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 child insurance savings planView source
Life describes Smart Scholar Plus as an individual unit-linked, non-participating life-insurance savings product for a child’s future.
- Source
- Life Smart Scholar Plus
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
Premium rangeMinimum premium: single pay ₹75,000; yearly ₹50,000; half-yearly ₹25,000; quarterly ₹15,000; monthly ₹5,500. Single-pay maximum is not capped on the page and remains subject to Board-approved underwriting.View source
The official premium table lists the five minimum instalments and states no single-pay maximum subject to Board-approved underwriting.
- Source
- Life Smart Scholar Plus
- Page / section
- Premium Range
- Accessed
- 29 Aug 2026
- Confidence
- high
Entry agesParent/
The official age table gives parent 18–50 and child 0–17 at entry, with child maturity age 18–25 and parent maximum maturity age 65.
- Source
- Life Smart Scholar Plus
- Page / section
- Who Can Buy — age at entry and maturity
- Accessed
- 29 Aug 2026
- Confidence
- high
Key coverageDeath benefit is the higher of Sum Assured or 105% of total premiums paid; future premiums are waived after death of the life assured and the fund value is paid at maturity. Accidental death adds the Accident Benefit Sum Assured; accidental total and permanent disability pays that amount in 10 yearly instalments. The plan also provides loyalty additions, 10 fund options and partial withdrawals from the 6th policy year.View source
The official page describes the death, premium-waiver, accident, loyalty-addition, fund-choice and sixth-year withdrawal benefits.
- Source
- Life Smart Scholar Plus
- Page / section
- Plan Benefits and Features
- Accessed
- 29 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 term8 to 25 years, subject to the child being at least 18 years old at maturity. Premium paying term: single pay once; limited pay 5 years to policy term minus 1 year; regular pay equal to the policy term.View source
The page publishes an 8–25 year policy term and the three premium-paying structures.
- Source
- Life Smart Scholar Plus
- Page / section
- Who Can Buy — policy term and premium paying term
- Accessed
- 29 Aug 2026
- Confidence
- high
Sum insured / coverLimited-pay or regular-pay: 10 × annualised premium. Single-pay: 1.25 × single premium. The policy schedule sets the issued rupee amount and underwriting limits apply.View source
The current official table states Limited Pay /Regular Pay: 10 x Annualized Premium and Single Pay: 1.25 x Single Premium.
- Source
- Life Smart Scholar Plus
- Page / section
- Who Can Buy — Sum Assured
- Accessed
- 29 Aug 2026
- Confidence
- high
Waiting periodNo separate general disease or claim waiting period is published in the reviewed page and policy booklet. The policy does publish a five-year ULIP lock-in, a 12-month suicide exclusion, and a 180-day persistence/
The full page and policy source set contains no standalone medical waiting-period clause; it separately states the five-year lock-in, 12-month suicide rule and 180-day accident timing.
- Source
- Life Smart Scholar Plus — reviewed official source set
- Page / section
- Customer Information Sheet pages 6–8; Part C clauses 3 and 37–38, pages 27 and 43
- Accessed
- 29 Aug 2026
- Confidence
- high
Key exclusionsSuicide within 12 months of commencement or revival pays only fund value; the Accident Benefit excludes infection except from an accidental external wound, alcohol/
The official page lists the suicide exclusion and the complete Accident Benefit exclusion list; the policy booklet reproduces the same terms in clauses 37–38.
