SBI Life SCHOLAR

1. SBI Life SCHOLAR Save now for your child’s future education

2. MONEY BACK PERIOD REGULAR or SINGLE PREMIUM PERIOD SBILife SCHOLAR : Protect your child’s future I would like to be an architect Thanks to my parent’s foresight and SBI Life SCHOLAR I am an architect SCHOLAR IS BUILT AROUND YOUR CHILD’S AGE THE LIFE ASSURED IS THE PARENT THE SURVIVAL BENEFITS COME IN THE POCKET OF THE PARENT THUS, YOU MANAGE THE USE OF THIS MONEY…

3. SBI Life SCHOLARproduct features

4. A « Savings » period Regular premiums has to be paid (Y/HY/Q/) from the beginning of the policy till the child completes 18 years of age. Monthly mode is available for Standing Instruction and Credit Card (Master Card & Visa) only A Money Back period Flexible option: 4 annual instalments: 25% S.A. Lump Sum at present value at 18th Lump Sum at 21th At the top of the last instalment or lump sum: Minimum guaranteed bonus (Rs. 25 per 1000 SA per annum) more depending on the financial market SBILife SCHOLARHow SBILife Scholar works ? • Protection • For the full Sum Assured till the last instalment • Accident cover on option

5. SBILife SCHOLAR • Min Sum Assured : Rs. 50,000 (multiple of 10,000) • Max Sum Assured : Rs. 50 lacs. • Min Age of parent at entry : 20 yrs • Max Age of parent at entry: 60 yrs • Max Age of risk cover: 75 yrs • Min Age of child at entry : Birth • Max Age of child at entry : 15 yrs • Premium Ceases age of child : 18 yrs

6. Premiums Calculationare based on 4 factors • Age of the policy holder (parent, grand parent or legal guardian) • Age of the child • Sum Assured • Mode of payment : Y/HY/Q/M • Yearly premiums : 2% rebate • Half Yearly premiums : 1% rebate • Monthly premium: available for standing instruction on bank/credit Card (Visa & Masters) acccount only. 2% extra charges (3 months are to be paid in advance by cheque/draft)

7. With the last instalment : All declared bonuses are paid Life cover from Rs. 50,000 upto Rs. 50 lakhs, available upto the full term of the contract PROTECTION PERIOD * Investment period Income period Additional bonus will depend upon financial market monthly / quaterly / semi-annual / annual premiums Minimum guaranteed bonus Rs.25 per 1,000 per annum 0 18+ 19+ 20+ 21+ (anniversary of the policy) 0 to 18th years of age (last birthday) of the child 4 equal annual Survival Benefit instalments equivalent to 25% Sum Assured * Accidental cover on option

8. 10/09/2019 = 18 years 10/09/2020 = 19 years 10/09/2021 = 20 years 10/09/2022 = 21 years Policy Anniversary 01/02/2002 01/02/2022 01/02/2023 01/02/2020 01/02/2021 A case study Child date of birth: 10/09/2001 Date of commencement:01/02/2002 Date of which the first Survival Benefits Instalment is due : Policy anniversary on completing 18 years of age of the child : 01/02/2020 Age of the child

9. SBI Life SCHOLARLife cover : A triple benefit • In case of the unexpected happening of the policy holder at any time before the date of last Survival Benefit Instalment : • i) The nominee receives • Sum Assured + Vested Bonuses (suicide is not assured within the 1st year). • ii) No more periodical premium payable if any • All subsequent premiums due are waived • iii) Payment of Basic Sum Assured in instalments will continue to be paid • Payments will be received as per the original schedule • In case of death of the beneficiary child : • 2 options for the Life Assured • To receive the Survival Benefit Payments as per the original schedule • To surrender the policy and claim then the surrender value

10. 01/02/2022 SCHOLAR: A triple protection Unexpected event at any time till the receipt of the last instalment SCHOLAR: Rs. 10 lakhs Age: Father: 30, Child:0 • Nominee receives : Rs. 10 Lakhs(Rs. 20 Lakhs)*+ vested bonuses. • Balance premiums are waived if any: Rs. 56,840 p.a.(Rs. 57,840 p.a.)* • Payment will be received as per the original schedule: • 4 annual instalments of Rs. 2,5 Lakhs after your child completes 18 year of age 10/09/2021 = 20 years 10/09/2020 = 19 years 10/09/2022 = 21 years 10/09/2019 = 18 years 01/02/2002 01/02/2023 01/02/2021 * In case Accidental death and on payment on small extra premium Rs. 1 per 1,000 Sum Assured p.a.

