* SBI Life - RiNn Raksha will be referred to as RiNn Raksha hereafter.

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2 Need for Group Credit Life Insurance SBI Life Insurance Company Limited (SBI Life) offers SBI Life RiNn Raksha*, a feature-rich Group Credit Life Insurance product to pay off the outstanding loan offered by financial institutions or other groups or associations in the event of death or disability of the insured member(s) of the group. In the event of critical illness, it lightens the burden of loan repayment. We offer an excellent package to lighten the burden of debt in case of an unfortunate event of death, disability, critical illness or hospitalization due to accident. Why SBI Life as your preferred partner? SBI Life Insurance Company Limited is a joint venture between State Bank of India ( and BNP Paribas Cardif ( SBI Life is registered with an authorized capital of INR 2,000 Crores and a paid-up capital of INR 1,000 Crores. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%. SBI Life RiNn Raksha offers the following features A comprehensive benefit package that can be customized to cover your debts in case of death, disability or diseases. The death cover would be the outstanding loan balance at the time of death as per the amortization schedule at a rate of interest specified at the time of inception of cover. The outstanding loan balance at the beginning of the month would be the benefit payable for deaths during the month. Members would have an option to increase the cover up to a level of 120% of the loan at the inception of the cover. The financial institution may fund the premium by including the premium in the loan amount. 1 A moratorium period of 3 months to 6 years would be allowed during which period, the disbursements could be staggered. Additionally, the amount of cover can remain constant or increase according to the interest applicable. rd Flexibility to choose loan cover term as per need, subject to minimum of 2/3 of the loan term, if the loan term is 15 years or more. Flexibility to choose cover amount less than the loan outstanding at the time of availing the cover. Existing borrowers of the financial institution can also be covered for the outstanding period of the loan. Lives of upto 2 co-borrowers in addition to the primary borrower can also be covered. Co-borrower cover can take one of the following forms: v Each of the borrowers is insured for the entire outstanding loan amount. In case of death of any one of the borrowers, the outstanding loan amount is paid and the surviving borrower(s) would be eligible for the applicable surrender value. 1 If the accrued interest is paid separately by the member to the financial institution, then the loan outstanding and hence the sum assured would remain the same during the moratorium period and would start decreasing from the end of the moratorium period when EMIs would commence. If the accrued interest is to be added to the initial loan, then the loan outstanding and hence the sum assured would increase during the moratorium period and would start decreasing from that level from the end of the moratorium period when EMIs would commence. * SBI Life - RiNn Raksha will be referred to as RiNn Raksha hereafter. 2

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10 v Each of the borrowers is insured for their respective share of the loan. In case of death of any one of the borrowers, the cover would continue for the remaining member/s. There are flexible Premium Paying Terms (PPT) available. Premiums can be paid as a single premium (SP) or as level premiums (LP) payable for 5 or 10 years. The premium payment modes available as under: Premium Payment Mode Single Premium PPT 5 PPT 10 Policy Term 2 years to 30 years 8 years to 30 years 15 years to 30 years Premium may be paid in Yearly, Half-yearly, Quarterly or Monthly modes. Additional Options (Gold or Platinum) are available to cover loan outstanding at floating rate of interest at an additional cost. Riders are available at an additional cost. The product would also be customized in other circumstances, wherever it may be appropriate. There is no maturity benefit payable. Tax Benefits as per applicable tax laws. Eligibility Conditions For Death Benefit Minimum Maximum Age at entry (last birthday) 16 years 70 years Maturity age (last birthday) NA 75 years Group size during first year 20 members No limit Term 2 years 30 years Sum Assured per member INR 10,000 No Limit For Riders Minimum Maximum Age at entry (last birthday) 18 years 60 years Maturity age (last birthday) NA 65 years Term 3 years 10 years 3

11 Riders Depending upon needs, the following valuable covers can be easily added to the scheme or members' cover to ensure that the liability is paid-off in case of accident or disability. The premium rates for the riders are guaranteed for the term (maximum upto 10 years). Rider cover may be extended based on the terms available then. Accidental Total and Permanent Disability Benefit (UIN: 111B023V01): The outstanding loan amount i.e. Sum Assured applicable under the death benefit is paid if the life assured is totally and permanently disabled due to accident. No further benefits would be payable under the member's cover. Accident and Sickness Total and Permanent Disability Benefit (UIN: 111B022V01) The outstanding loan amount i.e. Sum Assured applicable under the death benefit is paid if the life assured is totally and permanently disabled due to accident, sickness or disease. No further benefits would be payable under the member's cover. 12 EMI Benefit on Critical Illness (UIN: 111B021V01): Sum Assured equal to 12 EMIs (Equated Monthly Installments) of the covered loan, upto a maximum of INR 12,00,000 is paid if the life assured is diagnosed with any of the six diseases mentioned below and surviving for 30 days from the date of diagnosis. The six diseases covered are Heart Attack (MI), Cancer, Stroke, Coronary artery by-pass graft surgery (CABG), Kidney failure, Major organ transplant. Accidental Hospital Cash Benefit (UIN: 111B024V01): Sum Assured equal to the Daily Hospitalization Cash Benefit (DHCB) level selected by the member at inception is payable from day one if the life assured is confined to hospital for more than 48 hrs as an in-patient as a result of accident. The benefit would be payable for up to a maximum of 30 days in a year. The various DHCB levels are: Levels I II III IV Floating Interest rate Options Limits INR 500 INR 750 INR 1,000 INR 1,500 Maximum 30 days per year For ICU: 150% DHCB would be applicable Accidental Total Permanent Disability Benefit (UIN: 111B023V01) and Accident and Sickness Total and Permanent Disability Benefit (UIN: 111NB02V01) cannot be availed at the same time. Details of other terms and conditions, definitions and applicable exclusions are included in rider document. There are two options available to cover the floating interest rates offered by the financial institution. They are as follows: Gold Option : Amount payable in the event of death or in the event of disability, if one of the disability riders is opted: The loan outstanding amount at the time of death calculated as given below (para 1. for General conditions for options) based on the floating interest rate offered by the lending institution. Platinum Option: Amount payable in the event of death or in the event of disability if one of the disability riders is opted: 4

