Insurance

Life New Smart Samriddhi

A non-linked, non-participating savings plan with 5.5% or 6.0% simple guaranteed additions and limited premium payment terms.

Policy typeIndividual, non-linked, non-participating life-insurance savings product Annualised premium₹12,000 to ₹75,000 per life Entry age30 days to 50 years; maximum maturity age 65 years

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✓ Manually checked 23 Aug 2026 · active

Offered byState Bank of India

India, subject to Life underwriting and policy terms

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 typeIndividual, non-linked, non-participating life-insurance savings productView source

Life describes New Smart Samriddhi as an individual non-linked, non-participating savings product with guaranteed benefits.

Source: Life New Smart Samriddhi
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Annualised premium₹12,000 to ₹75,000 per lifeView source

The official eligibility table publishes annualised premium limits.

Source: Life New Smart Samriddhi
Page / section: Who Can Buy
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Entry age30 days to 50 years; maximum maturity age 65 yearsView source

The official table publishes entry and maximum maturity ages.

Source: Life New Smart Samriddhi
Page / section: Who Can Buy
Accessed: 23 Aug 2026
Confidence: high

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Policy and premium termsPolicy term 12, 15 or 20 years; premium payment term 6, 7 or 10 years respectivelyView source

The official table maps limited premium terms to policy terms.

Source: Life New Smart Samriddhi
Page / section: Who Can Buy
Accessed: 23 Aug 2026
Confidence: high

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Guaranteed additions5.5% simple rate for annualised premium below ₹30,000 and 6.0% simple rate at or above ₹30,000, with life cover throughout the policy termView source

Life publishes two simple guaranteed-addition rates based on annualised premium.

Source: Life New Smart Samriddhi
Page / section: Features
Accessed: 23 Aug 2026
Confidence: high

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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

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Sum insured / coverBasic Sum Assured: ₹58,000 minimum (based on minimum annualized premium) to ₹9,11,000 maximum (based on maximum annualized premium); a ₹25,00,000 per-life cap applies to policies sold through POSPs and CPSC-SPV.View source

The official table publishes a minimum Basic Sum Assured of ₹58,000 and maximum of ₹9,11,000 based on the annualized premium, with the separate / cap noted below the table.

Source: Life New Smart Samriddhi — official product page
Page / section: Who Can Buy? — Basic Sum Assured
Accessed: 29 Aug 2026
Confidence: high

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Key exclusionsSuicide exclusion: if the life assured dies by suicide within 12 months from commencement of risk or revival, the death benefit is not paid; while the policy is in force, the claimant receives the higher of 80% of premiums paid or the surrender value available on the date of death.View source

The states the 12-month suicide exclusion from risk commencement or revival and the higher-of-80%-of-premiums-paid or surrender-value treatment.

Source: Life New Smart Samriddhi — Customer Information Sheet V05
Page / section: Page 2 — Exclusions (Part C Clause II (11))
Accessed: 29 Aug 2026
Confidence: high

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Waiting periodNo general illness waiting period is stated in the official product page, brochure or CIS. The 12-month suicide clause is an exclusion period, not a medical waiting period.View source

The complete lists policy benefits, suicide exclusion, grace period and free-look period but no general medical waiting-period clause; the 12-month rule is explicitly presented under Exclusions.

Source: Life New Smart Samriddhi — Customer Information Sheet V05
Page / section: Pages 1–2 — complete review; Exclusions
Accessed: 29 Aug 2026
Confidence: high

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Geographic limits5.5% simple rate for annualised premium below ₹30,000 and 6.0% simple rate at or above ₹30,000, with life cover throughout the policy termView source

The manually reviewed product record states: “5.5% simple rate for annualised premium below ₹30,000 and 6.0% simple rate at or above ₹30,000, with life cover throughout the policy term”.

Source: Life New Smart Samriddhi — official product page
Page / section: Published product metadata
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Benefits and features

Guaranteed additions
Limited premium payment
Life cover

Eligibility

Entry age 30 days to 50 years

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

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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.

TableItem

Age at entry · Published valueMinimum 30 days; maximum 50 years

This value is copied from Life New Smart Samriddhi — eligibility and premium structure. Check the table notes before relying on it.

Source: Life New Smart Samriddhi — official product page · Who Can Buy? — eligibility, premium and Basic Sum Assured table Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 7 rows · 2 columnsSBI Life New Smart Samriddhi — eligibility and premium structureEligibility and payment options transcribed from the issuer’s official table.View tableHide table

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SBI Life New Smart Samriddhi — eligibility and premium structure
Item	Published value
Age at entry	Minimum 30 days; maximum 50 years
Maximum age at maturity	65 years
Policy term	12, 15 or 20 years
Premium payment term	6 years for 12-year term; 7 years for 15-year term; 10 years for 20-year term
Premium frequency	Yearly or monthly; monthly mode is 8.50% of annualized premium
Annualized premium	₹12,000 minimum per policy; ₹75,000 maximum per life, subject to board-approved underwriting
Basic Sum Assured	₹58,000 minimum to ₹9,11,000 maximum; underwriting and / cap conditions apply

All ages are as on last birthday. If the life assured is a minor, the policy term must leave the life assured at least 18 years old at maturity.

Life New Smart Samriddhi — official product page · Who Can Buy? — eligibility, premium and Basic Sum Assured table · accessed 29 Aug 2026Open official source ↗

Table 2 · 6 rows · 2 columnsSBI Life New Smart Samriddhi — guaranteed additionsGuaranteed-addition rates and death-benefit floor published in the current product materials.View tableHide table

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SBI Life New Smart Samriddhi — guaranteed additions
Item	Published value
Guaranteed addition rate	5.5% simple rate when annualized premium is below ₹30,000; 6.0% simple rate when annualized premium is ₹30,000 or more
Maturity benefit	Basic Sum Assured plus accrued Guaranteed Additions
Death benefit	Sum Assured on Death plus accrued Guaranteed Additions; Sum Assured on Death is the highest of Basic Sum Assured, 10× annualized premium or 105% of total premiums paid
Policy loan	Up to 90% of the acquired surrender value, during the policy term
Grace period	30 days for yearly premium mode; 15 days for monthly mode
Free-look period	30 days

The policy document and issued schedule control the final benefit calculation and exclusions.

Life New Smart Samriddhi — Product Brochure V05 · Pages 2, 8–13 — guaranteed additions, benefits, loan, grace and surrender conditions · accessed 29 Aug 2026Open official source ↗

Life New Smart Samriddhi

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

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