SBI Smart Swadhan Supreme
- Maturity benefits
- Flexible policy term
- Tax benefits under section 80C
Usually, a term plan provides financial security to your loved ones in return for the premium you have paid during the policy term. But once in a while, the thought of outliving your term insurance plan comes to your mind. Such as, what will happen if I survive the whole policy term? What will happen to my paid premiums? Will I get those back? Fortunately, term return of premium plans do so!
Such a plan is SBI Smart Swadhan Supreme which offers dual benefits of long-term protection along with the return of a premium option if you survive the whole policy term. It is a pure protection plan which offers protection at an affordable cost with the flexibility to choose a term from 10 to 30 years.
SBI Life Smart Swadhan Supreme Plan offers you a range of benefits including:
Minimum Age - 18 years Maximum Age - 60 years
Maximum Maturity Age - 75 years
Minimum term - 15 years Maximum term - 30 years
Basic Sum Assured: ₹25L to No LImit
The policy loan is not available under SBI Smart Swadhan Supreme Plan.
Yearly, Half-Yearly, and Monthly
Let's understand how the SBI Life Smart Swadhan Supreme Plan works with a simple premium illustration.
Mr Atul, a 30-year-old corporate employee, wants to ensure that his family is able to maintain their lifestyle even when he is not around.
His financial advisor advised him to buy the SBI Life Smart Swadhan Supreme Plan Work. He visited PolicyX.com.
Let's understand how the SBI Life Smart Swadhan Supreme Plan works for him with an example.
| Age of policyholder | Monthly Premiums | Annual Premiums | Policy Tenure | Total premiums paid | Sum assured |
| 30 years | ₹1,153/month | ₹13,836/year | 30 years | ₹4,15,080 | ₹1 Crore |
Key Takeaways: In case of his unfortunate demise during the 10th policy year, ₹1 Cr is paid to her family as a lump sum as a death benefit. If he survives until the end of the policy term, he'll receive a maturity benefit, which he can use to plan a vacation with his family.
Here are the benefits associated with the SBI Smart Swadhan Supreme
Under the SBI life-smart swadhan supreme death benefit, if the policyholder passes away during the term, a sum assured will be payable to the nominee. The death benefit will be paid higher than the Basic sum assured or 11 times the annualized premium or 105% of the total Premiums received up to the date of death.
Under the SBI life-smart Swadhan supreme maturity benefit, customers can get back up to 100% of the total premiums paid for the policy term either in a single lump sum or monthly income upon survival of the whole policy term.
The SBI Life - Smart Swadhan Supreme plan could also be purchased by house wifes. Housewives between the age of 21- 50 years can opt smart swadhan supreme term plan by showing education documents.
If you don't feel like continuing your policy, you can exit your plan and get a surrender value. To do so, you have to pay at least one full policy year's premium. Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV), Whichever is higher, is payable as Surrender Value.
You can add the following riders to your SBI Smart Swadhan Supreme Plan:
Accidental Death Benefits Rider provides an additional sum if the policyholder dies within 120 days of the accident.
Accidental Total and Permanent Disability Rider covers the policyholder if any accident occurs that leads to the permanent disability of the policyholder.
Here is the list of exclusions associated with the plan:
SBI Life Smart Swadhan Supreme is a pure-term insurance plan that offers complete protection up to the age of 75 years. It provides life cover at affordable premiums and also returns the total premium paid at the end of the policy term upon survival. If you want to know more about the plan or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269.
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I am a passionate content writer with over three years of experience in the insurance domain. An avid learner, I always tries stays ahead of the industry's trends, ensuring my writing remains fresh and includes the latest insurance shifts. Through my work, I strive to engage with targeted insurance readers.
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