- Source
- Life Smart Scholar Plus
- Page / section
- Exclusions
- Accessed
- 29 Aug 2026
- Confidence
- high
Grace period30 days from the premium due date for yearly, half-yearly and quarterly frequencies; 15 days for monthly frequency. Applies to regular- and limited-pay policies and the policy remains in force during the grace period.Effective 18 Jul 2025View source
The policy states 30 days for yearly, half-yearly and quarterly modes and 15 days for monthly mode.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Customer Information Sheet page 8; Part C clause 7, pages 8 and 29
- Accessed
- 29 Aug 2026
- Confidence
- high
Free-look period30 days from receipt of the policy document. Cancellation requires a written request, reasons for objection and no claim; the policy specifies the fund-value and charge-adjustment refund formula.Effective 18 Jul 2025View source
The policy provides 30 days from receipt and records the cancellation and refund conditions.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Welcome letter page 1; Part C IV clause 1, pages 45–46
- Accessed
- 29 Aug 2026
- Confidence
- high
Revival periodA discontinued policy may be revived within three consecutive complete years from the date of the first unpaid premium, subject to payment of dues, good-health declaration and SBI Life acceptance.Effective 18 Jul 2025View source
The and clause 11 both specify three consecutive complete years for revival.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Customer Information Sheet page 8; Part C clause 11, pages 8 and 32–33
- Accessed
- 29 Aug 2026
- Confidence
- high
Partial withdrawalsAvailable after commencement of the 6th policy year; maximum two in a policy year (one free), maximum five over a term up to 10 years or ten over a longer term. Each withdrawal is in ₹1,000 multiples, minimum ₹5,000, maximum 15% of fund value and cannot reduce fund value below 50% of total premiums paid.Effective 18 Jul 2025View source
Clause 8 lists the sixth-year start, annual and lifetime counts, rupee increments, minimum, percentage cap and 50% floor.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Part C clause 8, page 30
- Accessed
- 29 Aug 2026
- Confidence
- high
Fund switchingTwo switches each policy year are free; subsequent switches cost ₹100 per switch (capped at ₹500). There is no overall limit on the number of switches during the policy term; the minimum switch amount is ₹5,000 and switches use 1% fund-value multiples.Effective 18 Jul 2025View source
The policy states two free switches yearly, ₹100 thereafter, a ₹500 cap, no lifetime limit and ₹5,000/1% minimum rules.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Part C clauses 16 and 30, pages 33 and 40
- Accessed
- 29 Aug 2026
- Confidence
- high
Premium redirectionPremium redirection starts from the 2nd policy year. The first request in a policy year is free; later requests cost ₹100 each (capped at ₹500), with a 14-day lead time before the premium due date.Effective 18 Jul 2025View source
Clause 15 publishes the second-year start, one free request, ₹100 charge/cap and 14-day lead time.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Part C clause 15, pages 33 and 41
- Accessed
- 29 Aug 2026
- Confidence
- high
Claim documentsDeath claims require the policy document, valid death certificate, claimant KYC, claimant bank-account proof, claimant statement and prescribed claim forms; hospital/discharge records, post-mortem report, FIR and other supporting documents may be requested. Maturity claims require the policy document, KYC and may require a discharge form.Effective 18 Jul 2025View source
The claims section enumerates core death, disability and maturity documents and conditional supporting records.
- Source
- Life Smart Scholar Plus Policy Booklet
- Page / section
- Part C III clauses 1–3, pages 44–46
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsDeath benefit is the higher of Sum Assured or 105% of total premiums paid; future premiums are waived after death of the life assured and the fund value is paid at maturity. Accidental death adds the Accident Benefit Sum Assured; accidental total and permanent disability pays that amount in 10 yearly instalments. The plan also provides loyalty additions, 10 fund options and partial withdrawals from the 6th policy year.View source
The manually reviewed product record states: “Death benefit is the higher of Sum Assured or 105% of total premiums paid; future premiums are waived after death of the life assured and the fund value is paid at maturity. Accidental death adds the Accident Benefit Sum Assured; accidental total and permanent disability pays that amount in 10 yearly instalments. The plan also provides loyalty additions, 10 fund options and partial withdrawals from the 6th policy year.”.
- Source
- Life Smart Scholar Plus — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Benefits and features
- Child education corpus
- 10 market-linked funds
- Premium waiver on insured event
Eligibility
- Parent/
life assured must be at least 18 years - Child entry starts at 0 years
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- policy document
- death certificate
- claimant
- claimant bank-account proof
- claimant statement and claim forms
- hospital/discharge records where applicable
- post-mortem/ where applicable
- other documents requested by Life
- discharge form where required
Related official documents
SBI Life Smart Scholar Plus — official product pageofficial-product-page · current · accessed 29 Aug 2026
↗SBI Life Smart Scholar Plus Policy Booklet (UIN 111L144V01)official-policy-document · current · accessed 29 Aug 2026
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