Every parent dreams of giving their child a life full of opportunities, confidence, and success. SBI Life Insurance brings you a powerful range of life insurance and child protection plans designed to safeguard your family’s tomorrow.
Among them, the SBI Life – Smart Platina Young Achiever stands out as a trusted Individual, Non-Linked, Non-Participating Life Insurance Savings Product that ensures lifelong financial security, guaranteed returns, and complete peace of mind.
Whether it’s your child’s education, marriage, career goals, or personal milestones, this plan provides timely financial support—exactly when they need it the most.
Why Choose SBI Life Insurance Plans?
SBI Life offers a wide range of life insurance plans crafted to protect your family and support long-term savings goals.
Protection
Coverage against life’s uncertainties so your child’s dreams stay protected.
Security
Guaranteed benefits and assured payouts for safe, worry-free financial planning.
Savings & Growth
Stable returns with Guaranteed Additions for consistent wealth accumulation.
Flexibility
Multiple payout options, premium terms, and policy structures to match your needs.
SBI Life – Smart Platina Young Achiever (Highlight Plan)
A Guaranteed Savings Plan for a Confident Future
SBI Life – Smart Platina Young Achiever is specifically designed to support your child’s growth journey with risk-free milestone planning and assured payouts. This plan ensures that your child’s future stays bright—even in your absence.
Key Features of Smart Platina Young Achiever
1. Guaranteed Benefit at Maturity
A lump sum is paid at the end of the policy term, including:
- Sum Assured on Maturity
- Accrued Guaranteed Additions
Perfect for education, higher studies, or major life events.
2. In-Built Waiver of Premium
In case of:
- Death of proposer
- Accidental Total Permanent Disability (ATPD)
All future premiums are waived, and the policy continues—ensuring uninterrupted protection for your child.
3. Flexible Payout Options
Choose between:
- Full lumpsum maturity benefit
- Instalment payouts for up to 7 years
Ideal for planned educational expenses.
4. Guaranteed Additions Every Year
Guaranteed Additions (GA) accrue annually and are calculated based on:
- Premium Payment Term (PPT)
- Annualized Premium Band
Guaranteed Addition Rates
| Annualized Premium (₹) | PPT 7 Years | PPT 10 Years |
|---|---|---|
| 50,000 – <1,00,000 | 5.50% | 6.00% |
| 1,00,000 – <2,00,000 | 5.75% | 6.25% |
| 2,00,000 & above | 6.00% | 6.50% |
GA is payable even in the year of death.
5. Tax Benefits
You may enjoy tax savings under the Income Tax Act, 1961, as per prevailing rules.
Advantages of Smart Platina Young Achiever
Security
Guaranteed maturity benefits for assured financial protection.
Transparency
Clear, reliable, and consistent returns without market risk.
Reliability
Assured additions every year until the end of the policy term.
Long-Term Value
Perfect blend of savings + protection + milestone-based support.
Benefits Included in the Plan
Maturity Benefit
If the policy is in-force and the child (life assured) survives till maturity:
- Sum Assured on Maturity + Guaranteed Additions
paid as lumpsum.
Death Benefit (Life Assured)
Higher of:
- Sum Assured on Death + Guaranteed Additions, OR
- 105% of Total Premiums Paid up to date of death
Sum Assured on Death =
Higher of:
- Basic Sum Assured
- 11 × Annualized Premium
Waiver of Premium Benefit
If proposer (parent/grandparent/legal guardian) dies or becomes permanently disabled:
- All future premiums are waived
- Policy continues without interruption
This ensures the child’s future remains protected at all times.
Who Can Be the Policyholder?
- Parent
- Grandparent
- Legal guardian
The life assured is always the minor child.
Who can buy?
Frequently Asked Questions (FAQs)
What is SBI Life – Smart Platina Young Achiever?
It is a guaranteed child savings plan that offers annual Guaranteed Additions, maturity benefits, and premium waiver in case of parent’s death or disability.
Who can purchase this plan?
Parents, grandparents, or legal guardians can buy this plan for their minor child.
Are the returns guaranteed?
Yes. Guaranteed Additions accrue every year as per the plan’s structure.
What happens if the proposer dies?
All future premiums are waived, and the policy continues to protect the child.
Are tax benefits available?
Yes, as per the Income Tax Act, 1961 (subject to amendments and individual eligibility).
Disclaimer
Insurance products are subject to terms and conditions of SBI Life Insurance Company Ltd. Benefits, features, tax norms, and eligibility criteria are based on current product guidelines and may change from time to time. Please read the official sales brochure carefully before purchasing. Tax benefits are subject to change as per prevailing laws. Consult a financial advisor for personalized guidance.