SBI Life Insurance 5 Years Plan-Features & Benefits you must know

SBI’s life insurance 5 years plan will be useful for those who want to get a short term life insurance plan.

 You will find many life insurance companies in the market but there are only a few insurance plans available in the list that pay a premium for 5 years. SBI’s plan is also included in this list.

SBI life insurance policy gives hope to keep you and your family safe.

In this article we will tell you about SBI Life Insurance 5 Years plan in simple language. Let’s start.

SBI Life Insurance 5 Years Plan Benefits

Below you have been told about the benefits of SBI Life Insurance 5 Years plan.

SBI Life Insurance 5 Years Plan
  • Policies like SBI’s Life Retire Smart make people’s lives secure after retirement.
  • SBI’s saving plans provide you with income and insurance coverage along with saving.
  • SBI also has plans like Gramin Bhima for those people whose income is less, this policy gives good insurance coverage even at less money.
  • Premium will have to be paid only for 5 years.You will have to pay the premium amount only for 5 years in all these SBI Life insurance policies.
  • You get a good insurance policy at an affordable premium.

Why you should buy an SBI Life Insurance 5 years plan

Many investment plans, life insurance, and term insurance plans have been launched in the market by SBI Life.

People buy a 5 year BHIMA plan for many reasons. But you have to choose the plan as per your requirement.

Why should you buy a SBI Life insurance 5 year plan?

  • You will find many policies in the market but SBI is a semi government company. That is why people trust it easily.
  • Since SBI is a semi-government company, there is no chance of losing your money or the company going bankrupt.
  • You will have to pay the premium for this SBI policy only for 5 years.
  • If the age of the policyholder is young then the facility to pay lower premium is given.
  • You can also get income tax benefits under the rules of the income tax department.

What are the various SBI Life Insurance plans for 5 years?

You will get a comprehensive range of plans in SBI such as Unit-Linked Savings, Term Insurance, retirement plans, child policy etc.

But today we will tell you only about selected plans.They are listed below.

  1. SBI Life Smart Wealth Builder
  2. SBI life Retire Smart
  3. SBI Smart Wealth Assure 
  4. SBI Life Shubh Nivesh
  5. SBI Life Grameen Bima
  6. SBI Life Smart Platina Assure 

SBI Life insurance not only protects you and your family but also proves helpful in wealth creation.

Let us tell you about 6 different plans of SBI one after the other.

1)SBI Life Smart Wealth Builder

This plan of SBI comes under investment plan. This plan benefits you in two ways because this plan also gives you the opportunity to invest with Jeevan Bhima.

If you want to get life insurance and also want to invest, then you can go with this plan.In this policy you get the facility to choose 7 different types of funds to invest.

In this plan, minimum entry age is 2 years and maximum is 55 years and maturity age is minimum 18 years and maximum 70 years.

2)SBI life Retire Smart

This plan comes under the pension plan of SBI. This plan gives you the facility of pension after retirement.

If you do not want to work, then retirement plans are very important for your future.

You can choose the right plan and premium amount based on your lifestyle and your needs.

You can secure your future with SBI Life Retire Smart plan and You can manage your financial condition after retirement.

3)SBI Smart Wealth Assure 

SBI Smart Wealth Assure Plan comes in their investment plan. In this plan you get two types of funds, one equity fund and the other bond fund.

The policyholder will also get tax benefit under Income Tax Act section 80C.

The minimum age limit of this fund is 8 years and maximum age limit is up to 65. The maximum maturity age of this policy is 75 and the policy term minimum ranges from 10 years to 30 years.

4)SBI Life Shubh Nivesh

SBI Life Shubh Nivesh plan also comes under the investment plan of SBI. You also get tax benefits in this policy.

You get 3 types of benefits in the SBI Shubh Nivesh plan. Along with insurance coverage, you get the benefit of saving and regular income.

You can extend your policy coverage under this plan for your entire life (up to the age of 100 years).

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5)SBI Life Grameen Bima

This plan comes under the term insurance plan of SBI. Term insurance plan is also a type of life insurance plan.

Under this term insurance plan, if the policy holder dies during the insurance policy term, then the nominee can get the death benefit of this policy.

This life insurance is specially made for rural people.Those who have low income can go with this insurance plan.

 Rural or low income people will be able to avail good coverage from this term plan.

6)SBI Life Smart Platina Assure 

 In this policy you will get to see a return of 5 to 5.5 every year. This amount is received by the family members of the policy holder after the policy maturity or if he dies.

You also get a loan against this policy. You can get 80 percent loan of your policy surrender amount as per the terms and conditions of some companies.

People also ask this

How can i know the maturity amount of my SBI Life Insurance?

Maturity amount is different for each policy, it depends on the policy and factors like premium amount, policy term etc.
You can calculate the maturity amount of your policy by going to SBI’s online tool called insurance maturity calculator.

How can I claim my Life Insurance maturity amount?

You can claim maturity amount both online or offline.
One month before your policy maturity, all Bhima companies send a policy discharge form to the home or office address given by you. In this letter, all the documents required for maturity claim and what has to be done are written.


In this article, we have told you about the features and benefits of SBI Life insurance 5 years Plan and briefly explained about 6 different types of policies of SBI.

If you have got even a little benefit from this article, then share it with your friends and relatives so that they also get to learn something.

If you have any kind of question in your mind, you can ask us through the comment box given below.

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