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Empowering Futures.

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Know about SBI Life - Smart Platina Young Achiever

UIN: 111N173V02 | Product Code: 3Y

Guaranteed Benefit

'In-built Waiver of Premium# Benefit

 

Flexibility to get maturity payout* as per your needs

 

Know Your Life Insurance Plan

Features

Guaranteed Benefit: Plan with confidence, knowing your child's important life moments will be financially supported with SBI Life - Smart Platina Young Achiever. The assurance of a strong financial foundation ensures that every milestone in your child's future stands secure and within reach.
 
In-built Waiver of Premium Benefit#: Should unforeseen circumstances arise during the policy term, SBI Life - Smart Platina Young Achiever benefits continue supporting your child over time. The path you have planned for them remains secure, even when the proposer’s circumstances change.
 
Flexible Payout Options: SBI Life - Smart Platina Young Achiever empowers you to structure financial assistance in the way that best serves your child's evolving requirements. Based on your child's needs, the entire payout can be received at once or distributed in instalments over up to seven years for sustained support.
 
Tax Benefits: Tax benefits allow you to maximise your savings whilst building lasting security for your child's future with SBI Life - Smart Platina Young Achiever. Tax benefits are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for further details.

Advantages

Security: SBI Life - Smart Platina Young Achiever provides the assurance of knowing your child will have substantial support when pursuing their aspirations. Its guaranteed Maturity Benefit delivers a lump sum at the end of the policy to support your child's future goals.
 
Flexibility: SBI Life - Smart Platina Young Achiever empowers you with the adaptability to get the full amount at once or in instalments over up to seven years as per your financial needs. This approach adapts to your child's milestones and the opportunities that emerge along their path.
 
Transparency: Your child's aspirations deserve the assurance offered through guaranteed and reliable returns that remain clear from the outset. SBI Life - Smart Platina Young Achiever’s clarity allows you to plan with precision, knowing exactly what your child will receive.
 
Reliability: SBI Life - Smart Platina Young Achiever’s Guaranteed Additions will accrue at the end of each policy year starting from first policy year till the end of Policy Term, providing your child with consistent support throughout their life. This steady accumulation of benefits gives you confidence that your child's financial foundation strengthens with each passing year.
 
Guaranteed Additions, calculated as a percentage of the total premium paid, will accrue at a rate based on the premium payment term and Annualised Premium you choose. The rate of guaranteed additions (as a percentage of total premium paid) will be as follows:
Annualized Premium Band (Rs.) Premium Payment Term
7 years 10 years
50,000 to less than 1,00,000 5.50% 6.00%
1,00,000 to less than 2,00,000 5.75% 6.25%
2,00,000 & above 6.00% 6.50%

Guaranteed Addition in the year of death shall be payable for the full policy year.

For the Reduced Paid-up policy, the Reduced Guaranteed Addition for each policy year will be calculated by multiplying the Reduced Guaranteed Addition rate with the total premium paid by you up till that year.

The Reduced Guaranteed Addition Rate is calculated by taking the Guaranteed Addition Rate and multiplying it by the ratio of the total period for which premiums are already paid to the total period for which they were payable.

Plan Benefits

Maturity Benefit

If the Policy is in force and the life assured survives till the end of the Policy Term, then Sum Assured on Maturity plus accrued Guaranteed Additions will be payable as a lump sum at the end of the Policy Term.

Where, Sum Assured on Maturity is equal to the Sum Assured.
 
Death Benefit for Life Assured

On the death of the Life Assured during the policy term, provided the policy is in force, the higher of the following will be payable:

a) Sum Assured on Death plus accrued Guaranteed Additions

Or

b)105% of Total Premiums Paid## up to the date of death

Where;

Sum Assured on Death is higher of Sum Assured or 11 times of Annualized Premium**

On payment of the death benefit, the Policy will terminate, and no further benefits will be available under the Policy.
 
Waiver of Premium on Death or Accidental Total Permanent Disability (ATPD) of Proposer

On Death or Accidental Total Permanent Disability of the Proposer during the premium payment term, provided the policy is in force, future premiums payable (if any) on and after the date of death or ATPD under the Policy will be waived off, and the Policy will continue as an in-force policy.

Please note that for Accidental Total Permanent Disability claim to be payable, such disability must have persisted continuously for a period of at least 180 days and must, in the opinion of a suitable Medical Practitioner, appointed by the Company, be deemed permanent. The 180 days waiting period to establish permanence of disability is not applicable in case of loss by physical severance.

