Smart Money Back Saver

Supporting Milestones with Guaranteed Returns

Regular returns, enduring security, all in one product.

Know about SBI Life – Smart Money Back Saver

UIN: 111N176V01 | Product Code: 4D

Periodic Payouts During The Policy Term
Combines Savings With Insurance
Life Cover For Financial Protection

Know Your Life Insurance Plan

Features

Periodic Cash Payouts: SBI Life - Smart Money Back Saver delivers regular cash payouts at predetermined intervals throughout your policy term, ensuring you have funds when life's important moments arrive. These periodic returns bring financial support when major expenses require attention. The money-back insurance policy structure allows you to access funds without disrupting your long-term savings.
 
Total Survival Benefit of 130% of the Sum Assured along with Bonuses^: Over the policy term, structured payouts deliver a total survival benefit amounting to 130% of the Sum Assured through increasing returns of 10%, 15%, 25%, and 35% of the Sum Assured at defined periodic intervals, followed by a final payout of 45% of the Sum Assured along with Bonuses at maturity. As a participating money-back life insurance plan, reversionary bonuses, if declared & terminal bonus, if any enhance the overall value you accumulate, strengthening the foundation you are building for your loved ones.
 
Disciplined Savings Through Regular Premiums: The regular premium payment structure encourages consistent financial discipline, helping you build wealth systematically. By aligning premium payments with the policy duration, this Smart Money Back Saver creates a sustainable savings rhythm that fits within your financial capacity.
 
Policy Term of 20 to 25 Years: SBI Life - Smart Money Back Saver offers policy terms ranging from 20 to 25 years, ensuring your money-back insurance policy aligns with major long-term financial objectives. This extended duration works in harmony with your timeline, supporting you as your priorities evolve over the years.
 
Premium Discounts for Higher Sum Assured: Choosing a higher Sum Assured brings premium discounts, making extensive coverage more accessible while delivering periodic payouts and strengthened life coverage.
 
Enhanced Coverage with optional SBI Life - Accident Benefit Rider&: SBI Life - Smart Money Back Saver’s comes with an optional SBI Life - Accident Benefit Rider adds extra security, providing additional coverage in case of accidental loss of life or disability in the event of an accident, ensuring your family receives deeper support when circumstances require it.
 
Tax Benefits Under Prevailing Norms^^: Premiums paid may qualify for deductions under Section 80C, while maturity benefits and periodic payouts may be exempt under Section 10(10D), subject to conditions. This offers you the liberty to contribute towards your family's goals to a greater extent.

^ Includes Vested Reversionary Bonus if declared, plus Terminal Bonus, if any.

^^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.

 

&SBI Life – Accident Benefit Rider (UIN: 111B041V01), Option A: Accidental Death Benefit (ADB) and Option B: Accidental Partial Permanent Disability Benefit (APPD)

Advantages

Security: Life insurance coverage provides financial support for your family, ensuring they can continue their journey with dignity and independence should circumstances require it. This means the life you have built together remains intact, allowing your loved ones to move forward with confidence knowing they are secure.
 
Flexibility: Disciplined savings through regular premium payment terms in this money-back plan create a sustainable pattern that adapts to your financial capacity and evolving needs. This structured approach provides consistency and clarity, giving you the ease to focus on other priorities while your plan continues working for your family's tomorrow.
 
Simplicity: Periodic cash payouts based on your chosen policy term arrive at predetermined intervals, bringing clarity to your financial planning. Premium discounts for higher Sum Assured make extensive coverage more accessible, ensuring the security your family needs remains within reach as your responsibilities grow.
 
Reliability: A total survival benefit of 130% of the Sum Assured is delivered through increasing payouts of 10%, 15%, 25%, and 35% at periodic intervals, followed by a final payout of 45% of the sum assured at maturity, along with bonuses^. This money-back insurance policy structure ensures returns arrive consistently throughout your policy term, rewarding your sustained commitment and strengthening the financial foundation that supports your loved ones.

^Includes Vested Reversionary Bonus if declared, plus Terminal Bonus, if any.

