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SBI Life Smart Platina Advantage is an individual, non-linked, non-participating life insurance savings product. It combines life insurance protection with guaranteed benefits payable at maturity. The plan offers policy terms of 15, 20 or 30 years and limited premium payment terms of 7 or 10 years. Guaranteed additions accrue according to the policy conditions and increase the maturity benefit. The plan is designed for people who want to plan for long-term financial goals without depending on market-linked investment performance. Subject to the policy terms, the maturity benefit can also be received in instalments over a period of up to seven years.
Choose a 15, 20 or 30-year policy term with a 7 or 10-year premium payment term and guaranteed additions.
Smart Platina Advantage may suit buyers looking for a predictable savings structure alongside life cover. Guaranteed additions are the central feature: they accumulate according to the selected policy parameters and contribute to the maturity benefit. The limited premium payment structure allows premiums to be paid over a shorter period than the full policy term. However, the actual benefit depends on the premium, policy term and applicable product conditions. Buyers should review the personalised benefit illustration, total premiums payable, death benefit, surrender conditions and instalment payout rules before purchasing. Since this is a non-linked, non-participating product, returns are not linked to stock-market performance, and the guaranteed benefit should be evaluated against inflation and liquidity needs.
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 during the policy term, subject to the policy being in force and the policy conditions being met.
The sum assured on death and applicable benefit calculation are governed by the policy document.
Guaranteed additions accrue at the end of policy years according to the applicable policy terms and increase the maturity benefit.
The applicable guaranteed addition rate depends on the selected policy parameters and the official product rules.
The plan offers policy terms of 15, 20 or 30 years.
The selected term must be compatible with the premium payment term and eligibility requirements.
Choose a premium payment term of 7 or 10 years while life cover continues for the selected policy term.
Premium obligations and policy benefits remain subject to the contract terms.
On survival to maturity with the policy meeting the required conditions, the maturity benefit includes the applicable sum assured on maturity and accumulated guaranteed additions.
The actual amount should be checked in the official personalised benefit illustration.
An optional rider offering additional accidental death benefit or accidental partial permanent disability benefit, according to the selected rider option and contract.
Rider UIN: 111B041V01. Additional premium, eligibility and distribution-channel conditions apply. Confirm availability for the current plan version before purchase.
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, non-participating life insurance savings product that combines life cover with guaranteed maturity benefits.
The current official product page lists UIN 111N175V02. The older V01 version appears in SBI Life’s withdrawn-products list, so verify the version shown in the policy documents before applying.
The official brochure lists policy terms of 15, 20 or 30 years.
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 plan lists limited premium payment terms of 7 or 10 years, subject to the applicable product rules.
Guaranteed additions accrue according to the policy terms. Their applicable rate depends on the selected policy parameters and the official guaranteed addition schedule.
The maturity benefit includes the applicable sum assured on maturity and guaranteed additions accumulated during the policy, subject to the contract conditions.
The plan provides an option to receive the maturity benefit in instalments over a period of up to seven years, subject to the policy rules.
Yes. It provides life insurance cover during the policy term, subject to the policy being in force and the conditions in the contract.
SBI Life lists an Accident Benefit Rider, but availability for the current product version and distribution channel should be confirmed with the insurer.
No. It is a non-linked, non-participating savings insurance product. Its contractual benefits are governed by the policy terms rather than market performance.