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SBI 1 Crore Life Insurance
A life insurance policy that offers coverage of 1 crore will give your family the financial support they need. This sum could prove extremely helpful in repaying loans, household expenses and children's future to plan for. To match the income and financial responsibilities of a person, SBI Life brings the SBI term insurance 1 crore policy with very high cover options.
15 lakh Families Secured
₹13,50,000 Crore of Life Cover Assured
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The premium will be based on factors like your age, policy term, health and the lifestyle you live. Some covers also have rider options for enhanced protection with the base life cover.
Read on to know more about SBI Life Insurance 1 crore policy details.
What is SBI 1 Crore Life Insurance?
SBI 1 Crore insurance policy by SBI Life Insurance 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 1cr life insurance, 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 insurance plan with return for those who want maturity benefits.
Also read: Best SBI Life Insurance Plans
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 15%#
Compare 40+ plans from 15 Insurers
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SBI 1 Crore Life Insurance Plans
| Plan Name | Entry Age | Min. Sum Assured | |
| SBI Life Smart Shield Plus | 18-79 years | Rs. 25 Lakhs | Apply Now |
| SBI Life Smart Platina Plus | 30 days-60 years | Rs.50,000 | Apply Now |
| SBI Life Smart Swadhan Supreme | 18-60 years | Rs. 25 Lakhs | Apply Now |
Which SBI 1 Crore plan should you choose based on your needs?
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Want the lowest premium for pure protection? → Smart Shield Plus
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Want a guaranteed regular income for your family instead of a lump sum? → Smart Platina Plus
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Want your full premiums back if you outlive the policy term? → Smart Swadhan Supreme
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 In come 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 is the assured monthly payment which the policyholder will get during the designated period of payout. | Multiple ways to pay your premium, either through regular monthly pay or limited pay (in 7, 10, or 15 years). |
| Life cover is available up to 100 years (whole life) or 79 years for other options. | Maturity Benefit is an amount 110% higher than the total premium paid which will be returned at the termination of the policy. | 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
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SBI Life Smart Shield Plus is a comprehensive term insurance that ensures your family’s financial protection in the event of your untimely demise.
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You get three types of life insurance (Level Premium Policy, Increasing Term Insurance and Endowment Assurance) to go with your financial goals.
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This SBI 1 crore term insurance plan offers a Better Half Benefit that shields the future of your spouse as well as additional rider choices for wider protection.
SBI Life Smart Platina Plus:
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SBI Life Smart Platina Plus covers death while the policy term is alive and your family will have financial protection until that time.
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The life insurance offers regular income so that you can handle your financial goals on a long-term basis effectively.
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The combined benefit of maturity, survival and death makes this insurance plan safe and reliable.
SBI Life Smart Swadhan Supreme
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SBI Life Smart Swadhan Supreme is available to your loved ones during your policy term as they depend on you.
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Getting a full return of the policy amount you have paid at the end of the policy is one of the great features of this insurance policy.
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This SBI 1 crore insurance plan offers flexibility to fix policy tenure and mode of paying premiums as per your convenience.
How To Buy SBI Life Insurance Plans Online From Policybazaar?
You can buy term plan insurance online by following the steps:
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Step 1: Visit Policybazaar and go to the ‘SBI Life Insurance’ plan
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Step 2: Enter your name, gender, contact number, and date of birth
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Step 3: Fill in your smoking habits, educational qualifications, occupation type, and annual income
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Step 4: Select the most suitable SBI Policy and proceed to pay.
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Step 5: Once the first premium is paid, SBI Life Insurance will verify your policy form and will issue your policy.
Documents Required to Buy SBI Life Insurance Plans
The following is the list of required documents:
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Age proof.
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Identity proof.
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Address proof.
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Income proof.
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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.
Why Choose SBI Life Insurance?
SBI Life offers a wide coverage financial insurance cover for your family if you happen to die. State Bank of India gives the back-up, and the insurer has proved reliability through the ages with a network of its offices spread all over the country and providing a range of plans, term, life and pension, which are fully customizable, to your family security. Below are the SBI life term insurance 1 crore benefits:
High Claim Settlement Ratio: The individual death claim settlement ratio of a very high level of 98. 56% for FY26, so you get very high assurance that your family claim will be accepted during the time of greatest need.
Strong New Business Premium Growth: New Business Premium of SBI Life amounted to 425. 51 billion in FY26 and continued growing, reflecting a trust from customers that was increasing on a yearly basis.
Substantial Asset Under Management: FY26's figure of AUM by SBI Life was a staggering of 4,871. 63 billion is indicative of a, financially stable insurer.
Wide-reaching Network: A wide network of offices and partner branches operates across the length and breadth of the country so you'll never find us unreachable when you need services or claim support.
Broad distribution and Support Network: Customers can get proper advice from buying a policy up to claims from the large size of the support team and extensive network of agents, which are available for you at any time.
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
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Q: What are the modes of premium payment available?
Ans: Several modes of payment for the premium are offered. You can have yearly, half-yearly, monthly, quarterly and even single premium. -
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. Is a medical test mandatory to buy a ₹1 crore term plan?
Ans: Mostly yes, for covers like 1 crore sum assured, SBI Life generally wishes to undertake a medical checkup during underwriting. Based on your age, cover and declaration of health when taking out the policy, it varies. -
Q: What are the rates of return for SBI 1 Crore Life Insurance?
Ans: The assumed rate of return is 4% - 8%. This percentage is given when the maturity term is reached. -
Q. Is ₹1 crore term cover enough for me?
Ans: As an overall estimate, most of the financial planners recommend 15-20 times of your annual income as your cover. If you have any loans your the family expenses for the future every while estimating the cover amount. For the majority of salaried employees, 1 crore will suffice as a cover amount, and you can go for higher amounts assuming a higher sum assured. -
How much does 1 crore life insurance cost?
Ans: The premium for 1 crore life insurance depends first and foremost on the applicant's age, health, smoking status, policy term, and the type of plan selected. Young, non-smoking individuals with good health will pay a less expensive premium. -
Who is eligible for 1 crore term insurance?
Ans: Individuals who are aged between the minimum and maximum entry ages and have the Human Life Value of 1 crore are eligible for term insurance plans that offer a 1 Cr payout. The eligibility for a 1 cr term plan depends on the insurer’s specific eligibility conditions. -
What is SBI Life 1 lakh policy per year?
Ans: SBI Life 1 lakh policy per year means a plan by SBI Life Insurance where you have to pay a premium of Rs 1 lakh annually. -
Which policy is best in SBI Life?
Ans: There is no one perfect policy that is suitable for everyone. According to your needs for coverage and your financial capacity, there are different policies which might be the best for you. For example, Smart Platina Plus but is a pension plan or a product that can assist you during the later stage of the policy period. So, different products will suit people with different situations and financial positions.
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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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