sbi life insurance
SBI Life Shubh Nivesh Policy

SBI Life Shubh Nivesh Plan

SBI Life Shubh Nivesh is a Whole Life Individual, Non-Linked, Participating life insurance savings product, bound to provide you regular stream of income. You will receive a variety of advantages, including insurance protection, savings, a steady income, and wealth transfer. It’s the ideal present for both you and your loved ones. Amazing features included in the strategy provide it with more versatility. Additionally, this traditional investment plan serves as a useful instrument for achieving your long-term financial objectives by offering the choice of recurring distributions and creating a sizable corpus as a lump sum payment upon maturity. There are two variations of this plan: an endowment option and an endowment with a whole life option.

Read on to know more about the SBI Life Shubh Nivesh Plan’s eligibility, benefits, coverage, inclusions, exclusions, and more.

Eligibility Criteria

Here is the eligibility for SBI Life Shubh Nivesh plan.


Min: 18 years

Endowment Options –

Regular Premium – 55 years

Single Premium – 60 years

Endowment with Whole Life Option –

50 years (For both Single/Regular Premium)

Maximum Age at Maturity65 years
Basic Sum Assured

Min: ` 75,000 (x 1,000/-)

Max: No Limit, subject to

Board-approved underwriting policy

Policy Term

Min: Endowment Option:

10 (RP) / 5 (SP) years

For Endowment with Whole Life

Option: 15 years (For both SP/RP)

Max: 30 years (Endowment Term)

Premium Paying TermSingle Premium / Regular Premium (same as policy term)
Premium FrequencySingle Premium / Yearly / Half-Yearly / Quarterly / Monthly
Premium Frequency Loading

Half-Yearly: 51.00% of annual premium

Quarterly: 26.00% of annual premium

Monthly: 8.50% of annual premium



Single Premium: Rs. 43,000

Yearly: Rs. 6,000

Half-Yearly: Rs. 3,000

Quarterly: Rs. 1,500

Monthly: Rs. 500


No Limit, subject to Board approved

underwriting policy

Salient Features & Benefits of SBI Life Shubh Nivesh Plan

Here is the list of the features and benefits of SBI Life Shubh Nivesh Plan. 

  1. Grace Period

For the SBI Life Shubh Nivesh plan, the grace period is 15 days for monthly premium payments and 30 days for alternative payment methods. The insurance will expire if the policyholder does not pay the premiums during the grace period.

  1. Maturity Benefit

Endowment Option

  • The SBI Life Shubh Nivesh plan will pay the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal Bonus, if any will be paid, while the policy is in force, after the endowment period.
  • After the endowment period expires, participants in the plan have the option of selecting a deferred maturity payment.

Endowment With Whole Life Option

  • During the period that the policy is in effect, the plan will pay the Basic Sum Assured plus any vested Simple Reversionary Bonuses and Terminal Bonuses after the endowment term.
  • The policyholder will receive the basic sum assured benefit if they reach 100 years old.
  • After the endowment period expires, participants in the plan have the option of selecting a deferred maturity payment.
  1. Death Benefit

Endowment Option

Before the endowment period expires, if the life insured passes away:

  • For regular premium insurance, a higher sum assured plus vested terminal bonuses and simple reversionary bonuses, or 105% of all premiums paid up until death, is offered.
  • The sum assured on death, vested Simple Reversionary Bonuses, and the terminal bonus are paid in the event of single premium policies.

Endowment With Whole Life Option

  • If the policyholder passes away before the conclusion of the endowment term, the beneficiary will receive the sum promised plus any additional incentives announced by the company.
  • The beneficiary of the policy will receive the benefit of the basic sum promised upon death following the endowment term’s completion and up until age 100.
  1. Income Tax Benefit

Another biggest benefit of choosing the SBI Life Shubh Nivesh Plan is that the Section 80C permits the deduction of up to Rs. 1,000,000 in annual life insurance premiums from taxable income, while Section 10(10)D permits the tax-free distribution of maturity proceeds upon the satisfaction of certain requirements.

  1. Surrender Value

By surrendering the insurance for a surrender value during the endowment term, you can cancel the paid-up policy before it matures. The higher the Non-Guaranteed Special Surrender Value (SSV) and the GSV would be the Surrender Value upon surrender (including the surrender value of vested bonuses). In the case of regular premium insurance, the Guaranteed Surrender Value (GSV) will be determined by multiplying the GSV factors by the total premiums paid.

Exclusions Under SBI Life Shubh Nivesh Plan

No benefit will be provided for any condition resulting directly or indirectly from, through, or as a result of the exclusion and limitation listed below:

  • Exclusion of Suicide

The nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid up to the date of death or the surrender value available as on the date of death, whichever is higher, provided the policy is in force, in the event of death by suicide within 12 months from the date of commencement of risk under the policy or the date of revival of the policy, as applicable. The contract will end after the aforementioned benefit has been paid.

What is the Functioning of SBI Life Shubh Nivesh Plan?

Let’s take an example to understand!

Dinesh, a 47-year-old professor, has opted for an endowment plan with whole-life coverage to take care of his family’s financial needs and stay protected for life. After getting many suggestions from friends and searching on the internet, he stumbled upon the SBI Life Shubh Nivesh Plan and found it a great deal of investment to protect against uncertainties in life. Mr. Dinesh, then, decided to safeguard his family with this plan.

Policy TermPlan TypePremium frequencySum AssuredPremium Frequency YearlyMaturity Benefit
15 yearsEndowment optionYearly10 lakhsRs. 71,390

At assumed rate of returns@ 4% Rs. 12,58,750


@ 8% Rs. 15,60,625

Frequently Asked Questions

You will receive a surrender value from SBI Shubh Nivesh if you terminate your insurance plan within the policy duration. The Guaranteed Surrender Value or Special Surrender Value, whichever is higher, determines the Surrender Value.

The policyholder is qualified to borrow money against their SBI Subh Nivesh policy in times of financial need. Loan amounts are capped at a maximum of 90% of the surrender value and are only accessible when the policy has accrued the surrender value.

The company will provide you a grace period of 15 days for monthly premium payments and 30 days for other forms of premium payment, such as quarterly, bi-annually, and annually if you have forgotten or stopped paying the premium of your SBI Shubh Nivesh Plan. Your policy will expire and you won’t be able to receive any benefits if you don’t pay your premium during the grace period.