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SBI Life Smart Platina Assure - Top Online Insurance Plan for Your Family

Updated on November 29, 2023 , 31332 views

One of the most cost-effective ways of purchasing insurance today is through the internet. Experts say that is a better alternative to the offline mode of buying insurance policies. With online insurance, you do not have to worry about visiting the branch office often. You can choose your plan and get in touch with the management anytime from the comfort of your home. Another advantage of availing an insurance policy is that you can compare different insurance products and choose the best one available for you.

SBI Life Smart Platina Assure

SBI Life Smart Platina Assure is one of the best online insurance policies available for anyone looking to secure the family’s future.

SBI Life Smart Platina Assure

This is a non-linked, non-participating, life endowment assurance savings policy. The plan combines life cover with assured returns. You can be confident for the secure future of your family with this plan. Some of the key features and benefits of SBI Life Smart Platina Assure is mentioned below:

1. Guaranteed Additions

You can enjoy 5% to 5.50% guaranteed additions at the end of each policy year.

2. Payment

You have to just pay for 6 to 7 years and then you can enjoy the benefit throughout the policy term of 12 to 15 years with SBI Life Smart Platina Assure Plan.

3. Payment Mode

You can choose to pay on a monthly or yearly premium payment Basis. This can be opted for as per your convenience.

4. Maturity Benefit

You will avail a guaranteed sum assured on maturity plus accrued guaranteed additions.

5. Death Benefit

In case of death of the life assured, ‘Sum Assured on Death’ along with accrued guaranteed additions to the beneficiary. The sum assured on death is higher of 10 times the annualised premium or 105% of total premiums paid up to the date of death.

6. Tax Benefits

The tax benefits will be as per the income tax Laws that are subject to change from time to time.

7. Nomination

The nomination will be as per Section 39 of the Insurance Act, 1938 with SBI Life Smart Platina Assure Plan.

8. Assignment

The assignment will be as per Section 38 of the Insurance Act, 1938.

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9. Grace Period

You will be able to get a 30-days grace period from the premium due date for payment of yearly premiums. A 15-days period will be granted if you have opted for monthly premiums.

10. Cancelling Policy

With this plan, you will get a 15-30 days grace period where you can cancel the policy if you don’t agree with the terms and conditions. On cancellation, the premiums paid will be refunded after necessary deductions are made.

Eligibility Criteria

The eligibility criteria for the plan are mentioned below. Take a keen look at the basic sum assured and annualised premium.

Features Description
Entry Age Minimum: 18 Years, Maximum: 50 Years
Maximum Maturity Age 65 Years
Policy Term 12 and 15 Years
Premium Payment Term 6 Years for a policy term of 12 years and 7 years for a policy term of 15 years
Annualised Premium (In multiples of Rs. 1000) Minimum- Rs. 50,000
Basic Sum Assured Minimum- Rs. 3 lakhs, Maximum- No Limit (Subject to Board Approved Underwriting Policy) BSA= Maturity FactorPPTAnnualised Premium

SBI Life Insurance Customer Care

Call their toll-free number 1800 267 9090 between 9 am to 9 pm. You can also SMS ‘CELEBRATE’ to 56161 or mail them at


1. Can I get a loan on SBI Life Smart Platina Assure Policy?

A: Yes, you can get a loan up to 80% of the insurance value offered.

2. Can I stop my SBI Life Smart Platina Assure Policy?

A: Yes, you can surrender the policy after paying the first two premiums. During the surrender, you will be paid either the Special Surrender Value or the Guaranteed Surrender Value, whichever is higher.


If you are looking for reliability and security, SBI Life Smart Platina Assure is the one you should opt for. You don’t have to worry about paying the lengthy premium payments and can get help during the financial crisis.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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