Smart Swadhan Supreme (ROP)

SBI Life Smart Swadhan Supreme is designed for individuals who want life cover but prefer to receive value back if they outlive the term. As a pure protection plan with savings elements, it provides a lump sum death benefit during the term and refunds 100 percent of premiums paid on survival until maturity. The sum assured on death is the highest of the basic sum assured, eleven times the annualised premium, or 105 percent of total premiums paid upto the date of death. This ensures meaningful protection for the nominee while keeping maturity benefits intact.

Eligibility criteria are broad, with entry age from 18 to 60 years and policy terms ranging from 10 to 30 years. Coverage lasts up to age 75 depending on the chosen term. Premium payment flexibility is available through regular and limited pay options, with modes including yearly, half-yearly, and monthly ECS. High sum assured rebates make it cost-efficient at larger covers.

Additional features include a loan facility of up to 50 percent of the surrender value once the policy acquires value, and optional accident benefit rider that enhances protection against accidental death or disability. Standard exclusions like suicide within 12 months apply, with refund of 80 percent of premiums or surrender value.