IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Retire Smart Plus

Build A Retirement Without Compromise

Buy Now

Retirement supported with lasting confidence

Know about SBI Life - Retire Smart Plus

UIN: 111L135V02 | Product Code: 2Y

Retirement Corpus Creation

Loyalty Additions

Flexible Fund Options

Know Your Life Insurance Plan

Features

Flexible Fund Choice: With seven diverse fund options at your fingertips, you can choose the path that best aligns with your comfort level. Whether you're a cautious investor or someone ready to embrace more growth potential, SBI Life - Retire Smart Plus - gives you the flexibility to invest in a way that matches your goals.
 
Retirement Corpus: Your consistent planning today helps build the life you have aspired towards. SBI Life - Retire Smart Plus plan’s maturity benefit ensures you have the corpus you need when you need it most, ensuring that you get to enjoy the retirement you've always imagined.
 
Loyalty Additions to boost maturity value: Build a stronger financial foundation as your fund grows throughout the policy term. Your SBI Life - Retire Smart Plus policy Fund Value continues to grow with Loyalty Additions, added to your fund every year, starting from the end of the 15th policy year. In addition, a Terminal Addition of 1.5% of your Fund Value at maturity ensures that your savings keep pace with your ambitions
 
Flexible Options: Whether you prefer a Single Premium, want to pay premiums regularly, or opt for a limited period, the choice is yours. Plus, SBI Life - Retire Smart Plus unlimited free switches allow you to adjust your investment strategy at any time during the policy term, ensuring your plan stays in step with you.

Advantages

Security: With SBI Life - Retire Smart Plus, you can look forward to a future backed with financial confidence. Your financial needs remain secure, letting you enjoy this chapter with confidence
 
Reliability: Your investment grows stronger over time with SBI Life - Retire Smart Plus.
• Fund Value is boosted through:
• Loyalty Additions# payable every year starting from end of 15th Policy year.
• Terminal Addition^ of 1.5% of the Fund Value
 
Flexibility: Life evolves, and your SBI Life - Retire Smart Plus plan evolves with it.
• Option to Increase the Policy Term for Single Premium Policies
• Option to Increase the Premium Paying Term and/or Policy Term for Regular and Limited Premium paying term
• Option to change Limited Premium Payment Term to Regular Premium Payment Term
• Option to extend/ defer the vesting date
• Avail tax benefits*

#Please refer section on Loyalty Addition of sales literature for more details.

^Please refer section on Terminal Addition of sales literature for more details.

Plan Benefits

Maturity/Vesting Benefit
On survival of the Life Assured till the end of the policy term, provided the policy is in force, you will receive:
Fund Value as on the date of Maturity/Vesting plus Terminal Addition&
&Terminal Addition is 1.5% of the Maturity/Vesting Fund Value.
 
Ways to Utilize the Corpus:
You will have the following options on Maturity/Vesting:
i. To utilise the entire proceeds to purchase immediate annuity or deferred annuity from us at the then prevailing annuity rate. However, you will be given an option to purchase immediate annuity or deferred annuity from any other insurer at the then prevailing annuity rate to the extent of percentage stipulated by Competent Authority, currently 50% of the entire proceeds of the policy net of commutation.

OR

ii. To commute up to 60% and utilize the balance amount to purchase immediate annuity or deferred annuity from us at the then prevailing annuity rate. However, you shall be given an option to purchase immediate annuity or deferred annuity from any other insurer at the then prevailing annuity rate to the extent of percentage stipulated by Competent Authority, currently 50% of the entire proceeds of the policy net of commutation.

OR

iii. To extend the accumulation period or deferment period within the same policy with the same terms and conditions as the original policy, provided you are below an age of 60 years.

For (i) and (ii) above, the purchase of annuity shall be subject to terms and conditions under the product

In case the proceeds of the policy are not sufficient to purchase the minimum annuity as defined in Clause 5 of Schedule I of IRDAI (Insurance Products) Regulations, 2024, as amended from time to time, such proceeds of the policy shall be paid to you or beneficiary as a lump sum.

The maximum extended period will be up to age 70 years, subject to maximum policy term allowable under the product of 35 years. On extension of accumulation period or deferment of the vesting date, the entire proceeds will continue to be invested in the segregated funds as per the allocation chosen by the policy holder.
 
