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SBI Life Investment Plans

SBI Life is one of the leading Life Insurance companies in India. It is a joint venture between India's largest bank - State Bank of India and the leading global insurance company BNP Paribas Cardif. SBI Life Insurance Company has excelled in presenting insurance and investment solutions all across India. There are several domains under SBI Insurance plans. SBI Insurance Company caters insurance plans like health insurance, motor insurance, life insurance, pension plans, child insurance, investments and financial savings plans.

SBI Life Insurance Company is offering a wide range of effective investment plans which can help you in getting desired protection and opportunities of wealth creation.

Here we are going to do a study on the four investment plans offered by the SBI Life Insurance company as per FY 2019-2020.

Description Of SBI Life Investment Plans

SBI Life Insurance company offers the best of the investment plans in the insurance market. Here are four of the investment plans offered by SBI Life Insurance company.

1. SBI Life Smart Platina Assure

SBI Life Smart Platina Assure is a non-linked and non-participating life insurance plan. It is also an endowment product. It assures you of guaranteed returns with an advantage of limited-term premium payment. The plan has been designed for an individual. Here are a few of the facts about the plan:


  • You get a guaranteed sum assured on maturity which is inclusive of accumulated guaranteed bonuses.
  • Death benefits are provided to the beneficiary. The sum assured provided under death benefits is higher of:
    • 10 times the annualized premium.
    • 105% of the total premiums paid till the date of death.
  • Tax benefits are provided on the paid premium under section 80C of the Income Tax Act, 1961.
  • The plan provides flexibility for premium payment. You can choose between monthly and yearly premium payment mode options as per your convenience.
  • The plan provides life coverage and also acts as an investment. This investment can help you meet up all your future goals.


Entry Age18 Years50 Years
Maturity AgeNot mentioned65 Year
Sum AssuredRs.3 lakhsNo limit
Policy Term12 Years & 15 Years
Annual PremiumRs.50,000 onwards

2. SBI Life Shubh Nivesh

Shubh Nivesh Planis an endowment plan being offered by SBI Life. It is one of the best plans in the investment market. It is a non-linked and participating plan. If you are an individual, it can surely serve your investment needs. You can get insurance cover, savings and income options under this single plan.


  • Shubh Nivesh is a whole life insurance plan.
  • It helps you build a financial corpus to fulfil all your dreams.
  • The benefits of this SBI Life saving plan are that it helps in wealth creation, financially secures your family and brings you normal inflow of income.
  • The plan brings to you rider benefits at affordable costs.
  • On maturation of the endowment plan, you can withdraw either
    • Accumulated bonuses, or
    • Full basic sum assured + accrued bonuses.
  • The riders available under the SBI Life saving plan to add on to the protection are:
    • SBI Life - Preferred Term Rider.
    • SBI Life - Accidental Death Benefit Rider.
    • SBI Life - Accidental Total and Permanent Disability Benefit Rider.


Entry Age18 YearsEndowment options:
Regular Premium: 55 years
Single-Premium: 60 years
Endowment with whole life option:
50 Years for both single and regular premium.
Maturity AgeNot mentioned65 Years
Sum AssuredRs.75,000No limit
Policy TermEndowment options:
Regular Premium: 10 years
Single-Premium: 5 years
Endowment with whole life option:
15 Years for both single and regular premium.
30 Years (Endowment Term)
Annual PremiumAnnual Pay: Rs.6,000
Single Pay: Rs.43,000

3. SBI Smart Bachat

Smart Bachat is a limited premium payment term endowment insurance plan. It is a non-linked and participating savings product. It has been designed for an individual. The plan allows you to choose from two options as per your need. The two options are:

Option A: Endowment Option.

Option B: Endowment Option with in-built accidental death & total and permanent disability benefit.


  • You get maturity benefits under both the options (in case of survival until the end of the policy term).
  • The maturity benefit in case of survival is equal to:

    Basic sum assured + vested simple reversionary bonuses + Terminal Bonus (if any)

  • Tax benefits are available under the SBI Life investment plan.
  • Premium waiver in case of accidental total and permanent disability is provided under the plan.
  • Offers the life cover for the entire policy term i.e. even after the end of the premium payment term.
  • Rebate is provided on the larger sum assured.


