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SBI Life introduces Smart Horizon ULIP with Automatic Asset Allocation
Raipur , January 13th, 2011: Strengthening its series of “Simple and Smart” products, SBI Life,
the leading new generation life insurer, has launched an innovative Unit Linked Insurance Product
(ULIP) - Smart Horizon. The investment-hassle-free product offers investors the opportunity
of long-term capital appreciation through exposure to the markets and investment expertise of
SBI Life.
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The uniqueness of the product stems from the proprietary Automatic Asset Allocation (AAA), an
algorithm-based active investment allocation mechanism. This IT – based system developed by
testing over 5000 potential scenarios in the Indian equity & bond markets, determines the optimal
risk – return combination. Higher exposure to equities for the initial years, followed by increasing
exposure to debt and money markets as the plan nears maturity. Thus, AAA mechanism ensures
better returns for investors, while protecting their capital.
Mr. M. N Rao, MD & CEO, SBI Life Insurance said “The unique Automatic Asset Allocation feature
makes Smart Horizon ideal for many evolving Indian investors who do have the time to make fund
allocation decisions on an on-going basis’.
To avail the benefit of Automatic Asset Allocation facility, the customer can choose either Plan A or
Plan B, depending on his risk appetite. Under Plan A, the equity exposure is higher as compared
to Plan B. The product also provides the flexibility to allow the customer to actively manage his
investment through a choice of four funds namely, Index, Equity, Balance and Bond Fund. This
option is possible under Plan C.
Flexibility to increase or decrease Sum Assured from 6th year onwards, switch and premium
redirection facility and a low premium allocation charge of 2% in first policy year are other attractive
features of Smart Horizon. Additionally, the wide range of riders including Criti Care 13, Accidental
Death Benefit, Premium Payor Waiver Benefit and Income Sustainers enable policy holder to
customize the product based on protection needs.
The company, now, has a strong bouquet of six ULIPs that cater to the long term wealth creation
needs of varied customer segments. The other market linked products are HNI-targeted Smart
Elite, NAV-Guaranteed Smart Performer, No Medicals ULIP – Saral MahaAnand, Flexible ULIP –
Unit Plus Super and Child Plan – Smart Scholar.
SBI Life Insurance Co. Ltd:
SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Assurance SBI
owns 74% of the total capital and BNP Paribas Assurance the remaining 26%. SBI Life Insurance
has an authorized capital of Rs. 2,000 crore and a paid up capital of Rs 1,000 crores. State Bank of
India enjoys the largest banking franchise in India.
Along with its 5 Associate Banks, State Bank Group has the unrivalled strength of over 16,000
branches across the country, arguably the largest in the world. BNP Paribas is the 1st largest
French company and ranks 5th in the banking industry worldwide, 1st bank in Euro Zone as per
Global 2000 Forbes’ 2008. It is 6th most valuable international banking brand as per Brand Finance
2008.
BNP Paribas Assurance is the insurance arm of BNP Paribas - Euro Zone’s leading Bank. BNP
Paribas, part of the worlds top 10 groups of banks by market value and part of Europe top 3
banking companies, is one of the oldest foreign banks with a presence in India dating back to
1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a
worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP
Paribas Assurance operates in 41 countries mainly through the bancassurance and partnership
model.
SBI Life Insurance’s mission is to emerge as the leading company offering a comprehensive range
of Life Insurance and pension products at competitive prices, ensuring high standards of customer
service and world class operating efficiency.
SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail
Agency, Institutional Alliances and Corporate Solutions distribution channels.
SBI Life extensively leverages the State Bank Group relationship as a platform for cross-selling
insurance products along with its numerous banking product packages such as housing loans and
personal loans. SBI’s access to over 100 million accounts across the country provides a vibrant
base for insurance penetration across every region and economic strata in the country, thus ensuring true financial inclusion. Agency Channel, comprising of the most productive force of
over 68,000 Insurance Advisors, offers door to door insurance solutions to customers.
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