What is SBI Life -Smart Platina Supreme Plan?
SBI Logo

Join Us

Tool Free 1800 22 9090

What is SBI Life -Smart Platina Supreme Plan?

Insurance Basics & Financial Advice Life throws surprises, some delightful and others challenging. The ability to secure your family's future and fulfill your dreams is essential. That’s where SBI Life - Smart Platina Supreme steps in, offering guaranteed returns and peace of mind. So, what is SBI Life - Smart Platina Supreme Plan? Here are all the details you wanted.

What is SBI Life -Smart Platina Supreme Plan?

8 Minute |

What is SBI Life -Smart Platina Supreme Plan?

SBI Life - Smart Platina Supreme: An Overview

Life throws surprises, some delightful and others challenging. The ability to secure your family's future and fulfill your dreams is essential. That’s where SBI Life - Smart Platina Supreme steps in, offering guaranteed returns and peace of mind. So, what is SBI Life - Smart Platina Supreme Plan? Here are all the details you wanted.

What are the Features of SBI Life - Smart Platina Supreme?

SBI Life - Smart Platina Supreme is an individual, non-linked, non-participating life insurance savings product. This plan ensures financial security and caters to diverse savings needs. Here’s what makes it unique.

Security

This plan protects your family with financial support in case of unforeseen circumstances. This policy provides life cover during the policy term and guaranteed income during the payout period.

Flexibility

One of the key features of SBI Life - Smart Platina Supreme is the flexibility it offers. Choose premium payment terms, frequency, policy period, and payout period based on your goals. This flexibility allows you to align the plan with your financial milestones effortlessly.

Maturity Benefit

At the end of the policy term, you receive maturity benefit in the form of a guaranteed payout during the payout period & 110% of your total premiums paid at the end of the payout period, subject to the terms & conditions of the policy, ensuring you achieve your financial goals.

SBI Life - Accident Benefit Rider

Enhance your plan with the SBI Life - Accident Benefit Rider for additional protection. This rider covers accidental death and accidental partial permanent disability, offering your loved ones extra security. The rider requires an additional premium.

Enhanced Guaranteed Income for Higher Premiums

Pay higher premiums to unlock increased guaranteed incomes. For example, a ₹3,00,000 premium for a 45-year-old, healthy individual may result in an annual payout of ₹3,71,972, based on the level guaranteed income option and policy term & payout period.

Loan Against Policy Available

Need funds during emergencies? You can borrow against your policy without compromising its benefits. Note that loans reduce your policy’s payout benefits and are subject to surrender value.

Benefits of SBI Life - Smart Platina Supreme Plan

This guaranteed returns savings plan offers unique benefits tailored for different life stages.

Level Guaranteed Income

One of the benefits of SBI Life - Smart Platina Supreme Plan is receiving a fixed income every year during the payout period. For example, a ₹50,000 annual premium paid for 10 years with a policy term of 15 years for a 30-year-old, healthy individual can ensure a consistent payout of ₹66,925 for 15 years, providing stable financial support.

Increasing Guaranteed Income

This plan boosts payouts that increase by 5% simple interest annually as a guaranteed income. This makes it perfect for tackling inflation. For instance, ₹1,00,000 annual payout in the first year will increase to ₹1,05,000 in the second year and continue to grow. The total benefit depends on the payout period and selected premium.

Death Benefit (For In-force Policies)

In case of the life assured's death during the policy term, the death benefit will be paid to nominees. If death occurs after the policy term, the policy guarantees lump sum payouts to beneficiaries. This ensures your family’s financial security.

Who Can Buy?

The SBI Life - Smart Platina Supreme Plan is designed for individuals across various life stages, making it suitable for a wide audience.

  • Below 25 years: Students and young professionals starting their first job, focusing on education and career growth.
  • 25–35 years: Early professionals or newly married individuals managing households and planning financial stability.
  • 35–45 years: Parents planning for their children’s education and securing their family’s future.
  • 45–55 years: Individuals preparing for retirement and ensuring ongoing financial stability for their loved ones.
  • 55+ years: Retired individuals or empty nesters seeking financial independence and legacy building.

How Does SBI Life - Smart Platina Supreme Work?

The SBI Life - Smart Platina Supreme Plan is designed to provide both savings and life insurance protection in one plan. You begin by selecting a premium payment term and frequency, a policy term, and a payout period with frequency that suits your financial goals. Throughout the policy term, life insurance coverage ensures your loved ones are financially secure in case of unforeseen events.

During the payout phase, you’ll receive guaranteed income, which can be customised to a level or increasing income along with income frequency depending on your needs.

Why Choose SBI Life - Smart Platina Supreme?

This plan is designed to deliver simplicity and reliability, making it a standout choice for individuals across various life stages. Offering guaranteed returns and flexible terms, it helps secure your financial future while allowing you to tailor the plan to meet specific goals. Whether you’re saving for your family’s needs, planning for retirement, or ensuring your loved ones are financially protected, this plan adapts to your requirements seamlessly. Backed by the trusted name of SBI Life Insurance, it ensures transparency, consistent support, and dependable payouts, making it a preferred guaranteed benefit plan for securing your peace of mind and financial stability.

Income Tax Benefits under SBI Life - Smart Platina Supreme

The SBI Life - Smart Platina Supreme Plan not only secures your financial future but also offers significant 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. Please consult your tax advisor for details.

Frequently Asked Questions

Who can buy SBI Life - Smart Platina Supreme?

Anyone between the ages of 3 and 60 years can purchase this plan, ensuring a wide range of eligibility across life stages.

What are the Plan Options available under SBI Life - Smart Platina Supreme?

The plan offers options like Level Guaranteed Income and Increasing Guaranteed Income to suit your financial needs.

What are the Premium Payment Terms under SBI Life - Smart Platina Supreme?

You can select from flexible terms, such as 7, 8, or 10 years, based on your financial goals and savings capacity.

What is the Pay-out period under SBI Life - Smart Platina Supreme?

The payout period offered is 15, 20, 25, or 30 years, ensuring long-term financial stability for policyholders.

What is a Guaranteed Return Insurance Plan?

A guaranteed return insurance plan is a dual-purpose financial product that combines life insurance coverage with assured payouts. This type of plan guarantees a fixed amount, at regular intervals and/or as a lump sum, depending on the chosen policy structure. It provides a dependable savings option while simultaneously ensuring financial security for your family through life cover.

Is it good to invest in a guaranteed return plan?

Yes, investing in a guaranteed return plan is an excellent choice for those seeking stability in returns along with life insurance coverage. These plans are particularly beneficial for long-term financial goals, such as saving for children’s education, retirement, or legacy building.

TOOLS & CALCULATORS Pages

Human Life Value Calculator

Here’s a tool that shows your financial preparedness towards any eventuality, so that your family never loses its smile even when you are not around.

Plan Now

Child Education Planner

To help you determine investments you need to make regularly in order to fulfill your little one's dream

Plan Now

Retirement Planner

To help you continue celebrating your life post-retirement to the fullest, a tool that helps you plan for your retirement days better!

Plan now

Need Analysis Planner

A holistic life planner that suggests the right amount of insurance and plans based on your unique needs.

Plan Now