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SBI Life - Smart Power Insurance

Smart Shield


To have a secure future, which takes care of the financial needs of the family in case of any eventuality and to meet life’s various goals, it is important that one starts saving early and regularly.
We present to you, SBI Life - Smart Power Insurance, a non-participating unit linked insurance plan which takes care of your insurance as well as investment needs. The product comes to you at reasonable premium and is in tune with the current investment scenario. It is a flexible product, which also takes care of your liquidity needs. Additional protection requirement, due to changing personal and/or financial circumstances, is also taken care by the product.

Key Features:

  • Two Plan Options to choose from:
    • Level Cover Option - Sum Assured chosen at inception remains the same through out the policy term
    • Increasing Cover Option - The initial Sum Assured increases by 10%, without any additional underwriting, starting from 6th policy year and after every 5 years thereafter
  • Advantage of Advancing the Policy Benefit to become your Living Benefit, through our Inbuilt Accelerated Total & Permanent Disability (TPD) benefit
  • Two Fund options to choose from
    • Trigger Fund Option - Advantage of ’Buying Low and Selling High’
    • Smart Funds Option - Option to choose from 7 varied funds
  • Flexibility through 2 free switches in a policy year
  • Liquidity through Partial Withdrawal(s)

Plan at a Glance :

Age at Entry* Min: 18 years        Max: 45 years
Age at Maturity* 65 years
Policy Term 10 years, 15 to 30 years (both inclusive)
Premium Payment Term Same as policy term
Premium Amount (X 100)
  Min: Max:
Yearly Rs 15,000 No limit
Half-yearly Rs 9,500 No limit
Quarterly Rs 5,500 No limit
Monthly Rs 2,000 No limit
Premium Modes Yearly/Half-yearly/Quarterly/ Monthly
Sum Assured

Min: Higher of [(10 x AP) or (0.50 x Term x AP)]
Max: 20 x AP

Note: The Sum Assured can never go beyond Rs. 1 Crore at any point of time

* All the references to age are age as on last birthday.


  • Maturity Benefit: On completion of Policy Term, Fund Value will be paid.
  • Death Benefit: Higher of the Fund Value or Sum Assured# is payable; with a minimum of 105% of total basic premiums paid till the time of death
  • In-built Accelerated Total and Permanent Disability (TPD) Benefit: In case of TPD due to Accident or Sickness, 100% of the Death Benefit (as defined above) will be paid immediately and thereafter the policy would terminate.
  • Tax Benefits:

    • Tax deduction under Section 80 C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
    • Tax exemption under Section 10(10D) is available at the time of maturity/surrender, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy. However, death proceeds are completely exempt.
    • Tax benefits, are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

## Net of partial withdrawals

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

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