SBI Life · Term · Term + Return of Premium
Smart Swadhan Supreme
A term plan that returns 100% of all premiums paid if you outlive the policy term, combining life cover with a savings-style payout on survival.
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
CategoryTerm + Return of Premium
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 term plan that returns 100% of all premiums paid if you outlive the policy term, combining life cover with a savings-style payout on survival.
You might need this if…
- You might need this if pure term insurance feels like 'wasted money' to you if nothing happens, and you'd rather get your premiums back on survival.
- You might need this if you want meaningful cover (minimum ₹25 lakh) with the reassurance of a lump sum refund at the end.
- You might need this if you want the option to add accident-related riders on top of a return-of-premium structure.
- You might need this if you can commit to a fairly long-term policy (10-30 years) in exchange for the premium-back feature.
How it actually works
- Minimum sum assured is ₹25 lakh (no stated upper limit); entry age 18-60, policy terms 10-30 years, maximum maturity age 75.
- Premium payment options include Regular Pay (matches full term) or Limited Pay terms of 7, 10, or 15 years depending on the policy term chosen.
- Death benefit is the highest of the basic sum assured, 11× annualized premium, or 105% of total premiums paid.
- Maturity benefit returns 100% of total premiums paid as a lump sum if you survive to the end of the term.
- An optional Accident Benefit Rider offers Accidental Death cover (up to 3× base sum assured, max ₹2 crore) or Accidental Partial Permanent Disability cover (up to base sum assured, max ₹1.5 crore).
- A policy loan up to 50% of surrender value is available at around 8.50% p.a. (FY 2024-25 rate).
Worked example
Miss Sharma, age 30, buys ₹1 crore cover over 30 years: annual premium ₹22,284. Death in year 20 pays ₹1,00,00,000; surviving to maturity instead returns ₹6,68,520 (all premiums paid back).
Worth knowing before you decide
- The return-of-premium feature means premiums are meaningfully higher than a pure term plan with the same sum assured.
- Surrender value only becomes payable after one full year's premium is paid, and it's the higher of two formula-based values.
- Grace period is 30 days for yearly/half-yearly premiums but only 15 days for monthly — miss it and the policy lapses to paid-up status.
- Suicide within 12 months of start/revival caps the payout at 80% of premiums paid rather than the full death benefit.
Official source
⌟ Official product brochure
Learn about this category
Read the full term insurance explainer → · See all protection products →