Earn the Benefits of Regular Payouts Every year, for 15 years

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1 * Earn the Benefits of Regular Payouts Every year, for 15 years BEFORE YOU COMMIT YOUR HARD-EARNED MONEY» Analyse your Insurance and Investment needs» Understand the product in detail» Know the tenure of Renewal Premium payments

2 Every individual wishes to secure his future when the times are good. In this uncertain world you would like to save for rainy days in future, from what you earn today. One must be financially prepared and secure their family s future. What you need is adequate money readily available at regular intervals, as and when you need it the most along with life insurance cover to prepare for these special requirements of life. * Introducing SBI Life - Smart Income Protect, a smooth way to plan for your future. About SBI Life-Smart Income Protect Smart Income Protect is a Savings Plan with added advantage of Life Cover and Regular Cash Inflow at the time you need. It is a Participating Traditional Plan where you continue to pay your Regular Premiums over a period of 5, # 10 or 15 years. Thereafter your Payout Period starts, where you get Guaranteed Regular Annual Payouts (conditions apply) over a period of 15 years, meeting your various financial obligations. Key Highlights Plan that provides Insurance Cover and Regular Income Choose your Policy Term from 5, 10 or 15 years Premium Paying Term will be same as Policy Term chosen by you # Guaranteed Annual Payouts (conditions apply) of 11% of Sum Assured/Paid up Sum Assured over a period of 15 years after Maturity Vested Reversionary Bonuses plus Terminal Bonus, if any, will be paid as lump sum at the end of the Policy Term, at Maturity Customize your coverage through a wide range of additional Rider Benefits # Provided at Maturity, the policy is in force or paid up * SBI Life-Smart Income Protect would be referred to as Smart Income Protect here-after 02

3 How does Smart Income Protect Plan work? Mr. Joshi who is 35 years old healthy male, decided to buy Smart Income Protect, with 15 years as Policy Term, for a Sum Assured of `10, 00,000. He pays a yearly premium of `76,270 (exclusive of service tax) during the Policy Term. He will receive yearly payouts equal to 11% of Basic Sum Assured, i.e. `1, 10,000 p.a. for next 15 years after Maturity. `76,270 p.a. for 15 years At the end of Policy Term: Vested Reversionary Bonus plus Terminal Bonus, if any, as lump sum Mr. Joshi gets `1,10,000 p.a. for next 15 years Policy Term: 15 years Payout Period: 15 years Key Benefits available under the plan: Maturity Benefit Smart Income Protect offers you the following benefits: Maturity Benefit as lump sum You get Vested Reversionary Bonuses Plus Terminal Bonus, if any, at Maturity. Maturity Benefit in installments You will be paid yearly payouts equal to 11% of Basic Sum Assured for next 15 years after Maturity. This period of 15 years is your Payout Period. The first instalment will be paid at the end of first year during the Payout Period. In case of death during the Payout Period, all future payouts will be paid in lump sum to the Nominee or legal heir. Death Benefit In the unfortunate event of death during the Policy Term, your Nominee will receive Basic Sum Assured plus Vested Reversionary Bonuses plus Terminal Bonus, if any. In case of death during the Payout Period, all future payouts will be paid to the Nominee or legal heir in lump sum immediately. Bonus under the plan You will receive the Vested Reversionary Bonuses plus Terminal Bonus, if any, on Survival at the end of the Policy Term. 03

4 Vested Simple Reversionary Bonus is the total amount of bonus accrued under the policy during the Policy Term. The bonus will apply to the Basic Sum Assured. Terminal Bonus (if any) will also be paid on death or surrender during the Policy Term or at Maturity. Eligibility Age** at Entry Min.: 8 years Max.: 60 years Age** at Maturity Min.: 18 years Max: 65 years Sum Assured `1,00,000 ( 1,000/-) Max: No Limit Policy Term Premium Frequency Premium Frequency Loading Payout Period Payout Frequency 5/10/15 years Yearly / Half - yearly / Quarterly / Monthly# Half-Yearly: 52% of Annual Premium Quarterly: 26.5% of Annual Premium Monthly: 8.9% of Annual Premium 15 years Yearly **All the references to age are age as on last birthday. # 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card) 04

