Your child deserves a future filled with opportunities, ambition, and financial freedom. With SBI Life – Smart Scholar Plus, you can proactively build a secure financial corpus that supports your child’s dreams—even in the face of life’s uncertainties. This market-linked child insurance plan (ULIP) helps you grow your wealth, protect your child’s future, and enjoy flexibility, protection, and long-term security.
Why Choose SBI Life – Smart Scholar Plus?
A perfect blend of insurance + investment, this plan empowers parents with:
Market-Linked Growth
Choose from 10 diverse fund options to grow your money with the power of capital markets.
Dual Protection Advantage
- Lump-sum payout to the family in case of the insured event
- Premium waiver ensures the policy continues uninterrupted even after the death of the life assured
Regular Loyalty Additions
Boost your fund value with loyalty additions for in-force policies at specific durations.
Liquidity from the 6th Year
Make partial withdrawals from the 6th policy year to manage unexpected expenses.
Key Highlights
- Child Insurance Plan
- ULIP-based Savings & Protection
- Market-Linked Growth
- Premium Waiver Benefit
- Long-term Financial Security
Features of SBI Life – Smart Scholar Plus
Lump Sum Benefit at Maturity
At the end of your policy term, you receive the entire fund value as a lump sum, helping you support child-related goals like higher education, career planning, or overseas studies.
Premium Waiver for Total Security
In case of the unfortunate death of the life assured, SBI Life pays the future premiums on your behalf. The policy stays active, ensuring your child’s future remains protected.
Ten Investment Funds
Choose from 10 expertly managed fund options, giving you flexibility to invest based on risk appetite and financial goals.
Loyalty Additions
Stay invested and be rewarded. Loyalty additions enhance your returns over the long term, depending on the policy term and premium payment.
Partial Withdrawals From 6th Year
After completing five policy years, enjoy liquidity to meet urgent financial needs.
Advantages of Smart Scholar Plus
Security
Ensure your child’s education and future expenses are covered even in your absence.
Reliability
Benefit from the inbuilt premium waiver, enabling your plan to continue without financial burden.
Flexibility
Customize your plan by choosing the premium amount, policy term, and fund options.
Liquidity
Access funds when needed through partial withdrawals starting from the 6th year.
Tax Benefits*
Save more with tax benefits under applicable income tax laws.
Plan Benefits
Maturity Benefit
At the end of the policy term, the Fund Value is paid in full as a lump sum.
Death Benefit
In case of unfortunate death of the life assured during the policy term:
You receive the higher of:
- Sum Assured, or
- 105% of the Total Premiums Paid^
Additionally:
- SBI Life continues paying future premiums (Premium Payor Waiver Benefit).
- The accumulated fund value is paid at maturity.
^Total Premiums Paid includes all premiums paid under the base plan, including top-up premiums (if any).
Accident Benefit
In case of:
- Accidental Death, or
- Accidental Total and Permanent Disability
An additional benefit equal to the Accident Benefit Sum Assured is paid (as per terms & conditions).
Note: Accident Benefit and Premium Payor Waiver Benefit are not available in Single Premium policies.
Important Note on ULIPs
- ULIPs do not offer any liquidity for the first five years.
- You cannot surrender or withdraw funds fully or partially before 5 years.
- ULIPs are market-linked and subject to risks associated with capital markets.
- NAV values can rise or fall depending on market performance.
Tax Benefits
You may avail tax deductions/exemptions as per the prevailing Income Tax laws in India, subject to change.
Always consult a tax advisor before investing.
Who can buy?
Disclaimer:
Unit Linked Insurance Products (ULIPs) are different from traditional insurance products and are subject to market risks. The premium paid is subject to investment risks associated with capital markets, and NAV may fluctuate based on market performance. SBI Life – Smart Scholar Plus is the name of the plan and does not indicate the quality, future prospects, or returns. ULIPs offer no liquidity during the first five years of the policy; partial or full withdrawals are not allowed during this period. Please read the sales brochure, terms, conditions, charges, and risk factors carefully before purchasing. Tax benefits are subject to applicable laws and may change. Consult your tax advisor for details. Past performance of fund options does not guarantee future returns.