SBI Life Insurance ₹50,000 Per Year Plan for 5 Years

SBI Life Insurance provides plans for people who intend to pay insurance premiums for a period of a few years, rather than for the entire period of the policy. Under this type of plan, the policyholder invests ₹50,000 only for 5 years, but the policy can provide benefits for the full policy term. This plan is specifically designed for those who want to pay premiums for 5 years along with assured benefits and bonuses in future. The life protection, benefits and bonuses will depend upon the specific plan selected by the policyholder.

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What Is the SBI Life Rs. 50,000 Per Year Plan for 5 Years?

SBI Life Rs. 50,000 per year for 5 years refers to a limited premium paying policy in which a policyholder pays Rs. 50,000 annually for 5 years. The benefits from these plans will depend on the product you select (traditional endowment, term plan with return of premium, ULIP).

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What are the Features of SBI Life 5-year Plans?

Every SBI Life insurance plan is designed to protect policyholders against life uncertainties. Below are some of the features of the SBI Life 50000 plan for 5 years:

Limited Premium

These premiums are paid only for 5 years; after this period, this policy will continue to function the same without premium renewals.

Life Cover

Life insurance protection against death lasts throughout the life of the policy. So, your term insurance plan guarantees you a long period of financial security.

Maturity Benefit

Maturity benefits of a life insurance policy can be paid in a lump sum or in instalments. This amount can be used to support your kids' education, invest in a new house, or save money for a stress-free retirement.

Tax Benefits

Life insurance premium instalments qualify as a taxable deduction subject to the Section 80C provisions of the Indian Income Tax Act. The benefit of death paid out as per this policy is also free of any taxes as per the provisions of Section 10(10D).

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Example of SBI Life Insurance ₹50,000 Plan for 5 Years

Let's look at the example below to understand how the SBI Life ₹50,000 plan for 5 years works.

Rohit, a 32-year-old man, is keen on having a life insurance policy which he can enjoy with minimal premium payments for a very long period. He settles on an SBI Life limited-pay plan with which he will be paying only for five years, a total of 50,000 per year. He will pay 2. 5 lakh in his entire period of premium payment.

Rohit's life insurance will be valid, and his family will be financially supported even if he stops paying the premiums once the fifth year has passed. In the meantime, he would be entitled to the maturity benefits at the end of the time period and get the bonuses or the market returns if the plan he chose includes those features.

These kinds of plans are best suited for people who might have unpredictable income or prefer to pay their own premiums in an efficient way while still enjoying their life insurance benefits eventually. Maturity value and the benefits to be received are based on the actual plan, the policy term, how the bonus performs or how the fund returns are doing.

SBI Life Rs 50,000 Per Year Plans

The short-term premium requirement with long-term cover and maturity benefits offered by SBI Life's Rs. 50,000 per year plan for 5 years is the kind of plan that could be just what you need for planning your future with consistent saving methods. Please have a look at these SBI Life investment plans which might help you achieve your financial goals:

SBI Life Plan Name	Entry Age	Max. Maturity Age
SBI Life- Smart Platina Assure	30 days- 60 years	99 years
SBI Life – eWealth Plus	5 years- 50 years	65 years
SBI Life- Smart Fortune Builder	2 years- 55 years	70 years
SBI Life- Retire Smart Plus	20-60 years	70 years

Who Should Consider SBI Life Insurance 5-Year Plan?

Salaried persons seeking life insurance with a short premium-paying term.
Parents preparing for their children's next year's school costs/marriages.
Self-employed professionals seeking both insurance and savings
Anyone who wants a disciplined investment practice alongside life protection

What are the Documents Required to Buy SBI Life 5-Year Plan?

To apply for an SBI Life ₹50,000 per year plan, you need to submit a few basic documents for identity and income verification. Keep these handy when applying online or offline:

Identity Proof: Aadhaar Card or PAN Card
Address Proof: Aadhaar, Passport, Utility Bill, or Rent Agreement
Income Proof: Last Salary slip, Form 16 or ITR.
Photograph: A recent passport-sized photograph

How To Buy SBI Life Insurance Plans Online From Policybazaar?

You can buy an SBI LIFE Term Insurance plan online by following the steps:

Step 1: Visit Policybazaar and select an SBI Life Insurance plan.
Step 2: Type in your name, gender, phone number, and date of birth.
Step 3: Write down your smoking habits, level of education, job type, and yearly income.
Step 4: Choose the SBI Policy that works best for you and pay for it.
Step 5: After you pay the first premium, SBI Life Insurance will check your policy form and send you your policy.

