SBI Life - Grameen Bima | Family Term Insurance Plans

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SBI Life - Grameen Bima

UIN: 111N087V02

Product Code: 1F

Pure Term Micro Insurance Plan

Life insurance at an affordable cost.

  • Option to choose your premium
  • Simple registration procedure
  • No medical examination
An Individual, Non-Linked, Non-Participating, Microinsurance Life Insurance Pure Risk Premium Product

Are high insurance premiums holding you back from securing your family’s financial future?

Protect your family at an affordable cost with SBI Life – Grameen Bima. SBI Life – Grameen Bima is an Individual, Non-Linked, Non-Participating Microinsurance Life Insurance Pure Risk Premium Product that helps you provide financial security for your family at reasonable costs.

The SBI Life – Grameen Bima policy offers –
  • Security – ensure your family is financially secure in the future
  • Simplicity – with easy application processes
  • Affordability – through plan benefits at nominal premiums

Try our Premium Quotation below to see how the plan can help you secure your family’s future.


Pure Term Micro Insurance Plan

SBI Life Grameen Bima

Arvind, a labourer, secured the future of his wife and three children with this affordable term plan.

Fill the form fields in the Benefit Illustrator below to understand the benefits of SBI Life – Grameen Bima.



Let's finalize the policy duration you are comfortable with...

Policy Term

A little information about the premium options...

Premium Frequency Mode

Premium Amount

300 2000


Sum Assured

Premium frequency

Premium amount
(excluding taxes)

Policy Term

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  • Life cover with one time premium payment
  • Simple registration procedure with no medical examination required
  • Choose from a range of premiums in multiples of 100


  • Safeguard your family’s financial security
  • Benefits at a nominal premiums
  • Hassle-free enrolment based on declaration of good health
Avail tax benefits*
Death Benefit:

In the unfortunate event of death of the life assured during the policy term, the nominee or legal heir will receive the Sum Assured on death as lump sum.
Where the sum assured on death would be higher of Basic Sum Assured OR 1.25 times of Single Premium

Maturity Benefit:

There is no maturity benefit under this product.

Surrender Benefit:
  • Surrender is allowed after the first year of cover.
  • No surrender benefit is payable in the last year of the policy.
    The surrender value payable will be:
    Single Premium Paid (exclusive of applicable taxes) * 50% * Unexpired policy term / Total Term
     1) Term is measured in completed months.
     2) Unexpired term would be the total policy term in months less the completed number of months as on date of surrender.
For more details on risk factors, terms and conditions of SBI Life – Grameen Bima, read the following documents carefully.
* All references to age are age as on last birthday

^Aggregate Basic Sum Assured under this plan will be capped at Rs. 50,000 for each life.

1F.ver.01-01-20 WEB ENG

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding 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 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 here. Please consult your tax advisor for details.