SBI Life · Savings · Guaranteed Income
Smart Platina Supreme
A non-participating savings plan that pays a guaranteed income for a fixed payout period (15-30 years) after a short premium term, with an option to make that income increase each year.
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
CategoryGuaranteed Income
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 non-participating savings plan that pays a guaranteed income for a fixed payout period (15-30 years) after a short premium term, with an option to make that income increase each year.
You might need this if…
- You might need this if you want a fully guaranteed (non-participating) income stream for a defined stretch of years - e.g. to fund a child's education or bridge into retirement - rather than a bonus-dependent payout.
- You might need this if you'd rather pay premiums for a short window (7, 8, or 10 years) and then receive years of guaranteed income afterward.
- You might need this if inflation-proofing your future payouts matters - the increasing income option escalates payouts 5% a year.
- You might need this if you want meaningful life cover (roughly 11x annual premium or more) during the premium-paying years while also building the income benefit.
How it actually works
- Choose a 7, 8, or 10-year premium payment term, minimum annualized premium ₹50,000, minimum sum assured ₹5,50,000.
- Pick a Level or Increasing (5% p.a. simple) guaranteed income option; income is paid over a chosen payout period of 15, 20, 25, or 30 years.
- Guaranteed Income = Guaranteed Income Factor x Annualized Premium x payout-frequency modal factor; premiums above ₹1 lakh/year unlock materially higher income factors.
- Death benefit during the term is the highest of 11x annualized premium, a formula based on guaranteed income and 110% of premiums payable, or 105% of premiums paid to date.
- At the end of the payout period, a final lump sum of 110% of total premiums paid is added on top of the regular income payments already received.
- Optional Accident Benefit Rider (not available via POSP/CPSC-SPV channel) adds accidental death cover up to ₹2 crore or accidental disability cover up to ₹1.5 crore.
Worked example
The brochure illustrates a 35-year-old paying ₹2,00,000/year for 10 years (₹20 lakh total) on a 15-year policy term with a 25-year payout: level guaranteed income of about ₹2,73,022 a year for 25 years (₹90.26 lakh total), against a life cover of ₹22 lakh during the premium term. Choosing the increasing-income option instead starts lower (~₹1,90,256 in year 1) but grows to ~₹4,18,563 by year 25, totalling about ₹98.1 lakh.
The tiers
| Annualized Premium Band | 7-yr PPT Factor | 8-yr PPT Factor | 10-yr PPT Factor |
|---|
| ₹50K–<₹1L | Nil | Nil | Nil |
| ₹1L–<₹2L | 4.60% | 4.20% | 3.70% |
| ₹2L–<₹5L | 7.00% | 6.30% | 5.30% |
| ₹5L–<₹10L | 8.30% | 7.50% | 6.50% |
| ₹10L+ | 8.80% | 8.00% | 7.00% |
Worth knowing before you decide
- This is a non-participating plan - figures quoted are guaranteed once terms are fixed, but premiums below ₹1 lakh/year earn no percentage-based income boost from the table.
- The Accident Benefit rider cannot be added if the policy is bought through the POSP/CPSC-SPV channel.
- Surrender value is only available after the first full year's premium (SSV) or two years (GSV); exiting early forfeits most of the built-in guaranteed income value.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value, whichever is higher.
Official source
⌟ Official product brochure
Learn about this category
Read the full traditional life insurance explainer → · See all traditional savings products →