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SBI Life Smart Platina Assure
SBI Life Smart Platina Assure is a non-linked and non-participating life endowment assurance savings product that offers guaranteed returns. The plan comes with the advantage of paying premiums for a limited tenure and offers security, flexibility, simplicity, and reliability.
Sample Illustration:
Sum Assured Chosen: Rs. 10 Lakhs
Age of the Policyholder: 30 years
| Plan Name | Policy Term | Premium | Maturity Benefit |
| SBI Life - Smart Platina Assure | 15 years | 1,20,000 | 15,62,400 |
**Last Updated on July, 2021
Key Features
- Financial Protection: The plan offers financial protection to your family in case of your demise.
- Guaranteed Additions: Under SBI Life Smart Platina Assure, you will receive guaranteed additions of 5.00% to 5.50% at the end of each policy year.
- Maturity Benefits: The plan will provide a guaranteed sum assured (at the time of maturity) in the form of maturity benefits.
Eligibility
| Entry age | 18 years to 50 years |
| Maturity age | 65 years |
| Annualized Premium | Rs. 50,000 to no limit |
| Policy tenure | 12 & 15 years |
**Last Updated on July, 2021
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SBI Life Shubh Nivesh
SBI Life Shubh Nivesh is an individual, non-linked, and participating life insurance savings product that offers insurance cover, income, and savings under a single insurance plan. The plan offers comprehensive coverage at an affordable cost with three rider options.
Sample Illustration:
Sum Assured Chosen: Rs. 10 Lakhs
Age of the Policyholder: 30 years
| Plan Name | Policy Term | Premium | Maturity Benefit |
| SBI Life - Shubh Nivesh | 20 years | 48,510 | At an assumed rate of returns
@ 4% 13,45,000 or
@ 8% 18,74,000 |
**Last Updated on July, 2021
Key Features
- Financial Security: The plan offers complete security to your family and empowers them to achieve their financial goals.
- Multiple Plan Options: It offers two plan options (endowment option & endowment with whole life option) to cater to different life insurance needs of the policyholder.
- Additional Basic Sum Assured: Under the endowment with the whole life option, the plan offers an additional basic sum assured in case of death of the policyholder (post maturity).
Eligibility
| Entry age | Minimum: 18 years
Maximum: Endowment Option:
Regular Premium: 55 Years
Single-Premium: 60 Years
Endowment with Whole Life Option:
50 Years (for both regular & single premium) |
| Maturity age | 65 years |
| Minimum sum assured (in multiples of 1,000) | Rs.75,000 |
| Policy tenure | 5 years to 30 years |
**Last Updated on July, 2021
*The values may change as per the chosen plan option
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SBI Life Smart Bachat
SBI Life Smart Bachat is an individual, non-linked, and participating life insurance savings plan with the limited premium payment term (LPPT) option. It provides required financial assistance to your family and loved ones in case of any emergency.
Sample Illustration:
Sum Assured Chosen: Rs. 10 Lakhs
Age of the Policyholder: 30 years
| Plan Name | Policy Term | Premium | Maturity Benefit |
| SBI Life - Smart Bachat | 20 years | 1,14,900 | At an assumed rate of returns
@ 4% 11,61,000 or
@ 8% 19,43,000 |
**Last Updated on July, 2021
Key Features
- Flexibility: The plan comes out with the flexibility of two different plan options:
- Option A: Endowment plan
- Option B: Endowment with in-built Accidental Death and Total Permanent Disability (AD & TPD benefit)
- Maturity Benefits: On survival till the end of the policy tenure, the policyholder will be liable to receive the basic sum assured + vested simple reversionary bonuses + terminal bonus (under both plan options).
- Tax Benefit: By investing in this insurance plan, the insured will be liable to receive tax benefits as per the prevailing tax laws.
Eligibility
| Entry age | Minimum:
Endowment Option: 6 Years
Endowment with AD & TPD: 18 years
Maximum: 50 years |
| Maximum maturity age | 65 years |
| Premium Frequency Loading | Half-Yearly: 51.00% of annualized premium
Quarterly: 26.00% of annualized premium
Monthly: 8.50% of annualized premium |
| Basic sum assured | Rs. 1,00,000 to no limit |
**Last Updated on July, 2021
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SBI Life Smart Humsafar
SBI Life Smart Humsafar is an individual, non-linked, and participating life insurance saving plan. It is a joint life insurance plan under which you can insure yourself and your spouse.
