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SBI Life Swadhan

Entry Age (years)  
Minimum 18
Maximum 65
Maximum Maturity Age (years) 70
Policy Term (years)  
Minimum 5
Maximum 10
Sum Assured (Rs)  
Minimum 300000; and in multiples of 10000 thereof
Maximum 10000000
Premium Payment Frequency Yearly, Half-yearly, Quarterly
Premium Payment Term Equal to policy tenure
Policy Cover Cover remains fixed for the tenure of the policy
Other Features  
Free Look Cancellation In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period You are allowed to pay premiums within15 to 30 days(as required by insurance company) from due date of premium payment. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy Reinstatement You may reinstate your lapsed policy by paying due premiums and undergoing underwriting requirements, if any. SBI Life may float special schemes for reinstatement of lapsed policy at their own discretion.
Tax Benefits Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply.
Exclusions In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Surrender Value For Policy year 1/2/3 : Nil For Policy Year 4/5/6 : 60% of Basic Premium less 1st year basic premium. For Policy Year 7 and onwards: 65% of basic premium less 1st year basic premium
Customer Service  
Address SBI Life Insurance Corporate Office: Ground & 2nd floor, Turner Morrison Building, G.N Vaidya Marg, Fort, Mumabi - 400023 Registered Office: State Bank Bhavan, Madame Cama Road, Nariman Point Mumbai - 400 021
Mail To [email protected]
Call On 1800 22 9090