12 The loan outstanding amount at the time of death calculated as given below (para 1 of 'General conditions for the options') based on the floating interest rate offered by the lending institution subject to a minimum of the outstanding amount as per the interest rate fixed at the time of inception of cover. General Conditions for the options : 1. When the interest rate changes, the amount payable would be recalculated according to the option (if) chosen. The loan outstanding would be estimated keeping the EMI same as at the time of inception and the original schedule would be revised based on the changed interest rate. However, if at any time the loan interest exceeds the EMI, as stated above, the loan amount payable on death would remain at same level as the loan amount in the previous period. 2. These options are available only if the cover term is 5 years or more. 3. Fluctuations up to +/- 600 basis points from the interest rate fixed at inception would be considered for calculation of the benefit. 4. Increase in loan outstanding due to EMI defaults would not be covered. 5. The cover would cease at the end of the term as decided at inception irrespective of the loan not being extinguished completely due to interest rate fluctuations. 6. If loan repayment is not monthly then same methodology would apply for other frequencies. 7. A history of interest rates will have to be provided for every claim. General Policy Provisions : Flexibility of Options : All product features under this plan shall be chosen by the Master Policy holder in his capacity as the group administrator. Only features chosen by the master policy holder shall be made available to the group members, based on eligiblity. A group member can choose from the options/features made available to him by the Master Policyholder. Grace Period: A grace period of 15 days from premium due date for monthly premium mode and 30 days from the premium due date for other modes is allowed. The grace period will also apply to the rider premiums. Nomination: Master policyholder would be required to seek nomination from the scheme members. However, as the insurance is taken to cover the outstanding loan, the claim would normally be paid to the master policyholder. The balance amount, if any, after complete discharge of the outstanding loan, will be paid by the financial institution/bank to the nominee or the estate of the insured member. In certain instances, depending on the nature of the scheme (if the master policyholder is not a regulated entity), the benefit will be directly paid to the nominee / estate of the insured member. Assignment: The benefits under this plan cannot be assigned. Lapse and Revival: For LP Policies if premiums are not paid within the grace period, the policy lapses. The policy can be revived within 2 years from the first unpaid premium payment due date subject to prevalent norms. Paid up : Paid-up value is available after payment of first year s premiums. In case of death of the life assured, the reduced sum assured would be payable. A paid-up policy may also be surrendered. 5

13 6 Surrender value: Surrender Value (SSV) may be available at any point of time after the first year of cover, provided at least the first year's premiums are paid. The surrender value payable is: [50% x Premium(s) paid] x [Unexpired Term/ Total Term] Free-look period: The policyholder and/ or the member (only in case of voluntary schemes) has the option to cancel the Policy within 30 days of receipt of the Policy / certificate of insurance after reviewing the terms and conditions. Premiums paid would be returned after deducting expenses incurred towards medical examinations carried out and expenses towards stamp duty. Termination: The insurance cover will automatically cease on the happening of the earliest of the following dates: v the date of termination of the cover at the behest of the member v the date on which the member reaches the maximum cover cease age v the date on which the claim is settled under the death or disability benefits v the date on which the free look request is received v the date on which surrender request is received v the date on which the policy term ends (as mentioned in the certificate of insurance) In case of termination of the master policy, the life cover for the existing members will continue till the end of the policy term, provided all due premiums are being paid; or until surrendered. Exclusions for the death benefit under the product If the life assured commits suicide whether sane or insane within one year from the date of commencement of insurance cover then the benefit will not be payable. Only 80% of premiums paid (net of taxes and cess) pertaining to the life assured concerned shall be refunded without interest. Premiums payable under riders and options are not refundable. If the life assured commits suicide whether sane or insane within one year from the date of revival of insurance cover then death benefit shall not be payable. Only surrender value, if any, will be payable. However, the higher of 80% of the premiums paid or the surrender value, if any, available on the date of suicide will be payable. Exclusions for rider benefits under the product Please refer to the 'Document of Rider Exclusions'. Waiting Period Death Benefit: A waiting period of up to 60 days may be imposed during which deaths only due to accidents would be covered. 12 EMI Benefit on Critical Illness: A waiting period of 90 days would be imposed. Right to change premium rates The company may change premium rate(s) if the risk profile or experience changes materially affecting the risk assumed while pricing. These new premium rate(s) will be applicable only for the new members. The new premium rates would be made available to the master policyholder with a notice period of 30 days before which the master policyholder has to decide accepting or rejecting the new rates. Please contact our insurance advisor for further details on riders, options and exclusions applicable for the riders. Please contact your tax advisor for any further queries on taxation implications.

14 Prohibition of Rebate Section 41 of the Insurance Act, 1938 (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. 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 clause Section 45 of the Insurance Act, 1938 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 calf two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal 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 statement 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 Policyholder 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. 7

15 Contact Us Today Call Toll Free SBI Life Insurance Co. Ltd. is a joint venture between State Bank of India and BNP Paribas Cardif. SMS - 'CELEBRATE' to info@sbilife.co.in SBI Life Insurance Co. Ltd. Corporate & Registered Office: Natraj, M.V. Road, & Western Express Highway Junction, Andheri (East), Mumbai IRDA Regn. No. 111 Insurance is the subject matter of solicitation. Follow us on: /sbilifeinsurance /sbilifeinsurance /sbilife