Sbi Smart Platina Plus Calculator

You can choose between two income plan options based on your financial needs: Guaranteed Income and Life Income. With the Guaranteed Income option, you will receive a fixed regular income during the payout period you select. At the end of the policy term, you will also receive a maturity benefit equal to 110% of the total premiums paid. You have flexibility in choosing the frequency of your income benefits – yearly, half-yearly, quarterly or monthly. Additionally, there are various limited premium payment options available for 6, 7, 8 and 10 years. The tax benefits will be as per the prevailing norms under the Income Tax Act of India in effect at that time.

The tax benefits mentioned are in accordance with the Income Tax laws and may be modified periodically. It is advisable to seek guidance from a tax advisor for more information on this matter.


During the duration of the policy, SBI Smart Platina Plus Calculator provides life insurance coverage to ensure the financial security of your family.


Select the duration of receiving payments according to your personal objectives. You have the flexibility to modify the frequency of income payouts before the chosen payout period.


Offers a convenient and straightforward application process for effortless issuance.

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Consistent and assured income for an extended period of time.

Maturity Benefit (For In-force policies):

In case the policyholder survives till the end of the policy term, both Income Plan options offer a refund of 110% of the total premiums paid.

Survival Benefit (For In-force policies):

In the case of both Income Plan choices, a guaranteed income will be given to the policyholder during the payout period as long as they are alive. The amount of income received will depend on the chosen payout frequency.

Death Benefit (For In-force policies):

The payout amount in case of death for both income options is as mentioned below.

In the event of the life assured passing away during the policy term, a lump sum amount equal to the sum assured on death will be given to the nominee or legal heir. This payment concludes the policy.

The amount of coverage in case of death will be the greater of the two options mentioned.

The Basic Sum Assured for the SBI Smart Platina Plus Calculator is determined by either 11 times the annualized premium, or 105% of the total premiums paid up until the date of death. Alternatively, it can be calculated using the Annual Guaranteed Income multiplied by the Death Benefit Factor for Guaranteed Income, plus the Maturity Benefit multiplied by the Death Benefit Factor for Maturity Benefit.

The annualized premium refers to the amount of money that the policyholder needs to pay in a year for their insurance policy. This excludes any taxes, additional premiums due to underwriting, and any extra charges for choosing monthly or quarterly premium payment options.

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The total amount of premiums paid or received refers to the overall sum of all premiums received, excluding any additional premium charges and taxes.

The age mentioned in all instances refers to the age as of the last birthday.

In the case of a minor as the life assured, the policy will begin and the risk coverage will start on the same date. The parents or legal guardian can act as the policyholder/proposer for this type of policy, in accordance with our approved underwriting policy. Once the minor reaches 18 years of age, they will become the rightful owner of the policy.

Does SBI Smart Platina have tax exemption?

To ensure compliance with the latest income tax laws, it is recommended that taxpayers regularly review their eligibility for different deductions or exemptions. By doing so, they can maximize their savings while staying within legal boundaries.

How do I terminate my SBI smart Platina Plus policy?

To surrender your SBI Smart Platina Plus policy, you will need to follow a few simple steps. First, visit the nearest branch of SBI Life Insurance in your area. The staff at the branch will guide you through the process and provide you with the necessary forms.

The supporting documents typically include:

1. Original Policy Documents: You will need to submit the original policy documents along with your surrender request.

2. Canceled Cheque: Attach a canceled cheque that bears your name as it appears on the policy document.

What is the calculation method for SBI Smart Scholar?

Benefits of SBI Smart Scholar:

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– The sum assured in case of death will be the higher of the Basic Sum Assured or 105% of the total premiums received up to the date of death.

– It is important for the life assured to notify the insurance company about such incidents.