Insurance

Life Group Pension Plus

A unit-linked, non-participating group pension savings product with fund switching, redirection and loyalty-unit additions.

Policy typeUnit-linked, non-participating group pension savings product UIN and product codeUIN 111L151V01; product code 4F Scheme useEmployer-employee and institutional group pension funds with loyalty-unit additions, online fund switches and contribution redirections

Official product page ↗Compare category

✓ Manually checked 23 Aug 2026 · active

SBI Life Group Pension Plus official banner

Offered byState Bank of India

India, subject to Life group-pension rules

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Policy typeUnit-linked, non-participating group pension savings productView source

The official page describes Group Pension Plus as a unit-linked, non-participating group pension savings product.

Source: Life Group Pension Plus
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

UIN and product codeUIN 111L151V01; product code 4FView source

The official page publishes 111L151V01 and product code 4F.

Source: Life Group Pension Plus
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Scheme useEmployer-employee and institutional group pension funds with loyalty-unit additions, online fund switches and contribution redirectionsView source

The official overview lists pension-fund management, loyalty units, fund switches and redirections.

Source: Life Group Pension Plus
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

InsurerSBI Life Insurance Company LimitedView source

Life's official catalogue lists these individual and group products under Life Insurance Company Limited.

Source: Life online plans and group insurance catalogue
Page / section: Life plan catalogue
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Entry age18 to 79 years (age at last birthday); maximum maturity age is 80 years.View source

The official eligibility table states entry age from 18 to 79 years, maximum maturity age 80 years, and age is measured on last birthday.

Source: Life Group Pension Plus
Page / section: Who Can Buy — Eligibility Criteria
Accessed: 28 Aug 2026
Confidence: high

Open official source ↗

Optional life coverOptional life cover of ₹10,000 per member, if selected by the master policyholder.View source

The official page states that members may opt for life cover with a sum assured of ₹10,000 per member.

Source: Life Group Pension Plus
Page / section: Who Can Buy and Plan Benefits — Insurance Benefit
Accessed: 28 Aug 2026
Confidence: high

Open official source ↗

Initial premium / contribution₹50,000 initial premium or contribution per scheme; no maximum is published. The trustee, employer or master policyholder must confirm the funding need under applicable accounting standards.View source

The official table publishes ₹50,000 per scheme as the initial premium/contribution and no maximum; it includes the accounting-standards confirmation requirement.

Source: Life Group Pension Plus
Page / section: Who Can Buy — Initial Premium / Contribution
Accessed: 28 Aug 2026
Confidence: high

Open official source ↗

Policy termOne-year renewable (OYR); the master policy renews annually on a continuing basis.View source

The official table states one-year renewable policy term and says the master policy continues on an annually renewable basis.

Source: Life Group Pension Plus
Page / section: Who Can Buy — Policy Term
Accessed: 28 Aug 2026
Confidence: high

Open official source ↗

Key exclusionsNot applicable under the Group Pension Plus KYP/CIS and policy wording; suicide exclusion is also not applicable.View source

The customer information sheet states “Exclusions: Not Applicable”; the master-policy wording also says the suicide exclusion is not applicable.

Source: Life Group Pension Plus customer information sheet
Page / section: Pages 2–3 — exclusions and policy conditions
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Free-look period30 days from receipt of the master policy document or certificate of insurance for non-compulsory schemes.View source

The policy wording gives a 30-day free-look period beginning on receipt of the master policy document or certificate of insurance for non-compulsory schemes.

Source: Life Group Pension Plus master policy document
Page / section: Free-look and cancellation provisions
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Surrender charge0.05% of fund value, capped at ₹5,00,000, before the third renewal; nil from the third renewal onward.View source

The brochure's charge table states 0.05% of fund value, capped at ₹5,00,000 before the third renewal and no charge after the third renewal.

Source: Life Group Pension Plus product brochure
Page / section: Pages 6–8 — surrender charge
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Fund-management charge1.00% p.a. for each fund, subject to the 1.35% p.a. regulatory cap.View source

The brochure charge table lists 1.00% p.a. for each fund and notes the 1.35% p.a. cap.

Source: Life Group Pension Plus product brochure
Page / section: Pages 6–8 — fund-management charge
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Mortality charge for optional cover₹1 per year per member for each ₹1,000 of optional sum assured.View source

The brochure lists a mortality charge of ₹1 per annum per member per ₹1,000 sum assured where cover is opted.

Source: Life Group Pension Plus product brochure
Page / section: Pages 6–8 — mortality charge
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Partial withdrawalNo partial withdrawals are permitted; surrender rules apply instead.View source

The KYP/policy conditions state that partial withdrawals are not applicable under this group pension product.

