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SBI Smart Platina Supreme Plan
SBI Life Smart Platina Supreme is a guaranteed savings and income plan that gives you life cover during the policy term and a steady assured income after maturity. It also returns 110% of your total premiums at the end of the payout period. As a non-linked, non-participating plan, it offers safe and predictable returns, making it a practical choice for your long-term goals.
- 4.8++ Rated
- 12.02 Crore Registered Consumer
- 51 Partners Insurance Partners
- 5.9 Crore Policies Sold
ULIP Plans
- Plan starting from ₹1,000/month
- Save upto ₹46,800 in Tax under section 80C^
- Zero LTCG Tax¶
- In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/month & Get ₹1 Crore# Tax-Free*
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ULIP Plan
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SBI Life Ulip Plans
- SBI Smart Platina Supreme Plan
List of ULIP Funds ~
Fund Name
AUM
NAV
Returns (in %)
3 Year
5 Year
10 Year
Equity Fund
SBI Life
AUM:81,769 Cr
81,769 Cr
NAV
209.16
-1.34%
Returns
12.81%
Opportunities Fund
HDFC Life
AUM:36,958 Cr
36,958 Cr
NAV
78.68
-0.78%
Returns
18.01%
High Growth Fund
Axis Max Life
AUM:11,792 Cr
11,792 Cr
NAV
117.78
-1.21%
Returns
25.57%
Opportunities Fund
ICICI Prudential Life
AUM:3,553 Cr
3,553 Cr
NAV
62.13
-0.45%
Returns
15.86%
Multi Cap Fund
Tata AIA Life
AUM:9,302 Cr
9,302 Cr
NAV
65.06
-0.48%
Returns
19.08%
see more plans
Disclaimer :
˜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 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
What is the SBI Life Smart Platina Supreme Plan?
The SBI Life Smart Platina Supreme Plan, offered by SBI Life Insurance Company Ltd., is an individual, non-linked, non-participating life insurance guaranteed income plan.
It is designed to offer two important financial supports:
- Life Insurance Cover: It is provided during the policy term to financially protect your family if something happens to you during the term.
- Regular Guaranteed Income: It is offered after the policy matures, which can help you meet long-term goals such as a child's education, retirement planning, secondary income, etc.
Features of SBI Smart Platina Supreme Plan
The key features of the SBI Smart Platina Supreme Plan are as follows:
- Security: This investment plan provides life cover during the policy term for the financial protection of your family.
- Flexibility: You can choose your Premium Payment Term (PPT), Policy Term, income pay-out period, and frequency.
- Guaranteed Income on Maturity: Option to receive guaranteed income (level or increasing) during the payout period.
- Return of Premiums: At the end of the pay-out period, you receive 110% of the total premiums you paid (excluding taxes and extra premiums).
- Option to Take Lump Sum: Instead of periodic income, you have the option to take the discounted value of all future benefits (future guaranteed income + 110% of premiums paid) as a lump sum.
- Rider for Enhanced Protection: Option to add the SBI Life Accident Benefit Rider to get additional cover, such as Accidental Death Benefit (ADB) or Accidental Partial Permanent Disability Benefit (APPD).
- Policy Loan Facility: The policy can be used as collateral for a loan if you need funds in an emergency.
Eligibility Criteria for SBI Life Smart Platina Supreme Plan
| Criteria | Details |
| Entry Age (last birthday) | - Min: 3 years (child must be 18 at maturity); - Max: 57 years (POSP & CPSC-SPV), 60 years (other channels). |
| Maturity Age (last birthday) | - Min: 18 years; - Max: 65 years (POSP & CPSC-SPV), 75 years (other channels). |
| Premium Payment Term (PPT) | 7, 8, or 10 years |
| Policy Term (PT) | 10, 12, 13, or 15 years (as mapped to PPT) |
| Pay-out Period | 15, 20, 25, or 30 years |
| Minimum Annual Premium | ₹50,000 per year |
| Maximum Annual Premium | - POSP & CPSC-SPV: as needed to stay within ₹25 lakh maximum Sum Assured on Death; - Other channels: No upper limit (subject to underwriting). |
| Minimum Sum Assured | ₹5,50,000 |
| Maximum Sum Assured | - POSP & CPSC-SPV: ₹25 lakh on death per life; - Other channels: No fixed limit (as per underwriting rules). |
| Premium Payment Modes | Yearly, Half-yearly, Monthly |
| Non-Yearly Mode Factors | - Half-yearly: 51% of annual premium; - Monthly: 8.5% of annual premium. |
Guaranteed Income Options under SBI Life Smart Platina Supreme Plan
The SBI Smart Platina Plan is a guaranteed savings plan that allows you to choose how you want your guaranteed income to be structured and paid:
- Option 1 – Level Guaranteed Income: Same guaranteed income amount throughout the payout period.
- Option 2 – Increasing Guaranteed Income: Guaranteed income increases every year at a simple rate of 5% per annum from the 2nd year of payout.
NOTE: You can also choose the income frequency (Yearly, Half-yearly, Quarterly, Monthly); Guaranteed Income is calculated using a Guaranteed Income Factor, your annualised premium, and a modal factor for the chosen frequency.
