SBI Life Insurance Smart Money Back Insurance Plan



Smart Money Back Insurance is a savings plan with added advantage of life cover and cash inflow at regular intervals. It is participating traditional money back plan, meeting your various financial obligations at crucial junctures by its wide range of policy terms.

Key Features:

Money Back options specially tailored to suite your requirements
Fixed cash inflows which can meet your various financial obligations
Survival Benefit of 110% to 125% of Sum Assured paid till maturity
Large Sum Assured discount
Customize your coverage through the wide range of additional benefits – SBI Life – Accidental Death Benefit Rider (UIN:111B015V01), SBI Life – Accidental Total & Permanent Disability Rider (UIN:111B016V1), SBI Life – Preferred Term Rider (UIN: 111B014V01), and SBI Life – Criti Care 13 Non Linked Rider (UIN:111B025V01).
Given below are the charts with various term options and accompanying
Survival Payments:
Survival Benefit Installments (% of Basic Sum Assured)
Options Term / Year End
4 5 8 10 12 15 20 25 Total (% of Basic Sum Assured)
Option 1 12 20% 25% 65% + Vested Bonus 110%
Option 2 15 20% 25% 70% + Vested Bonus 115%
Option 3 20 10% 20% 30% 60% + Vested Bonus 120%
Option 4 25 10% 10% 15% 30% 60% + Vested Bonus 125%

Product Snapshot

Age^ at Entry
Plan Options Option 1 – Term
12 years
Option 2 –
15 years
Option 3 – Term
20 years
Option 4 – Term
25 years
Min. entry age 14 years 14 years 14 years 14 years
Max. entry age 58 years 55 years 50 years 45 years
Age^ at Maturity Min: 26 years Max: 70 years
Sum Assured Min: Rs.75,000/- ( x 1,000/-) Max: No Limit
Policy Term
Option 1 Option 2 Option 3 Option 4
12 years 15 years 20 years 25 years
Premium Paying Term Same as policy term
Premium Frequency Yearly / Half-yearly / Quarterly / Monthly#
Yearly – Rs.4,500
Half-yearly – Rs. 2,400
Quarterly – Rs.1,200
Monthly# – Rs.400
No limit
No limit
No limit
No limit
^ All the references to age are age as on last birthday.
# 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card]


On survival:
Before maturity: The survival benefit installments expressed as a fixed percentage of basic sum assured payable at the end of specified durations during the policy term, as explained above.
At maturity: Final survival benefit installment + Vested simple reversionary bonus + Terminal bonus, if any.
On Death:
Basic Sum Assured + Vested simple reversionary bonus + Terminal bonus, if any.

Tax Benefits:


Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
Tax deduction under Section 80 (D) is available for premiums paid towards Criti Care 13 Non Linked Rider.
Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy.
Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Rider Brochures:

SBI Life – Preferred Term Rider
SBI Life – Criti Care 13 Non – Linked Rider (UIN:111B025V01)
These are only the brief features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.



You may view or download the product brochure from here.

Also Read :   SBI Life Insurance Saral Life Plan

Subscribe Updates, Its FREE!

Email ID: