Shubh Nivesh Plan
  • Explore SBI Life Shubh Nivesh
  • Understand the Key Features
  • Check the Eligibility Criteria
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SBI Shubh Nivesh

A penny saved is a penny earned. Save your money with SBI Life Shubh Nivesh Plan and meet your long-term financial goals.

SBI Life Shubh Nivesh is a non-linked, participating, and individual life insurance policy that offers Triple Benefits to the policyholders. The plan comes with multiple benefits where one can get whole life insurance coverage, savings, and regular income under a single plan.

The plan comes with amazing features that add greater flexibility to the plan. Furthermore, this traditional investment plan acts as a good tool to meet your long-term financial goals by providing the option of regular payouts and building a huge corpus as a lump sum amount at the time of maturity.

Key Features Of SBI Life Shubh Nivesh Plan

  1. Corpus Building

    The plan provides the option of an annuity plan that assists in building a huge corpus through wealth creation along with a regular flow of income.

  2. Assured Returns

    SBI Life Shubh Nivesh guarantees returns on the sum insured along with interest and bonus after maturity.

  3. Flexibility

    The plan allows you to choose your preferred premium paying option as Single or Regular premium payment.

  4. Policy Loan Facility

    If you need financial support in case of any emergency, the plan will allow you to avail of a loan equivalent to 90% of the surrender value.

  5. Discounts

    One can avail of discounts on large Sum Assured under the following slabs.

    Basic Sum Assured (Rs.) Discount on premium per thousand Basic Sum Assured
    Regular Premium (p.a.) Single-Premium
    0.75 Lakhs to < 1.5 Lakhs NIL NIL
    1.5 Lakhs to < 3 Lakhs Rs. 2.25 Rs. 4.50
    3 Lakhs to 6 Lakhs Rs. 4.50 Rs. 9.00
    6 Lakhs and above Rs. 6.00 Rs. 12.00

    **Last Updated on July, 2021

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How does the SBI Shubh Nivesh Plan work?

Below we have elaborately explained the working of a SBI Shubh NIvesh Plan. Take a look and understand how the plan will help you to build a financial corpus.

An applicant can choose between an endowment plan or an endowment with whole-life insurance depending on his or her preferences. In addition, he or she can pick between regular or single premium payment frequencies for a policy duration ranging from 5 to 30 years. One can then avail a maturity benefit at the end of the policy's duration. This benefit can be paid the below-mentioned ways:

  • A lump sum payment that comprises the base cash guaranteed as well as any earned bonuses.
  • Regular monthly payouts or deferred payouts, that includes the due collected bonus once the policy tenure is completed, & the sum guaranteed is payable over a deferred payout period of 5 years, 10 years, 15 years, or 20 years.

Plan Options Available Under SBI Life Shubh Nivesh

The plan offers two plan options that are:

  • Endowment Option: A traditional savings plan that offers both death & maturity benefits.
  • Endowment with Whole Life Option: With this plan option, one can avail of all the benefits of an endowment plan along with the option to extend their coverage for the whole life (or for 100 years).

What Are The Benefits Of SBI Life Shubh Nivesh?

  1. Maturity Benefit

    Endowment Option

    • On completion of the endowment term, the SBI Life Shubh Nivesh plan will pay Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, while the policy is in force.
    • Option of Deferred Maturity Payment can be chosen under the plan after the endowment term ends.

    Endowment With Whole Life Option

    • The plan will pay the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus on completion of the endowment term if any will be paid, while the policy is in force.
    • Basic sum assured benefit shall be payable if the policyholder turns 100 years of age.
    • Option of Deferred Maturity Payment can be chosen under the plan after the endowment term ends.
  2. Death Benefit

    Endowment Option

    If the life insured dies before the endowment term ends:

    • In the case of regular premium policies, an amount higher of sum assured along with vested Simple Reversionary Bonuses and terminal bonus or 105% of all the paid premiums till death is provided.
    • In the case of single premium policies, the sum assured on death along with vested Simple Reversionary Bonuses and the terminal bonus is paid.

    Endowment With Whole Life Option

    • On the death of the policyholder before the end of the endowment term, the sum assured with additional bonuses as declared by the company will be paid to the beneficiary.
    • On death after the endowment term is completed and till 100 years of age, the benefit of the basic sum assured is payable to the beneficiary of the policy.
  3. Grace Period

    The grace period for the SBI Life Shubh Nivesh plan is 15 days for the monthly premium payment mode and 30 days for other modes. If the policyholder does not pay the premiums within the grace period, then it leads to policy lapse.

  4. Participation in Profits

    The policy participates in profits that may be declared by the company from time to time. Simple reversionary bonuses will be paid based on the company's profits that solely depend on expenses, long-term view of investment returns, mortality, and other experiences.