**Annualized Premium shall be the premium amount payable in a year, excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premium.

##Total Premiums Paid means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly

#In-built Waiver of Premium Benefit on death or Accidental Total Permanent Disability of the proposer

*Defer maturity payout or get the same in instalments of up to 7 years

Downloads

For more details on risk factors, terms and conditions of SBI Life – Smart Platina Young Achiever, read the following documents carefully.

• Product Brochure/Prospectus

• Product Guide

• Policy Document

• Customer Information Sheet (CIS)


 

Who Can Buy?

Proposer's Age^ at Entry Minimum: 18 years Maximum: 65 years
Child's Age^ at Entry Minimum: 30 days (0 year) Maximum: 15 years
Child's Age^ at Maturity Minimum: 18 years Maximum: 35 years
Premium Payment Term 7/ 10 years
Policy Term 15 to 25 years Policy Term will be subject to minimum and maximum age at maturity of child as mentioned above
Annualized Premium Minimum: ₹50,000 Maximum: No limit (subject to board approved underwriting policy)
Sum Assured Minimum: ₹3,50,000 Maximum: No limit (subject to board approved underwriting policy)
Premium Frequency Yearly/ Half-Yearly/ Monthly The premiums for Half-Yearly & Monthly frequencies will be calculated as: Half-Yearly: 51.00% of Annualized Premium Monthly: 8.50% of Annualized Premium

^All the references to age are age as on last birthday

Calculate Your Premium

Aryan has invested his funds while being assured of its growth with just limited premium payments.

You too can secure your future. Fill out the Smart Platina Young Achiever calculator to know how.

1 Personal Details

Select Your Gender

Proposer Gender

Discount

2 Let's finalize the policy duration you are comfortable with...
Policy Term
15 25
Annual Premium
50,000 No Limit
Distribution Channels
  • Individual Agents
  • Corporate Agent
  • Direct Marketing
  • Online
  • Web Aggregator
  • Broker
  • Insurance Marketing Firms (IMFs)
3 A little information about the premium options...

Premium Frequency

Premium Paying Term
  • 7
  • 10
  • ⓘ Please fill out your Name to proceed.
  • ⓘ Enter a valid calendar date for Assured's DOB.
  • ⓘ Please fill out Proposer's Name to proceed.
  • ⓘ Enter a valid calendar date for Proposer's DOB.
  • ⓘ Please select Distribution Channels.
  • ⓘ Please select Premium Paying Term.
Sum Assured
₹50000
Premium Payment Term
10 Years
Policy Term
10 Years
Maturity Benefit

₹ 0

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Frequently Asked Questions

SBI Life - Smart Platina Young Achiever offers parents, grandparents, or guardians the option of securing a future filled with opportunities for children aged 0(30 days) -15 Years. Guardians or parents between 18-65 Years can begin making a lasting impact on their child’s educational journey or other milestones. This plan is your commitment to your child's bright future, ensuring the opportunities they deserve remain within reach.

SBI Life - Smart Platina Young Achiever is a life insurance savings product designed to build a secure foundation for your child's education ahead. It combines life cover with maturity benefits, ensuring their path continues through every chapter. With this plan, you create the groundwork for their success, keeping their way forward clear and supported. Consult our experts to know more about our plan.

SBI Life - Smart Platina Young Achiever offers the opportunity to maximise your savings while securing a stable future for your child. Tax benefits are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for further details.

The Waiver of Premium (WoP) is an in-built benefit that ensures the policy remains in force in case of the proposer’s death or Accidental Total Permanent Disability (ATPD) during the premium payment term. If such an event occurs, all future premiums under the policy are waived off. This feature provides financial security by ensuring that the child’s coverage and benefits under the plan continue without interruption, even in the absence or incapacitation of the proposer.

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#In-built Waiver of Premium Benefit on death or Accidental Total Permanent Disability of the proposer

*Defer maturity payout or get the same in instalments of up to 7 years

Please note that life assured is the minor child under this plan and parent or grandparent or legal guardian can be the policyholder / proposer. This shall be as per our board approved underwriting policy. The Waiver of Premium cover will be on the proposer’s life. The policy shall automatically vest to the life assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Company and the life assured.

*Tax Benefits:

You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details. Please consult your tax advisor for details.

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
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