SBI Term Insurance
SBI Life Smart Swadhan Supreme provides life cover at affordable premi ...Read More
A quick read on what this SBI Term Insurance term plan covers and why it might be a fit for you.
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 insurance 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 Plan offers you a range of benefits including:
A quick honest summary — the strengths and the trade-offs.
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
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.
Eligibility criteria pulled straight from the policy wording.
Let's understand how the SBI Life Smart Swadhan Supreme Plan works with a simple premium illustration.
Mr Atul, a 30-year-old corporate employee, wants to ensure that his family is able to maintain their lifestyle even when he is not around.
His financial advisor advised him to buy the SBI Life Smart Swadhan Supreme Plan Work. He visited PolicyX.com.
Let's understand how the SBI Life Smart Swadhan Supreme Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹1,153/month | ₹13,836/year | 30 years | ₹4,15,080 | ₹1 Crore |
Key Takeaways: In case of his unfortunate demise during the 10th policy year, ₹1 Cr is paid to her family as a lump sum as a death benefit. If he survives until the end of the policy term, he'll receive a maturity benefit, which he can use to plan a vacation with his family.
You can add the following riders to your SBI Smart Swadhan Supreme Plan:
Accidental Death Benefits Rider provides 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.
Key features that make SBI Smart Swadhan Supreme stand out.
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.
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.
Tax Benefits
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.
Maturity Benefit
The SBI Smart Swadhan Supreme offers an option to get back return 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.
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.
Here are the key benefits of the SBI Smart Swadhan Supreme.
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 higher than the Basic sum assured or 11 times the annualized premium or 105% of the total Premiums received up to the date of death.
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.
House-WifeTerm 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.
Surrender Benefit
If you don't feel like continuing your policy, you can exit your plan and get a surrender value. To do so, you have to pay at least one full policy year's premium. Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV), Whichever is higher, is payable as Surrender Value.
Here is the list of exclusions associated with the plan:
SBI Life Smart Swadhan Supreme is a pure-term insurance plan that offers complete protection up to the age of 75 years. It provides life cover at affordable premiums and also returns the total premium paid at the end of the policy term upon survival. 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.
The 4 most-asked questions about SBI Smart Swadhan Supreme, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
Select a company and plan for each side to see a detailed side-by-side comparison.
Rated by 921 customers
Select Your Rating
Let us know about your experience or any feedback that might help us serve you better in future.
Do you have any thoughts you'd like to share?
5-min consultation · No spam · No pushy sales
ChatGPT
Claude
Perplexity