Entry AgeOption A: 6 years
Option B: 18 years
50 Years
Maturity AgeNot mentioned65 Years
Sum AssuredRs.1 lakhNo limit, subject to board approved underwriting policy
Policy Term12 to 25 years for premium payment term of 6 years
12 to 25 years for premium payment term of 7 years
15 to 25 years for premium payment term of 10 years
20 to 25 years for premium payment term of 15 years
Annual PremiumRs.5,100

4. SBI Life Smart Money Back Gold

SBI Life Smart Money Back Gold is a traditional coverage plan that pays a normal survival advantage. It also assures that the family of the insured is financially secure by paying out the overall sum assured along with the simple reversionary bonuses. The plan is non-linked and participating in nature. It is designed for an individual and acts as a protection cum investment plan.


  • The plan is reliable & provides you with security and flexibility.
  • You get regular cash flow at intervals and you can easily meet up all your financial obligations.
  • There are 3 money-back plan options to suit the needs of the insured.
  • This SBI Life saving plan additionally offers rebates on premium for a higher sum assured value.
  • You can enjoy tax benefits under the plan as per section 80C of the Income Tax Act, 1961.


Entry Age14 YearsRegular premium: 45 years
Limited premium & single premium: 55 years
Maturity AgeNot mentioned70 Years
Sum AssuredRs.2 lakhNo limit
Policy TermOption 1: 15 Years
Option 2: 20 Years
Option 3: 25 Years
Annual PremiumRegular premium and limited premium: Rs.9,500
Single premium: Rs.1,25,000

Importance Of SBI Life Investment Plans

SBI is an institution that represents the largest nationalised banking service in the country. Buying an investment plan under SBI is quite more secure in comparison to other insurance companies. Moreover, the savings & investment plans under SBI Life come with a greater number of options to choose from, whether it is the funds for investment, the sum assured, the premium payment terms, etc. Its other benefits include:-

  1. Financial Protection - Your short and long term goals such as child's marriage, education, etc can be fulfilled in a planned manner. SBI Life Insurance investment plans offer both protection and asset generation pathway to secure the future of the self and the loved ones.
  2. Good Returns - Returns on investment plans are usually better if you compare it to other investment options (especially in Unit-Linked Insurance Plans). SBI Life investment plans offer higher coverage at lower premiums.
  3. Riders Benefits - Rider benefits are available under SBI Life investment plans. You can add riders like critical illness rider, accidental death rider, a total and permanent disability rider to get extra cover.
  4. Discounts - You can get a discount for a higher sum assured and for on-time premium payment. The plans provide premium waiver off in case of the total and permanent disability in case of an accident. The survival benefits, death benefits and maturity benefits provided under the SBI investment plans are unbeatable.
  5. Affordable Premiums - The best part of SBI Life investment plans is that they provide a wide range of affordable plans to opt from.
  6. Tax Benefits - Savings plans allow the insured to claim tax benefits. You get tax exemption benefit for the premiums you pay under section 80C of the Income Tax Act, 1961. The amount you receive on the maturity of the policy is also tax-free under section 10 (10) D of the Income Tax Act, 1961.
  7. Loan - You can also avail a loan facility on the investment plan, in case you need money at a later stage. The rate of interest is subjected to terms and conditions mentioned in the policy documents.


Suicide is an exclusion to all the SBI Life Investment plans. Suicidal cases have different procedures for different plans. Policy buyers are requested to read the policy documents properly for exclusion.


Yes, you may need to serve lock-in-period for the liquidity of the amount. The lock-in period may vary with the plan and it is specified in the policy document.

The documents required to claim in the case of death of the insured life are:

  • A duly filled claim form.
  • Original copy of the policy received at the time of the issuance of the policy.
  • KYC of identity proof of the beneficiary mentioned in the policy document.
  • Original death certificate of the insured.

You can request the liquidity of maturity amount (both online and offline). Either, you can visit the official site of SBI Life Insurance and request for the claim after login into your account or you can also call the customer care representative and get proper guidelines about the procedure.

Last updated on 23-12-2020