SBI Life Smart Swadhan Plus Plan
SBI Life Smart Swadhan Plus Plan is an individual, non-linked, non-participating, life insurance, savings product that comes with the option of return of premium. Through this plan, you can get life insurance coverage at an affordable premium and you get 100% return of the premium paid as maturity benefit.
This plan is available to you in the policy term of 10 to 30 years. In this, you get many options for premium payment. You can choose to pay your premiums as regular, limited or single premium or choose to pay premiums till the policy term.
Features Of SBI Life Smart Swadhan Plus Plan
Features of SBI Life Smart Swadhan Plus Plan are as follows-
- In this plan, you get the dual benefit of life insurance coverage as well as the option of getting back the premiums you have paid.
- In this, you get many options for premium payment. You can choose to pay your premiums as a single payment or limited payment (5, 10, 15 years) or premium payments over the policy term.
- In this, you get a policy term of 10 to 30 years. You can choose the policy term as per your requirement.
- You can also avail tax benefits in this plan.
Benefits Of SBI Life Smart Swadhan Plus Plan
- Maturity Benefit:
Maturity benefit is provided to the life assured on his survival till the end of the policy term. Under this, 100% of the premium paid by the life assured for his plan is returned as a lump sum payment. Thus you can get back your premium under this plan. Along with this, you can also avail life coverage during the policy term.
- Death Benefit:
In case of accidental death of the life assured during the policy term, the death benefit is provided to the nominee by the life assured.
In this you are provided with the following benefits on death-
For Single Premium Policies:
Basic Sum Assured or 1.25 times of Single Premium
For Limited Premium Paying Term / Regular Premium Policies:
Basic Sum Assured or 10 times of Annualized Premium or 105% of total premiums received till the date of death
- Tax Benefits:
In SBI Life Smart Swadhan Plus plan, the insured can also avail tax benefits on the premium paid. Also, you are offered tax benefits on the maturity benefit received.
- Read Also SBI Life Flexi Smart Plus Insurance
SBI Life Smart Swadhan Plus Plan Eligibility
Eligibility for SBI Life Smart Swadhan Plus Plan is as follows-
| Age at Entry | Min: 18 years Max: For POSPs: 55 years For other channels: 65 years |
| Maximum Age at Maturity | For POSPs: 65 years For other channels:75 years |
| Basic Sum Assured (in multiples of 1000) | Min: 5,00,000 Max: No Limit |
| Policy Term | Min: 10 years Max: 30 years |
| Premium Payment Options | 5 Plan Types: SP, LPPT-5, LPPT-10, LPPT-15 and RP |
| Premium Payment Term (PPT) | Single payment, 5 years, 10 years, 15 years and Same as policy term |
| Premium Frequency | Single, Yearly, Half-Yearly, Quarterly and Monthly |
| Premium Frequency Loading | Half-Yearly: 52.00% of Annual Premium Loading Quarterly: 26.50% of Annual Premium Monthly: 8.90% of Annual Premium |
| Premium | Premium Frequency Minimum Single- 21,000 Yearly- 2,300 Half-Yearly- 1,200 Quarterly- 650 Monthly- 250 Maximum: No Limit |
Documents Required For SBI Life Smart Swadhan Plus Plan
The documents required for SBI Life Smart Swadhan Plus Plan are as fellows-
- proof of identity
- proof of address
- proof of age
- Amount of income
SBI Life Smart Swadhan Plus Plan Premium
In SBI Life Smart Swadhan Plus Plan, you are provided with several premium payment options. We have given complete details of all the premium options available in this plan through the chart below.
| Premium Payment Options | 5 Plan Types: SP, LPPT-5, LPPT-10, LPPT-15 and RP |
| Premium Payment Term (PPT) | Single payment, 5 years, 10 years, 15 years and Same as policy term |
| Premium Frequency | Single, Yearly, Half-Yearly, Quarterly and Monthly |
| Premium Frequency Loading | Half-Yearly: 52.00% of Annual Premium Loading Quarterly: 26.50% of Annual Premium Monthly: 8.90% of Annual Premium |
| Premium | Premium Frequency Minimum Single- 21,000 Yearly- 2,300 Half-Yearly- 1,200 Quarterly- 650 Monthly- 250 Maximum: No Limit |
How To Buy SBI Life Smart Swadhan Plus Plan?
If you are thinking of buying an SBI Life Smart Swadhan Plus Plan , then you can buy it through both online or offline as per your convenience.
To buy through online medium, you have to buy this insurance plan by visiting the official website of SBI Life. Whereas through offline medium you can easily buy this insurance plan through insurance agents.