Source: Life Group Pension Plus master policy document
Page / section: KYP and policy conditions — withdrawals
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Geographic limitsEmployer-employee and institutional group pension funds with loyalty-unit additions, online fund switches and contribution redirectionsView source

The manually reviewed product record states: “Employer-employee and institutional group pension funds with loyalty-unit additions, online fund switches and contribution redirections”.

Source: Life Group Pension Plus — official product page
Page / section: Published product metadata
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Benefits and features

Group pension savings
Loyalty-unit additions
Unlimited online fund switches
Contribution redirections

Eligibility

For employer-employee and institutional group administrators

Passing a listed condition does not mean the bank will approve an application.

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Life-cover needs estimate

See whether your current cover and savings may leave a gap for your family. This does not calculate an insurance premium.

Yearly household income to replaceThe income your family may need to replace.₹ten lakh rupees₹1,00,000₹1,00,00,000Years of income neededHow long your family may need that replacement income. years1 years30 yearsLoans still to be paidHome loans and other debts the cover may need to clear.₹twenty lakh rupees₹0₹5,00,00,000Cover and savings already availableExisting life cover and money already set aside for the family.₹five lakh rupees₹0₹5,00,00,000

Possible cover gap₹1,15,00,000one crore fifteen lakh rupees

Income your family may need₹1,00,00,000one crore rupees

Cover and savings already counted₹5,00,000five lakh rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

TableParameterChoose column

Entry age · Minimum18 years

This value is copied from Eligibility and product limits. Check the table notes before relying on it.

Source: Life Group Pension Plus — official product page · Who Can Buy — Eligibility Criteria Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 5 rows · 3 columnsEligibility and product limitsView tableHide table

Scroll sideways to view every column

Eligibility and product limits
Parameter	Minimum	Maximum / rule
Entry age	18 years	79 years; maximum maturity age 80
Policy term	1 year	One-year renewable
Optional sum assured	₹10,000 per member	If life cover is opted
Initial premium / contribution	₹50,000 per scheme	No maximum published
Group size	10 members	No maximum for approved schemes

Age is as on last birthday.

Life Group Pension Plus — official product page · Who Can Buy — Eligibility Criteria · accessed 29 Aug 2026Open official source ↗

Table 2 · 3 rows · 5 columnsFund options and published asset rangesView tableHide table

Scroll sideways to view every column

Fund options and published asset ranges
Fund	Equity	Debt	Money market	Risk
Group Growth Pension Fund	35%–50%	10%–60%	0%–40%	Medium-high
Group Balanced Pension Fund	20%–30%	30%–75%	0%–40%	Medium
Group Bond Pension Fund	—	60%–100%	0%–40%	Low-medium

Life Group Pension Plus product brochure · Pages 4–5 — fund options · accessed 29 Aug 2026Open official source ↗

Table 3 · 10 rows · 3 columnsLoyalty additions by average fund valueView tableHide table

Scroll sideways to view every column

Loyalty additions by average fund value
Average fund value (₹ crore)	Allocation rate	Formula
Below 1	0.05%	Average fund value × allocation rate
1 to below 5	0.10%	Average fund value × allocation rate
5 to below 20	0.15%	Average fund value × allocation rate
20 to below 50	0.20%	Average fund value × allocation rate
50 to below 100	0.25%	Average fund value × allocation rate
100 to below 250	0.30%	Average fund value × allocation rate
250 to below 500	0.35%	Average fund value × allocation rate
500 to below 750	0.40%	Average fund value × allocation rate
750 to below 1,000	0.45%	Average fund value × allocation rate
1,000 and above	0.50%	Average fund value × allocation rate

Life Group Pension Plus product brochure · Page 6 — loyalty additions · accessed 29 Aug 2026Open official source ↗

Life Group Pension Plus

What the official sources publish

Benefits and features

Eligibility

Related official documents

Try the numbers

Life-cover needs estimate

Find the exact published value

Complete rates, limits and schedules

Related products

SBI General Arogya Top-Up Policy

SBI General Bharat Griha Raksha

SBI General Car Insurance

SBI General Cyber VaultEdge

SBI Life Group Pension Plus

What the official sources publish

Benefits and features

Eligibility

Related official documents

Try the numbers

Life-cover needs estimate

Find the exact published value

Complete rates, limits and schedules

Related products

SBI General Arogya Top-Up Policy

SBI General Bharat Griha Raksha

SBI General Car Insurance

SBI General Cyber VaultEdge

Life Group Pension Plus