Life moves in milestones—first job, marriage, child’s education, a dream vacation or retirement. You deserve a plan that supports you at each step and gives you financial protection along the way.
With the SBI Life Money Back & Income Plan you get:
- Periodic cash payouts to enjoy life’s special moments
- Comprehensive life cover throughout the policy term
- Flexibility to tailor premium-terms and payout structure
Why Choose This Plan?
- Periodic Cash Payouts: Receive survival benefits at fixed intervals during your policy term, helping you fund major goals without stress.
- Life Insurance Protection: In the event of an unforeseen death during the policy term, your family receives a lump sum (higher of sum assured + bonuses or 105% of premiums paid) ensuring financial security.
- Maturity Benefit: On surviving to policy maturity you get a lump sum payment: 40% of Sum Assured + vested reversionary bonus + terminal bonus (if declared).
- Flexible Premium Payment: You can choose premium payment term, payment frequency (yearly/half-yearly/monthly) and a sum assured suited to your goals.
- Tax Benefit: Applicable tax benefits under Indian Income Tax laws (subject to change) apply.
- Simple Entry & Clear Structure: Entry age starts from just 30 days onward, minimum Premium (yearly) from around ₹20,000 onwards (as per online offer).
How the Benefits Work
Survival / Periodic Payouts
At specified intervals during the policy term (for example every 5 years depending on chosen variant) you receive a percentage of Sum Assured as survival benefit. These payouts help you achieve key financial goals along the way.
Maturity Benefit
If you survive till maturity and your policy stays in-force:
On maturity you receive: 40% of Sum Assured + vested bonuses + terminal bonus (if any).
Death Benefit
If the life assured dies during the policy term while policy is in force:
Your nominee receives the higher of:
• Sum Assured on death + vested bonus + terminal bonus, OR
• 105% of total premiums paid up to date of death.
Surrender / Paid-up Modes
If you stop premium payments after the policy acquires surrender value or becomes paid-up, benefits reduce accordingly. Details are in the policy document.
Ideal For Whom?
This plan is ideal if you are:
- Planning mid-term financial goals (education, wedding, vacation) and want periodic payouts.
- Seeking both savings and protection in one plan.
- Comfortable with a longer-term commitment (15 + years).
- Looking for disciplined premium payment with life cover.
Simple Steps to Get Started
- Assess your goals: Identify when you need cash inflows (5 yrs, 10 yrs, etc) and the lump sum at maturity.
- Choose Sum Assured & Term: Based on your age, premium affordability, and time horizon.
- Select Premium Payment Term & Frequency: Pick yearly/half-yearly/monthly mode and premium payment span (7-12 years etc).
- Apply online or via advisor: Submit proposal, medical and underwriting as required.
- Enjoy the journey: Payouts arrive as per schedule; maturity or death benefits follow as per policy.
Why Choose SBI Life?
- Trusted name in Indian life insurance with strong regulatory compliance.
- Transparent disclosures, customer service helplines available.
- Online quoting and application capability for convenience.
- Balanced features: savings + protection + periodic income.
Important Disclaimers & Notes
- Benefits shown are illustrative. Bonus declarations are not guaranteed, they depend on company’s experience.
- Premiums & benefits vary based on age, term, sum assured, risk profile and underwriting.
- Tax benefits are subject to change as per the Income Tax Act and prevailing laws.
- Please read the sales brochure, policy document and Rider brochures (if you opt for accident/critical illness riders) carefully before concluding a sale.
- This content is for informational purposes only and not an offer or solicitation to buy the policy.