SBI Life Saral Swadhan Plus

SBI Life - Saral Swadhan+ is an Individual, non-linked, non-participating, term assurance product with return of premium. This product gives you a fixed life cover throughout the policy term along with a guaranteed maturity benefit, provided at least 3 annual premiums have been paid. This plan gives your money invested with profit upon maturity and also covers your life including illness during the policy term. It is a perfect combination of savings and protection to your life.

Key Features

  • Protection at affordable cost
  • Value for money
  • Easy enrollment through simplified proposal form


  • Maturity benefit
On survival of the life assured at the end of policy term, the policy holder gets the below benefit:
  • Policy Term of 10 years – 110% of total premiums paid
  • Policy Term of 15 years – 115% of total premiums paid
    • Death benefit
    In case of death of the life insured, the nominee would get the sum assured and policy would terminate.
    • Tax benefit
    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.

    Am I eligible?

    ENTRY AGE 18 55
    POLICY TERM 10 15
    SUM ASSURED 30,000 4,75,000

    What if?

    • I am unable to pay on time
    If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends. The policy can be reinstated within 2 years from the date of discontinuance after paying all the unpaid premiums.
    • I stop the payment
    If premium are paid up for less full three years, then it is converted to paid up Value and policy will cease.
    • I wish to take a loan
    Loan will not be available under this policy.


    • If the life assured, commits suicide, within a year of policy start 80% of the premiums paid, will be given to nominee. In case of suicide within one year from revival date, 80% of premiums paid or surrender value, whichever is higher would be paid and the policy will terminate.