Protect your loved ones with stable, long-term financial security. Whether you’re planning for life protection, savings, investments, child education, or retirement, our wide range of Life Insurance Plans ensure you receive the right coverage, guaranteed benefits, and peace of mind.
Among our leading offerings is the SBI Life – New Smart Samriddhi, an Individual, Non-Linked, Non-Participating Life Insurance Savings Product designed to offer guaranteed additions, simple enrolment, and lifelong protection.
Why Choose Life Insurance?
- Financial security for your family
- Guaranteed returns or market-linked growth (depending on plan type)
- Savings + Protection in one plan
- Tax benefits under Income Tax Act*
- Long-term wealth creation
- Ideal for life goals: Education, marriage, retirement, emergency fund
Featured Plan: SBI Life – New Smart Samriddhi
A Guaranteed Savings Plan With Life Cover & Assured Additions
An Individual, Non-Linked, Non-Participating Life Insurance Savings Product that ensures protection and guaranteed returns throughout your policy term.
Key Features
- Guaranteed Additions at simple rates
- 5.5% for annualized premium below ₹30,000
- 6.0% for annualized premium ₹30,000 & above
- Limited Premium Payment – pay for a short period & enjoy long-term benefits
- No Medical Examination Required
- Insurance cover for the full policy term
- Quick & simple onboarding process
Guaranteed Additions are calculated annually on cumulative premiums paid (excluding taxes and extra premiums).
Plan Highlights
- Non-Participating Savings Plan
- Protection + Savings
- Guaranteed Additions
- Limited Premium Commitments
- Affordable & flexible options
Benefits of SBI Life – New Smart Samriddhi
1. Security
Life cover + savings to secure your loved ones financially.
2. Simplicity
Easy application process, no medical tests, fast policy issuance.
3. Reliability
Get benefits at maturity for policy terms of 12, 15, or 20 years
Pay for only 6, 7, or 10 years respectively.
4. Guaranteed Additions
Receive fixed GA at the end of every policy year for in-force policies.
5. Affordability
Get both life cover and savings with premiums that fit your budget.
6. Tax Benefits*
Enjoy tax deductions as per prevailing tax laws.
Benefits Illustration
Maturity Benefit
If the life assured survives till policy end:
Maturity = Basic Sum Assured + Accrued Guaranteed Additions
Death Benefit
In case of unfortunate death during the policy term, the nominee receives:
Sum Assured on Death + Accrued Guaranteed Additions
Where, Sum Assured on Death is the highest of:
- Basic Sum Assured
- 10 × Annualized Premium
- 105% of total premiums paid (excluding taxes & extra premiums)
Who can buy?
Frequently Asked Questions (FAQ)
What is Guaranteed Addition in SBI Life – New Smart Samriddhi?
Guaranteed Additions (GA) are fixed annual benefits that accumulate at 5.5% or 6.0%, depending on premium amount.
Do I need a medical test for this plan?
No. This plan does not require any medical examination.
Who should buy this plan?
Ideal for individuals seeking guaranteed savings + life cover, with low risk and short premium payment periods.
Are tax benefits available?
Yes, tax benefits* may be available under Income Tax Laws.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. All benefits, features, terms, and conditions are as per the respective insurance provider’s official documents. Tax benefits are subject to change as per prevailing Income Tax Laws. Please read the policy brochure carefully before purchasing any insurance plan.