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, unit-linked, non-participating life-insurance savings productView source
Life describes the plan as an individual unit-linked, non-participating life-insurance savings product.
- Source
- Life Smart Elite Plus
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
Minimum premiumLimited pay: ₹2.5 lakh yearly, ₹1.25 lakh half-yearly, ₹62,500 quarterly or ₹21,000 monthly. Single pay: ₹2.5 lakh. Values are in multiples of ₹100; maximum has no stated limit, subject to underwriting.View source
The live product table sets the minimums by payment frequency and says the maximum is subject to Life's underwriting policy.
- Source
- Life Smart Elite Plus
- Page / section
- Who Can Buy — premium amount
- Accessed
- 27 Aug 2026
- Confidence
- high
Entry and maturity ageEntry age: 18–55 years for limited pay, or 18–60 years for single pay. Maximum maturity age: 70 years (age last birthday).View source
The live eligibility table gives separate limited- and single-pay maximum entry ages and the maturity age ceiling.
- Source
- Life Smart Elite Plus
- Page / section
- Who Can Buy — age at entry and maturity
- Accessed
- 27 Aug 2026
- Confidence
- high
Policy and premium-payment termsLimited pay: 15–30-year policy term with a 7-, 10- or 12-year payment term. Single pay: 5–30-year policy term, paid once at inception.View source
The official matrix lists the limited-pay and single-pay term combinations.
- Source
- Life Smart Elite Plus
- Page / section
- Who Can Buy — premium payment term and corresponding policy term
- Accessed
- 27 Aug 2026
- Confidence
- high
Key coverage and featuresGold or Platinum cover options, in-built accidental benefit, nine fund choices, fund switching/redirection and partial withdrawals from the sixth policy yearView source
Life lists two cover options, an in-built accident benefit, fund choices and partial withdrawals from policy year six.
- Source
- Life Smart Elite Plus
- Page / section
- Features
- 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
Product codeUIN 111L146V01 | Product code 3SView source
The current Life page identifies the product as 111L146V01, product code 3S.
- Source
- Life Smart Elite Plus
- Page / section
- Know about Life Smart Elite Plus
- Accessed
- 27 Aug 2026
- Confidence
- high
Sum assuredLimited pay: 7× annualized premium. Single pay: 1.25× single premium.View source
The product matrix gives seven times annualized premium for limited pay and 1.25 times single premium for single pay.
- Source
- Life Smart Elite Plus
- Page / section
- Who Can Buy — sum assured
- Accessed
- 27 Aug 2026
- Confidence
- high
Maturity benefitFund value at maturity, provided the policy is in force.View source
The current page states that fund value on the date of maturity is paid for an in-force policy.
- Source
- Life Smart Elite Plus
- Page / section
- Plan Benefits — Maturity Benefit
- Accessed
- 27 Aug 2026
- Confidence
- high
Gold and Platinum death benefitsGold: highest of fund value, sum assured less partial withdrawals in the last 2 years, or 105% of total premiums paid. Platinum: higher of (fund value plus sum assured) or 105% of total premiums received. Both include an in-built accidental death/
Life's current page explicitly distinguishes the Gold and Platinum formulas and notes the in-built accidental benefit.
- Source
- Life Smart Elite Plus
- Page / section
- Plan Benefits — Death Benefit and In-built Benefit
- Accessed
- 27 Aug 2026
- Confidence
- high
Death-benefit settlement optionNominee, beneficiary or legal heir may take death benefit in instalments over 2–5 years, yearly, half-yearly, quarterly or monthly. Investment risk during settlement is borne by the beneficiary.View source
The product page gives the 2–5-year settlement interval, all four frequencies and the beneficiary investment-risk disclosure.
- Source
- Life Smart Elite Plus
- Page / section
- Plan Benefits — Settlement Option
- Accessed
- 27 Aug 2026
- Confidence
- high
ULIP lock-in and partial withdrawalsNo surrender or complete/
The current feature text and required disclosure specify the five-year restriction and sixth-policy-year availability.