Death Benefit
In case of an unfortunate event of death of the Life Assured while the policy is in force, higher of A or B is payable, where A & B are as given below:

A: Fund Value as on the date of intimation of death claim plus Terminal Addition&

B: 105% of the Total Premiums Paid^ up to the date of death

^Total Premiums Paid means the total of all the premiums received under the base product, including top-ups premiums paid, if any.

&Terminal Addition is 1.5% of the Fund Value as on the date of intimation of death claim.

Downloads

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

• Product Brochure/Prospectus

• Policy Document

• Product Guide

• Customer Information Sheet (CIS)
 

Who Can Buy?

Age# at Entry Minimum: 20 years Maximum: 60 years
Age# at Maturity/Vesting Minimum: 30 years Maximum: 70 years
Premium Payment Option Regular Premium / Limited Premium / Single Premium
Premium Payment Term and Corresponding Policy Term Premium Payment Option Premium Payment Term (Years) Policy Term (Years)
Single Premium One time / Single payment at policy inception 10 to 35 (both inclusive)
Regular Premium Same as policy term
Limited Premium 5 to 8 (both inclusive) 10 to 35 (both inclusive)
10 15 to 35 (both inclusive)
15 20 to 35 (both inclusive)
Premium Range (in ₹) Premium Payment Option Minimum (₹) Maximum (₹)
Regular Premium Yearly - 30,000 Half Yearly - 15,000 Monthly - 3,000 No Limit, as per board approved underwriting policy
Limited Premium Yearly - 40,000 Half Yearly - 20,000 Monthly - 5,000
Single Premium 1,00,000
Premium Frequency Single / Yearly / Half-yearly / Monthly

#All the references to age are age as on last birthday.

SBI Life - Retire Smart Plus

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.

Sum Assured
Premium Frequency

Premium Amount

Policy Term
Premium Payment Term
Maturity Benefits At assumed rate of returns**
@ 4%
or
@ 8%

    Frequently Asked Questions

    The minimum entry age for SBI Life Retire Smart Plus is 20 years, and the maximum entry age is 60 years.
    We help you build the future you envision as you approach retirement, providing the stability need for your later years.

    Your maturity benefit for Retire Smart Plus reflects the years of commitment you've put into your retirement planning. It is calculated based on the following:

    Fund Value as on the date of Maturity/Vesting plus Terminal Addition&

    & Terminal Addition is 1.5% of the Maturity/Vesting Fund Value

    The Retire Smart Plus plan offers the following fund options to match your comfort level and goals:

    • Equity Pension Fund (SFIN: ULIF006150107PEEQITYFND111)
    • Equity Optimiser Pension Fund (SFIN: ULIF011210108PEEQOPTFND111)
    • Growth Pension Fund (SFIN: ULIF008150207PEGRWTHFND111)
    • Top 300 Pension Fund (SFIN: ULIF018180110PETP300FND111)
    • Balanced Pension Fund (SFIN: ULIF009210207PEBALANFND111)
    • Bond Pension Fund (SFIN: ULIF007160107PENBONDFND111)
    • Money Market Pension Fund (SFIN: ULIF013200308PEMNYMTFND111)

    To know more about the fund options available, speak to our experts today.

    Yes, as SBI Life - Retire Smart Plus is a ULIP Pension Product, there is a lock-in period of 5 years from the policy start date. After this period, partial withdrawals are allowed in case of financial emergency, only for specified reasons / circumstances as per policy terms. This ensures that your commitment to your long-term goals are protected. Please refer section Partial Withdrawal in Sales Brochure for more details

    View All

    **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.

    Unit Linked Life Insurance products are different from the traditional products and are subject to market risks. The premium paid in Unit Linked policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder is responsible for his/her decisions.

    SBI Life Insurance Co. Ltd. is only the name of the insurance company and SBI Life – Retire Smart Plus is the name of the unit linked Life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risk and applicable charges from your Insurance Advisor or the intermediary or the policy document from the insurer.

    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, their future prospects or returns.

    Past performance of the Fund Options is not indicative of future performance. All benefits payable under this policy are subject to tax laws and other fiscal enactments in-effect from time to time, please consult your tax advisor for details.

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

    *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 contact your tax advisor for any further queries on taxation implications.
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