Insurance

Life Smart Lifetime Saver

A savings plan with guaranteed survival income after the premium-paying term, optional cash bonuses from the seventh policy year and maturity at age 100.

Policy typeLong-term savings life-insurance plan with guaranteed survival income Entry and maturity ageEntry age: 30 days to 55 years; maximum maturity age: 100 years. Age is measured as age last birthday.Policy and premium-payment termPolicy term equals 100 minus age at entry. Choose a 10-, 12- or 15-year premium-payment term.

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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 typeLong-term savings life-insurance plan with guaranteed survival incomeView source

Life describes the plan as savings with life cover and guaranteed survival income extending toward age 100.

Source: Life Smart Lifetime Saver
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

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Entry and maturity ageEntry age: 30 days to 55 years; maximum maturity age: 100 years. Age is measured as age last birthday.View source

The official eligibility matrix states the entry window, age-at-maturity limit and age basis.

Source: Life Smart Lifetime Saver
Page / section: Who Can Buy
Accessed: 27 Aug 2026
Confidence: high

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Policy and premium-payment termPolicy term equals 100 minus age at entry. Choose a 10-, 12- or 15-year premium-payment term.View source

The plan matrix gives the age-linked policy term and all three limited premium-payment terms.

Source: Life Smart Lifetime Saver
Page / section: Who Can Buy
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Key benefitsGuaranteed survival income starts at the end of the premium payment term; non-guaranteed cash bonus, if declared, may be payable from the end of the seventh policy yearView source

The official page distinguishes guaranteed survival income from a cash bonus that is payable only if declared.

Source: Life Smart Lifetime Saver
Page / section: How the plan works
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

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UIN and product codeUIN 111N136V02; product code 2Z.View source

The current product page publishes 111N136V02 and product code 2Z.

Source: Life Smart Lifetime Saver
Page / section: Product overview
Accessed: 27 Aug 2026
Confidence: high

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Premium and payment frequencyMinimum annualised premium is ₹30,000, in multiples of ₹1,000; maximum is subject to board-approved underwriting. Yearly, half-yearly and monthly modes are available. Monthly is 8.50% and half-yearly 51.0% of annualised premium.View source

The official table specifies the floor, allowed modes, modal percentages and underwriting-led maximum.

Source: Life Smart Lifetime Saver
Page / section: Who Can Buy
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Minimum basic sum assuredMinimum basic sum assured is 10 times annualised premium.View source

The eligibility table states a 10× annualised-premium minimum BSA.

Source: Life Smart Lifetime Saver
Page / section: Who Can Buy
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Guaranteed and cash-bonus survival incomeGuaranteed survival income starts at the end of the premium-payment term, provided all due premiums are paid, and equals guaranteed income rate × basic sum assured. Cash bonus, if declared, starts at the end of policy year 7 and equals declared cash-bonus rate × basic sum assured.View source

The official benefit wording supplies start dates, premium condition and both calculation bases.

Source: Life Smart Lifetime Saver
Page / section: Plan Benefits — Survival Income
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Deferred survival-income optionGuaranteed and/or declared cash-bonus survival income can be deferred and accumulated. It is payable as a lump sum on request during the term or on death, surrender or maturity. The accumulation interest rate is RBI Repo Rate minus 100 basis points, fixed on 1 April of the financial year in which it becomes payable.View source

The product page gives the deferred-income payout triggers and the repo-linked interest formula.

Source: Life Smart Lifetime Saver
Page / section: Plan Benefits — Flexibility to Accumulate Survival Incomes
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Maturity benefitAt the end of the policy term, guaranteed sum assured on maturity plus terminal bonus, if declared, is paid as a lump sum, along with any deferred survival income. The policy then terminates.View source

The official maturity clause lists the payout components and termination after payment.

Source: Life Smart Lifetime Saver
Page / section: Plan Benefits — Maturity Benefit
Accessed: 27 Aug 2026
Confidence: high

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Death benefitThe nominee or legal heir receives the higher of: sum assured on death plus applicable survival income and declared interim cash/terminal bonuses; or 105% of total premiums paid. Any deferred survival income is added. Sum assured on death is death-benefit multiple × annualised premium.View source

The page sets out the higher-of calculation, 105% floor, recipient and treatment of deferred income.