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns |
|
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹39.1 | ₹91 Cr | 5.26% | 6.95% | |
| Bandhan Life Secure Fund | ₹28.09 | ₹46 Cr | 5% | 4.76% | |
| Bandhan Life Blue Chip Equity Fund | ₹32.89 | ₹198 Cr | 16.09% | 13.12% | |
| Bandhan Life Stable Fund | ₹33.86 | ₹18 Cr | 9.87% | 10.01% | |
| Bandhan Life Accelerator Fund | ₹51.94 | ₹239 Cr | 17.97% | 14.79% | |
| Bandhan Life Opportunity Fund | ₹40.73 | ₹238 Cr | 22.98% | - | |
| Bandhan Life Pension Debt Fund | ₹31.08 | ₹4 Cr | 5.09% | 6.74% | |
| Bandhan Life Pension Enhanced Equity | ₹122.52 | ₹18 Cr | 18.84% | 14.84% | |
| Aegon Balanced | ₹47.27 | ₹12 Cr | 10.62% | 10.45% | |
| Aegon Enhanced Equity | ₹75.77 | ₹122 Cr | 18.59% | 14.62% | |
| Aegon Pension Balanced | ₹53.93 | ₹2 Cr | 11.37% | 10.9% | |
| Aegon Pension Index | ₹93.13 | ₹6 Cr | 13.7% | 12.79% | |
| Aegon Pension Secure | ₹28.19 | ₹1 Cr | 4.6% | 5.24% | |
| Aegon Life Group Equity Fund | ₹65.16 | ₹11 Cr | 19.81% | - | |
| Bandhan Life Flexi Cap Fund | ₹11.48 | ₹55 Cr | - | - |
Benefits of SBI Smart Platina Supreme Plan
The key benefits of the SBI Smart Platina Supreme Plan are as follows:
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Maturity Benefit
You receive a steady Guaranteed Income during the pay-out period and 110% of the total premiums paid at the end, with an option to take the entire amount as a single lump sum.
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Death Benefit
Your nominee gets a lump-sum amount, which will always be the highest value among the plan’s guaranteed calculations, and the policy ends.
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Guaranteed Income Options
You can choose to receive guaranteed income for 15, 20, 25, or 30 years and select yearly, half-yearly, quarterly, or monthly payouts as per your preference.
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Extra Income Benefits
Higher premium payments and SBI Group or SBI Life staff eligibility can give you extra guaranteed income as an additional benefit.
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Surrender & Loan Facility
After paying the required premiums, you can surrender the policy for a value or take a loan of up to 50% of the surrender value at the applicable interest rate.
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Optional Accident Rider
You can add an Accident Benefit Rider to get extra financial protection in case of accidental death or accidental permanent partial disability.
Policy Details of SBI Smart Platina Supreme Plan
- Premium Payment & Grace Period: You can choose your premium payment mode and still get a grace period to pay if you miss the due date while keeping the policy active
- Policy Lapse & Revival: If premiums stop, the policy may lapse or become Reduced Paid-up, but you can revive it within five years by paying the pending amounts with interest.
- Surrender Value Rules: You receive a surrender value after paying the mandatory premiums, and the value may vary depending on guaranteed and special calculations.
- Loan Rules: You can borrow up to half of the surrender value, but the policy may end if the loan and interest together exceed this value.
- Free Look Period: 30 days from receipt of policy (including online), with refund of premium minus proportionate risk premium, medical costs and stamp duty if returned.
- Other Features:
- No participation in profits/bonuses (non-participating product).
- Provisions for assignment, nomination, non-disclosure and prohibition of rebates follow the Insurance Act, 1938, as amended.
How Does the SBI Smart Platina Supreme Plan Work?
Following is a step-by-step guide to how the SBI Smart Platina Supreme Plan works:
- Choose Premium & Payment Mode: Decide how much you want to pay each year (minimum ₹50,000) and whether you want to pay yearly, half-yearly, or monthly.
- Select Terms & Income Option: Pick your Premium Payment Term (7, 8, or 10 years), Policy Term (e.g., 10–15 years), Pay-out Period (15, 20, 25, or 30 years), and type of Guaranteed Income (Level or Increasing by 5% yearly from 2nd year).
- Choose Income Frequency: Decide if you want income yearly, half-yearly, quarterly, or monthly. Income is calculated using a simple formula:
Guaranteed Income = Guaranteed Income Factor × Annual Premium × Modal Factor - Pay Premiums: Pay your chosen premium regularly for the selected term. Life cover stays active throughout the policy.
- Receive Guaranteed Income: After the policy term ends, you start receiving the guaranteed income for your chosen payout period. Income can be level or increase 5% yearly from year 2.
- Get 110% of Total Premiums: At the end of the pay-out period, 110% of all premiums paid is given as a lump sum, whether the life assured is alive or not.
- Optional Lump-sum: You or your nominee can choose to receive the discounted value of all future guaranteed income plus 110% of premiums as a single lump sum instead of periodic payments.
Suicide Exclusion Criteria
The following is the suicide exclusion criterion of the SBI Life Smart Platina Supreme Plan:
- If the life assured dies by suicide within 12 months from the start of the policy or from policy revival, the nominee gets 80% of the total premiums paid or the surrender value, whichever is higher.
- After 12 months, normal death benefit rules apply.
FAQs
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Is SBI Smart Platina Supreme a ULIP or market-linked plan?
No, the SBI Smart Platina Supreme plan is not a ULIP plan. It is a non-linked, non-participating guaranteed savings and income plan; the benefits are defined in advance and do not depend on market performance. -
Can I switch from Level to Increasing Guaranteed Income later?
No. You must choose Level or Increasing income at the start. This choice cannot be changed later. -
Can I change income frequency after maturity?
You can change it before the payout starts. Once income payments begin, the frequency cannot be changed. -
What if I stop paying premiums?
- If at least one year's premium is paid, the policy becomes Reduced Paid-up, and benefits reduce proportionately.
- If no premium is paid, the policy lapses with no benefits.
- You can revive the policy within 5 years by paying due premiums with interest.
˜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 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
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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