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, participating life-insurance savings endowment planView source
Life describes Smart Bachat Plus as an individual non-linked participating savings product.
- Source
- Life Smart Bachat Plus
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
Minimum annualized premiumRegular pay: ₹12,000 yearly, ₹6,120 half-yearly or ₹1,020 monthly. Limited pay: ₹15,000 yearly, ₹7,650 half-yearly or ₹1,275 monthly. Maximum: no limit, subject to underwriting. The stated minimums exclude any underwriting loading.View source
The live table provides separate regular-pay and limited-pay minimums by yearly, half-yearly and monthly frequency.
- Source
- Life Smart Bachat Plus
- Page / section
- Who Can Buy — annualized premium and frequency
- Accessed
- 27 Aug 2026
- Confidence
- high
Entry and maturity ageLife option: entry from age 3. Life Plus: entry from age 18. Maximum entry age is 50, and maximum maturity age is 65 (age last birthday).View source
The official eligibility table gives distinct Life/Life Plus minimum entry ages and common maximum entry and maturity ages.
- Source
- Life Smart Bachat Plus
- Page / section
- Who Can Buy — age at entry and maximum age at maturity
- Accessed
- 27 Aug 2026
- Confidence
- high
Key coverageLife and Life Plus benefit options; Life Plus includes accidental death and accidental total permanent disability benefitsView source
The official key benefits list two options and built-in accidental benefits under Life Plus.
- Source
- Life Smart Bachat Plus
- Page / section
- Key Benefits
- 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 and premium-payment termRegular pay or 7-year limited pay: 15–30-year policy term. 10-year or 15-year limited pay: 20–30-year policy term.View source
Life's published matrix lists the permitted policy-term ranges by payment term.
- Source
- Life Smart Bachat Plus
- Page / section
- Who Can Buy — premium-payment term and corresponding policy term
- Accessed
- 27 Aug 2026
- Confidence
- high
Product codeUIN 111N170V01 | Product code 4AView source
Life's live page identifies the product as 111N170V01 and product code 4A.
- Source
- Life Smart Bachat Plus
- Page / section
- Know about Life Smart Bachat Plus
- Accessed
- 27 Aug 2026
- Confidence
- high
Sum assured₹2 lakh minimum; no stated maximum, subject to the board-approved underwriting policy.View source
The current product page publishes ₹2 lakh as the minimum sum assured and no maximum subject to underwriting.
- Source
- Life Smart Bachat Plus
- Page / section
- Who Can Buy — sum assured
- Accessed
- 27 Aug 2026
- Confidence
- high
Death and accidental-disability benefitLife: higher of (sum assured on death + vested reversionary bonuses + declared terminal bonus) or 105% of total premiums paid; sum assured on death is the higher of sum assured and 11× annualized premium. Life Plus adds one sum assured for accidental death; accidental total permanent disability pays one sum assured and waives future premiums.View source
The page explicitly states the higher-of death-benefit formula, Life Plus accidental benefit, and future-premium waiver after covered accidental total permanent disability.
- Source
- Life Smart Bachat Plus
- Page / section
- Plan Benefits — death benefit and accidental total permanent disability benefit
- Accessed
- 27 Aug 2026
- Confidence
- high
Maturity benefitSum assured on maturity (equal to the sum assured) plus vested reversionary bonuses and declared terminal bonus, provided the policy is in force at the end of the term.View source
The official page defines sum assured on maturity as the sum assured and adds vested reversionary and any declared terminal bonus.
- Source
- Life Smart Bachat Plus
- Page / section
- Plan Benefits — Maturity Benefit
- Accessed
- 27 Aug 2026
- Confidence
- high
Suicide and Life Plus accidental-benefit exclusionsSuicide within 12 months of risk commencement or revival: higher of 80% of total premiums paid or surrender value, if the policy is in force. Life Plus AD/
Life's current exclusions section gives the 12-month/80%-or-surrender-value suicide treatment and the listed Life Plus accidental exclusions.
- Source
- Life Smart Bachat Plus
- Page / section
- Exclusions — suicide provision and AD/ATPD exclusions
- Accessed
- 27 Aug 2026
- Confidence
- high
Waiting periodA 180-day waiting condition applies only to establishing permanence for the Accidental Total Permanent Disability benefit; it is not applicable where loss is caused by physical severance. The policy does not publish a separate general disease or life-cover waiting period.View source
The policy requires accidental total permanent disability to persist for at least 180 days to establish permanence, except for loss by physical severance; no separate general waiting period is stated.
- Source
- Life Smart Bachat Plus Policy Document ( 111N170V01)
- Page / section
- Part C clause 3.4.4, page 26; Customer Information Sheet, page 7
- Accessed
- 29 Aug 2026
- Confidence
- high
Grace period30 days from the premium due date for yearly and half-yearly frequency, and 15 days for monthly frequency. The policy remains in force during the grace period; thereafter it lapses or becomes reduced paid-up according to the premiums already paid.View source
The policy specifies 30-day yearly/half-yearly and 15-day monthly grace periods and keeps the policy in force during grace.
- Source
- Life Smart Bachat Plus Policy Document ( 111N170V01)
- Page / section
- Customer Information Sheet page 7; Part C clause 5, pages 25–26
- Accessed
- 29 Aug 2026
- Confidence
- high
Free-look period30 days from receipt of the policy document, subject to the policy's cancellation and refund terms.View source
The customer information sheet and policy define a 30-day free-look period from receipt of the policy document.
- Source
- Life Smart Bachat Plus Policy Document ( 111N170V01)
- Page / section
- Customer Information Sheet page 7; Part C IV clause 1
- Accessed
- 29 Aug 2026
- Confidence
- high
Revival periodA lapsed or reduced-paid-up policy may be revived for full benefits within five consecutive complete years from the first unpaid premium, subject to payment of overdue premiums with interest and the policy's revival requirements.View source
The policy publishes a five-year revival period from the first unpaid premium.
- Source
- Life Smart Bachat Plus Policy Document ( 111N170V01)
- Page / section
- Customer Information Sheet page 7; Part C clause 8, pages 28–29
- Accessed
- 29 Aug 2026
- Confidence
- high
Policy loanOnce the policy has acquired surrender value, a loan may be taken during the policy term up to 50% of the surrender value. For FY 2025–26, the policy states an 8.00% annual interest rate compounded half-yearly, based on the 10-year benchmark Government Security rate plus 150 basis points.View source
Clause 10 sets the 50% surrender-value ceiling and gives the benchmark formula and 2025–26 rate.
- Source
- Life Smart Bachat Plus Policy Document ( 111N170V01)
- Page / section
- Customer Information Sheet page 7; Part C clause 10, pages 28–29
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsLife and Life Plus benefit options; Life Plus includes accidental death and accidental total permanent disability benefitsView source
The manually reviewed product record states: “Life and Life Plus benefit options; Life Plus includes accidental death and accidental total permanent disability benefits”.
- Source
- Life Smart Bachat Plus — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Benefits and features
- Participating savings
- Regular or limited premium
- Built-in accidental benefits
Eligibility
- Minimum entry age 3 years
Passing a listed condition does not mean the bank will approve an application.
Related official documents
SBI Life Smart Bachat Plus — official product pageofficial-product-page · current · accessed 27 Aug 2026
↗SBI Life Smart Bachat Plus — official product pageofficial-product-page · current · accessed 29 Aug 2026
↗SBI Life Smart Bachat Plus Policy Document (UIN 111N170V01)official-policy-document · current · accessed 29 Aug 2026
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