- Source
- Life Smart Elite Plus
- Page / section
- Features — Partial Withdrawals; liquidity disclosure
- Accessed
- 27 Aug 2026
- Confidence
- high
Waiting period / accident claim timingNo separate general disease or life-cover waiting period is published. For the in-built Accident Benefit, accidental death must occur within 180 days of an accident during the policy term, and accidental total permanent disability must persist for at least 180 days to establish permanence (subject to the policy's physical-severance and other terms).View source
The policy provides 180-day accident-event and permanence conditions but does not publish a separate general medical waiting period.
- Source
- Life Smart Elite Plus — reviewed official source set
- Page / section
- Customer Information Sheet pages 6–7; Part C clause 2.2, pages 24–25; Exclusions clause 36, pages 36–37
- Accessed
- 29 Aug 2026
- Confidence
- high
Suicide and accidental-benefit exclusionsSuicide within 12 months of policy commencement or revival: the fund value at death intimation is paid and risk cover ceases; non-FMC charges recovered after death are added back. Accident Benefit is excluded for infection except qualifying external wounds, alcohol/
The and clause 36 enumerate the suicide provision and the accidental-death/ATPD exclusion categories.
- Source
- Life Smart Elite Plus Policy Document ( 111L146V01)
- Page / section
- Customer Information Sheet pages 6–7; Part C clauses 35–36, pages 36–37
- Accessed
- 29 Aug 2026
- Confidence
- high
Grace period30 days from the due date for yearly, half-yearly and quarterly premium frequencies, and 15 days for monthly frequency. The policy remains in force during grace and applicable charges continue to be deducted.View source
The policy publishes 30-day non-monthly and 15-day monthly grace periods and states that the policy stays in force during grace.
- Source
- Life Smart Elite Plus Policy Document ( 111L146V01)
- Page / section
- Customer Information Sheet page 6; Part C clause 4, page 25
- Accessed
- 29 Aug 2026
- Confidence
- high
Free-look period30 days from receipt of the policy document, subject to the policy's cancellation and refund formula.View source
The and policy definition provide a 30-day free-look period.
- Source
- Life Smart Elite Plus Policy Document ( 111L146V01)
- Page / section
- Customer Information Sheet page 6; Part C IV free-look clause
- Accessed
- 29 Aug 2026
- Confidence
- high
Revival periodA discontinued policy may be revived within three consecutive complete years from the first unpaid premium, subject to the policy's revival process and underwriting acceptance.View source
The states a three-year revival period and the policy sets out the revival requirements.
- Source
- Life Smart Elite Plus Policy Document ( 111L146V01)
- Page / section
- Customer Information Sheet page 7; Part C clause 9, pages 28–29
- Accessed
- 29 Aug 2026
- Confidence
- high
Accident benefit chargeThe in-built Accident Benefit charge is calculated monthly as Accident Benefit Sum Assured × (annual rate ÷ 12) ÷ 1,000. The annual rate is ₹0.60 per ₹1,000 of Accident Benefit Sum Assured; the charge stops after an Accident Benefit claim is accepted.View source
Clause 33 publishes the monthly formula and ₹0.60 annual rate per ₹1,000 Accident Benefit Sum Assured.
- Source
- Life Smart Elite Plus Policy Document ( 111L146V01)
- Page / section
- Part C clause 33, page 36
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsGold or Platinum cover options, in-built accidental benefit, nine fund choices, fund switching/redirection and partial withdrawals from the sixth policy yearView source
The manually reviewed product record states: “Gold or Platinum cover options, in-built accidental benefit, nine fund choices, fund switching/redirection and partial withdrawals from the sixth policy year”.
- Source
- Life Smart Elite Plus — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Benefits and features
- Gold or Platinum cover
- Nine fund choices
- Partial withdrawals from sixth policy year
Eligibility
- Entry age 18–55 years for limited pay or up to 60 years for single pay
Passing a listed condition does not mean the bank will approve an application.
Related official documents
SBI Life Smart Elite Plus — official product pageofficial-product-page · current · accessed 27 Aug 2026
↗SBI Life Smart Elite Plus — official product pageofficial-product-page · current · accessed 29 Aug 2026
↗SBI Life Smart Elite Plus Policy Document (UIN 111L146V01)official-policy-document · current · accessed 29 Aug 2026
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