Sample Illustration:
Sum Assured Chosen: Rs. 10 Lakhs
Age of the Policyholder: 30 years
| Plan Name | Policy Term | Premium | Maturity Benefit |
| SBI Life - Smart Humsafar | 20 years | 52,800 | At an assumed rate of returns
@ 4% 13,59,950 or
@ 8% 19,20,000 |
**Last Updated on July, 2021
Key Features
- Guaranteed Bonus: The plan offers a guaranteed bonus (for active policies) of 2.50% of the basic sum assured for the initial 3 years.
- Financial Protection: The plan provides financial protection in case of the death of the policyholder. It also provides a maturity benefit on the survival of one or both assured members at the end of the policy tenure.
- Additional Riders: Along with the basic cover, the plan allows you to invest in additional riders by paying an additional premium.
Eligibility
| Entry age | 18 years to 46 years |
| Policy tenure | 10 years to 30 years |
| Maximum maturity age | 65 years |
| Sum assured | Rs. 1,00,000 to 5,00,00,000 |
**Last Updated on July, 2021
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SBI Life New Smart Samriddhi
SBI Life New Smart Samriddhi is a non-linked, non-participating protection cover that offers a financial cushion to your family in case of an unfortunate event and also rewards your saving habit with Guaranteed additions.
Sample Illustration:
Sum Assured Chosen: Rs. 5 Lakhs
Age of the Policyholder: 30 years
| Plan Name | Policy Term | Premium | Maturity Benefit |
| SBI Life - Smart Samriddhi | 15 years | 75,000 | Rs. 9,02,250 |
**Last Updated on July, 2021
Key Features
- Maturity Benefits: The plan pays 155% to 173% of the sum of annualized premiums as maturity benefit depending on age and chosen annualized premium.
- Death Benefit: In case of an unfortunate event of the policyholder's death during the policy term, the beneficiary will get the ‘Sum Assured on death' along with accrued guaranteed additions.
- Loan Facility: In case of an emergency, a policyholder may avail of the loan against their policy.
Eligibility
| Entry age | 18 years to 50 years |
| Policy tenure | 15 years |
| Maximum maturity age | 65 years |
| Sum assured | Minimum: Rs. 75,120 (based on min. premium)
Maximum:Rs 5,28,000 (based on maximum premium) |
**Last Updated on July, 2021
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SBI Life Smart Future Choices
SBI Life Smart Future Choice is an individual, non-linked, participating, life insurance savings product. It allows you to choose between different payout options as per your needs and helps you fulfil your short-term and long-term goals.
Sample Illustration:
Sum Assured Chosen: Rs. 10 Lakhs
Age of the Policyholder: 30 years
| Plan Name | Policy Term | Premium | Maturity Benefit |
| SBI Life- Smart Future Choices | 20 years | 1,27,000 | At an assumed rate of returns
@ 4% 11,84,333 or
@ 8% 12,68,191 |
**Last Updated on July, 2021
Key Features
- Flexibility: The plan comes with 2 benefit payout options with an option to change the same if required as per your changing needs. The two available options are Classic Choice & Flexi Choice.
- Maturity benefits: On maturity of the policy, the plan will pay maturity benefit differently under two options:
- Under Classic Choice: Guaranteed Sum Assured on Maturity + Accumulated Deferred Cash Bonuses if any + Terminal Bonus, if declared.
- Under Flexi Choice: Guaranteed Sum Assured on Maturity + Accumulated survival benefits if any + Accumulated Deferred Cash Bonus if any, + Terminal bonus if declared.
Eligibility
| Entry age | 18 years to 50 years |
| Policy tenure | Min.: 12 years
Max.: 30 years |
| Maximum maturity age | 70 years |
| Basic Sum assured | Minimum: Rs. 6,55,000
Maximum: No limit |
**Last Updated on July, 2021
I have been meaning to thank policyx for helping me with the claims process...They were diligent and made the process so smooth