SBI Life – Saral Jeevan Bima is an Individual, Non-Linked, Non-Participating Pure Risk Term Insurance Plan designed to provide financial protection to your family at an affordable premium.
This standard term plan is created as per IRDAI guidelines, making it transparent, easy to understand, and suitable for individuals seeking pure life cover without complex features.
Backed by SBI Life’s trust, this plan ensures that your loved ones remain financially secure even in unforeseen circumstances.
Key Highlights of SBI Life – Saral Jeevan Bima
- Pure Protection Plan – Offers financial security to your family
- Standard Terms & Conditions – No complexity, easy to understand for anyone
- Flexible Premium Payment Options –
- Single Premium
- Regular Premium
- Limited Premium (5/10 years)
- Non-Linked Term Plan – No market-risk exposure
- Affordable Premium – Ideal for first-time life insurance buyers
- Tax Benefits* – As per Income Tax Act, 1961
- Individual Life Cover – Designed for single policyholders
Why Choose SBI Life Saral Jeevan Bima?
1. Simplicity
A straightforward term plan with uniform features and guidelines across all insurers. No hidden conditions.
2. Affordability
Get life coverage at a budget-friendly premium, ensuring maximum protection at minimal cost.
3. Security
Provides a lump-sum payout (Sum Assured on Death) to your nominee in case of the unfortunate demise of the insured.
4. Flexibility in Premium Payment
You can choose:
- Pay once
- Pay regularly
- Pay for a limited period (5/10 years)
Benefits & Coverage
Death Benefit
If the life assured passes away during the policy term after the expiry of the waiting period, or due to an accident during the waiting period, the nominee receives a lump-sum payout (Sum Assured on Death).
A) For Regular & Limited Premium Policies
Sum Assured on Death is the highest of:
- 10 × Annualized Premium
- 105% of total premiums paid till the date of death
- Absolute Sum Assured (Basic Sum Assured)
B) For Single Premium Policies
Sum Assured on Death is the higher of:
- 125% of Single Premium
- Absolute Sum Assured (Basic Sum Assured)
Death Due to Non-Accidental Causes During Waiting Period
The nominee will receive 100% of all premiums paid (excluding taxes).
Survival Benefit
This plan does not provide any survival benefit.
Maturity Benefit
This plan does not provide any maturity benefit.
Rider Benefit
No riders are available under this plan.
Premium Payment Options
Choose the premium mode based on your convenience:
- Single premium
- Regular premium (Pay every year)
- Limited premium (5 or 10 years)
Who Should Buy SBI Life Saral Jeevan Bima?
This plan is perfect for:
- Individuals seeking a simple, IRDAI-standardized insurance plan
- First-time insurance buyers
- Families wanting pure protection without investment-linked features
- People looking for affordable premiums
- Anyone preferring transparent, uniform terms & conditions
Who can buy?
FAQs
Is Saral Jeevan Bima suitable for beginners?
Yes, it is designed to be simple and uniform across all insurers, ideal for first-time life insurance buyers.
Does this plan offer maturity or survival benefits?
No, it is a pure term plan and does not offer survival or maturity payouts.
Is the claim payable during the waiting period?
If death occurs due to accident, full death benefit is payable.
If death occurs due to non-accidental causes, only 100% of premiums (excluding taxes) are paid back.
Are there any riders?
No, the plan does not offer riders.
Can I get tax benefits?
Yes, tax benefits are available under Section 80C & 10(10D)* of the Income Tax Act.
Is this plan market-linked?
No, it is a non-linked, non-participating protection plan with no market dependency.
Comprehensive Coverage for All Life Insurance Categories
To help customers compare easily, this landing page covers:
- Pure Term Insurance
- Standard IRDAI-regulated plans
- Non-linked & Non-participating protection plans
- Individual life cover solutions
- Affordable premium insurance plans
- Tax benefit eligible insurance products
- Limited, single & regular premium options
Disclaimer
This information is for general understanding only. All benefits are subject to the policy terms and conditions of SBI Life – Saral Jeevan Bima. Tax benefits are as per the Income Tax Act, 1961, and may change. Please refer to the official policy brochure and consult financial or tax advisors before concluding a purchase.