SBI Life Saral Swadhan Plus Plan
- Death benefit
- Maturity Benefit
- Survival benefit
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Updated on Apr 08, 2025 4 min read
SBI Saral Swadhan Plus is an individual, non-linked, non-participating, life insurance plan that gives you a fixed life cover throughout the policy term along with the guaranteed maturity benefit. The plan is designed to satisfy the insurance needs of the people who are interested in getting protection for their families at a nominal cost, with the added benefit of saving funds for their future goals.
SBI Life Saral Swadhan+ Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 55 years
Maximum Maturity Age - 70 years
Minimum term - 10 years Maximum term - 15 years
Basic Sum Assured: ₹30K to ₹4.75L
The policy loan is not available under SBI Life Saral Swadhan+ Plan.
Yearly
Let's understand how the SBI Life Saral Swadhan Plus Plan works with a simple premium illustration.
Mr. Kumar, aged 25 years, is looking for a protection plan that offers easy enrollment to protect his family.
His financial advisor advised him to buy the SBI Life Saral Swadhan+ Plan Work. He visited PolicyX.com.
Let's understand how the SBI Life Saral Swadhan+ Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 25 years | ₹124/month | ₹1,488/year | 30 years | ₹37,200 | ₹2 Lakhs |
Key Takeaways: If Kumar survives till the end of the policy term, then he will get the maturity benefit. In the unfortunate event of Mr. Kumar's demise during the policy term, the Nominee or beneficiary will get the death benefit.
Here are the benefits associated with the SBI Life Saral Swadhan Plus Plan
The beneficiary will receive the sum assured in the unfortunate case of a life-assured death during the policy term. The sum assured payable to the beneficiary will be higher than the basic sum assured or 10 times the annualized premium or & 105% of the total premiums received up to the date of death.
If the policyholder survives till the end of the policy term, he/she will be liable to avail maturity benefits. The maturity benefits paid to the policyholder would be for PT 10 years: 100% of the Total Premiums paid and PT 15 years: 115% of the Total Premiums paid.
The policyholder can surrender the in-force policy or paid-up policy at any time during the policy term after payment of at least one full policy year's premium.
With this plan, customers have the option to customize their coverage by choosing from a wide range of additional benefits including accidental death benefit rider and accidental total and permanent disability benefit rider.
SBI Term Insurance
You can add the following riders to your SBI Life Saral Swadhan+ Plan:
Accidental Death Benefits Riders provide an additional sum if the policyholder dies within 120 days of the accident.
Accidental Total and Permanent Disability Rider covers the policyholder if any accident occurs that leads to the permanent disability of the policyholder.
Here is the list of exclusions associated with the plan:
SBI Life Saral Swadhan+ is a simple term insurance plan that offers dual protection with a life cover of up to 70 years and a return of premium option. The plan provides fixed life cover throughout the policy term, along with a guaranteed maturity benefit. 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.
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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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