SBI Life Smart Flexi Term Plus

SBI Life Flexi Smart Plus is a non-linked life insurance plan    This ...Read More

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Himanshu Kumar

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Himanshu is a content marketer with 2 years of experience in the life insurance sector. His motto is to make life insurance topics simple and easy to understand yet one level deeper for our readers.

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Raj Kumar

Raj Kumar

Health Insurance

Raj Kumar has more than a decade of experience in driving product knowledge and sales in the health insurance sector. His data-focused approach towards business planning, manpower management, and strategic decision-making has elevated insurance awareness within and beyond our organisation.

Updated on Jul 29, 2025 4 min read

SBI Life Smart Flexi Term Plus

SBI Life Flexi Smart Plus is a non-linked life insurance plan    This plan offers the required comprehensive life insurance cover along with investment opportunities. It is a participating variable insurance plan that allows the beneficiary to receive the sum assured or 105% of total premiums paid as of the date of intimation of death claim in the form of death benefits.

This plan comes out with regular and guaranteed benefits along with few other advantages such as bonus interest rates, premium holidays, etc. It also offers the flexibility to adapt to your ever-changing needs, thus, it helps to accomplish all your goals. 

This plan offers you various benefits including:

why-choose
  • Guaranteed Minimum Bonus
  • Interim Bonus
  • Flexibility
  • Surrender Benefit
  • Partial Withdrawals
  • Revival/renewal

Eligibility Criteria for SBI Life STEP Plan

Your Occupation

Entry age

Minimum Age - 18 years Maximum Age - 60 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 65 years

Your Gender

Policy tenure

Minimum 5 years to Maximum 30 years

Maternity Benefit Rider

Premium payment term

Annual, half-yearly, quarterly & monthly

Dr YSR Aarogyasri Trust

Premium payment frequency

Annual, half-yearly, quarterly & monthly

Maternity Benefit Rider

Sum assured

10 times annual premium

How Does SBI Life Flexi Smart Plus Plan?

Let’s understand how the SBI Life Flexi Smart Plus Plan works with the help of a simple illustration.

Why Buy Term Insurance Online?

Problem

Mr. Verma is looking for a savings plan that provides him guaranteed returns along with a return on the amount he has invested.

Solution

His financial advisor advised him to buy the SBI Life Flexi Smart Plus Plan to get the dual benefits of a life insurance plan and a savings plan. He visited PolicyX.com

Let's understand how the SBI Life Flexi Smart Plus Plan works for him with a premium illustration table.

Age of policyholder Annual premiums Policy tenure Premium payment term Total premiums paid Basic sum assured Guaranteed additions Maturity benefits
40 years Rs. 5,000 15 years 10 years Rs 50,000 Rs 50,000 Rs 39,400 Rs 89,400

Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 1 crore will be paid to their nominee.

Features of SBI Life Smart Flexi Term Plus

Here are some features of SBI Life Smart Flexi Term Plus:

SBI Life Insurance Life Plan

SBI Life Smart Flexi Term Plus

SBI Life Smart Flexi Term Plus

SBI Life Flexi Smart Plus is a non-linked life insurance plan    This plan offers the required comprehensive life insurance cover along with...

Unique Features

  • Offers Surrender Benefit
  • Tax Benefits Available
  • 100% Guaranteed Returns

SBI Life Smart Flexi Term Plus (Pros)

SBI Life Smart Flexi Term Plus
  • Guaranteed Bonus
  • Partial Withdrawls
  • Interim Bonus

SBI Life Smart Flexi Term Plus (Cons)

SBI Life Smart Flexi Term Plus
  • No Policy Loan
  • Funds to invest
  • Spouse cover

SBI Life Smart Flexi Term Plus (Other Benefits)

SBI Life Smart Flexi Term Plus
  • Death Benefit
  • Maturity Benefit
  • Tax Benefit

SBI Life Smart Flexi Term Plus (Eligibility Criteria)

SBI Life Smart Flexi Term Plus
  • Minimum entry age-18 years
  • Maximum entry age-60 years
  • Minimum policy term- 5 years
  • Maximum policy term-30 years
  • Maximum sum assured- Rs. 50
  • 000
Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

SBI Life Flexi Smart Plus Plan

There are various benefits to buying the SBI Life Flexi Smart Plus Plan. Let’s understand each of them in detail:

  • Guaranteed Death Benefit In the case of the insured's death, the plan will offer the following death benefits: For Gold Benefit - The death benefit will be higher of the account value or sum assured or 105% of the total premiums paid as on the date of intimation of the claim form, For Platinum Benefit - The death benefit will be of higher of the policy account plus sum assured or 105% of the total premiums paid as on the date of intimation of the claim form.
  • Maturity BenefitAt the time of maturity, the insured will receive the policy account value that includes a terminal bonus. The maturity benefit will be paid in a lump sum amount.
  • Increase Policy Term Every year after the completion of 5 years of the policy, the insured will get a choice to increase the policy tenure. If the insured increases the policy tenure, the corresponding premium payment term will also be increased. You can grab this benefit only once during the entire policy term.

Documents Required to Buy SBI Life Flexi Smart Plus Plan

Here is the list of documents required to buy the SBI Life Flexi Smart Plus Plan:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy SBI Life Smart Flexi Term Plus?

You can buy the SBI Life Smart Flexi Term Plus official website or one of their nearest branch offices.

 

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Click on the ‘Investment’ tab.

  • Step 3

    A new page will appear on the screen.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of SBI Life Insurance Company.

  • Step 2

    Hover over the ‘Plans’ and click on ‘Saving Plans’.

  • Step 3

    Click on ‘Online Plans’ and choose 'Exclusions of SBI Life Flexi Smart Plus Plan'.

  • Step 4

    Click on ‘Know More’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

Buying from their branch office

You can buy the SBI Life Flexi Smart Plus offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.

Your Occupation

Exclusions of SBI Life Flexi Smart Plus

  • In case the policyholder commits suicide within 12 months of policy purchase then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date whichever is higher is paid.

Plan At a Glance

What’s Good Here What’s Missing
Guaranteed Minimum bonus funds
Flexible premium paying term Policy loan 
Choice to alter the premium payment mode Spouse cover
Option to take a policy loan Top-up premium

In a nutshell

If you are looking for an insurance plan that not only protects your family financially but also provides maturity benefits if you outlive the policy tenure then you can consider buying SBI Life Flexi Smart Plus Plan. This plan offers you guaranteed additions along with maturity benefits. If you are still confused about whether buying this plan is right for you or not then you can contact us at PolicyX.com. 

For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

SBI Flexi Smart Plus: FAQs

1. Does SBI Life Flexi Smart Plus Insurance offer any Riders for enhanced protection?

No, there are no riders available under the plan.

2. When can I make changes in my policy terms?

One can make an increase in policy terms only after the completion of 6 years. For making changes, one needs to give a 2 months notice prior to the policy anniversary.

3. I have not paid my premiums of SBI Life Flexi Smart Plus Insurance for the last one year. Can I revive my policy? What other options do I have?

On discontinuation of premiums, the plan allows your to Surrender your policy Revive your policy within 2 years from the date of discontinuation, or Convert the policy into paid-up policy.

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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