Review of SBI Life Saral Maha Anand Plan

What is SBI Life Saral Maha Anand?

SBI Life - Saral Maha Anand is a unit linked insurance cum savings plan. Getting a Life Insurance policy was never so easy. No medical examination is required for this plan. It allows you to enjoy the power of liquidity through partial withdrawals.

Key Features of SBI Life Saral Maha Anand

• No medical examination, Simple joining process.

• Liquidity through Partial Withdrawals.

• Guaranteed Additions of up to 30% of one annual premium, for a 20 year policy term, subject to the Policy being in force till the maturity date.

• No Premium Allocation Charge from 11th year onwards, thereby boosting your Fund Value

• Option to avail additional rider benefit under SBI Life - Accidental Death Benefit Linked Rider

• 4 Fund options, to enjoy market related returns as per your risk appetite.

• Twin Benefit of Market linked returns & insurance cover.

SBI Life Saral Maha Anand Scheme

Minimum Age at Entry	18 years
Maximum Age at Entry	55 years
Max. Age at Maturity	65 years
Policy Term	10 years / 15 years / 20 years
Minimum Premium Amounts (x100)	Yearly          : Rs. 15,000/- Half-yearly : Rs. 9,500/- Quarterly     : Rs. 5,500/- Monthly        : Rs. 2,000/-
Maximum Premium Amounts (x100)	Yearly           : Rs. 29,000/- Half-yearly   : Rs. 14,500/- Quarterly      : Rs. 7,200/- Monthly         : Rs. 2,400/-
Premium Modes	Yearly / Half-yearly / Quarterly / Monthly
Minimum	Age below 45 years :    10 × AP Age 45 years or above : 7 × AP
Maximum Sum Assured	20 × AP
Partial Withdrawals	Upto 15% of Fund Value can be withdrawn each year, from 6th year onwards, subject to conditions. One partial withdrawal is free in a policy year.
Tax Benefits	Under Sec. 80C and Sec. 10(10D) of Income Tax Act,1961

SBI Life Saral Maha Anand Scheme Benefits

• Maturity Benefit

On completion of Policy Term, Fund Value will be paid.

• Death Benefit

Higher of the Fund Value or Sum Assured is payable; with a minimum of 105% of total basic premiums paid till the time of death.

• Rider Benefits

Accidental Death Benefit Linked Rider: Provides additional death benefit if the death occurs as a result of an accident.

SBI Life Saral Maha Anand Charges

Following are the major charges involved in this product.

Premium Allocation Charges (as a percentage of Regular Premium)

Policy Year	Premium Allocation Charges
1	6.25%
2	3.75%
3	3.75%
4	3.75%
5	3.75%
6	3.00%
7	3.00%
8	3.00%
9	3.00%
10	3.00%
11	0.00%

Fund Management Charges

A certain fixed percentage of the relevant Fund before calculating the NAV on a daily basis will be charged as per the rates below:

Fund Name	Fund Management Charges
Index Fund	1.25%
Equity Fund	1.35%
Balanced Fund	1.25%
Bond Fund	1.00%

These charges may be increased within the maximum limit allowed with notice to the Policyholder and subject to IRDA approval.

Policy Administration Charges

Monthly Policy Administrative Charges are Rs. 33.33/- per month.

These charges will be deducted on the first business day of each Policy Month by way of cancelling appropriate number of units.

Mortality Charges

Mortality charges are deducted on the first business day of each Policy Month from Fund Value by way of cancellation of units. Mortality charges will be based on your age and Sum at Risk at the time of charge deduction.

Switching Charge

A charge of Rs. 100 is applicable for every Switch; in excess of two free Switches in the same Policy Year

Partial Withdrawal Charge:

A charge of Rs. 100 is applicable for every Partial Withdrawal in excess of one free Partial Withdrawal in same Policy Year.

Miscellaneous Charges:

For issuance of additional/ duplicate copy of yearly Fund statement an amount of Rs. 100 per statement will be charged.