Source: Life Smart Lifetime Saver
Page / section: Plan Benefits — Death Benefit
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Reduced-paid-up auto-cover periodAfter 2 but fewer than 5 full policy years' premiums, a missed subsequent premium gives a 1-year auto-cover period. After at least 5 full policy years' premiums, it gives a 2-year auto-cover period.View source

The product page publishes the exact one-year and two-year cover periods against premium-payment history.

Source: Life Smart Lifetime Saver
Page / section: Plan Benefits — Auto-Cover Period
Accessed: 27 Aug 2026
Confidence: high

Open official source ↗

Early surrenderThe policy can be surrendered after the first policy year if one full year's premium has been received. Guaranteed surrender value is acquired after at least 2 full policy years' premiums. Surrender value is the higher of guaranteed or special surrender value, plus applicable accumulated and interim survival income; the policy then terminates.View source

The gives the first-year surrender condition, two-year GSV condition and higher-of payout rule.

Source: Life Smart Lifetime Saver
Page / section: — early withdrawal/surrender
Accessed: 27 Aug 2026
Confidence: high

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Basic sum assuredMinimum Basic Sum Assured is 10 times the annualized premium. The annualized premium starts at ₹30,000, so the minimum BSA implied by the published rule is ₹3,00,000; higher amounts remain subject to the plan rules and underwriting.View source

The official matrix states: Minimum Basic Sum Assured (BSA) — 10 times Annualized Premium; annualized premium minimum ₹30,000 in multiples of ₹1,000.

Source: Life Smart Lifetime Saver — official product page
Page / section: Who Can Buy — Minimum Basic Sum Assured
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Suicide exclusionIf the Life Assured commits suicide during the policy term within 12 months from commencement of risk or revival, the death benefit is not paid. For an in-force base policy, SBI Life pays 80% of total premiums paid from commencement of risk, or the higher of 80% of total premiums paid and surrender value when the event follows revival; the policy then ceases.View source

Clauses 15.1–15.4 set out the 12-month suicide exclusion and the 80% premium / surrender-value payments.

Source: Life Smart Lifetime Saver Policy Document ( 111N136V02)
Page / section: Part C, clause 15, pages 29–30
Accessed: 29 Aug 2026
Confidence: high

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Premium grace period30 days from the premium due date for yearly and half-yearly frequency; 15 days for monthly frequency. The policy remains in force during the grace period, subject to the stated deduction at claim time.View source

Clause 7.1 specifies 30 days for yearly/half-yearly premiums and 15 days for monthly premiums.

Source: Life Smart Lifetime Saver Policy Document ( 111N136V02)
Page / section: Part C, clause 7, page 26
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Revival periodA lapsed base policy may be revived during five consecutive complete years from the first unpaid premium and before the policy-term expiry, subject to good-health, insurability and underwriting requirements.View source

Clause 10.1 gives a revival period of five consecutive complete years; clauses 10.3–10.5 add insurability and interest requirements.

Source: Life Smart Lifetime Saver Policy Document ( 111N136V02)
Page / section: Part C, clause 10, pages 27–28
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Free-look period30 days from receipt of the policy document to review and cancel the base policy if the terms are not acceptable, subject to the policy’s deductions and procedure.View source

The policy document grants a 30-day free-look period beginning on receipt of the policy document.

Source: Life Smart Lifetime Saver Policy Document ( 111N136V02)
Page / section: Part C, free-look clause, page 30
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Policy-loan interestThe policy’s current loan interest rate is 8.00% per annum, compounded half-yearly, based on the stated benchmark formula for financial year 2025–26; the rate may change under the policy rules.View source

The policy states the benchmark formula and that the applicable rate for 2025–26 is 8.00% compounded half-yearly.

Source: Life Smart Lifetime Saver Policy Document ( 111N136V02)
Page / section: Part C, clauses 12.6–12.7, page 28
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Guaranteed survival-income rate tableThe guaranteed survival income is the published rate multiplied by Basic Sum Assured; the rate depends on annualized-premium band, premium-payment term and policy-year band.View source

The brochure publishes three policy-year bands for each and four annualized-premium bands; the complete matrix is preserved in the linked source table.

