SBI Life - Smart Swadhan Plus | Life Insurance Savings Plans

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SBI Life – Smart Swadhan Plus

UIN: 111N104V02

Product Code: 1Z


Securing happiness, assuring smiles.

  • Protection at reasonable cost
  • Refund of premiums
  • Multiple premium payment options
An Individual Non-linked Non-participating Life Insurance Savings Product with Return of Premium.

Are high premiums holding you back from getting that much-needed life insurance coverage?

Now get protection at a nominal cost, with the added benefit of getting your premiums back. With SBI Life – Smart Swadhan Plus, get guaranteed return of premiums and assurance of protecting your family.

This plan offers an array of benefits like –
  • Security – to meet your family’s needs in case of an eventuality
  • Reliability – through return of total premiums paid^
  • Flexibility –to choose the policy term and premium payment options
  • Simplicity – through easy application process

Try the benefit illustrator and get peace of mind, knowing that your family and you are covered adequately.
Start building a safer tomorrow by making small savings today.



Individual Non-linked Non-participating Term Assurance with Return of Premium Plan

Ali, a 33-year-old working professional, has ensured his family’s financial independence. And if life goes as planned, he has the added benefit of knowing he can receive a 100% return of premiums.

Fill in the form field to see how you too can benefit from this plan.




Male Female Third Gender


Yes No

Kerala Resident:

Yes No

A little information about the premium options...

Plan Type

Premium Frequency

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

Policy Term

10 30

Premium Payment Term

Sum Assured

5 Lakhs 250000000


Sum Assured

Premium frequency

Premium amount
(excluding taxes)

Premium Payment Term

Policy Term

Maturity Benefit

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  • Life insurance coverage
  • 100% return of total premiums paid^ at maturity
  • Option of regular, limited or single premiums and to choose policy term
  • Short application process


  • Protect your family’s future with life cover
  • Assurance of getting back the total premiums paid^ by you , on maturity
  • Freedom to decide your policy term and premium payment frequency as per your requirements
  • Enjoy a hassle-free enrolment process through a simplified proposal form
Avail tax benefits^^
^Total Premiums Paid is equal to total of all the premiums received, excluding any extra premium and applicable taxes.

Maturity Benefit (For In-force policies):
On survival of the Life Assured up to maturity, 100% of the total premiums paid during the policy tenure, will be paid in a lump sum.

Death Benefit (For In-force policies):
In the unfortunate event of death of the Life Assured, Sum Assured on Death will be payable to the beneficiary.


Sum Assured on death:
For Single Premium (SP) Policies: Higher of (Basic Sum Assured# or 1.25 times of Single Premium)

For Limited Premium Payment Term (LPPT) / Regular Premium (RP) Policies: Higher of (Basic Sum Assured# or 10 times of Annualized Premium##  or 105% of the total premiums received upto the date of death)


#Basic Sum Assured is the absolute amount of benefit chosen by the policy holder at the inception of the policy.

## Annualized Premium is the premium amount payable in a year chosen by the policyholder, excluding the applicable taxes, underwriting  extra premiums and loadings for modal premiums, if any.


For more details on risk factors, terms and conditions of SBI Life - Smart Swadhan Plus, read the following documents carefully.

* Age mentioned in this document is age last birthday on the date of proposal
**For Monthly mode, 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), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction.

1Z.ver.01-11-19 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 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. You may visit our website for further details here.

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