5 Additional Protection for you You have the option of availing the following Riders for complete protection at an affordable cost. Riders can be availed of at the inception of policy only. More than one rider can be selected. The rider Sum Assured cannot be more than the basic Sum Assured. Rider term will be equal to the base policy term. Riders Sum Assured Entry Age Maximum Maturity Age SBI Life - Accidental Death Benefit (ADB) Rider (UIN: 111B015V01): In case of death due to an accident, Rider Sum Assured becomes payable in addition to the Basic Sum Assured. `25,000 Max: `50,00,000* 18 years Max: 60 years 65 years SBI Life - Accidental Total & Permanent Disability (ATPD) Benefit Rider (UIN: 111B016V01): Accidents are unpredictable. They may lead to total and permanent disability and this rider provides protection against such disabilities. `.25,000 Max: `.50,00,000* Mini: 18 years Max: 60 years 65 years SBI Life - Criti Care 13 Non - Linked Rider (UIN: 111B025V01) The Rider Sum Assured would be payable on the Life Assured being diagnosed with any of the 13 diseases mentioned below and surviving for 30 days from the date of diagnosis. The 13 Critical Illnesses are: Cancer, Coronary artery by-pass graft surgery (CABG), Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease, Multiple Sclerosis. `25,000 Max: `20,00,000* 18 years Max: 55 years 64 years SBI Life - Preferred Term Rider (UIN: 111B014V01): In the unfortunate event of death, the Rider Sum Assured becomes payable in addition to the Basic Sum Assured `25,000 Max : `50,00,000* 18 years Max: 60 years 65 years * Maximum aggregate Sum Assured under all individual policies taken with SBI Life. In the unfortunate event of Accidental Total & Permanent Disability Rider or Criti Care 13 Non - Linked Rider, the Sum Assured is paid but the policy and other benefits continue. On payment of premiums, other riders and covers continue till the end of the policy term chosen by the policyholder. Riders may be cancelled on any Policy Anniversary with 2 months advance written notice. For further details on SBI Life - Criti Care 13 Non - Linked Rider, please refer the Rider Brochure. 05

6 Other Benefits Paid Up Value The policy acquires Paid-Up Value and / or Surrender Value only if at least two year s premiums have been paid. The Sum Assured of paid up policies will be reduced in the same proportion as the ratio of the number of premiums paid to the total number of premiums actually payable as per the term chosen at inception of the policy. The Sum Assured so reduced will be called the Paid - up Sum Assured. A Paid-Up policy would not participate in any subsequent distribution of profits. However, on Revival, full bonuses applicable for the period of lapse would also get attached. Maturity Benefit under a Paid-Up Policy: Vested reversionary bonuses and terminal bonus, if any, will be paid at the end of the policy term. 11% of the paid-up sum assured will be paid at the end of each year during the payout period. The first instalment will be paid at the end of first year during the payout period. In case of death during the payout period, all future payouts will be paid to the nominee or legal heir in lump sum immediately. In case Paid-Up Policies where each Maturity Benefit installment is less than `.1000, all future payouts will be paid in lump sum immediately. Death Benefit under a Paid-Up Policy: On death during the policy term, Paid-up Sum Assured plus Vested Reversionary Bonuses and Terminal Bonus, if any will be paid to the Nominee or legal heir. Surrender Value Complying with Section 113 of the Insurance Act, 1938, policy will have Guaranteed Surrender Value (GSV) which will be equal to 30% of all premiums paid excluding first-year premiums, rider premiums and extra premiums, if any. Cash value of allocated bonus, if any, will also be added. The Non-Guaranteed (Special) Surrender Value (SSV) will be based on assessment on past financial and demographic experience of the product / group of similar products and likely future experience and will be reviewed from time to time depending on changes in internal and external experience and likely future experience. On surrender, the higher of the Non - Guaranteed SSV and the GSV will be paid. No surrender value is payable on the riders. Paid Up Value Surrender Value Death Benefit Maturity Benefit Policy Loans 06

7 Policy Loans No loan facility is available under this product. Rebates Rebates on Large Sum Assured are available on the basic premium based on the following slabs: Sum Assured (`) 1 Lac = < Sum Assured < 2 Lac Nil 2 Lac = < Sum Assured < 5 Lac ` 3.50 Sum Assured = > 5 Lac ` 5.50 Rebate on Regular Annual Premium for Sum Assured of ` 1,000. Grace Period and Revival Facility We offer you 30 days grace period from the premium due date for yearly/half yearly / quarterly premium and 15 days for monthly premium. The policy will remain in force during grace period and will lapse if no premium is paid. A lapsed policy may be revived within 3 years from the date of the first unpaid premium subject to satisfactory proof of insurability as required by the Company from time to time. Participation in profits The policy shall participate in the profits arising out of the Company s With Profits Life Insurance business. It gets a share of the profits emerging from this business in the form of Bonuses. Simple Reversionary Bonuses would be declared as a percentage rate, which apply to the Basic Sum Assured in respect Basic Policy Benefit (not of Riders). Reversionary Bonus is declared based on our long term view of investment returns, expenses, mortality and other experience. Once declared, the Reversionary Bonuses form a part of the Guaranteed Benefits of the plan. Future Bonuses are however not guaranteed and will depend on future profits. A Terminal Bonus, if any, may also be paid at Maturity earlier death or surrender. Nomination & Assignment Provided the policyholder is the Life Assured, he / she may, at any time before the policy matures for payment, nominate a person or persons as per Sec 39 of the Insurance Act 1938, to receive the policy benefits in the event of his / her death. The Policyholder can also assign the policy to a party by filing a written notice to us. Only the entire policy can be assigned and not individual benefits or any part thereof. 07

