SBI Smart Scholar
  • Explore SBI Life Smart Scholar
  • Know its Features & Benefits
  • Check the Eligibility Criteria
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Customized Investment Plan for you.

Select Your Annual Income

15 Lacs+ P.A. 10-15 Lacs P.A. 7-10 Lacs P.A. 5-7 Lacs P.A. 3-5 Lacs P.A. Upto 3 Lacs P.A.

Age

SBI Smart Scholar

Give your children more than your love... Give them a lifetime of Financial Security.

SBI Life Smart Scholar is an Individual, Unit Linked, Non-participating Life Insurance Policy that offers myriad coverages to secure the future of the insured children even in the absence of their parents. The plan lets you avail of twin benefits of market-linked returns on the invested money and a life cover to secure your child's future.

SBI Smart Scholar Plan offers you a range of benefits including:

why-choose
  • Financial Security
  • Loyalty Benefits
  • Flexibility
  • Grace Period
  • Free Look Period
  • Additional riders

Eligibility Criteria for SBI Smart Scholar

Your Occupation

Entry age

Minimum Age - 0 years Maximum Age - 17 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 65 years

Your Gender

Policy tenure

8 to 25 years

Maternity Benefit Rider

Premium payment term

Single Pay or 5 to 25 Years

Dr YSR Aarogyasri Trust

Premium payment frequency

Annual, half-yearly, quarterly & monthly

Maternity Benefit Rider

Sum assured

Single-Premium: 1.25x premium; Limited Premium: 10x Annualized Premium

How Does the SBI Smart Scholar Plan Work?

Let's understand how the SBI Smart Scholar Plan works with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr. Verma is looking for a plan that helps him collect a lump sum amount to secure his child's financial future.

Solution

His financial advisor advised him to buy the SBI Smart Scholar Plan. He visited PolicyX.com

Let's understand how the SBI Smart Scholar Plan works for him with a premium illustration table.

Age of policyholder Child's Age Annual Premium Policy tenure Sum Assured Maturity Benefits
35 years 5 years Rs 1,00,000 20 years Rs 10,00,000 Rs 23,43,641

Key Takeaways: At the end of the policy tenure the maturity benefits are paid to the policyholder.

Features of SBI Smart Scholar

Here are some features of SBI Smart Scholar:

SBI Child Plans

SBI Smart Scholar

SBI Smart Scholar

Give your children more than your love... Give them a lifetime of Financial Security. SBI Life Smart Scholar is an Individual, Unit Linked, Non-partic...

Unique Features

  • Explore SBI Life Smart Scholar
  • Know its Features & Benefits
  • Check the Eligibility Criteria

SBI Smart Scholar (Pros)

SBI Smart Scholar

SBI Smart Scholar (Cons)

SBI Smart Scholar

SBI Smart Scholar (Other Benefits)

SBI Smart Scholar

SBI Smart Scholar (Eligibility Criteria)

SBI Smart Scholar

SBI Smart Champ

SBI Smart Champ

SBI Life Smart Champ Insurance plan is a participating non-linked individual life insurance plan. The product has been developed to provide life cover...

Unique Features

  • One-time payment option is available
  • Offers Guaranteed Smart Benefits
  • Get Tax Benefits on premiums Renewal Option

SBI Smart Champ (Pros)

SBI Smart Champ
  • Death Benefits
  • Smart Benefits
  • Discounts

SBI Smart Champ (Cons)

SBI Smart Champ
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

SBI Smart Champ (Other Benefits)

SBI Smart Champ
  • Waiver of Due Premiums
  • Policy Loans
  • Rebates on Large Sum Assured

SBI Smart Champ (Eligibility Criteria)

SBI Smart Champ
  • Minimum entry age- 0 years
  • Maximum entry age- 13 years
  • Minimum sum assured- Rs 1
  • 00
  • 000
  • Maximum sum assured- 1 crore
  • Maximum policy term- 30 years
Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Benefits of the SBI Smart Scholar Plan

There are various benefits to buying the SBI Smart Scholar Plan. Let’s understand each of them in detail:

  • Financial Security: In case of the unfortunate death of the policyholder due to any reasons other than an accident, the plan will pay a lump sum benefit equal to a maximum of Basic Sum Assured or 105% of the total premiums paid till death.
  • Loyalty Benefits: Loyalty Additions are paid after specified intervals and solely depend on the policy term. These additions are calculated as 1% multiplied by the average fund value on the first day over the last 24 months.
  • Flexibility: The plan offers 9 fund options to choose from. One can invest in any one or can choose the combination of the funds.

Documents Required to Buy SBI Smart Scholar Plan

Here is the list of documents required to buy the SBI Smart Scholar Plan:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy SBI Smart Scholar?

You can buy the SBI Smart Scholar official website or one of their nearest branch offices.

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Hover on the ‘Life Insurance’ tab.

  • Step 3

    Choose the child plan you want to buy.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of SBI Life Insurance.

  • Step 2

    Hover over the 'Products' from the top of the menu.

  • Step 3

    Click on the 'Child Plans' and choose the Smart Scholar Plan.

  • Step 4

    Click on ‘Buy Now’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

Buying from their branch office

You can buy the SBI Smart Scholar Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.

Your Occupation

Exclusions of the SBI Smart Scholar Plan

  • In case the policyholder commits suicide within 12 months of policy purchase then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date whichever is higher is paid.

Plan At a Glance

What’s Good Here What’s Missing
Loyalty Additions Premium Offset
Choice of fund options Premium continuance
Free Look Period Auto cover continuance
Policy Surrender Top-up premium

In a nutshell

If you are looking for a child plan that offers financial coverage along with a lump sum amount for your child's future then you must buy SBI Smart Scholar Plan.

For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

FAQs: SBI Smart Scholar Plan

1. I need money due to some emergency. Can I withdraw money from my SBI Smart Scholar plan?

Yes, you can. The plan offers the facility of partial withdrawal so that you can overcome your unexpected expenses. This facility can be availed from the 6th policy year, provided you have paid all your previous premiums on time.

2. I am planning to switch my investment among the other available fund options. Do I need to pay anything for the same?

No, the SBI Life Smart Scholar allows two free switches during a policy year. And, after that, you will need to pay Rs.100 per switch.

3. How many times can I withdraw funds from the SBI Smart Scholar plan?

As per the company’s terms and conditions, you are allowed to withdraw only 2 times during a policy year, and 5 times during the whole policy tenure if you have chosen a policy term of 10 years or below. Whereas, if the policy term chosen is more than 10 years, then you can withdraw funds 10 times during the whole tenure.

4. I have had a lapsed SBI Life Smart Scholar policy for the last 2 years. I want to revive it now. Can I do that?

Yes, the SBI Smart Scholar plan allows you to revive your lapsed policy. You need to pay your outstanding premiums without any fees or interest.

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

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Himanshu Kumar

Written By: Naval Goel

Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.

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