Smart Income Protect | Money Back Insurance Plan | SBI Life Insurance

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SBI Life – Smart Income Protect

UIN: 111N085V04

Product Code: 1B

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SBI Life Smart Income Insurance Premium Details

into achievements
with a regular

An Individual,Non-linked, participating life insurance savings product

Your dreams and responsibilities, both keep changing at various points of life. With SBI Life-Smart Income Protect, you can enjoy a regular income which will help you accomplish both the major and minor milestones while safeguarding your family's financial stability

Key Features :
  • Dual features of Insurance Cover and Regular Income.
  • Guaranteed annual payouts*
  • Enhance your coverage through three rider options at a nominal cost


SBI Life Smart Income Protect

Non-linked participating life insurance plan

plan profile

Mittal, a businessman by profession, will receive regular income in the future and is assured that his family will be financially secured.

Enter the form fields below to see how you too can benefit from the SBI Life - Smart Income Protect Plan.




Male Female


Staff None

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

Policy Term

Maturity Benefit Option


A little information about the premium options...

Premium Frequency

Sum Assured

1 Lakh 250000000

Let's finalize the rider options...

SBI Life - Preferred Term Rider (UIN:111B014V02):

Term for preferred Term Rider

Preferred Term Rider Sum Assured

25,000 50,00,000

SBI Life - Accidental Death Benefit Rider (UIN:111B015V03):

Term for ADB Rider

ADB Rider Sum Assured

25,000 50,00,000

SBI Life - Accidental Total & Permanent Disablity Benefit Rider (UIN:111B016V03):

Term for ATPDB Rider

ATPDB Rider Sum Assured

25,000 50,00,000

sum assured

Sum Assured

plan profile

Premium frequency

Premium amount
(excluding taxes)

premium paying

Premium Paying Term

policy term

Policy Term

maturity benefits

Maturity Benefit Exclaim

At assumed rate of returns** @ 4%

@ 8%

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  • Life cover throughout the policy term
  • Vested reversionary bonuses plus terminal bonus, if any, paid as lump sum at maturity
  • Annual income of 11% of Basic Sum Assured over a period of 15 years after maturity
  • Policy term of 7, 12 or 15 years
  • Three rider options





  • Ensure your family’s financial needs are met


  • Regular annual income to meet your obligations, with an option to receive the same as a lump sum, at maturity


  • Choose the policy term based on your financial needs
  • Enhance your coverage through three rider options at an nominal cost
    • SBI Life - Preferred Term Rider
    • SBI Life - Accidental Death Benefit Rider
    • SBI Life - Accidental Total and Permanent Disability Benefit Rider

Avail tax benefits*

On Maturity:

  • You get Vested Reversionary Bonuses plus Terminal Bonus, if any, at maturity
  • You will be paid yearly payouts equal to 11% of basic Sum Assured for next 15 years after maturity. This period of 15 years is your payout period. The first instalment will be paid at the end of first year during the payout period.
  • Alternatively, you have an option to receive the maturity benefit as lump sum, The maturity benefit in this case would be guaranteed sum assured at maturity which will be 110% of basic sum assured plus vested reversionary bonuses plus terminal bonus, if any.

On Death:

  • In the unfortunate event of death of life assured during the policy term, the nominee will receive higher of (A,B), where:

A = Sum Assured on death + Vested Reversionary Bonuses + Terminal bonus, if any.

Where Sum Assured on Death is Guaranteed sum assured at maturity@@ or 10 times of annualized premium@

B = Minimum death benefit which is equal to 105% of total premiums received upto date of death.

Where Total Premiums received/paid means total of all the premiums received, excluding any extra premium, any rider premium and applicable taxes.

@Annualized premium shall be the premium amount payable in a year chosen by the policyholder, excluding applicable taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any

@@The guaranteed sum assured at maturity is 110% of the basic sum assured

In case of death during the payout period, all future payouts will continue to be paid to the nominee or legal heir.
SBI Life Smart Income Protect Details
*The maximum sum assured would be subject to board approved underwriting policy. The maximum premium would be based on the sum assured offered.
^All the references to age are age as on last birthday.
#Upto 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card) For Monthly Salary Saving Scheme (SSS), upto 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction


**Assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates after considering all applicable charges. The bonus rates are assumed constant during the bonus accrual period, where as 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.

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

*Tax Benefit:

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.