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SBI Life Smart Platina Plus is an individual, non-linked, non-participating life insurance savings product. It combines life insurance protection during the policy term with guaranteed income during the selected payout period. The plan offers two income options: Guaranteed Income and Life Income. Policyholders can select from eligible premium payment terms and payout durations, while income can be received yearly, half-yearly, quarterly or monthly. On survival until the end of the policy term, an in-force policy pays 110% of total premiums paid as the maturity benefit, according to the policy conditions.
Choose Guaranteed Income or Life Income, with income payouts during the payout period and 110% of total premiums paid at policy maturity.
Smart Platina Plus may suit buyers who prioritise scheduled, contractually defined income rather than market-linked returns. Its two income options provide different ways to structure future payments, and the multiple payout frequencies help match income to household needs. The Guaranteed Income option has an additional death-benefit structure: after the payout period begins, the nominee may continue receiving future guaranteed income or choose its discounted lump-sum value as allowed under the policy. The Life Income option pays the applicable death benefit as a lump sum. Before buying, compare the personalised benefit illustration with the total premiums, duration, liquidity requirements and inflation. The actual benefit depends on the selected options and policy terms.
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 its conditions being met.
The death benefit depends on the selected income option and the terms of the policy.
Provides guaranteed income during the payout period, based on the selected policy parameters and payout frequency.
Income is payable according to the policy terms while the life assured survives.
Offers a life insurance savings structure with guaranteed income during the payout period.
Death during the policy term results in the applicable sum assured on death being paid as a lump sum.
For both income options, an in-force policy pays 110% of total premiums paid at the end of the policy term if the life assured survives.
Total premiums paid are calculated according to the policy definition and exclude applicable taxes and extra premiums.
Income can be scheduled yearly, half-yearly, quarterly or monthly.
The selected frequency and rules for changes are governed by the policy conditions.
Optional rider with an Accidental Death Benefit option and an Accidental Partial Permanent Disability Benefit option.
UIN: 111B041V01. Additional premium and eligibility conditions apply. Riders are not available through POSP/CPSC-SPV channels under the listed plan conditions.
Optional rider intended to waive eligible future premiums if a covered event occurs as defined in the rider contract.
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 income benefits.
The current official product page lists UIN 111N133V06. Check the latest policy documents when applying.
The official product page lists a minimum annualised premium of ₹50,000, in multiples of ₹1,000, subject to eligibility and underwriting rules.
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)
UIN: 111B048V01. Refer to the current rider brochure and policy document for eligibility, covered events and exclusions.
The plan offers Guaranteed Income and Life Income. The benefit structure differs by option, so review the official benefit illustration before choosing.
The listed premium payment terms are 6, 7, 8 or 10 years. Available policy terms and payout durations depend on the selected combination.
The listed payout frequencies are yearly, half-yearly, quarterly and monthly, subject to policy rules.
For both income options, an in-force policy pays 110% of total premiums paid at the end of the policy term if the life assured survives.
Before the payout period, the sum assured on death is paid as a lump sum. After the payout period starts, the nominee receives the sum assured on death and may continue receiving future guaranteed income or opt for its discounted lump-sum value as permitted by the policy.
The official product page lists the SBI Life Accident Benefit Rider and SBI Life Waiver of Premium Rider. Rider availability, eligibility and extra premiums depend on the applicable terms and distribution channel.
The policy has a special suicide exclusion clause. The amount payable depends on whether the event occurs within 12 months of commencement of risk or revival and on the policy being in force.