SBI Smart Swadhan Supreme
  • Maturity benefits
  • Flexible policy term
  • Tax benefits under section 80C
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SBI Life- Smart Swadhan Supreme

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 while, the thought of outliving your term plan comes to your mind. Such as, what will happen if I survive the whole policy term? What will happen to my paid premiums? Will I get those back? Fortunately, term return of premium plans do so! 

Such a plan is SBI Smart Swadhan Supreme which offers dual benefits of long-term protection along with the return of a premium option if you survive the whole policy term. It is a pure protection plan which offers protection at an affordable cost with the flexibility to choose a term from 10 to 30 years.

SBI Life Smart Swadhan Supreme at a Glance:

Parameter Specification
Entry age  Minimum- 18 years
Maximum- 60 years
Maturity age  75 years (Last birthday)
Sum assured  Minimum - 25 lakhs
Maximum- No limit
Policy term Minimum- 10 years 
Maximum- 30 years 
Premium Paying option Limited pay and Regular pay
Premium frequency  Yearly, Half-yearly, Monthly

5 Reasons to Choose SBI Life- Smart Swadhan Supreme as Your Term Plan

Here are top five reasons why you should choose SBI Life- Smart Swadhan Supreme as your term insurance plan:

  1. Flexible policy term

    SBI Smart Swadhan Supreme provides flexibility to choose policy terms from a minimum of 10 years to a maximum of 30 years; by analyzing your responsibilities, you can select a specific policy term to provide financial support to your loved ones after your demise.

  2. Premium paying convenience

    SBI Life Smart Swadhan Supreme offers various premium paying options, such as regular or limited (7/10/15 years) premium paying terms

  3. Maturity benefit

    The SBI Smart Swadhan Supreme offers an option to get back 100% of the total premium paid for the plan, excluding taxes and charges, which helps you enjoy the pool of funds you receive as a maturity benefit.

  4. Tax benefit

    You can enjoy the tax benefit for the premium paid for SBI life- smart Swadhan Supreme up to 1.5 lakh under section 80C of the income tax act and up to 50,000 for any health rider taken up with the plan.

  5. Financial support to dependents

    SBI Life smart Swadhan supreme term plan offers financial support to loved ones in your absence, which supports them in not compromising the future cost of living with rising inflation.

Premium illustration of SBI Life Smart Swadhan Supreme term plan

Here is sample premium illustration of 29 year old, non-smoker male looking for a life cover of 1 crore with a policy term of 15 years:

Age Policy term Premium paying term  Sum assured  Premium amount
29 15 years  15 years  1 crore Monthly- 2928/-
Annually- 34443/-

What are the Benefits Available Under SBI life Smart Swadhan Supreme plan?

Here are the list of benefits available under SBI life smart swadhan supreme plan:

  1. Death Benefit

    Under the SBI life-smart swadhan supreme death benefit, if the policyholder passes away during the term, a sum assured will be payable to the nominee.

    The death benefit will be paid, among the higher of:

    • Basic sum assured.
    • 11 times the annualized premium.
    • 105% of the total Premiums received up to the date of death.
  2. Maturity benefit

    Under the SBI life-smart Swadhan supreme maturity benefit, customers can get back up to 100% of the total premiums paid for the policy term either in a single lump sum or monthly income upon survival of the whole policy term.

    For e.g.: Vaibhav, a software engineer, wants to protect his family financially and is able to maintain their lifestyle even when he is not around. So he opted for SBI Life – Smart Swadhan Supreme for a sum assured of 1 crore and a policy term of 30 years with regular premium payment. His premium for this life cover is 22,096 per year.

    • Scenario 1: If, due to any circumstance, Vaibhav passes during that term, a death benefit of 1 crore will be payable to the nominee so the family can maintain the future lifestyle with raised inflation rates.
    • Scenario 2: If Vaibhav survives the whole policy term, he will receive a survival benefit of up to Rs. 6,62,000, which he can use to enjoy a post-retirement life.
  3. House-Wife Term Insurance:

    The SBI Life - Smart Swadhan Supreme plan could also be purchased by house wifes. Housewives between the age of 21- 50 years can opt smart swadhan supreme term plan by showing education documents.

