Insurance

Life Smart Money Back Plus

A participating money-back plan with periodic survival payouts, 130% total benefit of sum assured plus bonuses and optional accident rider.

Policy typeParticipating money-back life-insurance savings plan Published premium floor₹20,000 yearly; ₹10,200 half-yearly; or ₹1,700 monthly Entry age30 days to 50 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 typeParticipating money-back life-insurance savings planView source

Life describes Smart Money Back Plus as a participating money-back policy.

Source: Life Smart Money Back Plus
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

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Published premium floor₹20,000 yearly; ₹10,200 half-yearly; or ₹1,700 monthlyView source

The official eligibility table publishes minimum premiums by frequency.

Source: Life Smart Money Back Plus
Page / section: Who Can Buy
Accessed: 23 Aug 2026
Confidence: high

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Entry age30 days to 50 yearsView source

The official eligibility table lists entry age from 30 days to 50 years.

Source: Life Smart Money Back Plus
Page / section: Who Can Buy
Accessed: 23 Aug 2026
Confidence: high

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Policy term20–25 years; premium payment terms 7, 10 or 12 yearsView source

The official plan table publishes policy-term and premium-payment-term choices.

Source: Life Smart Money Back Plus
Page / section: Who Can Buy
Accessed: 23 Aug 2026
Confidence: high

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Key benefitsSurvival benefits of 15%, 20%, 25% and 30% of sum assured, maturity benefit of 40% plus bonuses, and optional accident riderView source

The official features state total survival benefits of 90%, maturity of 40% and participation in bonuses.

Source: Life Smart Money Back Plus
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 assured₹2,00,000 minimum sum assured; there is no stated maximum, subject to SBI Life's Board-approved underwriting policy.View source

The current eligibility table lists a ₹2,00,000 minimum sum assured and no maximum subject to Board-approved underwriting.

Source: Life Smart Money Back Plus — official product page
Page / section: Who Can Buy — Sum Assured
Accessed: 28 Aug 2026
Confidence: high

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Key exclusionsSuicide within 12 months from commencement of risk or revival: death benefit is not payable; the claimant receives the higher of 80% of total premiums paid or surrender value, provided the policy is in forceView source

The policy document states the 12-month suicide exclusion and higher-of 80% premium/surrender-value payment rule.

Source: Life Smart Money Back Plus Policy Document
Page / section: Part C (II) clause 7, page 8; clause 14
Accessed: 29 Aug 2026
Confidence: high

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Geographic limitsSurvival benefits of 15%, 20%, 25% and 30% of sum assured, maturity benefit of 40% plus bonuses, and optional accident riderView source

The manually reviewed product record states: “Survival benefits of 15%, 20%, 25% and 30% of sum assured, maturity benefit of 40% plus bonuses, and optional accident rider”.

Source: Life Smart Money Back Plus — official product page
Page / section: Published product metadata
Accessed: 23 Aug 2026
Confidence: high

Open official source ↗

Benefits and features

Periodic cash payouts
130% total benefit before bonuses
Optional accident rider

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.

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Parameter

Product type · Published detailParticipating money-back life-insurance savings plan.

This value is copied from Life Smart Money Back Plus — published terms. Check the table notes before relying on it.

Source: Smart Money Back Plus — Life Insurance · Product overview; Who Can Buy; Features; linked V01 policy document Part C Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 8 rows · 2 columnsSBI Life Smart Money Back Plus — published termsPremium, age, term, sum assured and benefit schedule from SBI Life's product page and policy document.View tableHide table

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SBI Life Smart Money Back Plus — published terms
Parameter	Published detail
Product type	Participating money-back life-insurance savings plan.
Entry age	30 days–50 years.
Premium / term	₹20,000 yearly; ₹10,200 half-yearly; or ₹1,700 monthly. Policy term 20–25 years; premium-payment term 7, 10 or 12 years.
Sum assured	Minimum ₹2,00,000; no stated maximum, subject to Life's board-approved underwriting policy.
Survival / maturity benefit	Survival benefits of 15%, 20%, 25% and 30% of sum assured; maturity benefit of 40% plus bonuses; optional accident rider.
Provider	Life Insurance Company Limited.
Suicide condition	Suicide within 12 months of commencement or revival: death benefit is not payable; claimant receives the higher of 80% of total premiums paid or surrender value, provided the policy is in force.
General waiting period	No separate general waiting period is published on the reviewed product page or policy document.

Smart Money Back Plus — Life Insurance · Product overview; Who Can Buy; Features; linked V01 policy document Part C · accessed 31 Aug 2026Open official source ↗

Life Smart Money Back Plus

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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