• SBI UNIT PLUS CHILD PLAN

Introduction:
Life begins afresh when you become a parent and when the child takes that first step
towards you, the moment is filled with cheer, enthusiasm never felt before. This moment
marks a new beginning in the child’s life and there’s no looking back after that. The child
keeps growing and so are his dreams, aspirations which always aim to reach horizon and
you want your child achieve his/her dreams. But at the same time as a proud parent you
also want to secure their future against rising cost of education and other necessities.
We at SBI LIFE understand you better and hence have developed SBI Life - Unit Plus
Child Plan to suit you and your needs best. This Plan is meant for parents in the age
group of 18-57 having a child between the age group of 0-15 years.

Key Features:
• Market related returns to match increasing cost of education
• Peace of Mind by giving you triple benefits.
• Loyalty units to celebrate your child reaching 18 years.
• New Investment Fund (Equity Optimiser Fund) in addition to existing funds.
• Pay Premium for a limited period and reap benefits over a long time.
• Flexible plan which adapts to your changing needs as and when you want.

• UNIT PLUS II PENSION PLAN

Introduction:
We at SBI Life understand the basic needs for pension plan and give you financial
strength to maintain your life style even after the retirement. SBI Life - Unit Plus II
Pension plan makes sure that you have regular income after you retire and also helps you
to maintain your standard of living.
This is a unit linked pension plan wherein the policyholder chooses an investment period
from 5 to 52 years for a vesting age between 50 to 70 years. You can choose to pay either
single premium or pay regular premium for the entire policy term. Your contributions are
invested into 5 fund options as per your choice

Key Features:
• Choice to invest & control four different funds as per your risk appetite.
• Flexibility to choose between two options
Pure Pension
Pension cum Life Cover
• No medical required for Pure Pension, automatic acceptance facility.
• Flexibility to increase regular contribution.
• Top up payments: any amount, anytime.
• Customize your plan by adding riders.
• 15 days free look period.

Benefits:
Death Benefit: During accumulation phase
If you opt for option I : Pure Pension Plan
Fund value will be paid in lumpsum to nominee.
If you opt for option I : Pure Pension Plan with life cover
The higher of fund value or sum assured will be paid in lumpsum to nominee.
Guaranteed additions by way of free allocation of units to increase your retirement
kitty.
On Vesting:
It’s your income; you decide how it works for you. You have choice and flexibility.You
can take upto one third of the fund value in lumpsum. tax-free as per current tax law.
The tax free limit applicable for the commutated value may change as per change in
Income Tax rules

Who can buy this product?

If you are in the age group of 18 to 65 you can opt for SBI Life - Unit Plus II pension
plan without life cover. For Unit Plus II pension plan with life cover it should be between
18-60 years.

Guaranteed additions by way of free allocation of units:

The bonus units are rewarded for the policy term of 20 years and above, when no
premiums are due and the policy is in full force.

• UNIT PLUS II
Introduction:
It may be difficult to understand all your needs but as your preferred life insurance
company, SBI Life definitely understands all your financial & insurance needs. SBI Life -
Unit Plus II Plans are an attempt to meet all your financial & insurance needs through a
single non participating product. You can use it the way you like. What’s more you get
market linked returns which in the long term has always proved to give better returns
than traditional savings products.

Key Features:
• Unmatched Flexibility to match your changing requirement
• Choice of 5 investment funds: you can change the allocation percentage when you
want, 4 switches free per annum
• Choice of term : Limited term or whole life
• Attractive riders available

Benefits:
Maturity Benefit: At maturity, the Fund Value as on that date is paid in full.
 Death Benefit: In the unfortunate event of the death
Before or the age 7 years: Fund Value is payable to the nominee.
After attaining age 7 and before 65th birthday, the beneficiary will receive higher of
Fund Value or Sum Assured less Partial Withdrawals within the last 12 calender months.

If death occurs after age 65, the beneficiary will receive the higher of the Fund Value or
Sum Assured less all the Partial Withdrawals made in the last 12 calender months before
attaining the age of 65+ all withdrawals made after attaining the age of 65 will be set off
against the Sum Assured excluding partial withdrawals from Top Up Amount.

Tax Benefits
Tax benefit as per section 80C and 10(10D) of Income Tax Act.

What is the policy term?

Limited Term Whole Life Term
Minimum Years 5 years Life cover will be available till you attain 99 years of age.
Maximum Years 40 years

Who can buy this product?

If you are in good health and in the age group of 0 to 65 you can opt for these plans.

Riders available
SBI Life - Accidental Death and Total Permanent Disability Rider
SBI Life - Critical Illness Rider

• SBI LIFE MAHA ANAND

Introduction:
SBI Life - Maha Anand is a Simple & Convenient Unit linked plan, which provides you
insurance cover without any medicals!!!
Just answer a few health related questions & voila… you’re insured.

Key Features::

• Twin benefit of Market linked returns and insurance cover.

• Simple Joining Process - No medical examination required.
• Option to pay premium, as low as Rs 500 p.m.
• Choice of 3 fund options to choose from.
• Flexibility to increase your investments, through Top-up.
• Investment Flexibility through Switching and Redirection Options.
• Liquidity through partial withdrawal’s.
• Attractive Tax benefits under the Income Tax Act, 1961

• SCHOLAR II
Introduction:
As a caring parent you would always want your child to get the very best. Is there a
way to protect your children against life’s risks? Is there a way to make tomorrow safe for
them? Therefore this is the time when careful financial planning can help you fulfill the
aspirations that you have for your children’s.

We at SBI Life can help you ensure that your children’s future is secure and
prosperous.
SBI Life - Scholar II is designed to protect your child’s future educational needs.

Key Features:
• Twin benefit of saving for your child’s education and securing a bright future
despite the uncertainties of life.
• Full risk cover throughout the policy term irrespective of payment of survival
benefits installments.
• Option to receive the installments in lump sum at the due date of first
installment of Survival benefit.
• Attractive rider options
• Attractive rebate for Female lives and High Sum Assured.
• 15 days Free Look Period.

HIERARCHICAL STRUCTURE

HDFC SLIC

BRANCH MANAGER

SALES DEVELOPMENT MANAGER

FINANCIAL CONSULTANTS

SBI LIFE
 Manager

Chief marketing officer

Agency head

Regional head

Area marketing manager

Branch manager

Agency manager

Unit manager

Sales office