Retire Smart Plus

SBI Life Insurance

Claim settlement ratio – 93.09% (FY 2020-21)

Critical Illness Benefit Available

Tax Benefit Amount As per prevailing tax laws

Accidental Death Benefit 100%

Get all your insurance related queries answered for FREE

Paybima's Right Advisor = Expert Solutions

Overview of SBI Life - Retire Smart Plus

SBI Life - Retire Smart Plus is a plan that you can buy to ensure continuous financial stability even after you retire. Invest in this plan today to live life the way you want in your old age when you don’t have a regular flow of money coming in. Enjoy continuous financial independence with Retire Smart Plus as it helps you to accumulate enough corpus required to live a comfortable life in your second innings.

USP features of SBI Life Retire Smart Plus

  • This is a market linked return plan that helps to create a corpus for retirement to the insured by offering a choice of 7 varied fund options
  • The plan allows flexibility to cater to your changing needs
  • Extra offers like loyalty additions and terminal additions are other elements to boost fund value under this plan
  • The plan also allows the insured to access funds by means of partial withdrawals if there is a financial emergency. However, you have to complete the lock-in period before you could withdraw
  • You can get the option to pay premium as – single pay, regular pay or pay for a limited period among the various options of premium payment

What’s not covered under SBI Life Retire Smart Plus?

  • If the life assured dies within 12 months of buying the policy or revival of the policy by committing suicide, the nominee of the policyholder will receive the fund value that is available on the date of intimation of death to the insurer
  • Also, if there are any charges other than Fund Management charges that are recovered following the death of the insured, it will also be added back to the fund value
Frequently asked questions

The key benefit of the plan is that it guarantees the return of premiums paid by the policyholder on maturity. Also, it protects the retirement fund from any kind of market volatility

The best benefit is that all the premiums paid under the plan and the claims received at maturity are eligible for tax deductions under different sections of the Income Tax Act.

The plan allows 7 different fund options to choose from.

The plan doesn’t allow the insured to appoint any ‘Assignee’.

* Tax benefits are subject to changes in tax laws.
#All savings are provided by the insurance company as per the IRDAI approved insurance plan. Standard T&C apply.

SBI Life Insurance - Other Plan Variants

Smart Platina Plus
e-Shield Next