Plan Benefits

 
Bonus
Being a participating product, this policy shall participate in the profits arising out of the company's 'with profits' life insurance business. 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. Terminal bonus, if declared, would become payable in the policy year when the policy results into a claim either by death, surrender or maturity. Reversionary bonus would be expressed as a percentage of Sum Assured and Terminal bonus would be expressed as a percentage of accrued Reversionary bonuses

Survival Benefits
The Survival Benefits instalments expressed as a fixed percentage of Sum Assured are payable on survival of Life Assured till the end of specified policy years during the policy term, subject to policy being in-force.

Maturity Benefits
On survival of Life Assured till the end of the policy term, provided the policy is in force, Sum Assured on Maturity plus Vested Reversionary Bonus if declared, plus Terminal Bonus, if any, is payable as a lumpsum.
Where Sum Assured on maturity is the last survival benefit instalment which is equal to 45% of Sum Assured

Death Benefit
In the unfortunate event of death of Life Assured during the policy term, provided the policy is in-force, Death Benefit is payable as lump sum, which is higher of the following:
Sum Assured on Death plus Vested Reversionary Bonuses, if declared plus Terminal Bonus, if any
105% of the Total Premiums Paid## up to the date of death

where Sum Assured on Death is higher of Sum Assured$ or 11 times of Annualized Premium***
Death Benefit mentioned above is payable irrespective of Survival Benefits already paid, if any
 
Tax Benefits*: Income tax benefits/exemptions are 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

##Total Premiums Paid means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly.

$The Sum Assured is the absolute amount of benefit chosen by the policyholder at the inception of the policy.

***Annualized premium shall be the premium amount payable in a year, excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premium.

Downloads

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

• Product Brochure/Prospectus

• Product Guide

• Product Document

• Customer Information Sheet (CIS)

• SBI Life - Accident Benefit Rider Brochure/Prospectus

• SBI Life - Accident Benefit Rider Policy Document

• SBI Life - Accident Benefit Rider - Customer Information Sheet (CIS)
 

Who Can Buy?

Age at Entry (age last birthday) Minimum: 30 Days# Maximum: 45 Years
Age at Maturity (age last birthday) Minimum: 20 Years Maximum: 70 Years
Sum Assured Minimum: ₹3,00,000 Maximum: No limit; subject to Board Approved Underwriting Policy.
Premium Payment Term & Policy Term Premium Payment Term Policy Term
Regular Premium (Same as policy term) 20-25 Years
Premium Frequency Yearly/ Half-Yearly/ Monthly The premiums for Half-Yearly & Monthly frequencies will be calculated as: Half-Yearly: 51.00% of Annualized Premium Monthly: 8.50% of Annualized Premium
Premium Amount Premium Frequency Minimum** Maximum
Yearly 18,000 No Limit, subject to Board Approved Underwriting Policy.
Half -Yearly 10,000
Monthly 2,000
Rider SBI Life - Accident Benefit Rider: (UIN: 111B041V01) Option A: Accidental Death Benefit (ADB) Option B: Accidental Partial Permanent Disability Benefit (APPD)

**Premium amounts exclusive of underwriting loadings and rider premium, if any.

#If the life assured is minor, date of commencement of policy and date of commencement of risk shall be same and the policyholder/proposer can be parents, grandparents or legal guardian. This shall be as per our Board approved underwriting policy. The policy shall vest in the life of the minor insured once he / she attains majority i.e. 18 years

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.

1 Personal Details

Select Your Gender

Discount

Proposer age must be greater than 18 and less than 70

Gender(Proposer)