11. SCHOLAR Medical selection rules

12. Medical selection Definition of Sum at risk: For regular premium mode = Basic Sum Assured x 1.5 Do not take into account Accidental rider Basic medical test, subject to requirement

13. Nominee receives : Rs. 10 Lakhs + vested bonuses. Balance premiums are waived Payment will be received as per the original schedule 10/09/2019 = 18 years 10/09/2020 = 19 years 10/09/2021 = 20 years 10/09/2022 = 21 years 10/09/2019 = 18 years 10/09/2020 = 19 years 10/09/2021 = 20 years 10/09/2022 = 21 years 01/02/2002 01/02/2022 01/02/2022 01/02/2023 01/02/2002 01/02/2020 01/02/2021 01/02/2020 01/02/2023 01/02/2021 An example for Life cover Sum Assured : Rs. 10 Lakhs Normal policy life Unexpected event the 3rd year

14. Optional Accidental Death &TPD cover • Extra premium Rs. 1 per 1,000 of SA under this rider per annum till 18 years of age of the child • Limitation aggregate amount Rs. 20 lakhs / Basic Sum Assured. • In case of Accidental Death • i) The nominee receives • Additional Sum Assured for accidental rider + Basic Sum Assured + vested bonus • ii) No more periodical premium payable if any • All subsequent premiums due are waived • iii) Payment of basic Sum Assured in instalments will continue to be paid to the nominee • Payments will be received as per the original schedule Click

15. Optional Accidental Death &TPD cover • In case of Total Permanent Disability on account of accident • i) The policy holder receives • 10 % of the sum assured under this rider each year till maturity/death (Maximum 10 Payments) • At maturity/death, the remaining instalments will be paid in one lumpsum. • ii) No more periodical premium payable if any • All subsequent premiums due are waived • iii) Payment of Survival Benefits will continue to be paid • Payments will be received as per the original schedule Click

16. TAX ADVANTAGES Tax Rebate U/s 88 Made Easy…………… ·Available for Premium Paid on Life Insurance Policies ·Policy can be in the name of Spouse or Children (Major or Minor & Married Daughters) ·Ceiling for Life Insurance Premium Paid: Rs.70,000

17. TAX ADVANTAGES • Maturity benefits are tax-free in the hands of the policyholder u/s 10 (10D) I.T. Act if, at any point of time during the policy life, premiums paid within one year does not exceed 20% of the basic Sum Assured. • Death benefit are tax-freein the hands of the nominee u/s 10 (10D) I.T. Act.

18. SBI Life SCHOLAR Surrender Value: 60 % of premium paid excluding the first year premium + cash value of existing vested bonus After 2 years premium paid if the child was in the group age (13 –15) at subscription After 3 years premium paid if the child was in the group age (0 – 12) at subscription + Cash Value of existing vested bonus

19. Payment of Regular Premiums • Premiums can be Q/ HY/ Y: • One month before, SBI Life will send a letter to remind due date & amount • Grace period: 30 days (death claim will bepaidafter deduction) • Premiums can be Monthly:(for Standing Instruction only on Bank/Credit Card account. 3 months are to be paid in advance by cheque/darft) • We plan to send a yearly statement to remind monthly due date and amount. • Grace period: 15 days (death claim will bepaidafter deduction)

20. SBI Life SCHOLAR 30 days Money BackGuarantee If a client is not satisfied with the features of the policy, he can return it within 30 days of the date of policy SBI Life will give him a complete refund

21. Some examples for Rs. 1 Lakh * Premium with accidental cover for Rs. 1 lakh

22. Age of the parent /guardian: 35 yrs Age of the child / ward: 5 yrs Sum assured: Rs. 100,000.00 Mode of payment: yearly Calculation process Use the tabular premium to find out the first figure : 84.00 Less premium rebate : 2% = 1.68 Annual premium (per 1000): 84.00 – 1.68 = 82.32 Annual premium for Rs. 100,000.00: 82.32 X 100 = Rs. 8232.00* with accidental cover : Add Rs. 1 to the annual premium (per 1000): 82.32 + 1 = 83.32 annual premium for Rs. 100,000 : 83.32 X 100 = Rs. 8332.00* * : the final premium should be rounded off the next higher rupee An illustrative example

