SBI Life Insurance 50,000 per year Plan for 5 Years

Life insurance is not only about the financial protection of the family but also about working for life’s milestones through smart investments. You can fulfill life goals like buying a house or a contented financially independent retired life with SBI Life insurance. SBI offers multiple plans for tenures starting with 5 years. In addition, it is also easy to calculate SBI life insurance 50,000 per year plan for 5 years through an online calculator.

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Features of SBI Life 5 year Plans

Every SBI Life insurance plan is primarily curated to protect your dependents enduring the uncertainties of life. In addition, deliver a maturity value well above your investment with accumulated additions over the policy term. 

The policyholder is covered to receive two benefits:

  • Death Benefit – When you succumb to life’s vagaries during the policy term

  • Maturity Benefit – On surviving the policy term with wealth created over the years 

The SBI Life investment plan goes beyond the fundamentals to provide you with many bonuses that are prodding you to achieve your objectives. What are they?

  • A lowered burden to sweeten your future endeavors

  • Excellent returns despite a shorter investment horizon

  • Shield your family from a financial crisis in your absence

  • Options galore to fulfill your future financial planning

SBI Life Rs 50,000 Per Year Plans

Your choice is eclectic in SBI Life investment plans for 5 years or more, both in terms of savings through guaranteed additions or market-linked returns affording higher yields. 

The SBI Life investment plans worth looking at for fulfilling your financial objectives are:

SBI Life Investment Plans 
SBI Life Plan Name  Plan Class  PT / PPT/ SP   Entry Age  Maturity Age 
Smart Platina Assure Endowment  6 years  3 years  75 years
Shubh Nivesh  Variable Savings 5 years 18 years  65 years
Wealth Assure Unit Linked 10 years  8 years  70 years
Wealth Builder  Unit Linked  5 years  2 years  70 years 
Retire Smart  Unit Linked  Pension 5 years 30 years  80 years
Grameen Bima  Microfinance  5 years  18 years  NA
PT = Policy Term PPT = Premium Payment Term SP = Single  Premium 

SBI Life Investment Plans Analyzed 

It is time to examine the SBI Life investment plans threadbare now that you have identified them to eminently suit your financial design. 

  1. SBI Life Smart Platina Assure

    A non-linked, non-participating individual endowment plan guarantees assured returns while you pay the premium for a limited period. 

    Key Highlights:

    • Your life is covered in addition to guaranteed returns.

    • Assured guarantee additions are 5.25% and 5.75% at each yearend, depending on the chosen policy payment term.

    • You get two options of 6 and 7 years for policy payment for terms of 12 and 15 years.

    • You can pay the premium flexibly in monthly or yearly installments according to your convenience.

    • The minimum annualized premium is Rs.50,000. 

  2. SBI Life Shubh Nivesh

    An insurance-saving, non-linked, non-participating product with the option to choose a Whole Life coverage. In addition, you can choose to break the benefit into a regular income stream. 

    Key Highlights:

    • You ensure your family’s protection in addition to wealth creation and regular income flow for periods from 5 to 20 years.

    • You can choose to extend the coverage to your whole life.

    • You can pay regular premiums or choose the single pay option.

    • You can augment your coverage through riders against an additional premium.

    • The minimum single payment premium is Rs.43,000 with no cap on the upper limit. 

  3. SBI Smart Wealth Assure

    A Unit Linked Insurance Plan for individuals looking for higher yields in the investment through market-linked instruments. 

    Key Highlights:

    • You pay a single premium but enjoy life coverage for the policy term.

    • You can choose from a bouquet of 7 market-linked funds to earn higher returns.

    • Your investment is locked for 5 years, during which you cannot surrender the policy to liquidate.

    • You can augment your coverage by adding suitable riders.

    • The minimum premium is Rs.50,000 without any upper limit.

  4. SBI Life Smart Wealth Builder

    A Unit Linked Insurance Plan designed to meet your various needs through a single policy. It is an individual-linked, non-participating plan that caters to your life goals, including a retirement corpus. 

    Key Highlights:

    • Flexibility in premium payment with a choice for a regular, limited, and single payment while enjoying all the benefits throughout the policy term.

    • Your investment opportunities are enhanced with the option to choose from 11 market-linked funds. 

    • Additions are guaranteed according to the policy term.

    • The lock-in period for the plan is 5 years. 

    • The minimum single pay premium is Rs.65,000. 

  5. SBI Life Retire Smart

    Planning for retirement is one of your primary goals for a stable, financially independent life after superannuation. The plan is a pension product under the Unit-Linked class generating returns from asset allocation in market instruments. 

    Key Highlights:

    • Guaranteed additions comprising 210% of your annualized premium boost your fund value. 

    • You earn guaranteed additions from the 15th policy year paid the yearend until maturity. 

    • You can postpone your vesting age to suit your convenience.

    • You can choose from regular, limited, and single premium payment options to suit your individual preference. 

    • The minimum annualized premium is Rs.24000 for regular, Rs.40000 for limited, and Rs.1 Lac for single premium payment. 

  6. SBI Life Grameen Bima

    A non-linked, non-participating microfinance life insurance product tailored to protect your family from the devastation caused by the breadwinner’s demise. It is a pure-risk, hassle-free, affordable plan.

    Key Highlights:

    • Choose the affordable premium according to your financial resources. 

    • Pay your premium just once for continued coverage.

    • Enrolment is based on a questionnaire without the necessity for any pre-policy medical evaluation. 

    • The minimum single premium payable is Rs.300 for a maximum benefit of Rs.50000, based on different age bands. 

In Conclusion

SBI Life offers curated plans for individual financial preferences on top of a cover for life risk. Thus, you are assured of the best possible features and returns to meet your life goals when choosing an SBI Life investment plan. The icing on the cake is their experience in handling large audiences providing a seamless claim experience, should the need arise on the policyholder’s demise.

FAQ's

  • Where should you pay the premium for SBI Life’s 5-year investment plans?

    You can pay the premium for SBI Life plans using various online and offline facilities. You can pay the premium online using net banking, Visa Bill Pay, a mobile app, or standing instruction on your credit card. In addition, you can use the branch counter, POS terminal, SBI ATM, NACH debit, or direct account debit offline mode.
  • How do you get an SBI Life premium-paid certificate?

    You can get the premium paid certificate at the SBI portal, their branches, or give a missed call at 022-62458504.
  • What is the grace period in SBI Life investment insurance?

    You can get a grace period of 15 days for monthly premium frequency and 30 days for all other frequencies. 
  • How much is the surrender value for SBI Life investment insurance plans?

    You can surrender your policy anytime during the policy term. However, different rules apply for acquiring a surrender value for plans with a lock-in feature. 
  • Is a loan facility allowed against SBI Life investment plans?

    Yes, you can seek a loan against your policy, subject to complying with the applicable rules and regulations.

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