SBI Life Insurance

SBI Life term insurance provides pure life cover at affordable premiums. The flagship plan is e-Shield Next, which offers a choice between whole-life cover and a limited term of 5 to 25 years. Entry age is 18 to 65.

For buyers who want the basic standardised cover, Saral Jeevan Beema is the IRDAI-mandated entry-level term plan with simple terms and uniform features across insurers. It is the easiest term plan to understand if you are buying life insurance for the first time.

ULIPs from SBI Life combine market-linked investment with life cover. Premium splits between insurance and equity/debt/balanced funds you choose. Smart Platina Plus is one of the flagship ULIPs (entry age 30 days to 60 years). eWealth Insurance is the online ULIP variant (entry 5 to 50 years).

These plans suit long-horizon investors (10+ years) who want tax-efficient wealth creation combined with life cover. Returns track the underlying fund performance, but the 5-year lock-in keeps you disciplined through market cycles.

Savings and wealth plans from SBI Life are designed for goal-based long-term saving. They combine life cover with disciplined savings, with maturity benefits payable if the policyholder survives the term.

These plans are useful for predictable, milestone-driven financial goals — a child's higher education, a planned home purchase, or accumulated retirement corpus. Returns are usually a mix of guaranteed amounts plus bonuses, depending on the variant chosen.

SBI Life retirement and pension plans like Retire Smart help build a retirement corpus during working years and pay annuity income post-retirement. Entry age is typically 30 to 60. For salaried Indians without an employer pension, this is one of the most important categories to plan early.

The earlier you start, the lower the monthly premium needed to reach a fixed post-retirement income target. Annuity options include lifetime annuity, joint-life annuity for spouse continuation, and return-of-purchase-price variants.

SBI Life child plans protect a child's financial future against the loss of an earning parent. The plan continues even if the parent dies during the term — premiums are waived and the maturity corpus funds the child's milestones.

For parents with young children, this category combines two of the most important financial decisions into one product: long-term savings for the child's goals, and the protection that ensures those goals are funded regardless of the parent's situation.