SBI Life Investment Plan for 5 Years

SBI Life investment plan for 5 years is a good investment option for planning out the short and mid-term financial goals. Five years is a healthy tenure from the financial perspective as it accumulates a good amount for wealth creation. You will learn about the SBI Life Investment plan for 5 years in detail through this article.

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Benefits of SBI Life Investment Plan for 5 Years

Two of the most prominent benefits of the SBI Life investment plan for 5 years are as follows: 

  1. Death benefit 

    If the policyholder dies within the tenure of the investment plan, then the beneficiary of the policyholder gets the insurance cover. 

  2. Maturity benefit

    If the policyholder outlives the term of the insurance cover and pays all the determined premiums on time, then the policyholder receives the sum assured or the maturity benefit. This amount is based on the premiums you have paid throughout your tenure and the interest you gained over it.

SBI Life Investment Plan for 5 Years

Following are some of the best SBI Life investment plans for 5 years: 

  1. SBI Life – Smart Elite Plan

    SBI Life – Smart Elite plan is most suitable for individuals who belong to the high-income group. You get full autonomy in the fund's decision in which you wish to invest. This is a unit-linked insurance plan with a maturity period of 5 years. Individuals over the age of 18 can draw up this policy. The maximum age limit for this plan is 65 years. 

    The returns that you get over the years vary depending upon the market situation. You can start withdrawing from this plan in the 6th year. The return amount will be paid to you in a lump sum. Apart from having the maturity and the death benefit, you also get the accidental death and the disability rider. 

  2. SBI Life – Smart Privilege Plan

    In this plan, investors can start as early as possible. The minimum age required for investing in the plan is 13 years. Parents or guardians can invest in this policy on behalf of their children. The maximum tenure limit for this plan is 70 years. This plan is unit-linked. 

    During the tenure, you can switch between the various funds. The returns that you accumulate throughout tenure are dependent upon the market performance. This is a non-participating plan. It means that the policyholder does not get any monetary benefit in the form of dividends while the plan is in motion. 

    Returns that policyholder garners during the tenure are invested again in the market. This plan is ideal for investors interested in wealth creation and insurance. It acts as an endowment plan that extends its benefits to your family. Upon maturity, the amount will be paid to you in a lump sum.  

  3. SBI Life – Smart Wealth Builder Plan

    Investors who aim for capital appreciation and wealth generation can invest in this plan. This plan has the lowest entry age among all the SBI Life investment plans combined. You can start at the age of 7 years to start investing in this plan. 

    SBI Life Smart wealth builder generates income for the investors by investing in the market. Investors do not get any dividends during the term. The maturity benefit is determined by the market performance. The maturity benefit will be paid to you in a lump sum. 

    While the policy is in motion, you can withdraw the amount under specified circumstances. The debited amount will be deducted from the sum assured. Then it will be paid to you as a maturity benefit. You get the option to choose from the 11 different funds as per your suitability. 

  4. SBI Life – Shubh Nivesh Plan

    SBI Life – Shubh Nivesh Plan is a participating plan. This plan provides you with maturity benefit, and you get monetary returns while the policy is active through the dividend declaration. The returns you accumulate over the years will depend on the fund's market performance. 

    18 years is the minimum entry age for the plan, and the maximum entry age for the plan is 60 years. In this plan, you get the option to extend the tenure to provide you with cover for your whole life. 

    It is also an endowment plan that extends its protection to your family. In case of an eventuality, the beneficiary gets the death benefit and gets the revised bonus. This bonus is also revised and added to the maturity benefit. 

    SBI Life – Shubha Nivesh Plan also offers policyholders riders along with the cover of the plan. 

  5. SBI Life – Saral Pension

    This plan is curated to take care of the needs of the retired individuals or soon will be retired. It culminates interest throughout tenure and provides benefits to the policyholder at the time of term-end. 

    Even though it is a pension plan, individuals at the age of 18 can also avail this policy. The policy's tenure can be extended for an additional 5 years depending upon the frequency of the premium payment. 

    You get added benefits in the form of bonuses as follows: 

    • 2.50% will be added and revised for the first 3 years of the policy tenure. 

    • 2.75% will be added and revised for the next 2 years of the policy tenure. 

    While the policy is in motion, you are sure to get the added benefits over the basic sum assured. At the time of availing of the death benefit, the bonuses are revised and added to the death benefit amount. It is paid in a lump sum to the beneficiary of the policyholder. 

  6. SBI Life – Gramin Bima

    It is a simple micro-insurance plan that you can avail yourself of in a hassle-free manner. This plan is non-linked. Therefore, you do not have to worry about timing the market or the market performance. 

    This policy does not offer any maturity benefit. You are allowed to surrender the policy 1 year after purchase. There are no surrender benefits that are added. Surrendering the policy during the active tenure can attract a penalty. 

    You get all the premium paid back after the taxation when you surrender the policy. 

Features and Benefits of the SBI Life Investment Plan for 5 Years

Following are some of the features and benefits of the SBI Life Investment Plan for 5 years:

  • It helps you plan your future better. 

  • You can make it goal-specific. If you have mid-term or long-term financial goals, then this policy is the best for you. 

  • With its low tenure, you accumulate better returns in a shorter period. 

  • SBI Life Investment plans are better suited for individuals looking for capital appreciation or aim to generate wealth in a short period. 

  • You get full autonomy in the funds in which you wish to invest. Switching between the funds is also allowed. 

  • Schemes under this plan are endowments. Therefore, you do not have to worry about purchasing additional coverage for your family. The protection cover gets extended to them as well.


  • How is the premium for the SBI Life Investment plan scheme decided?

    Premiums are depended on the policy cover and the term of the policy. Under SBI Life investment schemes, you also get to choose the frequency with which you wish to invest in it. The more the frequency lower the premium amount will be. 
  • Do I get tax benefits on SBI Life Investment plans? 

    Yes, you get tax rebates on the premiums that you pay under the SBI Life investment scheme. All the rebates are offered under the Income Tax Act, 1961, Section 80 C. Under this section, you can claim rebates on the premium amount up to Rs. 1.5 Lacs. 
    While filing your income tax returns form, you need to ask for rebates. The amount you receive as a maturity or death benefit is completely tax-free.
  • Can I withdraw money invested in the SBI Life investment plan for 5 years?

    These schemes have a lock-in period of 5 years. Therefore, you cannot make a full or partial withdrawal within the term period. In case of emergencies or a certain situation, the policyholder is allowed to withdraw the amount. However, it will attract penalties. 
  • Who manages SBI Life Investments schemes? 

    All the schemes offered by SBI are managed by the financial and statutory body of the State Bank of India. It is a government-owned institute. 
  • Can I surrender the policy after one year? 

    Yes. You can surrender the policy after one year of purchase if you are unhappy with the benefits. Surrendering a policy before the term ends can attract a penalty from the insurer. Policyholders are advised to surrender the policy during the cooling-off period so that they will get all the paid premiums back.

Past 5 Year annualised returns as on 01-06-2024

^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.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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