Is the SBI Life Insurance ₹50,000 Per Year Plan for 5 Years A Good Option?

Yes, SBI Life Insurance ₹50,000 Per Year Plan for 5 Years is a good option for people who want a limited premium payment term. When you decide to invest in an SBI Life investment plan, you will be assured of benefiting from the best features and returns in fulfilling all your life goals. SBI's five-year policy is a popular one, as it is an expert in managing a huge customer base and aims at the smooth processing of claims.

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FAQs

Q: How much does a Rs. 50,000 SBI Life insurance policy cost?

Ans: The price of a 50,000 life insurance policy premium is mostly decided by factors like your age, medical condition, insurance policy type (term, whole life or savings) and tenure.
Q: What is the SBI ₹5,000 per month scheme?

Ans: The SBI 5000 scheme is life insurance that is also an investment, offered by SBI Life, that promises you a monthly return and a death benefit.
Q: How can I surrender my SBI Life policy before maturity?

Ans: If you wish to surrender an SBI Life insurance policy, you have to submit the surrender application and documents, such as the principal policy documents, to the nearest branch of the company.
Original policy documents
A cancelled cheque (cheque should be in the name of the policyholder)
Bank Passbook/Statement
Q: How to cancel SBI Life Insurance policy online?

Ans: Log in to your SBI Life Insurance account
Go to the policy management section or to the policy cancellation section
Fill in all the required details like your policy number, personal details, and cancellation reason
Submit the request of cancellation
Q. What is the SBI Life policy for 5 years maturity?

Ans: SBI Life Insurance Company Limited offers 1 to 5 year saving plan through Life-Shubh Nivesh. In the SBI Life-Shubh Nivesh, one gets a combination of income, savings, and insurance cover for oneself and one's loved ones. According to the requirement of the policyholder, the maturity benefit can be opted for as regular income or a lump sum for a selected time period, with the flexibility of one's choice.
Q: What is SBI Life 1 Lakh Policy per year?

Ans: SBI Life Insurance 1 Lakh is for rich people such as Ultra-High Net Worth Individuals (U-HNI). This plan for Ultra-High Net Worth Individuals is primarily a protective plan, and only the death benefit will be available to the beneficiary/nominee of the assured person.
Q: What happens if I miss a premium payment in the SBI Life ₹50,000 plan?

Ans: SBI Life Insurance accepts payments via online and offline channels. For online payment, net banking (NB), credit card, debit card, mobile banking, UPI, or SI are available options. Whereas branch counters, POS terminals, SBI ATMs or NACH are options of payment under the offline mode.
Q: Where should you pay the premium for SBI Life’s 5-year investment plans?

Ans: SBI Life accepts both online and offline modes of payment. For online mode, the available options are net banking (NB), credit card, debit card, mobile banking, UPI or SI. For offline mode, the available options are branch counter, POS terminal, SBI ATM or NACH.
Q: How do you get an SBI Life premium-paid certificate?

Ans: A premium paid certificate or tax-saving certificate from SBI Life Insurance can be generated online by logging in to the SBI Life website/ mobile app, collected at the branch counter, or by giving a missed call to 022-62458504 (the call doesn't connect but registers your request automatically).
Q: What is the grace period in SBI Life investment insurance?

Ans: You have 15 days grace period in a month if you're paying by monthly instalment, but 30 days grace period in other payment modes.
Q: How much is the SBI Life investment insurance plan's surrender value?

Ans: You may surrender the insurance policy of SBI Life during the policy term at any time, but it should not be too frequent, as policyholders are usually advised not to surrender their life insurance policies for the first 5 or 10 years.
Q: Am I allowed to take a loan against SBI Life investment plans?

Ans: Yes, you can take a loan against your SBI policy, provided you follow the complete rules and regulations.
Q: What is the 60000 SBI scheme?

Ans: The phrase "60,000 SBI scheme" refers mainly to making a minimum deposit of 60,000 against a 5-year tenure in the SBI Annuity Deposit Scheme. The 60000 SBI scheme is an SBI Bank product.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance 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

+On the basis of your profile

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 410/month (Rs.14/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age rounded off to nearest 10

+Rs. 245 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 15/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 504/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 494/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 636/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 918/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,286/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 453/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.582/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 786/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,592/month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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