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SBI Life Saral Swadhan Plus Plan
SBI Life ‘Saral Swadhan Plus’ is a non-linked, non-participating term plan that provides options of premium return, where the premiums paid are returned on the maturity of the policy. Therefore, the plan guarantees the protection of the capital invested as well as provides comprehensive coverage at competitive rate.
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- Take the first step to ₹1 Crore
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- 17.3 Crore Registered Consumer
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In-Built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/Month & Get ₹1 Crore# Tax-Free*
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SBI Life Investment Plans
- SBI Life Saral Swadhan Plus Plan
SBI Life Saral Swadhan Plus - Key Features
- Non-participating term plan with a fixed premium paying term of 10 years.
- Sum Assured is calculated as the multiple of annual premium and depends on the term chosen and age at entry.
- The plan provides life cover at affordable premium based on entry age and policy term.
- It is easy to purchase the policy online.
- The plan offers tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.
SBI Life Saral Swadhan Plus - Benefits
- On maturity, 100% or 115% of the premiums paid is returned. The percent depends on the policy term of 10 or 15 years respectively.
- On death, the nominees are paid the sum assured amount as per the plan.
- Policyholders are eligible to receive tax benefits under Indian Income Tax Act on all the premiums paid and the claim amounts as per section 80C and 10(10D).
SBI Life Saral Swadhan Plus - Product Specification
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
18 years |
55 years |
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Maturity Age (Last Birthday) |
- |
70 years |
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Policy Term (PT) in years |
10 or 15 |
|
|
Premium Paying Term (PPT) in years |
10 |
|
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Premium Paying Frequency |
Annual |
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Yearly Premium |
1500 |
5000 |
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Sum Assured |
30,000 |
475,000 |
SBI Life Saral Swadhan Plus - Premium Details
Annual premium (Rupees) and the Sum Assured for a male aged 30 years:
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Premium |
Sum Assured for 10 years term |
Sum Assured for 15 years term |
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3000 |
240,000 |
285,000 |
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4000 |
320,000 |
380,000 |
|
5000 |
400,000 |
475,000 |
SBI Life Saral Swadhan Plus - Policy Details
- Grace Period: On failure of the premium payments on the premium due date, the policyholder is provided with a 30 days grace period within which he/she can pay his /her premiums. If the policyholder fails to pay his premiums even within the grace period, then the SBI life insurance policy is subject to lapse.
- Policy Termination or Surrender Benefit: Policyholders can surrender the policy, only if premium has been paid for 3 full years. Typically, the Surrender Value is higher of the Special Surrender Value or the Guaranteed Surrender Value.
- Free Look Period: After receiving the policy documents, if the policyholder feels that he/she is not satisfied with the coverage provided or the terms & conditions of the policy; then, he/she is free to cancel his/her plan within the time period of 15 days of receiving the policy documents, if no claims have been done yet.
Exclusions
In the event of suicide committed by the insured within the first 12 months of the inception of the policy, only 80% of the total premiums paid are refunded to the nominee. In case of suicide within the first 12 months of policy renewal, higher of 80% of premiums paid or acquired Surrender Value is paid.
Documents Required
In order to purchase this policy, the policyholder has to submit an insurance application form / proposal form with correct address proof and proper medical health history with other KYC documents. The policyholder has to submit his Income proof as per the age of the insured and the sum assured chosen.
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Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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29 Sep 2026
While full online updates aren't possible due to mandatory UIDAISBI Life Traditional Plans Reviews & Ratings
(Showing Newest 10 reviews)
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