8 Free Look Period You have the option to review the terms and conditions of policy within 15 days of receipt for policies sourced through any channel mode other than Distance Marketing and 30 days for policies sourced through Distance Marketing. In case you disagree with the terms and conditions, you can return the policy stating the reason for objection. Premiums paid by you will be refunded after deducting stamp duty and cost of medical expenses incurred. The proportionate risk premium for the period of cover will also be deducted. Tax Benefits* U/s 80C of the Income Tax Act 1961 on your premiums. U/s 10(10D) of the Income Tax Act 1961 on your maturity / death proceeds under the policy. U/s 80D, for your premiums paid for Criti Care 13 Non Linked Rider. *Tax provisions will be applicable as per the current tax laws. This will be subject to change based on change in tax laws. Please consult your Tax Advisor for details. Tax deduction under Section 80C is available. However in case the premium exceeds 10% of the Sum Assured, the benefit will be limited upto 10% of the Sum Assured. Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the Sum Assured in any of the years during the term of the policy Tax benefits, are as per the Income Tax laws & is subject to change from time to time. Please consult your tax advisor for details. Exclusions No benefit will be payable in respect of any condition arising directly or indirectly from, through or in consequence of the following exclusions and restrictions: Basic Policy Suicide Exclusion If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of issue of this policy, the policy will become null and void. No benefit will be paid under such circumstances except on an ex-gratia basis at the discretion of the Company. If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of any revival/reinstatement of this policy, only surrender value, if any, will be payable. 08

9 SBI Life- Preferred Term Rider Suicide Exclusion If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of issue of this policy or the date of any revival/reinstatement of this policy, the policy will become null and void. No benefit will be paid under such circumstances except on an ex-gratia basis at the discretion of the Company. SBI Life- Accidental Death Benefit (ADB) Rider and SBI Life- Accidental Total & Permanent Disability (ATPD) Benefit Rider Death under ADB rider and Disability under ATPD rider arising from or due to the consequences of or occurring during the events as specified below is not covered: Infection: Death or Disability caused or contributed to by any infection, except infection caused by an external visible wound accidentally sustained Drug Abuse: Life assured under the influence of Alcohol or solvent abuse or use of drugs except under the direction of a registered medical practitioner Self-inflicted Injury: Intentional self - Inflicted injury Criminal acts: Life assured involvement in Criminal and/or unlawful acts War and Civil Commotion: War, invasion, hostilities, (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion Nuclear Contamination: The radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature Aviation: Life assured participation in any flying activity, other than as a passenger in a commercially licensed aircraft Hazardous sports and pastimes: Taking part or practicing for any hazardous hobby, pursuit or any race not previously declared and accepted by the Company Physical Infirmity: Body or mental infirmity or any disease SBI Life- Criti Care 13 Non - Linked Rider Diseases in the presence of an HIV infection Diseases that have previously occurred in the life insured (i.e. the benefit is payable only if the disease is a first incidence, regardless of whether the earlier incidence occurred before the individual was covered or whether the insured was covered by the Company or another insurer) 09

10 Any disease occurring within 90 days of the start of coverage (i.e. during the waiting period) A 30 days survival period will be applicable between the diagnosis of a critical illness and eligibility for critical illness benefit payment No payment will be made by the Company for any claim directly or indirectly caused by, based on, arising out of, or howsoever, to any Critical Illness for which care, treatment, or advice was recommended by or received from a Physician, or which first manifested itself or was contracted before the start of the Policy Period, or for which a claim has or could have been made under any earlier policy Any congenital condition Intentional self-inflicted injury, attempted suicide, while sane or insane Alcohol or Solvent abuse or taking of Drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner Failure to seek or follow medical advice War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes. Taking part in any naval, military or air force operation during peace time Participation by the insured person in any flying activity, except as a bona fide, fare-paying passenger of a recognized airline on regular routes and on a scheduled timetable Participation by the insured person in a criminal or unlawful act with criminal/unlawful intent Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee-jumping Nuclear Contamination; the radio active, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature Prohibition of Rebates: Section 41 of Insurance Act 1938 states: 1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer: 10

11 Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer. 2. Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees. Non-Disclosure: Section 45 of Insurance Act, 1938 states: No policy of life insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no policy of life insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statements was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policy-holder and that the policy holder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the proposal. Note: This document does not purport to contain all conditions governing this product. The contract will be governed by the terms expressed in the policy document. 11

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