    A terminal bonus is also declared on the maturation date of the policy, before death or surrender. This plan is participating only during the endowment term and not thereafter.

  5. Tax Benefits

    You can claim a deduction of Rs 1.5 lakhs on your total income under section 80C of the Income Tax Act, 1961.

Eligibility Criteria of SBI Life Shubh Nivesh Plan

Criteria Minimum Maximum
Age 18 years Endowment Option:
55 years (for regular premium)
60 years (for single premium)
Endowment with Whole Life Option:
50 years (For both Single/Regular Premium)
Maturity Age 65 years
Annual Premium Single-Premium: Rs. 43,000
Yearly: Rs. 6,000
Half-Yearly: Rs. 3,000
Quarterly: Rs. 1,500
Monthly: Rs. 500
No Limit
Premium Frequency Single-Premium, Monthly, Quarterly, Half-Yearly, Yearly
Premium Paying Term Single-Premium/Regular Premium (same as policy term)
Sum Insured Rs. 75,000 (x 1,000) No Limit
Policy Term Endowment Option: 10 (RP)/5 (SP) years
For Endowment with Whole Life Option: 15 years (For both SP/RP)
30 years (Endowment Term)

**Last Updated on July, 2021

Riders Available Under SBI Life Shubh Nivesh

  1. Preferred Term Rider

    This rider offers a death benefit under the base policy in addition to the rider sum assured in the case of the unfortunate demise of the policyholder.

  2. Accidental Death Benefit Rider

    As the name suggests, the rider is subject to pay the rider sum assured amount together with the death benefit of the policy in case the life insured dies due to an accident.

  3. Accidental Total and Permanent Disability Benefit Rider

    In the case of total and permanent disability that is caused due to an accident, the rider sum assured is paid. However, the base cover and other benefits of the policy will continue. On paying premiums, the policy will continue until the end of the policy tenure.

The sum assured option for all the riders is the same, that is:

Minimum Sum Assured: Rs. 25,000

Maximum Sum Assured: Rs. 50 lakhs

Sample Illustration Of SBI Life Shubh Nivesh

To get a better understanding of how SBI Life Shubh Nivesh works, take a look at the illustration below, where Rakesh, a 30-year-old man decides to invest under this plan for 15 years. Now let's look at how much benefit he will get at the time of maturity.

Policy Term 15 Years
Premium Frequency Single
Sum Assured Rs. 10,00,000
Maturity Benefit Endowment Option At assumed rate of returns:
@ 4% 11,03,500
@ 8% 17,76,250
Endowment with Whole Life Option At assumed rate of returns:
@ 4% 10,69,000
@ 8% 18,79,750

**Last Updated on July, 2021

What Is Not Covered Under SBI Life Shubh Nivesh Plan?

  • If the policyholder attempts or commits suicide during the initial 12 months of the policy, the company will not be liable to pay for any claim. This is the case when subscribed to the regular premium policy, but in the case of single premium policies, 80% of the total premiums paid will be payable to the beneficiary of the policy.
  • Death or disability due to any widespread infection.
  • Accidental wounds
  • Any disability or demise due to intake of alcohol, drugs, psychiatric medicines, etc.
  • Wars, riots, nuclear attacks induced injury or disease.
  • Any flying activity that caused any injury or death.
  • Hazardous sports may be commenced at one's own risk.

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SBI Shubh Nivesh: FAQs

1. What will happen if I stop paying the premium of my SBI Shubh Nivesh Plan?

In case you have forgotten/stopped paying the premium of your SBI Shubh Nivesh Plan, the company will offer you a grace period of 15 days for monthly premium payment and 30 days for other modes of premium payment quarterly, bi-yearly and yearly. If you fail to pay your premium in the grace period, your policy will be lapsed, and you will not be able to avail any benefits.

2. I want to surrender my SBI Shubh Nivesh Plan?

If you cancel your insurance plan within the policy period, SBI Shubh Nivesh will pay you a surrender value. The Surrender Value is determined by the higher Guaranteed Surrender Value or Special Surrender Value.

3. Does the plan offer any free-look period?

If the insured is not satisfied with their Shubh Nivesh policy, they are free to cancel the plan within 15 days of policy inception.

4. Am I eligible to avail loans against my SBI Shubh Nivesh Plan?

During a financial emergency the policyholder is eligible to avail loans against their SBI Subh Nivesh policy. The loans will be available only after the policy acquires the surrender value, and is limited to a maximum of 90% of the surrender value.

5. Is there any loading on SBI Life Shubh Nivesh?

Yes, the plan has a loading as per the below table:

Half-yearly 51.00% of annual premium
Quarterly 26.00% of annual premium
Monthly 8.50% of annual premium

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Reviewed By : Naval Goel

Naval Goel is the CEO & founder of Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of Insurance Web Aggregator.