As a responsible individual, securing your family’s financial future is your top priority. You want the reassurance of life insurance protection at an affordable cost — and if life moves exactly as planned, you also deserve to get back the premiums you paid.
Introducing SBI Life – Smart Swadhan Neo, a smart, savings-plus-protection plan designed for people who want both security and returns. It offers complete life coverage and returns 100% of Total Premiums Paid at maturity, making it one of the most trust-worthy Return of Premium (ROP) life insurance plans in India.
This landing page also helps you explore and compare all major Life Insurance plans, from Protection Plans to Savings Plans, ULIPs, Term Policies, and more — helping you make an informed decision.
Why Choose SBI Life – Smart Swadhan Neo?
Life insurance coverage with ease of issuance
A simple, hassle-free enrollment process with minimal documentation.
100% Return of Premiums at Maturity
Get back the entire amount you paid (excluding taxes & extra premiums) if you survive the policy term.
Flexible Policy Terms
Choose Regular, Limited, or Single Premium payment options as per your financial comfort.
Optional Accident Benefit Rider
Enhance your protection with Accidental Death or Accidental Partial Permanent Disability cover.
Offers Tax Benefits
Save under applicable sections of the Indian Income Tax Act.
Key Highlights
- Plan Name: SBI Life – Smart Swadhan Neo
- Category: Individual, Non-Linked, Non-Participating Life Insurance Savings Product
- Core Benefits:
- Protection
- Security
- Return of Premium
- Additional Accident Cover (Optional)
Features of Smart Swadhan Neo
Life Insurance Coverage with Ease
The plan ensures quick issuance and simple form filling.
100% Return of Total Premiums Paid at Maturity
Receive a lump-sum refund of all premiums paid if the policyholder survives the term.
Customizable Premium Payment Options
- Single Premium
- Limited Premium
- Regular Premium
Choose your policy term and payment term as per your financial goals.
Accident Benefit Rider (Optional)
- Option A: Accidental Death Benefit
- Option B: Accidental Partial Permanent Disability Benefit
Advantages of Smart Swadhan Neo
Security
Protect your family’s future with a reliable life cover.
Reliability
Get 100% of Total Premiums Paid back on maturity.
Flexibility
Choose your policy term and premium payment term.
Simplicity
Easy enrollment through a simplified proposal form.
Tax Benefits
Avail tax exemptions as per prevailing tax laws.
Benefits: Maturity & Death
Maturity Benefit
Upon surviving the policy term, the policyholder receives:
👉 100% of Total Premiums Paid (excluding taxes & extra premiums)
Death Benefit (In-Force Policies)
In case of the policyholder’s unfortunate death during the term, the Sum Assured on Death is paid to the nominee.
Sum Assured on Death Calculation
For Single Premium Policies
Higher of:
- Sum Assured
- 125% of Single Premium
For Regular or Limited Premium Plans
Highest of:
- Sum Assured
- 10 × Annualized Premium
- 105% of Total Premiums Paid till the date of death
No Waiting Period – Life cover starts immediately.
Understanding Key Terms
Total Premiums Paid
Sum of all base premiums paid (excluding taxes and extra premium charges).
Sum Assured
A fixed benefit amount chosen by the policyholder at the start.
Annualized Premium
Yearly premium amount excluding taxes, rider premiums, extra loadings, etc.
Tax Benefits
You may be eligible for:
- Deductions under Section 80C
- Tax-free maturity benefits under Section 10(10D)
Tax rules are subject to change. Please consult your tax advisor.
Who can buy?
Frequently Asked Questions (FAQs)
What is SBI Life – Smart Swadhan Neo?
A life insurance savings plan that offers life cover and returns 100% of Total Premiums Paid at maturity.
Who should buy this plan?
Anyone looking for life protection plus assured return of premiums.
Is there a waiting period?
No. Life cover starts from day one.
Can I add extra protection?
Yes. You can add the Accident Benefit Rider.
Do I get tax benefits?
Yes, as per current income tax laws.
Disclaimer: This page provides an overview of SBI Life – Smart Swadhan Neo and other life insurance plans for informational purposes only. Benefits, features, premium amounts, tax advantages, and rider options are subject to policy terms, conditions, and regulatory guidelines issued by IRDAI. Tax benefits are as per prevailing laws and may change from time to time. Please read the sales brochure and policy documents carefully before making a purchase. Consult your financial advisor or tax expert for personalized guidance.