Retire Smart vs Sbi Life Smart Shield Premier Life Insurance Plan 2026 | PolicyX
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SBI Life Retire Smart Plan is a unit-linked, non-participating pension plan that guarantees 101% of all premiums paid by the policyholder on maturity and protects your funds from market volatility. Along with life insurance cover, multiple fund options such as Equity Pension Fund, Bond Pension Fund, and more, can gradually add to the growth of your investment.

SBI Life Retire Smart Plan provides single, regular, and limited premium payment options, securing the golden years of a policyholder's life by creating a retirement corpus through systematic investments during their earning years.

Benefits of SBI Retire Smart Plan:

  • Guaranteed Additions
  • Terminal Additions
  • Flexibility
  • Tax Benefits
  • Advantage Option
  • Multiple Premium Payment Options
PLAN DETAILS

Retire Smart

Sbi Life Smart Shield Premier

Premium Including GST
Key Features
(Key features of the plan)
  • Protection After Retirement For A Better Tomorrow
  • Guaranteed Additions Available
  • Get Tax Benefits On Premiums Paid
  • High Life Cover Starting from ₹2 Crore
  • Level or Increasing Cover
  • Coverage Up to Age 85
Plan Maturity age Maximum Maturity Age - 80 years 85 years
Plan Sum Assured 5/8/10/15 years Limited pay, regular pay
Plan Entry Age Minimum Age - 30 years Maximum Age - 70 years 18 years-60 years
Plan Payment modes Rs 1 lakh to No limit 2 crores to no limit
Plan Policy loan Annual, half-yearly, quarterly & monthly Monthly, yearly, half-yearly
Plan Sample Premium - -
Plan Brochure Brochure URL Brochure URL
Policy Term 10, 15, 30 years 10 years- 85-entry age
Claim Settlement Ratio (2024-25) Minimum Age- 30 year 98.83%
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SBI Life Retire Smart Pension Plan

SBI Life Retire Smart Pension Plan

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* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above life insurance plans using the PolicyX Life Insurance Calculator.

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Benefits of the SBI Retire Smart Plan

There are various benefits to buying the SBI Retire Smart Plan. Let's understand each in detail:

  • Guaranteed Additions: Fund value improves through guaranteed additions of up to 210% of annual premiums. SBI Life Retire Smart provides guaranteed additions under which the insured will get a reward of up to 10% of the annual premium. These additions will start from the 16th policy year until vesting.
  • Terminal Additions: The insured will receive a terminal addition, where extra units are allocated to the fund. Typically, 1.5% of the premium paid is added to the fund value, providing financial assistance to the nominee in case of the insured's demise.
  • Tax Benefits: Premiums paid towards your policy are tax-deductible as per Section 80C, and benefits received under your plan may fall under Section 10(10A) and 10(10D).
  • Advantage Option: The plan guarantees a minimum of 105% of all premiums paid until the notification of the assured's death.

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Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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