SBI Life: Smart Money Back Gold Policy Review

By | October 30, 2016

SBI Life – Smart Money Back Gold is a savings policy with the facility of cash inflow at standard intervals and life cover. It is basically a contributing traditional money back insurance policy which meets your several pecuniary obligations at vital occasions through its extensive assortment of policy terms. In this, the regular payments of survival benefits are made at diverse intervals during the term of policy. In the case of an unfortunate death any time during the tenure of policy term your nominee will get the whole sum assured, simple reversionary bonus as well as terminal bonus irrespective of survival benefits previously compensated.

Read Also: SBI Life Insurance Complete Details



  • Provide permanent cash inflows which can meet up your diverse monetary obligations.
  • Have money back alternatives which specially are customized as per your requirements.
  • Survival benefit over 110% of Sum Assured remunerated till maturity.
  • Refunds on Large Sum Assured
  • Additionally, customize your coverage by the extensive range of additional rider benefits such as: SBI Life- Accidental Total and Permanent Disability Benefit Rider, SBI Life- Criti Care 13 Non-Linked Rider, SBI Life- Accidental Death Benefit Rider and SBI Life- Preferred Term Rider.

Various benefits of SBI Life- Smart Money Back Gold

The various advantages of SBI Life- Smart Money Back Gold are as following:

  • On Survival:
  • Prior to Maturity: The survival benefits payments expressed as a set percentage of Basic Sum Assured owed at the end of specific intervals during the tenure of policy.
  • At Maturity: Final survival benefits installment along with Vested Simple Reversionary Bonus as well as Terminal Bonus.
  • On Death:

In the adverse event of death through the tenure of the plan, offered the policy is in-force:

Higher of A or B is remunerated to the nominee, where:

  • A is equal to Sum Assured on death plus Vested Simple Reversionary Bonuses plus Terminal bonus

Sum Assured on demise is higher of Basic Sum Assured or a multiple of annualized premium; where multiple is-




Multiple of annualized premium
Age at entry of Life Assured less than 45 years 10
Age at entry of Life Assured 45 years or more 7
  • B = Least amount death benefit which is equivalent to 105% of all the premiums compensated.
  • More benefits:

Additional cover throughout four set of riders:

  • SBI Life- Accidental Total and Permanent Disability Benefit Rider:

The rider Sum Assured will be compensated on the Life Assured being found qualified for the Total and Permanent Disability Benefit as distinct in the plan document.

  • SBI Life- Preferred Term Rider:

The Preferred Term rider Sum Assured is billed in addition to normal death benefit.

  • SBI Life – Accidental Death Benefit Rider:

In case demise due to a mishap, the rider Sum Assured is billed in addition to normal death benefit.

  • SBI Life – Criti Care 13 Non-Linked Rider:

The rider sum assured would be billed on the life assured being analyzed with any of the 13 diseases.

  • Tax Benefit:

One is entitled for Income Tax benefits or exemptions as per the valid income tax laws in India, which are subject to vary from time to time.


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