News

SBI Life Insurance Launches Two New Child Insurance Plans: 'Smart Future Star' & 'Smart Platina Young Achiever'.

Banking & Finance | Dated: 08 Mar 2025

In March 2025, Mumbai (Maharashtra)-based SBI Life Insurance Company Limited (SBI Life), a joint venture (JV) between the State Bank of India (SBI) and French insurer BNP Paribas Cardif, launched two new child-focused insurance products: 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever'.

🎯 Key Highlights:

- These plans aim to assist parents in managing the rising costs of education, evolving career aspirations, and increasing lifestyle expenses by offering financial security for their children's futures.
- Both products showcase SBI Life's dedication to delivering innovative financial solutions that cater to the evolving needs of customers, ensuring financial preparedness and independence for children to achieve their aspirations.
- The 'SBI Life - Smart Future Star' is an individual, non-linked, participating life insurance savings product that offers long-term corpus growth through bonuses and includes an in-built Waiver of Premium benefit in case of the proposer's death or Accidental Total Permanent Disability (ATPD). It also provides flexibility with multiple maturity payout options to cater to changing financial needs.

💡 Other Important Facts:

(i) The 'SBI Life - Smart Platina Young Achiever' is an individual, non-linked, non-participating life insurance savings product that ensures guaranteed maturity benefits to support children's education, career, or marriage aspirations. It also includes an in-built Waiver of Premium benefit under specified conditions, providing financial security for the child's future.
(ii) This plan follows a risk-free savings approach, making it an ideal choice for parents seeking guaranteed returns and financial stability to help their children achieve their life goals.

📚 Test Your Knowledge:

Which insurance company, recently, launched two new child insurance plans named 'Smart Future Star' and 'Smart Platina Young Achiever'?

Correct Answer: SBI Life Insurance

🚀 Quick Recap:

About SBI Life Insurance Company Limited (SBI Life)

MD & CEO : Amit Jhingran
Headquarter : Mumbai