Insurance

Life Smart Swadhan Neo

A term plan with life cover, return of premium on survival and optional accident benefits.

Policy typeIndividual term insurance with return of premium on survival Key benefitsTerm life cover, return of premium on survival and optional Accident Benefit Rider InsurerSBI Life Insurance Company Limited

Official product page ↗Compare category

✓ 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 typeIndividual term insurance with return of premium on survivalView source

Life states that Smart Swadhan Neo returns premiums on completion of the policy term if the life assured survives.

Source: Life Smart Swadhan Neo
Page / section: Product overview
Accessed: 23 Aug 2026
Confidence: high

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Entry and maturity ageEntry age is 18–50 years for POSP/CPSC-SPV channels and 18–60 years for other channels. Maximum maturity (cover expiry) age is 65 years for POSP/CPSC-SPV and 75 years for other channels; age is measured at last birthday.View source

The official table publishes separate entry and maturity age limits for / and other distribution channels.

Source: Life Smart Swadhan Neo — official product page
Page / section: Who Can Buy — age at entry and maturity
Accessed: 28 Aug 2026
Confidence: high

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Sum assured₹5,00,000 minimum and ₹24,90,000 maximum. Sum assured must be in ₹50,000 multiples for POSP/CPSC-SPV channels and ₹10,000 multiples for other channels.View source

The current product matrix lists the ₹5 lakh minimum, ₹24.90 lakh maximum and channel-specific multiples.

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

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Policy term and payment optionsPolicy term is 15–30 years. Single premium, LPPT-7 and LPPT-10 are available for 15–30 years; LPPT-15 is available for 20–30 years; regular premium is available for 15–30 years. Payment frequency may be single, yearly, half-yearly or monthly.View source

The official table lists the overall 15–30-year term and the available payment-term combinations.

Source: Life Smart Swadhan Neo — official product page
Page / section: Who Can Buy — Policy Term / Premium Payment Term
Accessed: 28 Aug 2026
Confidence: high

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Key benefitsTerm life cover, return of premium on survival and optional Accident Benefit RiderView source

The official page lists return of premium and the optional accident rider.

Source: Life Smart Swadhan Neo
Page / section: Features and
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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Premium rangePublished premium ranges are: single ₹19,000–₹7,79,000; yearly ₹5,000–₹1,80,000; half-yearly ₹2,550–₹91,800; monthly ₹425–₹15,300. Half-yearly is 51% of annual premium and monthly is 8.50% of annual premium.View source

The official premium table gives minimum and maximum rupee amounts for all four payment frequencies and the modal loading percentages.

Source: Life Smart Swadhan Neo — official product page
Page / section: Who Can Buy — Premium matrix
Accessed: 28 Aug 2026
Confidence: high

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Waiting periodNo waiting period applies under the product.View source

The product page expressly states that there is no waiting period under the product.

Source: Life Smart Swadhan Neo — official product page
Page / section: Plan Benefits — death benefit
Accessed: 28 Aug 2026
Confidence: high

Open official source ↗

Suicide exclusionIf suicide occurs within 12 months from risk commencement or revival, the nominee/beneficiary receives at least 80% of total premiums paid (subject to the policy being in force and the page's stated conditions); the contract then terminates.View source

The official exclusion clause specifies the 12-month window and 80% minimum-premium payout treatment for suicide claims.

Source: Life Smart Swadhan Neo — official product page
Page / section: Exclusions — suicide
Accessed: 28 Aug 2026
Confidence: high

Open official source ↗

Geographic limitsTerm life cover, return of premium on survival and optional Accident Benefit RiderView source

The manually reviewed product record states: “Term life cover, return of premium on survival and optional Accident Benefit Rider”.

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

Open official source ↗

Benefits and features

Return of premium
₹5 lakh minimum cover
Optional accident rider

Eligibility

Entry age 18–60 years depending on channel

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

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Item

Entry age · Published term18–50 years for /; 18–60 years for other channels

This value is copied from Smart Swadhan Neo — eligibility and premium matrix. Check the table notes before relying on it.

Source: Life Smart Swadhan Neo — official product page · Who Can Buy; Plan Benefits; Exclusions 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 columnsSmart Swadhan Neo — eligibility and premium matrixCurrent SBI Life product-page terms. Premium and cover limits depend on distribution channel and selected payment mode.View tableHide table

Scroll sideways to view every column

Smart Swadhan Neo — eligibility and premium matrix
Item	Published term
Entry age	18–50 years for /; 18–60 years for other channels
Maximum maturity age	65 years for /; 75 years for other channels
Sum assured	₹5,00,000–₹24,90,000; multiples of ₹50,000 for / and ₹10,000 for other channels
Policy term	15–30 years; LPPT-15 option is 20–30 years
Premium range	Single ₹19,000–₹7,79,000; yearly ₹5,000–₹1,80,000; half-yearly ₹2,550–₹91,800; monthly ₹425–₹15,300
Premium frequencies	Single, yearly, half-yearly and monthly; half-yearly loading 51%; monthly loading 8.50% of annual premium
Waiting period	None
Suicide exclusion	Within 12 months of commencement or revival: at least 80% of total premiums paid, subject to the published conditions; policy terminates

Age is age last birthday on the proposal date.
The product returns 100% of total premiums paid at maturity for an in-force policy; death benefit is subject to the product formula.

Life Smart Swadhan Neo — official product page · Who Can Buy; Plan Benefits; Exclusions · accessed 28 Aug 2026Open official source ↗

Life Smart Swadhan Neo

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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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

Related products

SBI General Arogya Top-Up Policy

SBI General Bharat Griha Raksha

SBI General Car Insurance

SBI General Cyber VaultEdge

Life Smart Swadhan Neo