2 Let's finalize the policy duration you are comfortable with...
Choose a State
  • ANDAMAN AND NICOBAR
  • ANDHRA PRADESH
  • ARUNACHAL PRADESH
  • ASSAM
  • BIHAR
  • CHANDIGARH
  • CHHATTISGARH
  • DADRA AND NAGAR HAVELI
  • DAMAN AND DIU
  • DELHI
  • GOA
  • GUJARAT
  • HARYANA
  • HIMACHAL PRADESH
  • JAMMU AND KASHMIR
  • HIMACHAL PRADESH
  • JHARKHAND
  • KARNATAKA
  • KERALA
  • LAKSHADWEEP
  • MADHYA PRADESH
  • MAHARASHTRA
  • MANIPUR
  • MEGHALAYA
  • MIZORAM
  • NAGALAND
  • ODISHA
  • PUDUCHERRY
  • PUNJAB
  • RAJASTHAN
  • SIKKIM
  • TAMIL NADU
  • TELANGANA
  • TRIPURA
  • UTTAR PRADESH
  • UTTARAKHAND
  • WEST BENGAL
Choose a Channel
  • Individual Agents
  • Corporate Agents
  • Direct Marketing
  • Online
  • Web Aggregator
  • Broker
  • Insurance Marketing Firms (IMFs)
3 A little information about the premium options...

Premium Payment Option

Premium Frequency

Policy Term
20 25
Sum Assured
300000 No Limit
Premium Paying Term
  • 20
4 SBI Life- Accident Benefit Rider (111B041V01)
Term for ADB Rider
10 20
ADB Rider Sum Assured
50,000 2,00,00,000
Term for APPD Rider
10 20
APPD Rider Sum Assured
50,000 1,50,00,000
  • ⓘ Please fill out your Name to proceed.
  • ⓘ Enter a valid calendar date for Assured's DOB.
  • ⓘ Please fill out Proposer's to proceed.
  • ⓘ Enter a valid calendar date for Proposer's DOB.
  • ⓘ Please fill out Choose a State to proceed.
  • ⓘ Please fill out Choose a Channel to proceed.
Sum Assured
₹50000
Premium Payment Term
10 Years
Maturity Benefit

At assumed rate of returns**

@ 4% ? 0

or

@ 8% ? 0

Email This to Yourself
**Assumed rates of returns @4% and @8% p. a., are only illustrative scenarios at these rates after considering all applicable charges. These are not guaranteed and they are not higher or lower limits of returns. Unit Linked Life Insurance products are subject to market risks. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans and their future prospects or returns.

Frequently Asked Questions

SBI Life – Smart Platina Advantage is a Non-linked, Non-participating, Life Insurance Savings Product that combines life insurance coverage with the benefits of savings. By paying premiums, you receive life insurance coverage along with guaranteed benefits payable at maturity, as defined under the policy terms. The product supports thoughtful planning for your loved ones while building predictability into your savings over time. This makes it a suitable choice for those seeking clarity and certainty in their long-term planning.

SBI Life - Smart Platina Advantage is structured independently of market-linked performance, ensuring that the value of your policy remains unaffected by market fluctuations. It provides guaranteed life coverage and a sum assured at maturity. The product also gives you the flexibility to choose how you want to receive maturity benefit, in lumpsum or in instalments up to 7 years, making it adaptable to your situation. The focus remains on offering guaranteed benefits with certainty you can rely on.

SBI Life - Smart Platina Advantage offers life coverage for your loved ones and a solid savings option. Additionally, SBI Life - Smart Platina Advantage includes benefit enhancement through guaranteed additions, which further improves the value of your policy. It serves as more than life insurance; it is a policy designed to support long-term planning. By selecting the right premium payment option, you gain flexibility while ensuring long-term stability.

Yes, SBI Life – Smart Platina Advantage guarantees a sum assured at maturity, along with guaranteed additions, as defined under the policy terms. Guaranteed Additions are accrued at the end of each policy year, helping build a predictable maturity value over a policy term of 15, 20, or 30 years, aligned with long-term financial planning needs.

The maturity amount for SBI Life - Smart Platina Advantage is sum assured on maturity along with guaranteed additions accrued throughout the term of your policy. This amount is fixed and will be provided to you at maturity. You can easily calculate this amount with the help of the premium calculator on the SBI Life - website or by consulting our expert.

SBI Life - Smart Platina Advantage product can be purchased online through a seamless process. You can easily enter your details, choose your premium payment option and complete the KYC process all on the SBI Life - website. Once done, you will receive your policy document electronically. From the beginning, your planning journey is made secure by us. Visit the SBI Life - website to begin your application today.

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For more details on Riders, terms and conditions please read rider brochure.

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

 

^^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.
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