SBI Life · Term · Pure Term
Saral Jeevan Bima
A standardized, no-frills term insurance plan (common across all Indian insurers) meant to make comparing basic life cover simple for first-time buyers.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeProtection
CategoryPure Term
InsurerSBI Life
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureNot applicable — non-linked
LiquidityNot available in the current product data
Lock-inNot available in the current product data
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A standardized, no-frills term insurance plan (common across all Indian insurers) meant to make comparing basic life cover simple for first-time buyers.
You might need this if…
- You might need this if you're buying term life insurance for the first time and want a simple, standardized product that's easy to compare across insurers.
- You might need this if your cover needs are modest (up to ₹25 lakh) rather than a large multi-crore policy.
- You might need this if you want a plan without add-on riders or complexity to worry about.
- You might need this if you're comfortable with a pure protection plan (no maturity payout) in exchange for lower premiums.
How it actually works
- Entry age 18 to up to 65-70 depending on channel; sum assured ranges from ₹5 lakh to ₹25 lakh, in multiples of ₹50,000.
- Policy term is 5 to 40 years (up to 60-65 depending on distribution channel); premiums can be paid yearly, half-yearly, monthly, or as a single lump sum.
- Death benefit (regular/limited pay) is the highest of 10× annualized premium, 105% of premiums paid, or the basic sum assured.
- There's a 45-day waiting period from policy start — only accidental deaths are covered during this window; other deaths get premiums refunded.
- No riders, no survival benefit, no maturity benefit, and no policy loan facility — it is intentionally a bare-bones product.
- A large sum assured discount of 5% (regular/limited pay) or 2% (single pay) applies for sums assured of ₹15 lakh or more.
Worked example
A healthy 35-year-old paying ₹11,480/year for ₹20,00,000 cover over 30 years: if death occurs in year 20, beneficiaries receive the full ₹20,00,000 (versus roughly ₹2,29,600 paid in premiums up to that point).
The tiers
| Age | 10-Year Term | 20-Year Term | 30-Year Term |
|---|
| 30 | ₹5,960 | ₹6,860 | ₹8,460 |
| 40 | ₹9,500 | ₹12,680 | ₹16,160 |
| 50 | ₹22,140 | ₹27,800 | N/A |
Worth knowing before you decide
- Suicide within 12 months voids the death benefit; only 80% (regular/limited) or 90% (single pay) of premiums paid is returned.
- No loan facility is available against this plan at all.
- Regular premium policies build no cancellation (surrender) value; limited premium policies only after 2 consecutive years of payment.
- Since it's a standardized product, feature flexibility is intentionally limited compared to SBI Life's other term plans.
Official source
⌟ Official product brochure
Learn about this category
Read the full term insurance explainer → · See all protection products →