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SBI Life Smart Lifetime Saver is an individual, non-linked, participating whole-life insurance savings product. It is designed to combine long-term life protection with a stream of survival income. The policy participates in the insurer’s participating life insurance business, so eligible policyholders may receive cash bonuses in accordance with the policy terms. The product UIN should be verified against the latest official brochure before publication. The plan provides life cover up to age 100 and offers premium payment terms of 10, 12 or 15 years. The official product information lists a minimum annualised premium of ₹30,000, subject to the applicable terms. Guaranteed survival income depends on the selected premium payment term and annualised premium band. The maturity benefit is based on the total annualised premiums paid as defined in the policy document. Actual benefits depend on policy conditions and applicable bonuses.
Participating whole-life savings plan with survival income and cash bonuses
Smart Lifetime Saver may suit buyers seeking lifelong protection with a planned income stream after completing the premium-paying period. Its limited premium payment structure means premiums are payable for a defined number of years while life cover can continue to age 100. The participating nature of the product means cash bonuses, where applicable, depend on the insurer’s declared bonuses and policy provisions; they should not be treated as guaranteed unless expressly specified. Before purchasing, compare the guaranteed survival income for your premium band, the maturity benefit, surrender terms and the death benefit. The minimum annual premium may not suit every budget. Optional riders can extend protection but cost extra. Review the official benefit illustration and policy wording to understand what is guaranteed, what depends on bonuses and what happens if premiums stop early.
SBI Life
Key Insights
Founded
2001
SBI Life was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.2% CSR, calculated as a 3-year average
SBI Life settles 99.2% of all claims it receives, demonstrating strong credibility.
Contact Details
1800-267-9090
Headquarters: Natraj Building, M.V. Road, Western Express Highway Junction, Andheri (East), Mumbai – 400069
Provides life insurance protection up to age 100, subject to the policy remaining eligible and in force.
Death benefits are governed by the policy wording.
Pays survival income under the policy conditions after the premium payment term, while the insured is alive and the policy remains eligible.
The amount varies by premium payment term and annualised premium band.
Choose a premium payment term of 10, 12 or 15 years.
The policy term is linked to age at entry and maturity age.
The policy participates in the insurer’s participating life insurance business and may receive cash bonuses according to declared bonuses and policy terms.
Bonuses are not guaranteed unless specifically stated.
At maturity, the policy provides the benefit linked to total annualised premiums paid as defined by the product terms.
Refer to the policy document for the precise calculation.
Offers optional accidental death or accidental disability benefits, depending on the selected rider option.
Verify the current rider UIN and availability against the official policy documents before publishing.
Provides a premium-waiver benefit when a covered event occurs and the rider conditions are satisfied.
Verify the current rider UIN, availability and exclusions against the official policy documents.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
SBI Life plans and claim process
It is an individual, non-linked, participating whole-life insurance savings product offering life cover and a survival-income structure.
Check the latest official SBI Life product brochure and policy document for the applicable UIN before publication.
The product information lists a minimum annualised premium of ₹30,000, subject to the applicable product rules. Verify the current brochure before purchase.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official SBI Life website before purchasing.
Official Website
sbilife.co.in
Visit the official SBI Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
The listed premium payment terms are 10, 12 or 15 years, subject to the current product terms.
The plan is described as providing life cover up to age 100, subject to policy conditions.
The product information describes guaranteed survival income. The amount depends on the premium payment term and annualised premium band. Check the benefit illustration for the applicable amount.
As a participating policy, it may receive cash bonuses declared by the insurer in accordance with the policy terms. Bonuses should not be assumed to be guaranteed.
Surrender may be possible subject to policy conditions and the applicable surrender value. Surrender terminates the policy and future benefits.
Optional riders may be available subject to the current product terms, eligibility and rider wording. Confirm their names and UINs from the official documents.
Tax benefits may be available under applicable Indian tax laws, subject to eligibility and laws in force. Consult a qualified tax adviser for your circumstances.