23. Try by yourself … • Age of parent / guardian : 38 • Age of child / ward : 4 • Sum assured : Rs 130,000.00 • Mode of payment: half-yearly • With accidental premium Half-yearly premium : Rs. 5,149.00

24. Who is the Scholar’s customer? • People who have children • People who knows that education is the key of the success • People who wants to be peaceful

25. Difficult choice… • Mutual funds? • Banking product? • Insurance product?

26. SCHOLAR the good answer High level of protection Minimum guaranteed bonus upto the last instalment (21 years of age). Scholar is built around the child age. But when a parent has a child less than 5 years old, he will have to pay regular premium for a period of 12 years…. During this period of time, he can lose his job and not be abble to afford the premium for Scholar…. How to answer to this natural fear?

27. Don’t forget to speak about the 2 airbags of Scholar • Revival of the policy • Paid-Up value

28. Revival of the policy Possible within 5 years from the first unpaid premium: • Submission of a new Good Health declaration • Payments of arrears premiums with interest (PLR of SBI) • SBI Life reserves the right not to accept.

29. Policy shall not be wholly voidwhen premiums have been paid for: - 3 years: Policy Premium Payment term 6 years & + (child 0-12) - 1 year: Policy Premium Payment term 5 years & - (child 13- 15) Sum Assured shall be reduced in proportion of No. of Premium paid/ Total No. of Premiums. No participation in bonuses declared subsequently All riders ends immediately S.A: Rs. 5 lacs No. of premiums paid: 5 Years Total No. of premium: 10 Years New S.A = Rs. 5 lacs X 5/10 = Rs. 2.5 lacs New Instalments: 25% of New S.A. A scholar policy with lower Sum Assured and no more premium to pay Paid-Up Value

30. And don’t forget to speak about the bonus when the customer is not yet convinced • For a child of 1 years old, Rs. 5 lacks • Minimum Guaranteed bonus will accrued the last instalment of Rs. 2.5 lakhs!! Last instalment will be: Minimum Rs. 3.75 lakhs instead of Rs. 1.25 lakhs (+ 200% more!)

31. HOW TO SELL SCHOLAR? • Speak to a mother/father not to a policyholder. • Explain to him/her that: • Thanks to SCHOLAR, he/she will have the means to give the higher education to his/her child. • It’s the best gift he/she can offer to his/her child: He will never forget it whatever happens • He/she will help you sell SCHOLAR to his/her spouse

32. What a long way between…. and

33. Now, they are peaceful,In all cases, SCHOLAR will help them, to give the best education to their daughter

34. SCHOLAR • The best way to ensure your child’s future • Matures after he completes his 18 years of age. • Multiple maturity payment options: • 4 equal annual instalments • one lumpsum at policy anniversary which follows the 18 or 21 year of age • SCHOLAR policy: • A triple protection in case of death: • Sum Assured immediately paid for everyday needs • All further premiums are waived • The 4 annual payment will be paid as per the original schedule • Life cover for the full Sum Assured till the last instalment • Double accident cover on option. • Minimum guaranteed bonus (Rs. 25 /year/thousand SA) with the last payment and plus depending on the financial market

35. SCHOLAR SBI Life SCHOLAR: No 1 Compare, premium paid and payouts with high level of protection for you and your child’s future

36. Comparison Competitors premium for Rs. 1 Lakh. Yearly premium TPP = Total Premium Paid SBI Life SCHOLAR Protect your child’s future as well as your family

38. SCHOLAR vs SMART KID

40. SCHOLAR vs CHILD CARE PLANS (contd…….)

42. SCHOLAR vs KOTAK CHILD ADVANTAGE (contd…….)

44. SCHOLAR vs KOMAL JEEVAN (contd…….)

46. SCHOLAR vs JEEVAN CHHAYA (LIC) (contd…….)

50. Savings oriented SCHOLAR Protection oriented