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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 current product UIN is 111N136V02. The plan provides life cover up to age 100 and offers premium payment terms of 10, 12 or 15 years. The official product page lists a minimum annualised premium of ₹30,000, payable in permitted premium frequencies. The 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 is ₹30,000, so this plan 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
98.3% CSR, calculated as a 3-year average
SBI Life settles 98.3% of all claims it receives, demonstrating strong credibility.
Contact Details
1800 267 9090
Headquarters: Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400 069, Maharashtra, India
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 an optional accidental death benefit or accidental partial permanent disability benefit, depending on the selected rider option.
UIN: 111B041V01. Additional premium and rider conditions apply.
Provides a premium-waiver benefit when a covered event occurs and the rider conditions are satisfied.
UIN: 111B048V01. Check the current rider wording for covered events and exclusions.
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.
The current product page lists UIN 111N136V02.
The official product page lists a minimum annualised premium of ₹30,000, subject to the product 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)
The available premium payment terms are 10, 12 or 15 years.
The plan provides life cover up to age 100, subject to policy conditions.
The product page 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.
The product page lists the SBI Life Accident Benefit Rider and SBI Life Waiver of Premium Rider, subject to eligibility and rider terms.
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.