SBI Life Saral Jeevan Bima Yojana - Benefits and Key features
SBI Term Insurance SBI Term Insurance ★ 4.6

SBI Saral Jeevan Bima

SBI Life Saral Jeevan Bima is a simple, pure protection plan that offe ...Read More

🛡️ IRDAI Approved
4.6/5 · 941 reviews
📊 1.96 solvency ratio
98.83%% claim settlement ratio
🌐 1154+ pan-India

About SBI Saral Jeevan Bima

A quick read on what this SBI Term Insurance term plan covers and why it might be a fit for you.

SBI Saral Jeevan Bima is a non-linked and non-participating life insurance premium product. It is suitable for people who want a pure protection cover.

Security for your loved ones is available with the SBI Life Saral Jeevan Bima Plan at a reasonable cost. It is a straightforward policy that offers the ease of paying a premium once, on a regular basis, or over the course of a policy period of 5 or 10 years. SBI Life Saral Jeevan Bima offers a death benefit to policyholders safeguarding the future of their loved ones. On the death of the life assured during the policy period once the waiting period has passed or due to an accident, the nominee/legal heir will receive the sum assured in lumpsum. SBI Life Saral Jeevan Bima does not offer any survival benefits, maturity benefits or rider benefits. It is a simple, straightforward life insurance plan.

SBI Saral Jeevan Bima Plan offers you a range of benefits including:

  • Affordable Premiums
  • Multiple Premium Payment Term
  • Tax Benefits As Per Laws
  • Life Cover Up To 70 Years
  • Instant Issuance
  • Death Benefit

Eligibility Criteria for SBI Saral Jeevan Bima

Entry age
Entry age
Minimum Age - 18 years Maximum Age - 65 years
Maturity age
Maturity age
Maximum Maturity Age - 70 years
Policy term
Policy term
Minimum term - 5 years Maximum term - 40 years
Sum assured
Sum assured
Basic Sum Assured: ₹5L to ₹25L
Policy loan
Policy loan
The policy loan is not available under SBI Saral Jeevan Bima.
Payment Modes
Payment Modes
Single, Yearly, Half-Yearly, and Monthly

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Simple Term Plan
  • Affordable Premiums
  • Tax Benefits

Cons

  • No Surrender Benefit
  • No Maturity Benefit
  • No Policy Loan

Video reviews

Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.

SBI Term Insurance | Best Life Insurance Policy In India

SBI Term Insurance | Best Life Insurance Policy In India

SBI Life Insurance Term plans are a very reliable choice and are designed to provide financial security to a policyholder’s family in the face of the unfortunate event of their demise. The term plans from SBI Life offer additional riders that offer extra coverage in case of accidental death benefits.

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Entry Age -18 Years
Max Entry Age- 60 Years
Minimum Sum Assured - ₹5L
Maximum Maturity Age - 70 Yrs
Premium Payment Term - RP/SP/LP

How Does SBI Saral Jeevan Bima Work?

Let's understand how the SBI Saral Jeevan Bima with a simple premium illustration.

Problem

Mrs. Deepika wants affordable life insurance to protect her family's financial future in case of an unforeseen event.

Solution

Her financial advisor recommended SBI Life Saral Jeevan Bima. She opted for a life cover of ₹25 lakh with coverage for 25 years.

Let us see a brief illustration of  theClick 2 Protect Supreme plan.

Age Policy Term Total Premium Paid  Sum Assured Premium (Monthly)
40 years 25 years ₹4,50,000 ₹25 Lakh ₹1,500

Key Takeaways: 

If Mrs. Deepika passes away during the policy term, her nominee receives ₹25 lakh as a death benefit. If she survives the policy term, no maturity benefit is payable.

What are the xclusions of SBI Life Sararl Jeevan Bima Plan? 

Here is the list of exclusions associated with the plan:

  • Death occurred due to a pandemic is not covered by the company.
  • Death caused due to any type of adventure sports.
  • Death by consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide within first 12 months of purchasing the policy, then no death benefits are paid to their nominee.

Conclusion

SBI Term Insurance Saral Jeevan Bima is a simple term insurance plan that offers complete protection up to the age of 70 years at affordable premiums. Apart from the death benefit, you can choose your premium payment term and pay at your convenience. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.

Conclusion

SBI Term Insurance Saral Jeevan Bima is a simple term insurance plan that offers complete protection

SBI Saral Jeevan Bima: FAQs

The 8 most-asked questions about SBI Saral Jeevan Bima, answered.

Saral Jeevan Bima simplifies the concept of term insurance and brings it within easy reach of everyone. The Saral Jeevan Bima insurance is a standard term insurance policy that is being rolled out by insurance companies from 1 January 2021. This follows a directive from the Insurance Regulatory and Development Authority of India (IRDAI) to all life insurers to launch a standard term plan which will have uniform terms and conditions across insurers, with sum assured ranging between Rs 5 lakh and Rs 25 lakh.
SBI Saral Jeevan Bima offers a minimum sum assured of Rs 5 lakhs.
The minimum and maximum entry age for SBI Saral Jeevan Bima Plan are 18 Years to 65 Years.
SBI Saral Jeevan Bima policy is a basic pure protection plan that offers financial security to the insurer’s family in the face of adversity. It offers the sum assured in the form of a lump sum amount to the insurer’s family in order to provide them with financial protection.
SBI Saral Jeevan Bima is a basic protection scheme which does not offer any maturity benefits.
Yes, SBI Saral Jeevan Bima can be bought online. Complete the application, upload all the required documents, pay premiums digitally, and receive immediate confirmation without visiting a branch.
Riders available under this plan include Accidental Death Benefit and Accidental Total & Permanent Disability. These offer additional financial protection to the nominee.
The insured’s health impacts coverage and premiums. Pre-existing conditions may raise the premium or exclusions.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Compare Term Insurance Plans

Select a company and plan for each side to see a detailed side-by-side comparison.

Share your Valuable Feedback

Rating Icon 4.6

Rated by 920 customers

Was the Information Helpful?

Select Your Rating

We would like to hear from you

Let us know about your experience or any feedback that might help us serve you better in future.

Reviews and Ratings

Do you have any thoughts you'd like to share?

📞 Call Free