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State Bank of India (SBI) Life Insurance - Individual Plans
Scholar II - Children Plan

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Insurance and Investment Plans - Scholar II Plan
SBI Scholar II Plan - A plan that can be taken as Child education / marriage with life insurance of parent.  Highly Recommended for every parent.
   
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.
Get the benefit of Sec80C of IT act on premium and save your income tax.
   
Product type:
  It is a traditional participating plan.
   
 

   
Guaranteed payment at regular intervals
 
Age Guaranteed Benefit Payment
18 years 25 % of Sum Assured
19 years 25 % of Sum Assured
20 years 25 % of Sum Assured
21 years 25 % of Sum Assured + Vested Bonus *
   
  Receiving the Survival Benefits in a single installment along with the Vested Bonus* (Policy terminates thereafter)
  * Vested bonus is the total amount of bonus accrued till date, under the policy.
   
Death Benefit
  :In the event of unfortunate incident of your early death during the term of the plan, your child’s future remains secured in 3 ways:
  Child future educational needs: 25% of Sum Assured is payable in 4 equal installments when the child attains the age 18 years to 21 years. This ensures the child's higher educational needs are met.
  Immediate Payment: The nominee receives the Sum Assured along with the bonus declared until that date.
  All future basic premiums need not be paid: Ensuring that your family is not financially burdened in your absence.
   
Who can buy this product? 
  Anyone between 18 to 60 years of age(as on last birthday) with a child between 0 to 15 years..
   
What is the policy term?
  The premium payment term depends on the age of the child and ends when the child attains the age 18 years. You are covered till the child attains the age 21 years.
   
Tax Benefits
  Tax benefit u/s 80 C and 10 (10 D) of IT Act*
   
What is the sum assured?
 
Minimum Maximum
Rs. 50,000 Rs. 1 Crore
   
 

   
  Last but not the least, you will get the seal of trust and loyalty from the most reputed name - State Bank of India.
   
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