Smart Swadhan Neo

SBI Life Smart Swadhan Neo is a term insurance plan with Return of Premium (ROP), designed for individuals who want strong life protection along with the assurance of getting back their premiums if they survive the policy term. It combines financial security with savings-oriented peace of mind.

This plan is ideal for people who hesitate to buy pure term insurance because there is no maturity benefit. Smart Swadhan Neo removes that concern by refunding all base premiums paid at maturity, while still providing full life cover throughout the policy term.

Many individuals want life protection but also prefer some return at the end of the policy. Smart Swadhan Neo is designed exactly for this mindset—offering reliable protection during the policy term and a premium refund if the policyholder survives till maturity.

• Life insurance protection with Return of Premium
• All base premiums refunded on maturity
• Flexible policy term and premium payment options
• Optional riders for additional protection
• Tax benefits as per prevailing income tax laws

Premiums for Smart Swadhan Neo are slightly higher than pure term plans because the plan includes a maturity benefit. However, it remains more affordable than traditional savings plans while offering high life cover.

If the policyholder dies during the policy term, the nominee receives ₹1 Crore as death benefit. If the policyholder survives till maturity, all base premiums paid during the term are refunded.

This ensures family protection during earning years and a lump-sum refund at maturity that can be used for retirement planning or major life goals.

If the policyholder survives the entire policy term, SBI Life Smart Swadhan Neo pays back 100% of the total base premiums paid (excluding taxes and rider premiums). This maturity amount can be used for retirement, investments, or personal goals.

• Individuals who want protection plus maturity benefit
• People uncomfortable with pure term insurance
• Family earners seeking disciplined long-term planning
• Risk-averse customers preferring guaranteed refunds

SBI Life Smart Swadhan Neo is an excellent choice for individuals who want the dual advantage of life protection and premium return. It protects your family during crucial earning years and rewards you with a maturity payout if you outlive the policy term.