SBI Life Smart Swadhan Plus
- Return of Premium Feature
- High Sum Assured Discount
- Life Cover Up To 75 Years
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.
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 Apr 08, 2025 4 min read
SBI Term Insurance company offers a comprehensive term insurance plan called SBI Life Smart Swadhan Plus policy, which aims at fulfilling the future financial requirements of the family of the insured, in case any unfortunate event happens with the policyholder in the future.
Smart Swadhan Plus is an individual, non-linked, non-participating, life insurance plan that comes with the return of a premium feature. The plan is designed to satisfy the insurance needs of people who are interested in getting protection for their family at a nominal cost, with the added benefit of getting their premiums back on maturity, provided that the policy is in force.
SBI Life Smart Swadhan Plus Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 75 years
Minimum term - 10 years Maximum term - 30 years
Basic Sum Assured: ₹5L to No Limit
The policy loan is not available under SBI Life Smart Swadhan Plus Plan.
Single, Yearly, Quarterly, Half-Yearly, and Monthly
Let's understand how the SBI Life Smart Swadhan Plus Plan works with a simple premium illustration.
Mr Vikas, a healthy 30-year-old, is looking for a term plan that offers high life cover with the return of premium option at affordable premiums.
His financial advisor advised him to buy the SBI Life Smart Swadhan Plus Plan Work. He visited PolicyX.com.
Let's understand how the SBI Life Smart Swadhan Plus Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹1,253/month | ₹15,036/year | 25 years | ₹4,51,080 | ₹1 Crore |
Key Takeaways: If Mr Vikas passes away during the policy term, a sum assured equal to ₹1 Crore will be paid to the nominee. In case Mr Vikas outlives the policy term, you will get back all the premiums paid towards the term plan as a maturity benefit.
Here are the benefits associated with the SBI Life Smart Swadhan Plus
For policies with a single premium (SP): (Basic Sum Assured or 1.25 times Single Premium) whichever is higher is paid. For policies with a Limited Premium Payment Term (LPPT) or a Regular Premium (RP): (Basic Sum Assured or 10 times Annualized Premium or 105 percent of total premiums received up to the date of death), whichever is higher is paid.
If the life assured lives to maturity, 100 percent of all premiums paid during the policy term will be paid in one lump sum amount.
Opting for a higher sum assured amount in SBI Smart Swadhan Plus plan proves to be a benefit as the plan provides special discounts and rebates to customers opting for a higher level of protection.
If you don't feel like continuing your policy, you can exit your plan and get a surrender value. To do so, you must pay a premium for two consecutive years for the limited premium payment option and three full years’ premiums for the regular premium option.
SBI Term Insurance | Best Life Insurance Policy In India
You can add the following riders to your SBI Smart Swadhan Plus Plan:
Accidental Death Benefits Riders provide an additional sum if the policyholder dies within 120 days of the accident.
Accidental Total and Permanent Disability Riders cover 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 Smart Swadhan Plus is a comprehensive term insurance plan that offers double protection with a life cover option and a return of premium option. In this plan, you can get complete protection up to the age of 75 years and secure your family's financial future in case of your untimely demise. 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.
SBI Saral Swadhan Plus is an individual, non-linked, non-participating, life insurance plan that gives you a fixed life cover throughout the policy te...
Unique Features
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 th...
Unique Features
SBI Term Insurance company offers a comprehensive term insurance plan called SBI Life Smart Swadhan Plus policy, which aims at fulfilling the future f...
Unique Features
SBI Life - Poorna Suraksha is an Individual, Non-Linked, Non-Participating Life Insurance, Pure Risk Premium Product with in-built Critical Illness co...
Unique Features
According to IRDAI, a medical examination test is necessary for purchasing any Yojana. However, sometimes, a delay in a report or minor health issues ...
Unique Features
SBI Life eShield Next, launched by SBI Life is a new age term insurance plan that enables you to take care of your current requirements and your chang...
Unique Features
We can never know about what the future holds for us. And when you've the responsibility of supporting the family on your shoulders, then it becomes v...
Unique Features
As we grow older our responsibilities grow. Are you worried that your term plan might not be enough as your life will move forward? Fret not! SBI Life...
Unique Features
"A plan which returns all the paid premiums back upon completion of the policy term" Several term insurance plans provide insurance coverage for the p...
Unique Features
Usually, a term plan provides financial security to your loved ones in return for the premium you have paid during the policy term. But once in a whil...
Unique Features
SBI Life Arogya Shield is a health-plus life combination plan from SBI General Insurance and SBI Life Insurance that offers health and pure term life ...
Unique Features
In an unpredictable world safeguarding yourself and your family's future against any serious disease or forbidden threat of critical illness, such as ...
Unique Features
4.6
Rated by 861 customers
Select Your Rating
Let us know about your experience or any feedback that might help us serve you better in future.
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.
2390-17290585034240-1733994496.webp)
Do you have any thoughts you’d like to share?