SBI Life · Savings · Money-Back
Smart Money Back Saver
A participating money-back plan for longer 20-25 year terms that pays five increasing survival instalments totalling 130% of the sum assured, plus bonuses, with premiums payable across the full term.
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
PurposeSavings — Traditional
CategoryMoney-Back
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 participating money-back plan for longer 20-25 year terms that pays five increasing survival instalments totalling 130% of the sum assured, plus bonuses, with premiums payable across the full term.
You might need this if…
- You might need this if you want more frequent, smaller money-back payouts (five instalments instead of four) spread across a longer 20-25 year horizon.
- You might need this if you're insuring a young child and want payouts timed to line up with schooling and early-adulthood milestones.
- You might need this if you want a participating plan with reversionary and terminal bonuses stacked on top of the guaranteed money-back schedule.
- You might need this if you want an optional accident rider you can size independently for accidental death vs. disability cover.
How it actually works
- Policy term runs 20-25 years, with premiums payable across the full term (regular pay only); minimum sum assured ₹3,00,000, minimum annual premium around ₹18,000.
- Survival benefits total 130% of sum assured, paid in five increasing instalments (roughly 10%, 15%, 25%, 35%, and a final 45% that doubles as the maturity payout) at defined intervals through the term.
- Maturity benefit is effectively the final (largest) survival instalment - 45% of sum assured - plus any vested reversionary and terminal bonus.
- Death benefit - the higher of (Sum Assured on Death + bonuses) or 105% of premiums paid - is payable in full regardless of survival benefits already received.
- You can elect to receive the maturity payout as instalments over 2-7 years instead of a lump sum, by notifying the insurer 3 months in advance.
- Optional Accident Benefit Rider lets you choose accidental death cover (up to ₹2 crore) and/or accidental partial permanent disability cover (up to ₹1.5 crore) separately.
Worked example
For a 1-year-old insured on a 20-year term with ₹5,00,000 sum assured (₹33,989/year premium, ₹6.8 lakh total paid), the brochure shows survival payouts of ₹50,000 at years 4, 8, 12, and 16, plus a final maturity payout illustrated at roughly ₹3,17,000 (4% assumed) to ₹5,70,000 (8% assumed), including the final ₹1,25,000 instalment.
The tiers
| Policy Year Milestone | Survival Benefit (% of Sum Assured) |
|---|
| Year 4/5 | 10% |
| Year 8/10 | 15% |
| Year 12/15 | 25% |
| Year 16/20 | 35% |
| Final year (maturity) | 45% |
Worth knowing before you decide
- Being participating, bonus rates (and hence the actual maturity value) are not guaranteed and depend on company performance.
- Guaranteed Surrender Value requires at least two consecutive years of premiums; the non-guaranteed Special Surrender Value is available after one year.
- Suicide within 12 months of start/revival caps the death payout to 80% of premiums paid or surrender value, whichever is higher.
- Entry age is capped lower than some sibling plans (maximum 45 years at entry), so it's less suited for older buyers.
Official source
⌟ Official product brochure
Learn about this category
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