Source: Life Smart Lifetime Saver V02 Brochure / Prospectus
Page / section: Pages 3–4, Benefits — Guaranteed Survival Income rate tables
Accessed: 29 Aug 2026
Confidence: high

Open official source ↗

Geographic limitsGuaranteed survival income starts at the end of the premium payment term; non-guaranteed cash bonus, if declared, may be payable from the end of the seventh policy yearView source

The manually reviewed product record states: “Guaranteed survival income starts at the end of the premium payment term; non-guaranteed cash bonus, if declared, may be payable from the end of the seventh policy year”.

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

Open official source ↗

Benefits and features

Guaranteed survival income
Life cover to age 100
Maturity benefit at age 100

Eligibility

Entry age 30 days to 55 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

Entry / maturity age · Published term30 days to 55 years at entry; maturity at age 100 (age last birthday)

This value is copied from Smart Lifetime Saver — eligibility, income and benefit conditions. Check the table notes before relying on it.

Source: Life Smart Lifetime Saver — official product page · Plan Benefits, Who Can Buy and Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 11 rows · 2 columnsSmart Lifetime Saver — eligibility, income and benefit conditionsPublished plan terms for SBI Life Smart Lifetime Saver (UIN 111N136V02).View tableHide table

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Smart Lifetime Saver — eligibility, income and benefit conditions
Item	Published term
Entry / maturity age	30 days to 55 years at entry; maturity at age 100 (age last birthday)
Policy and payment term	Policy term: 100 minus entry age; premium-payment term: 10, 12 or 15 years
Premium	Minimum annualised premium ₹30,000 in ₹1,000 multiples; yearly, half-yearly or monthly; half-yearly is 51.0% and monthly 8.50% of annualised premium
Basic sum assured	At least 10× annualised premium
Guaranteed survival income	From end of premium-payment term, subject to all due premiums; guaranteed income rate × basic sum assured
Cash bonus	Non-guaranteed; if declared, from end of policy year 7; declared cash-bonus rate × basic sum assured
Deferred-income interest	Repo Rate − 100 basis points, set on 1 April of the relevant financial year
Maturity	Guaranteed sum assured on maturity + terminal bonus if declared + any deferred income, paid as lump sum
Death benefit	Higher of the stated death-benefit formula or 105% of total premiums paid, plus deferred survival income if any
Auto-cover after missed premium	1 year after 2 to under 5 paid policy years; 2 years after at least 5 paid policy years
Surrender	After year 1 if one full year's premium was received; GSV after 2 full policy years; higher of GSV or SSV is paid

Maximum premium is subject to Life's board-approved underwriting policy.
Cash bonus and terminal bonus are non-guaranteed and only apply if declared.

Life Smart Lifetime Saver — official product page · Plan Benefits, Who Can Buy and · accessed 27 Aug 2026Open official source ↗

Table 2 · 12 rows · 5 columnsSmart Lifetime Saver — guaranteed survival-income ratesRate as a percentage of Basic Sum Assured. Policy-year bands are PPT through PPT+29, PPT+30 through PPT+59, and PPT+60 through the end of the policy term.View tableHide table

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Smart Lifetime Saver — guaranteed survival-income rates
Annualized premium band	Premium-payment term (years)	to +29	+30 to +59	+60 to end
₹30,000–₹49,000	10	2.25%	1.25%	1.00%
₹30,000–₹49,000	12	2.75%	1.75%	1.50%
₹30,000–₹49,000	15	3.50%	2.50%	2.25%
₹50,000–₹99,000	10	2.50%	1.50%	1.25%
₹50,000–₹99,000	12	3.00%	2.00%	1.75%
₹50,000–₹99,000	15	3.75%	2.75%	2.50%
₹1,00,000–₹1,99,000	10	2.75%	1.75%	1.50%
₹1,00,000–₹1,99,000	12	3.25%	2.25%	2.00%
₹1,00,000–₹1,99,000	15	4.00%	3.00%	2.75%
₹2,00,000 and above	10	3.00%	2.00%	1.75%
₹2,00,000 and above	12	3.50%	2.50%	2.25%
₹2,00,000 and above	15	4.25%	3.25%	3.00%

Guaranteed survival income = applicable rate × Basic Sum Assured.
The rate table is reproduced from the official V02 brochure, pages 3–4; non-guaranteed cash bonus is separate and payable only if declared.

Life Smart Lifetime Saver V02 Brochure / Prospectus · Pages 3–4, Benefits — Guaranteed Survival Income rate tables · accessed 29 Aug 2026Open official source ↗

Life Smart Lifetime Saver

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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