Every individual has milestones they dream of achieving—children’s education, a dream home, a comfortable retirement, or ensuring lifelong protection for their family. To cherish these moments without financial uncertainty, the right life insurance plan plays a crucial role.
SBI Life Insurance offers a range of thoughtfully designed plans that help you save, protect, and grow your wealth, while ensuring financial security for you and your loved ones.
Introducing one of the most trusted savings plans:
SBI Life – Smart Money Back Plus
An Individual, Non-linked, Participating, Life Insurance Savings Product
A perfect combination of protection + periodic returns, Smart Money Back Plus ensures you receive regular cash payouts at key life stages, along with life insurance coverage throughout the policy term. It’s crafted to help you stay on track with your financial goals with confidence and peace of mind.
Key Benefits at a Glance
- Periodic cash payouts to support life’s important milestones^
- Flexible premium payment terms (7, 10, and 12 years)#
- Enhanced protection with optional Accident Benefit Rider*
- Total Benefit of 130% of Sum Assured over the policy term
- Bonuses, including Vested Reversionary & Terminal Bonus^
- ax benefits as per Income Tax Act, 1961^^
Highlights
- Savings Plan
- Money Back Insurance Plan
- SBI Life – Smart Money Back Plus
- Traditional, Participating, Non-linked Plan
Plan Features
1. Periodic Cash Payouts (Survival Benefits)
Receive 90% of the Sum Assured through increasing payouts of:
- 15%
- 20%
- 25%
- 30%
as per the policy term chosen.
2. Maturity Benefit
On surviving the policy term, you receive:
- 40% of Sum Assured (as Sum Assured on Maturity)
- Vested Reversionary Bonus, if declared
- Terminal Bonus, if any
3. Death Benefit
In the unfortunate event of the Life Assured’s death (policy in force), the nominee receives:
Higher of the following:
- Sum Assured on Death + Vested Reversionary Bonus + Terminal Bonus
- 105% of Total Premiums Paid##
Where:
- Sum Assured on Death = Higher of Sum Assured^ or 11 times Annualized Premium
- Death Benefit is payable irrespective of Survival Benefits already paid
4. Bonus Benefit
Being a participating plan, it earns:
- Reversionary Bonus (based on yearly valuation)
- Terminal Bonus (payable on maturity, death, or surrender)
5. Additional Advantages
- Premium discounts for higher Sum Assured
- Flexibility to choose premium paying term
- Tax benefits under current tax laws^^
Why Choose Smart Money Back Plus?
Security
Life insurance cover ensures financial protection for your family.
Flexibility
Choose limited payment terms of 7, 10, or 12 years.
Simplicity
Get periodic payouts exactly when you need them.
Reliability
Receive 130% of the Sum Assured over policy term along with bonuses.
Who can buy?
Frequently Asked Questions (FAQ)
What is SBI Life – Smart Money Back Plus?
It is a non-linked, participating savings plan offering periodic payouts, life cover, bonuses, and maturity benefits.
Who should buy this plan?
Anyone wishing to receive periodic money-back benefits while ensuring family protection should consider this plan.
Are bonuses guaranteed?
No. Bonuses like Reversionary Bonus and Terminal Bonus are non-guaranteed and depend on company performance.
Can I get tax benefits?
Yes, tax benefits are available as per provisions under the Income Tax Act, 1961.
Are riders available?
Yes, you may choose the SBI Life – Accident Benefit Rider for enhanced protection.
Disclaimer: This page provides general information about SBI Life – Smart Money Back Plus and other life insurance plans. Bonuses, benefits, and features mentioned are subject to policy terms, conditions, and company performance. Tax benefits are as per prevailing Income Tax laws and may change. Please read the official policy brochure and consult a financial advisor before making any insurance decisions. This content is for informational purposes only and does not constitute insurance advice.