Smart Bachat Plus

Shape Your Tomorrow with The Assurance of Savings

Buy Now

Savings that support you, at every turn life takes. 

Know about SBI Life – Smart Bachat Plus

UIN: 111N170V01 | Product Code: 4A

Life Cover with Regular Bonuses(if declared),

Flexibility in Premium Payment
Optional Accidental Death and Accidental Total Permanent Disability (AD&ATPD) benefit.

Know Your Life Insurance Plan

Features

Coverage Options: Your family's needs and your personal goals both call for support that adapts to your circumstances. SBI Life - Smart Bachat Plus offers two benefit options at inception:
Option A: Life - combines life coverage with savings through regular revisionary bonuses,
Option B: Life Plus - along with benefits under Life option, you get extended coverage in cases of accidental total permanent disability or accidental loss of life. This provides deeper reassurance for those who want thorough support for their loved ones.
 
Added Benefits: The foundation you build today continues to grow over time. At the end of your SBI Life - Smart Bachat Plus policy term, a Lum sum benefit is available, reflecting both the sum assured and the bonuses earned. This rewards your commitment and provides financial support for future requirements.
 
Payment Flexibility: SBI Life - Smart Bachat Plus premiums can be paid over the full policy term or a shorter duration of 7, 10 or 15 years, offering adaptability to your needs. This ensures your financial commitments suit your earning pattern, allowing you to plan with confidence.
 
Tax Benefits: You may be eligible for Income Tax benefits 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

Advantages

Security: Your family's future remains a priority in every decision you make. With SBI Life - Smart Bachat Plus, you can focus on life's milestones, knowing your loved ones are supported.
 
Flexibility: Your lifestyle shapes how you approach your commitments. The premium payment options for SBI Life - Smart Bachat Plus are designed to fit your circumstances. Whether you choose a full-term or shorter duration, you have control over how you pay. This ensures your financial commitments match your earning pattern over the years.
 
Simplicity: Securing your SBI Life - Smart Bachat Plus plan. You can begin building security for your family with clarity and ease.
 
Reliability: Your commitment over time builds towards a meaningful outcome. At maturity, SBI Life - Smart Bachat Plus provides a payout that combines both your chosen sum assured and earned bonuses. This supports long-term planning for the priorities you hold over time.

Benefits

Death Benefit:
1. If You have opted for the ‘Life’ benefit option and the Policy is In-Force as on the date of death of the Life Assured, then the higher of the following will be payable:
A. Sum Assured on Death plus vested Reversionary Bonuses plus Terminal Bonus, if declared
Or
B. 105% of Total Premiums Paid# up to the date of death
Where;
Sum Assured on Death will be higher of Sum Assured or 11 times the Annualized Premium^^.
2. If You have opted for the ‘Life Plus’ benefit option and the Policy is In-Force as on the date of death of the Life Assured for reasons other than an Accident, then an amount as mentioned in the above point (1) will be payable.
3. If You have opted for the ‘Life Plus’ benefit option and the Policy is In-Force as on the date of an Accident leading to the Accidental Death of the Life Assured, then the following will be payable: an amount as mentioned in the above point (1) plus an additional amount equal to the Sum Assured will be payable.
On payment of the Death Benefit, the Policy will terminate, and no further benefits will be available under the Policy.
 
Accidental Total Permanent Disability Benefit (applicable only under ‘Life Plus’ benefit option)
If You have opted for the ‘Life Plus’ benefit option and the Policy is In-Force as on the date of an Accident leading to Total Permanent Disability, an amount equal to the Sum Assured will be payable, plus future Premiums payable (if any) under the Policy will be waived off.
On payment of the Accidental Total Permanent Disability Benefit, the Policy will continue without Accidental Death & Accidental Total Permanent Disability (AD&ATPD) benefit.
 
Maturity Benefit:
If the Policy is In-Force and the Life Assured survives till the end of the Policy Term, then the Sum Assured on Maturity plus vested Reversionary Bonuses and Terminal Bonus (if declared) will be payable at the end of the Policy Term.
Where, the Sum Assured on Maturity is equal to the Sum Assured.

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

 

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

Downloads

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

• Product Brochure/Prospectus

• Product Guide

• Policy Document

• Customer Information Sheet (CIS)
 

Who Can Buy?

Age^ at Entry Minimum: Life: 3 years Life Plus: 18 years Maximum: 50 years
Maximum Age^ at Maturity 65 years
Premium Payment Term and Corresponding Policy Term Premium Payment Term (Years) Policy Term (Years) (Both Inclusive)
Limited pay 7 / Regular pay 15 – 30
Limited pay 10 / 15 20 – 30
Sum Assured Minimum: ₹ 2,00,000 Maximum: No limit, subject to board approved underwriting policy
Annualized Premium Minimum: Maximum:
Premium Frequency Amount^^ (₹) No limit, subject to board approved underwriting policy
Regular pay Limited pay
Yearly 12,000 15,000
Half-Yearly 6,120 7,650
Monthly 1,020 1,275
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

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

^^The above minimum premium amounts are excluding underwriting loading, if any.

If the life assured is minor, the policy shall automatically vest to the life assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Company and the life assured.

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 and premium payment term, discover a premium that fits your life.

Select Your Gender

Discount

Select Proposer's Gender

Plan

  • Direct Marketing
  • Individual Agent
  • Corporate Agents
  • Broker
  • Web Aggregator
  • Online
  • Insurance Marketing Firms (IMF)

Premium Payment Option

Policy Term
15 30

Premium Frequency

Sum Assured
2 Lakh No Limit
  • 15 Years
Sum Assured
₹2,00,00,000
Premium Frequency
Yearly
Premium Payment Term
10 Years
Policy Term
10 Years
Maturity Benefit
10 Years
**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.
Invalid OTP entered.
The e-mail address entered is invalid.

Frequently Asked Questions

SBI Life - Smart Bachat Plus is an Individual, Non-Linked, Participating, Life Insurance, Savings Product that blends life coverage and savings. When the policy matures, you receive a lump sum payout that includes your chosen sum assured and bonuses, supporting planned financial needs. Explore how this product can work for your needs by speaking to our experts today.

Supporting your loved ones while building your own aspirations calls for a product that addresses both. SBI Life - Smart Bachat Plus combines coverage and savings, with various premium payment options and bonuses tailored to suit your circumstances. Calculate your premium today to see what fits your goals.

SBI Life - Smart Bachat Plus offers a blend of life cover and savings, with flexible premium payments to suit your needs. You can customise coverage for family support or long-term planning.

The SBI Life - Smart Bachat Plus claim process involves notifying us, submitting the claim form with required documents, assessment by our team, claim decision and payout to your nominated bank account. The process is designed to provide clarity and support during difficult times.

The minimum premium amount of the SBI Life - Smart Bachat Plus plan is as follows:

 

Premium Frequency Amount(₹)
Regular pay Limited pay
Yearly 12,000 15,000
Half-Yearly 6,120 7,650
Monthly 1,020 1,275

 

These options allow you to choose what aligns with your budget. Use our premium calculator to find the option that suits you best.

View All

For more details on risk factors, terms and conditions, please read the sales brochure carefully before conducting 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 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. You may visit our website for further details here.
WT/4A/ver1/02/26/WEB/ENG