SBI 1 Crore Life Insurance

SBI 1 Crore Life Insurance is designed to provide strong financial security for your family at an affordable cost. A high cover amount ensures your loved ones can manage expenses, repay debts, and maintain their lifestyle even in your absence. SBI Life, one of India's most trusted insurers, offers several term insurance plans that provide ₹1 crore coverage with flexible premium options and added rider benefits. In this article will cover the features, benefits, and reasons why choosing SBI Life’s 1 crore term insurance plan can be a reliable step toward long-term protection.

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₹1 Crore Life cover starting from ₹403/month⁺

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What is SBI 1 Crore Life Insurance

SBI 1 Crore term plan is a life insurance policy offered by SBI Life Insurance that offers a sum assured of Rs. 1 crore, paid to your nominee in case of your death during the policy term. If you are considering SBI Life, three policies are offered where the maturity amount reaches one crore. They are SBI Life Smart Shield Plus, Smart Platina Plus, and Smart Swadhan Supreme Insurance. SBI eShield is an online policy, while the other two are traditional insurance plans that also provide options like a term plan with return for those who want maturity benefits.

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⁺

SBI 1 Crore Life Insurance Plans

Plan Name	Entry Age	Min. Sum Assured
SBI Life Smart Shield Plus	18-65 years	Rs. 25 Lakhs
SBI Life Smart Platina Pulse	30 days-60 years	Rs.5,50,000
SBI Life Smart Swadhan Supreme	18-60 years	Rs. 25 Lakhs

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

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Features of SBI 1 Crore Life Insurance

The following table presents the features of all the 3 plans:

SBI Life Smart Shield Plus	SBI Life Smart Platina Plus	SBI Life Smart Swadhan Supreme
Choice of 3 plan options – Level Cover, Increasing Cover, or Level Cover with Future Proofing Benefit.	Choice of two income plan options – Guaranteed Income or Life Income to suit financial needs.	Life insurance cover at an affordable cost to protect your family.
Flexibility to customize the plan with Better Half Benefit and optional riders.	Guaranteed Income Benefit with fixed regular payouts during the chosen payout period.	Flexible premium payment options – regular pay or limited pay (7, 10, or 15 years).
Life cover is available up to 100 years (whole life) or 79 years for other options.	Maturity Benefit of 110% of total premiums paid is refunded at the end of the policy term.	Policy term options ranging from 10 years to 30 years.
Multiple premium payment choices – single, limited period, or throughout policy term.	Flexibility to choose income payout frequency – yearly, half-yearly, quarterly, or monthly.	Maturity benefit: 100% of total premiums paid# is returned at the end of the policy term.
Affordable premiums designed to fit into your financial planning.	Limited premium payment terms – 6, 7, 8, or 10 years, with optional rider protection.	Additional protection available through the optional Accident Benefit Rider

Benefits of SBI 1 Crore Life Insurance

The major benefits of SBI 1 Crore Life insurance are as follows:

SBI Life Smart Shield Plus
- Offers three cover options (Level, Increasing, and Future Proofing Benefit) so you can choose the plan that matches your financial goals.
- Provides the Better Half Benefit to safeguard your spouse’s future and additional rider choices like accidental death or disability cover for wider protection.
- Ensures life cover up to 100 years (whole life) or up to age 79, making it a reliable safety net for your family’s long-term financial stability.
SBI Life Smart Platina Plus:
- Provides life cover during the policy term, ensuring your family’s financial security.
- Offers guaranteed regular income, helping you manage long-term financial goals.
- Assurance of maturity benefit plus survival and death benefits makes it a dependable plan.
SBI Life Smart Swadhan Supreme
- Ensures financial protection for your loved ones during the policy term.
- Offers a return of 100% of premiums paid on maturity, making it a safe choice.
- Freedom to select policy duration and premium payment mode as per your needs.

How To Buy SBI Life Insurance Plans Online From Policybazaar?

You can buy term plan insurance online by following the steps:

Step 1: Visit Policybazaar and go to the ‘SBI Life Insurance’ plan
Step 2: Enter your name, gender, contact number, and date of birth
Step 3: Fill in your smoking habits, educational qualifications, occupation type, and annual income
Step 4: Select the most suitable SBI Policy and proceed to pay.
Step 5: Once the first premium is paid, SBILife Insurance will verify your policy form and will issue your policy.

Documents Required to Buy SBI Life Insurance Plans

Following is the list of required documents:

Age proof.
Identity proof.
Address proof.
Income proof.
Latest medical report.

The documents to prove age, identity, address, and income may be an aadhaar card, pan card, passport, driving license, rental agreement, birth certificate, matriculation certificate, income tax return, salary slip, etc.

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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FAQs

Q: What are the modes of premium payment available?

Ans. Various payment modes to pay insurance premiums are available. You can choose from yearly, half-yearly, monthly, quarterly, and single, one-time premium payments.
Q: Is it possible to calculate the premium payment & assured sum options in advance?

Ans. All the SBI Life Insurance policies have an illustration mode on their websites. You can calculate the payment options & the maturity term benefits in advance. This will help you understand the actual risk involved.
Q: What are the rates of return for SBI 1 Crore Life Insurance?

Ans. The assumed rate of return for SBI Life insurance is 4% - 8%. This percentage is received when the maturity term is reached.
Q: Are waivers applied to due premiums?

Ans. In the case of the SBI Life Smart plan, for all the premium payments after the sum assured is paid, waivers are done. You won't have to make future payments.

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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

Rs. 400/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. 400/month (Rs.13/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.

+Rs. 230 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. 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. 12/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. 497/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. 487/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. 626/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. 905/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. 1,267/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.

*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. 447/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.679/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. 910/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. 1,924month 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.

Women

+Rs. 400/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, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

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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