SBI Life unveils savings-cum-protection plan with assured benefits

SBI Life Insurance has launched ‘New Smart Samriddhi’, an individual, non-linked, non-participating life insurance savings plan designed to provide assured benefits along with disciplined, goal-based savings. According to SBI Life, the plan offers a simple and reliable way to accumulate wealth while ensuring financial protection for loved ones. It enables policyholders to plan their future with confidence, balancing growth and security.

Key benefits Guaranteed savings: Enables systematic savings to meet both short- and long-term financial goals. Reliable protection: Life cover ensures financial stability for the family in case of unforeseen events. Dual advantage: Combines savings and protection in a single plan, simplifying financial planning. Peace of mind: Guaranteed returns allow policyholders to plan confidently.

Key features Guaranteed additions: Accrue every year at a simple rate of 5.5per cent  or 6per cent  of cumulative premiums paid, based on the annualised premium. Assured maturity benefit: Offers 133per cent –214per cent  of the total annualised premiums, depending on the policyholder’s age, premium amount and chosen term. No medical examination: Hassle-free enrolment with minimal documentation.

Flexible terms: Options of 6-, 7-, or 10-year premium payment terms with policy durations of 12, 15, or 20 years respectively. Life cover throughout term: Financial protection available throughout the policy duration. Tax benefits: Available as per prevailing income tax laws. The company said the plan caters to diverse financial goals — from funding a child’s education to long-term wealth creation. Its guaranteed additions and maturity payouts offer clarity on future

funds, while the assured benefits provide a stable safety net independent of market fluctuations. Designed to encourage early and disciplined saving habits, SBI Life–New Smart Samriddhi reflects the insurer’s philosophy of empowering individuals to pursue their dreams while securing their family’s aspirations. The company said the plan offers a “future-ready savings solution” that helps individuals build wealth securely, systematically and confidently across all life stages.