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 typeTerm life-insurance savings plan with return of premiumView source
Life describes the plan as term protection with return of premium on survival.
- Source
- Life Saral Swadhan Supreme
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
Published premium range₹8,050–₹2,18,500 yearly; ₹4,106–₹1,11,435 half-yearly; ₹684–₹18,573 monthlyView source
The official table publishes minimum and maximum premium by frequency.
- Source
- Life Saral Swadhan Supreme
- Page / section
- Who Can Buy
- Accessed
- 23 Aug 2026
- Confidence
- high
Entry age18 to 50 years; maximum maturity age 65 yearsView source
The official table publishes entry and maturity ages.
- Source
- Life Saral Swadhan Supreme
- Page / section
- Who Can Buy
- Accessed
- 23 Aug 2026
- Confidence
- high
Basic sum assured₹25,00,000 to ₹50,00,000View source
The official table publishes basic sum assured in multiples of ₹50,000.
- Source
- Life Saral Swadhan Supreme
- Page / section
- Who Can Buy
- Accessed
- 23 Aug 2026
- Confidence
- high
Maturity benefit100% of total premiums paid in a lump sum on survival to the end of the policy termView source
The official maturity-benefit section states that 100% of total premiums paid is returned on survival.
- Source
- Life Saral Swadhan Supreme
- Page / section
- Maturity Benefit
- Accessed
- 23 Aug 2026
- Confidence
- high
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
Policy term and payment termPolicy term 15–30 years with LPPT-7/
The brochure publishes option-specific policy-term ranges for LPPT-7/10, LPPT-15 and regular premium payment.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Page 6 — Policy Term / Premium Payment Term
- Accessed
- 26 Aug 2026
- Confidence
- high
Free-look period30 days from receipt of the policy document, subject to the stated cancellation and refund conditionsView source
The brochure provides a 30-day free-look period beginning on receipt of the policy document.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Page 15 — Free look Period
- Accessed
- 26 Aug 2026
- Confidence
- high
Grace period30 days for yearly and half-yearly premiums; 15 days for monthly premiumsView source
The brochure specifies grace periods by premium frequency and explains lapse/paid-up treatment after the grace period.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Page 8 — Grace Period
- Accessed
- 26 Aug 2026
- Confidence
- high
Suicide claim provisionFor suicide within 12 months of commencement or revival, the nominee receives at least 80% of total premiums paid (or the applicable higher surrender value under the revival rule) and the contract terminates.View source
The brochure states the 12-month suicide provision and the minimum 80% premium-return treatment, subject to the policy being in force.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Pages 15–16 — Suicide Claim Provision
- Accessed
- 26 Aug 2026
- Confidence
- high
Waiting periodThe current V02 brochure does not publish a separate general waiting period. It does publish a suicide claim provision for death within 12 months from commencement of risk or from revival; the contract then pays at least the stated percentage or applicable surrender value and terminates.View source
The brochure specifies the 12-month suicide provision from commencement of risk or revival but does not state a separate general waiting-period number.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Pages 14–15 — free-look and suicide claim provision
- Accessed
- 29 Aug 2026
- Confidence
- high
Death benefitFor an in-force policy, Sum Assured on Death is the higher of Basic Sum Assured, 11 times Annualised Premium, or 105% of Total Premiums Paid up to the date of death.View source
The brochure's key-features section states that Sum Assured on Death is higher of Basic Sum Assured, 11 times Annualised Premium and 105% of Total Premiums Paid.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Pages 2–3 — death benefit and key features
- Accessed
- 29 Aug 2026
- Confidence
- high
Policy loanA policy loan may be available during the policy term after the policy acquires surrender value, up to 50% of surrender value. The interest rate is based on the 10-year benchmark G-Sec rate on 1 April plus 150 basis points, compounded half-yearly; the brochure gives 8.50% p.a. for FY 2024–25.View source
The brochure limits policy loans to 50% of surrender value and sets the interest basis at the 10-year benchmark G-Sec plus 150 basis points, compounded half-yearly.
- Source
- Life Saral Swadhan Supreme V02 brochure
- Page / section
- Pages 13–14 — policy loans
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limits100% of total premiums paid in a lump sum on survival to the end of the policy termView source
The manually reviewed product record states: “100% of total premiums paid in a lump sum on survival to the end of the policy term”.
- Source
- Life Saral Swadhan Supreme — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Benefits and features
- High sum assured
- Return of premium
- Optional accident rider
Eligibility
- Entry age 18–50 years
Passing a listed condition does not mean the bank will approve an application.
Related official documents
SBI Life Saral Swadhan Supreme V02 brochureproduct-brochure · current · accessed 26 Aug 2026
↗SBI Life Saral Swadhan Supreme V02 brochureofficial-product-brochure · current · accessed 29 Aug 2026
↗SBI Life Saral Swadhan Supreme — official product pageofficial-product-page · current · accessed 29 Aug 2026
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