Smart Future Star

Build The Foundation for Their Brightest Years

Every child's tomorrow begins with thoughtful planning today.   

Know about SBI Life - Smart Future Star

UIN: 111N172V01 | Product Code: 3X

In-built 'Waiver of Premium' Benefit

Lump Sum at Maturity

Flexible Maturity Payout Options

Know Your Life Insurance Plan

Features

Savings Benefit: Your child receives Sum Assured on Maturity plus accrued Bonuses if declared as Lumpsum Benefit on maturity. This provides strong financial support for important life moments like college admission, a new venture and more.
 
In-built Waiver of Premium benefit on death or Accidental Total Permanent Disability of the proposer, automatically comes as a part of the plan to secure your child’s future.
 
Flexible Payout Options: Flexibility to defer maturity payout or get the same in instalments up to 7 years as per your needs. SBI Life Smart Future Star lets you match your financial support with the timing of educational expenses, business plans, or other significant goals. The maturity benefit comes either as a lump sum or through convenient instalments, adapting seamlessly to your loved ones' specific needs.
 
Tax Benefits*: SBI Life Smart Future Star offers benefits under the prevailing provisions of the Income Tax Act, 1961. This helps your savings grow, enabling you to support your child's aspirations more effectively. 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: Life cover with an inbuilt Waiver of Premium benefit secures your child's journey, ensuring their plans remain on course. This feature of the SBI Life Smart Future Star policy helps maintain financial continuity. Your child's aspirations continue to progress, supported by the foundation you have established.
 
Flexibility: Your child's milestones arrive on their own timeline, and your planning adapts accordingly. SBI Life - Smart Future Star accommodates your circumstances with premium payment options of 7, 10 or 12 years, and policy terms ranging from 15 to 25 years. This flexibility ensures the plan aligns with the life you are building for them.
 
Simplicity: Dedicate more time to your family with SBI Life Smart Future Star’s streamlined application process and efficient policy setup. Securing your child's future becomes simpler, allowing you to focus on your child while their financial future remains protected.
 
Reliability: Transform aspirations into achievements with a dependable corpus. At policy maturity, the complete payout includes ‘Sum Assured on Maturity + vested Reversionary Bonuses if declared + Terminal Bonus, if any’, delivering comprehensive support for every significant milestone.

Plan Benefits

Death Benefit of Life Assured:

On the death of the child (life assured), during the policy term while the policy is in force, the higher of the following will be payable in lump sum to the nominee or legal heir:

Sum assured on death plus vested reversionary bonuses, if declared, plus terminal bonus, if any.

OR

105% of the total premiums paid up to the date of death.

A reversionary bonus, if any, would be declared as a result of the surplus generated based on the statutory valuation carried out at the end of every financial year.

Reversionary bonus will be applicable only for an in-force policy, and once declared, will be attached to the policy.

Reversionary bonus rate is expressed as a percentage of the Sum Assured.

Terminal bonus, if declared, would become payable in the policy year when the policy results into a claim either by death, surrender or maturity.

Terminal bonus would be expressed as a percentage of accrued Reversionary Bonuses.
 
Death or Accidental Total Permanent Disability (ATPD) of Proposer:

On occurrence of either death or accidental total permanent disability (ATPD) of the proposer during the premium payment term, while the policy is in force, future premiums falling due on and after the date of death or ATPD under the policy will be waived

Accident means sudden, unforeseen and involuntary event caused by external, visible and violent means which causes bodily injury but excludes illness and diseases.

Total permanent disability means that the life assured, due to accident, has been subject to one (or more) of the following impairments:

A. The total and permanent loss of sight in both eyes, or

B. The loss by physical severance (or total and permanent loss of use) of two limbs at or above the wrist or ankle, or

C. The total and permanent loss of sight in one eye and the loss by physical severance (or total and permanent loss of use) of one limb at or above the wrist or ankle.

Accidental total permanent disability means the total permanent disability:

A. Which is caused by bodily injury resulting from an accident, and

B. Which occurs due to the said bodily injury solely, directly and independently of any other causes, and

C. Which occurs within 180 days of the occurrence of such accident, and

D. For which the benefit shall be payable even if the disability happens after the expiry of the policy term subject to the following:

1. Accident happens when the policy is in force, and

2. Accidental disability happens within 180 days of this accident.

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.
 
Maturity Benefit:

On survival of the child (Life Assured) till the end of the policy term, while the policy is in force, the following is payable in lump sum:

Sum Assured on Maturity plus vested Reversionary Bonuses, if declared, plus Terminal bonus, if any.