Documents required to purchase SBI Life- Smart Swadhan Supreme plan?

Here is a list of documents required to purchase the SBI Life- Saral Swadhan Supreme term plan:

  • Age Proof (Either one)-
    1) Aadhar card
    2) Pan card
    3) Voter ID card
    4) Passport
  • Address Proof (Either one)-
    1) Aadhar card
    2) Pan card
    3) Voter ID card
    4) Passport
  • ID Proof (Either one)-
    1) Aadhar card
    2) Pan card
    3) Voter ID card
    4) Passport
  • Income Proof (either one)-
    1) Last 3-month salary slips.
    2) Bank Statement

How to Buy SBI Life - Smart Swadhan Supreme plan?

Given below is the step-by-step process to purchase the SBI Life- Smart Swadhan Supreme plan from the insurer's website:

  • Step 1

    Open the SBI Life Insurance home page.

  • Step 2

    Click on the term insurance section and select SBI Life- Smart Swadhan Supreme plan.

  • Step 3

    Fill in your details like date of birth, and e-mail address, and select smoker/non-smoker.

  • Step 4

    Fill out your name, email address, city, country code, and mobile number and click continue.

  • Step 5

    Select the suitable option for the premium paying term, sum assured or choose a considerable rider if required.

  • Step 6

    Make payment and fill out the proposal form by entering all the necessary details of you and the nominee.

Explore Other SBI Best Term Insurance Plans

You can find other term policies offered by the SBI Term Insurance company in the section below:

Standard Plan

SBI Life Arogya Shield

SBI Life Arogya shield is a dual protection plan that covers health along with the life insurance cover. The plan comes with affordable premiums and offers discounts also.

Unique Features

  • 5% Discount on Premiums
  • OPD Coverage
  • Maternity Cover

SBI Life Arogya Shield (Pros)

  • Mental Illness Cover
  • Pre & Post Hospitalization
  • HIV/AIDS Cover

SBI Life Arogya Shield (Cons)

  • No Loans Allowed
  • No cover for suicide
  • No rider Benefits

SBI Life Arogya Shield (Other Benefits)

  • 141 Day Care Procedures
  • Tax Saving on 80D and 80C (Health & Life Premiums)
  • Multiple Sum Insured (1, 2 & 3L )

SBI Life Arogya Shield (Eligibility Criteria)

  • Entry Age - 90 Days (Health) 18 Years (Life)
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 70 Years
  • Premium Payment Term - Regular Premium (Annually)

Online Plan

A protection plan offering 3 plan options to choose from along with a Terminal Illness Benefit that allows you to enhance your protection with Riders.

Unique Features

  • Online Plan
  • Increasing Cover on Life Stages
  • 100 Years Life Cover

SBI Life e-Shield Next (Pros)

  • 2 Rider Options
  • Better Half Benefit Option
  • Guaranteed Surrender Value

SBI Life e-Shield Next (Cons)

  • No Loans Allowed
  • No Maturity Benefit
  • Suicide no covered

SBI Life e-Shield Next (Other Benefits)

  • Life Cover with Future Proofing Benefit
  • Death Benefit Options
  • Terminal Illness Cover on all Variants

SBI Life e-Shield Next (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 85 Years
  • Premium Payment Term - SP/RP/LP

Standard Plan

An Individual, Non-linked Pure Risk premium product, that offers complete protection to the family members.

Unique Features

  • Life Cover with Future Proofing Benefit
  • 100 % Death Benefit
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Spouse Cover
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Easy Claim Settlement Process
  • Avail Tax Benefits
  • Flexible-Premium Payment term

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured-5 L
  • Maximum Maturity Age- NA
  • Premium Payment Term-RP/SP/LP(5&10 Years)

Cancer Plan

SBI Life Sampoorn Cancer Suraksha

This plan provides extensive coverage from Minor Stage Cancer to Advanced Stage Cancer, offering up to 150% of the Sum Assured, while maintaining fixed premiums for 5 policy years.

