New Smart Samriddhi

Assured Growth for The Life You Are Building

Your aspirations grow stronger with guaranteed certainty.  

Know about SBI Life – New Smart Samriddhi

UIN: 111N129V05 | Product Code: 2P

Guaranteed Additions^

Limited Premium Payment Periods

Easy Application

Know Your Life Insurance Plan

Features

Continuous Coverage: With the SBI Life New Smart Samriddhi plan, your coverage remains active for the full term. This ensures that your loved ones are supported with the comfort and security they need in the years ahead.
 
Guaranteed Additions^: The SBI Life - New Smart Samriddhi plan offers guaranteed yearly growth of 5.5 % or 6.0 %, allowing your policy to grow steadily over time. These additions help to build your wealth, giving you the confidence that your financial goals are on track and evolving as expected. The consistency of guaranteed growth ensures that your plan works for you as you plan for tomorrow.
 
Limited Premium Payment: With SBI Life - New Smart Samriddhi, you can make limited premium payments while still securing long-term coverage. Pay for just 6, 7 or 10 years and enjoy the benefit throughout the policy term of 12, 15 or 20 years, respectively. This flexibility ensures that you receive the full benefits of an enduring policy while maintaining financial ease. It is an ideal way to provide lasting assurance for your loved ones.
 
Reasonable Premium: SBI Life - New Smart Samriddhi premiums are designed to be affordable, ensuring that the plan grows alongside your aspirations. Whether you are looking to build a strong financial foundation for tomorrow or fund specific milestones, the reasonable premium structure ensures that the growth of your plan stays within your means while still delivering substantial benefits.

Advantages

Security: The SBI Life - New Smart Samriddhi plan offers a unique combination of coverage and savings, steadily building long-term security for you and your loved ones. This ensures that your family is secure while your savings grow, providing assurance throughout the entire policy term.
 
Simplicity: The seamless application process makes getting started simple and efficient. Your journey towards financial security with SBI Life - New Smart Samriddhi begins with clarity, allowing you to focus on building the life you envision.
 
Reliability: SBI Life - New Smart Samriddhi offers flexible premium payment options over 6, 7, or 10 years, with the benefits extending over 12, 15, or 20 years respectively. The limited premium payment option ensures long-term coverage while accrued guaranteed additions are added to the policy each year, gradually increasing the plan's benefits. By the end of the term, your coverage and savings are significantly enhanced.
 
Affordability: The SBI Life - New Smart Samriddhi plan offers a balance of coverage, and savings, adapting to your lifestyle and financial needs. It ensures that your coverage remains strong while also offering tax benefits*, enhancing your financial position. This supports both your present and your tomorrow.

Benefits

Maturity Benefit (for in-force policies):
On survival of the life assured till the end of the policy term, the Basic Sum Assured along with Accrued Guaranteed Additions^, as applicable, will be paid.
 
Death Benefit (for in-force policies):
In the unfortunate event of the death of the life assured at any time during the policy term, the Sum Assured on Death along with Accrued Guaranteed Additions^, if any, will be payable to the nominee/beneficiary.
 
Where the Sum Assured on Death is higher of the following:
Basic Sum Assured, or
10 times the annualized premium, or
105% of the total premiums paid@ up to the date of death.

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

 

^The Guaranteed Additions will be 5.5% for annualized premium less than Rs. 30,000 and 6.0% for annualized premium greater than or equal to Rs. 30,000. The Guaranteed Additions defined above is at a simple rate and not at compounding rates

Downloads

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

• Product Brochure/Prospectus

• Product Guide

• Policy Document

• Customer Information Sheet (CIS)




 

Who Can Buy?

Age** at Entry Minimum: 30 days Maximum: 50 years
Maximum Age** at Maturity 65 years
Policy Term 12, 15 & 20 years
Premium Payment Term (PPT) 6 years for policy term of 12 years 7 years for policy term of 15 years 10 years for policy term of 20 years
Premium Frequency Yearly / Monthly The monthly premium for monthly mode as percentage of annualized premium is 8.50% of annualized premium
Annualized Premium (in multiples of ₹1,000) Minimum Per policy ₹ 12,000 Maximum Per life limit ₹ 75,000 The maximum premium shall be as per board approved underwriting policy.
Basic Sum Assured (BSA) Minimum: ₹ 58,000 (Based on Minimum Premium) Maximum: ₹ 9,11,000*** (Based on Maximum Premium) The maximum Basic Sum assured allowed shall be as per board approved underwriting policy.

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

***However the maximum sum assured limit of INR 25,00,000 per life, across all policies of SBI Life insurance company sold through POSPs and CPSC-SPV would be applicable

Note: If the life assured is minor, date of commencement of policy and date of commencement of risk shall be same. If the life assured is minor, the policy term should be appropriately chosen so as to ensure that life assured will be at least 18 years (last birthday) as on the maturity date.

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.

Select Your Gender

Gender (Proposer)

Policy Term

Annual Premium
12,000 75,000

Premium Frequency

  • 6 Years
Sum Assured
₹2,00,00,000
Premium Frequency
Yearly
Premium Payment Term
10 Years
Policy Term
10 Years
Maturity Benefit
10 Years
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Frequently Asked Questions

SBI Life - New Smart Samriddhi offers life protection with savings. It provides long-term coverage for your loved ones while helping you build savings for future financial goals. The guaranteed additions allow your policy to grow steadily over time, providing both security and a foundation to pursue your aspirations.

The key benefits of the SBI Life - New Smart Samriddhi policy include continuous coverage throughout the policy term, guaranteed yearly additions that contribute to wealth accumulation, and the option to pay premiums over a limited period (6, 7, or 10 years) while enjoying long-term coverage of 12, 15 to 20 years respectively. The plan also offers tax benefits, providing a combination of security, growth, and financial planning support for the life you are building. To learn more about SBI Life - New Smart Samriddhi, contact our experts today.

The SBI Life- New Smart Samriddhi provides life protection throughout the policy term, ensuring that your family remains financially secure. It also offers the opportunity to accumulate wealth through guaranteed additions, making it a dual-purpose plan for both life cover and savings. These combined benefits keep your family secure while bringing your aspirations closer to reality.

The minimum and maximum ages for entry into SBI Life - New Smart Samriddhi are 30 days (0 years) and 50 years, respectively. The plan is available to individuals who want to secure long-term protection for their loved ones while also building wealth. It suits anyone looking to balance life insurance coverage with the opportunity for financial growth. It is ideal for those who want to actively shape their financial future and plan major life milestones.

SBI Life - New Smart Samriddhi offers flexibility, particularly in terms of premium payment options and coverage duration, within a structured framework. You can tailor the plan by choosing the premium payment term and coverage length that suits your needs. For guidance on available options, consult our experts today.

The SBI Life- New Smart Samriddhi plan offers valuable tax benefits. Premiums paid qualify for tax deductions under Section 80C of the Income Tax Act, helping you save on taxes while securing your financial future. The maturity benefits are tax-free under Section 10(10D). Your earnings work harder for you, supporting both wealth creation and the life you are building for the long term.

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^The Guaranteed Additions (GA) would apply on the cumulative premiums paid, which is the sum of the premiums paid by the policyholder till date, excluding taxes, rider premiums, underwriting extra premiums and loading for the modal premiums, if any, at the end of each policy year for in-force policies, at a simple rate.

 

It will be 5.5% for Annualized premium# less than Rs. 30,000 and 6.0% for Annualized premium# greater than or equal to Rs. 30,000.

 

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

 

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. For further details, click here.
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