On maturity of the policy, the policy will terminate, and no further benefits will be payable.

Where, Sum Assured on Maturity is equal to Sum Assured and is the absolute amount of benefit chosen by the policyholder at the inception of the policy

Downloads

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

• Product Brochure/Prospectus

• Policy Document

• Product Guide

• Customer Information Sheet (CIS)
 

Who Can Buy?

Age**at Entry - Child (Life Assured) (years) Minimum: 30 days (0 year) Maximum: 15
Age** at Entry - Proposer (years) Minimum: 18 Maximum: 65
Age** at Maturity – Child (years) Minimum: 18 Maximum: 35
Premium Payment Term (years) 7 | 10 | 12
Policy Term (years) 15 to 25 (both inclusive) Policy Term will be subject to minimum and maximum maturity age of Child (Life Assured) as mentioned above
Premium Frequency Yearly / Half-Yearly / Monthly Premium for half-yearly mode will be 51% and monthly mode will be 8.50% of annualized premium
Premium (₹) Minimum: Yearly: 40,000 Half-Yearly: 20,400 Monthly: 3,400 Maximum: No limit (subject to board approved underwriting policy)
Sum Assured (₹) Minimum: 4,00,000 Maximum: No limit (subject to board approved underwriting policy)

**All the references to age are age as on last birthday.

Smart Future Star

Calculate Your Premium

Every chapter of your life comes with its own responsibilities. The right life insurance plan grows with you, supporting your goals and the ones you care about.

Based on your age, coverage, premium payment term and policy duration, discover a premium that fits your life.

Calculate Premium
1 Personal Details

Select Gender

Proposer Gender

Discount

2 Choose Your Policy Term...
Channel Type
  • Online
  • Web Aggregator
  • Broker
  • Corporate Agents
  • Individual Agent
  • Direct Marketing
  • Insurance Marketing Firms(IMF)
Policy Term
15 25
3 A little information about the premium options...
Premium Frequency Mode
  • Monthly
  • Half yearly
  • Yearly
Premium Paying Term
  • 7
  • 10
  • 12
Sum Assured
4 Lakh No Limit
This is a toast message!
Sum Assured
₹2,00,00,000
Premium Payment Term
10 Years
Policy Term
10 Years
Premium frequency
Yearly
Premium Amount (excluding taxes)
Yearly
Maturity Benefit

At assumed rate of returns**

₹2,00,00,000
Email This to Yourself
Or Download as a PDF
**In above illustrations, maturity benefit figures are for illustrative purposes & for healthy life. Please note that the assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates. The bonus rates are assumed constant during the bonus accrual period, whereas actual bonus could vary, depending on the investment experience of the company. These are not guaranteed and they are not higher or lower limits of returns. Returns are dependent on a number of factors including future investment performance

Frequently Asked Questions

SBI Life Smart Future Star can be purchased by parents, grandparents, or legal guardians of children. The guardian or parent must be between the ages of 18 and 65 years, and the child being enrolled must be between 30 days (0 years) and 15 years old.

To buy the Smart Future Star plan online, simply follow these steps:

  • Visit link
  • Navigate to the "Buy Now" or "Enroll" section.
  • Fill in the necessary details about yourself and the child, including personal information and contact details.
  • Choose the plan option and benefits that suit your needs.
  • Proceed to payment using a secure online method (credit/debit card, net banking, or UPI).
  • Once the payment is confirmed, you'll receive a policy confirmation along with the terms and conditions.

SBI Life Smart Future Star is designed to build a dedicated corpus over time for your child's higher education. By combining life cover and savings, it offers both protection and corpus accumulation, ensuring the necessary financial resources are available when your child is ready to pursue their goals Whether it's higher education or a future venture, this plan ensures their aspirations remain a priority, even during unforeseen circumstances.

SBI Life - Smart Future Star is an Individual, Non-Linked, Participating Life Insurance Savings Product designed to help parents secure their child's future financial needs such as education, marriage, or entrepreneurial ventures.

Policyholder can choose to defer receiving lumpsum Maturity Benefit amount by 1 to 7 years or take Maturity Benefit amount in monthly / quarterly / half-yearly / yearly instalments payable in arrears for a period of 2 to 7 years. Policyholder can also take part of Maturity Benefit as Lumpsum and rest in instalments payable in arrears.

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.

View All

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

*Tax Benefits:

Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. For further details, click here. Please consult your tax advisor for details.
WT/3X/ver1/02/26/WEB/ENG