Unique Features

  • Stage-wise Lumpsum Payout Benefit
  • Early Stage 30% SA
  • Major Stage 100% SA

Sampoorn Cancer Suraksha (Pros)

  • Sum Assured Reset Benefit
  • Medical Second Opinion Benefit
  • 50L Maximum Sum Assured

Sampoorn Cancer Suraksha (Cons)

  • No Loan Benefit
  • No Spread to Lymph Nodes Cover
  • No Maturity Benefit

Sampoorn Cancer Suraksha (Other Benefits)

  • No Medical Examination
  • Premium Waiver Benefit
  • Large Sum Assured Discount

Sampoorn Cancer Suraksha (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured-10 L
  • Maximum Maturity Age- 75 Years
  • Premium Payment Term - 5 to 30 Years

Standard Plan

SBI Life Smart Shield is a pure term plan that offers two options – Level Term Assurance and Increasing Term Assurance and offers additional riders for enhanced protection.

Unique Features

  • Coverage at an affordable cost.
  • Lower premiums for non-smokers.
  • Discount on larger sum assured.

SBI Life Smart Shield (Pros)

  • Two Plan Options
  • Accidental Total and Permanent Disability Benefit Rider
  • Accidental Death Benefit Rider

SBI Life Smart Shield (Cons)

  • Premium Loading
  • No Loan Benefit
  • No Survival Benefit

SBI Life Smart Shield (Other Benefits)

  • Covers Suicide
  • Death Benefit
  • Accelerated Critical Illness Benefit

SBI Life Smart Shield (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 80 Years
  • Premium Payment Term - 5 Yeras SP/RP

Rural Plan

SBI Life Grameen Bima

A Life Insurance Pure Risk Premium Product. It provides a life cover with a one-time premium payment. It is an affordable plan with surrender benefits.

Unique Features

  • Death benefit available.
  • Surrender allowed after 1st year.
  • No medical examination required.

SBI Life Grameen Bima (Pros)

  • Easy Enrolment
  • Suicide Cover
  • Fast Processing

SBI Life Grameen Bima (Cons)

  • No Loans Allowed
  • No Maturity Benefit
  • No Rider Benefits

SBI Life Grameen Bima (Other Benefits)

  • Min Single Premium Amount Rs 300
  • Max Sum Assured 50K
  • Tax Benefits

SBI Life Grameen Bima (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 50 years
  • Minimum Sum Assured - 10 K
  • Maximum Maturity Age - NA
  • Premium Payment Term - One-Time Payment at Inception

SBI Smart Swadhan Supreme plan: FAQ's

1. What is the minimum age to purchase SBI life-Smart Swadhan Supreme plan?

The Minimum age to purchase SBI life-Smart Swadhan Supreme plan is 18 years of age.

2. What is the minimum sum assured of SBI life-Smart Swadhan Supreme plan?

The minimum sum assured to purchase SBI life-Smart Swadhan Supreme plan is 5 lac.

3. How much grace period is available in SBI life- Smart swadhan supreme plan?

There is a 30 days grace period available in SBI life- smart swadhan supreme plan.

4. Can I avail loan under the SBI life-smart swadhan supreme plan?

No, you cannot avail loan under SBI life-smart swadhan supreme plan.

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SBI Term Insurance Reviews

Read what our customers have to say about SBI term insurance company

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Sneha Nath


March 28, 2024

I would like to inform you that my maturity claims have been settled by SBI Life Insurance on 04.15.2024 and thanks all of you for helping me throughout the claim process.

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kartik saxena


March 18, 2024

I had to add some riders to my Sbi life insurance, team helps to me to understand which rider is more important and which is not. Resulting helps me to save lots of money. Happy with...

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Rakesh kumar


February 16, 2024

Great service! Quick claim processing for my sbi life insurance, Highly recommend for reliable insurance coverage at competitive rates.

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January 25, 2024

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Varun Saxena

Written By: Varun Saxena

Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.