Smart Swadhan Neo

A Lifetime of Security That Pays You Back

Security with Complete Return of premiums 

Know about SBI Life - Smart Swadhan Neo

UIN: 111N148V01 | Product Code: 3W

Life Cover Issuance with ease

100% Return of Premiums on Maturity

Flexible Policy Term and Premium Payment Options

Know Your Life Insurance Plan

Features

Protection: SBI Life - Smart Swadhan Neo supports families through different chapters of life by providing continued financial support. It helps ensure life insurance coverage for you so that those who depend on you can move forward with stability and confidence over time.
100% Return of Premiums: Make your goals a reality with SBI Life - Smart Swadhan Neo’s returns of 100% of Total Premiums Paid at the end of the policy term. Your commitment to security returns to you, providing the means for the milestones you have envisioned.
 
Convenience: SBI Life - Smart Swadhan Neo is designed to fit your life and planning needs. Opt for a one-time payment or spread it across several years. Your financial commitments align with your circumstances, making coverage accessible.
 
Flexibility: Choose SBI Life - Smart Swadhan Neo plan to suit your protection needs. You have the freedom to select a policy term between 15 and 30 years and a premium payment term that aligns with your financial planning, ensuring your family remains protected with a plan tailored to your requirements.
 
Enhanced Protection: SBI Life - Smart Swadhan Neo offers additional support for life's critical moments. Add an optional Accident Benefit Rider for extra coverage. This enhanced coverage strengthens your family's security, bringing peace of mind.
 
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.

Advantages

Security: SBI Life - Smart Swadhan Neo paves the path to a financially secure future for your loved ones. The life cover ensures that both you and your family are supported, offering assurance of a secure future.
 
Reliability: The plan provides return of total premium on policy maturity rewards your commitment. These returns bring aspirations closer to reality, providing the means for the moments and milestones that define your family's journey together.
 
Flexibility: When you opt for SBI Life - Smart Swadhan Neo, you choose the premium and policy terms that fit your unique life situation. This adaptability ensures the plan evolves alongside your family's changing needs, supporting you through every chapter.
 
Simplicity: With an easy enrolment process, SBI Life - Smart Swadhan Neo makes planning for your family's security straightforward. This simplicity allows you to respond promptly and focus on essential priorities.

Plan Benefits

Maturity Benefit (For In-force policies):

On survival of the Life Assured up to maturity, 100% of the Total Premiums paid# during the policy tenure, will be paid in a lumpsum.
 
Death Benefit (For In-force policies):

In the unfortunate event of death of the Life Assured during the policy term, Sum Assured on Death will be payable to the Nominee / Legal Heir in lumpsum.
 
Sum Assured on death:

For Single Premium (SP) Policies: Higher of (Sum Assured@ or 125% of Single Premium)
 
For Limited Premium Payment Term (LPPT) / Regular Premium (RP) Policies:

Highest of (Sum Assured@ or 10 times of Annualized Premium** or 105% of the Total Premiums paid# till the date of death)

There is no waiting period under the product. The Life Cover Benefit would be same (as defined above) throughout the policy term.

Where,

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

 

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

 

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

Downloads

For more details on risk factors, terms and conditions of SBI Life - Smart Swadhan Neo, 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 Minimum: 18 years Maximum: For POSPs and CPSC-SPV: 50 years For other channels: 60 years
Maximum Age** at Maturity (Cover Expiry Age) For POSPs and CPSC-SPV: 65 years For other channels: 75 years
Sum Assured Minimum: ₹ 5,00,000 Maximum: ₹ 24,90,000 The Sum assured should be in the multiple of For POSPs and CPSC-SPV: ₹ 50,000 For other Channels: ₹ 10,000
Policy Term Minimum: 15 years Maximum: 30 years
Policy Term / Premium Payment Term Premium Payment Options Policy Terms Available (Inclusive of Both Years)
Single Premium 15 – 30 years
LPPT-7 15 – 30 years
LPPT-10 15 – 30 years
LPPT-15 20 – 30 years
Regular Premium 15 – 30 years
Premium Frequency Single, Yearly, Half – Yearly and Monthly
Premium Frequency Loading Half – Yearly – 51.00% of annual premium Monthly – 8.50% of annual premium
Premium Premium Frequency Minimum ₹ Maximum ₹
Single 19,000 7,79,000
Yearly 5,000 1,80,000
Half – Yearly 2,550 91,800
Monthly 425 15,300

**Age mentioned in this document is age last birthday on the date of proposal

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

2 A little information about the premium options...

Plan Type

Premium Frequency

3 Let's finalize the policy duration you are comfortable with...
Policy Term
15
10 30

Premium Paying Term

Sum Assured
5 Lakhs 24,90,000

Channel Type

4 SBI Life- Accident Benefit Rider (111B041V01)
Term for ADB Rider
7
7 15
ADB Rider Sum Assured
50,000
50,000 1500000
Term For APPD Rider
7
7 15
APPD Rider Sum Assured
50,000
50,000 500000
Sum Assured
₹
Premium Frequency

Premium amount (excluding taxes)

Premium Payment Term
Policy Term
Maturity Benefit
₹

Frequently Asked Questions

Anyone aged 18 to 60 (or 50 for POSPs and CPSC-SPV) can apply for SBI Life - Smart Swadhan Neo. Click link to buy Smart Swadhan Neo online.

Yes, SBI Life - Smart Swadhan Neo offers return of premium benefits on completion of the policy term on survival.

SBI Life - Smart Swadhan Neo plan is available to anyone between 18 and 60 (50 for POSPs and CPSC-SPV). With its premium return feature, it serves individuals at any point in life: those just starting out, newlyweds, parents or those nearing retirement. The returned premiums provide the means for your aspirations, while life coverage ensures those you care for remain secure throughout your journey.

Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.

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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. You may visit our website for further details. 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 . For more details on risk factors, terms and conditions of riders please read the rider brochure carefully before concluding a sale.
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