Robinhood Insurance Broker Private Limited

Product Info





Launch Date


Withdrawn Date

Product Overview

SBI Life Flexi Smart Plus Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

Product Description

  • SBI Life Flexi Smart Plus Policy is individual, participating traditional endowment life insurance policy
  • Two Protection Options Available: Gold Option & Platinum Option
  • Bonus interest rate declared at the end of every financial year


I hereby authorize OneInsure to communicate with me on the given number for my Insurance needs.
I am aware that this authorization will override my registry under NDNC.


Unique Features

  • Guaranteed Minimum Bonus Interest Rate of 1% for the whole term.
  • Partial withdrawals allowed from the 6th policy year to cater to your liquidity needs.
  • Flexibility to increase or decrease your chosen Sum Assured, Flexibility to increase your chosen Policy Term.

Eligibility Criteria

Eligibility Criteria
Age at Entry (Min) 18 Years
Age at Entry (Max) 60 Years
Age of Maturity Minimum: 23 Years Maximum: 65 Years
Minimum Limited Premium Amount (X 100) Frequency Minimum
Yearly  Rs 50,000 ( x 100 )*
Half yearly   Rs   30,000 ( x 100 )*
Quarterly Rs   20,000 ( x 100 )*
Monthly   Rs  9,000 ( x 100 )*
Maximum: No Limits
Notes: In case of mode changes it may be in multiples of Rs. 1
Policy Term 5 Years 30 Years
Premium Payment Term  Same as Policy Term
Premium Modes Yearly /Half-yearly /Quarterly / Monthly*
Notes: *For monthly mode: 3 monthly premiums to be paid in advance and renewal premium payment is allowed
only through  ECS, Credit card, Direct debit and SI- EFT.
Sum Assured Range Minimum Maximum 
Higher Of Annualised Premium  x 
10/7 ( Age < 45 / Age ≥ 45 ) or
Annualised Premium 0.50 / 0.25 (Age < 45 / Age ≥ 45 ) x Policy term
No Limit

OneInsure App Benefits

Store Digitally  |  Get Premium Reminders  |  Service and Claim assistances  |  Empower Nominee
Download OneInsure App :

Product Benefit

  • Maturity Benefit:
    On Maturity, the policyholder will be entitled for a Policy Account Value including Terminal Bonus Interest Rate, if any.
  • Death benefit: In case of unfortunate event of death of the Life Assured, the beneficiary will receive the following benefit-
  1. Gold Option: Higher of Fund Value or Sum Assured is payable; with a minimum of 105% of total premiums paid of intimation of the death claim.
  2. Platinum Option: Higher of Policy Account Value+ Sum Assured or 105% of the total premium paid as on the date of intimation of death claim.

Other Policy Features

Feature Description
Surrender If surrender is requested during the 1st 5 policy year
Your policy account value after deduction of applicable discontinuance charge will be transferred to the discontinuance policy Account
You will earn a minimum interest rate as applicable by IRDA guidelines
Life cover will cease to apply
If the surrender value is requested any time after completion of 5th Policy Year, then the policy account value will be paid immediately.
Discontinuance of the Policy  On Discontinuation of Premium:-
You can revive the policy within the period of 2 years from the date of Discontinuance
Surrender the policy 
Convert the policy into paid-up policy
Partial Withdrawals Partial Withdrawal is available on the 6th policy year
One free partial withdrawal at the policy year is allowed.
A charge of Rs. 100 per withdrawal will be charged, in excess of free partial withdrawal
Three Partial Withdrawal can be made in 1 policy year and not more than 10 partial withdrawal are allowed in 6-7 years.
Guaranteed Minimum Bonus Interest Rate A  minimum Bonus interest rate of 1% p.a is guaranteed for the whole term.
Bonus Interest rate It will be declared at every end of the financial year.
Terminal Bonus Interest rate It may be credited to your policy account at the time of exit on the account of maturity.
Your policy can be calculated at the Bonus interest Rate and the Terminal Interest Rate if any. Regular Bonus Interest rate is declared becomes guaranteed to the policy account.


Not Available


Policy Admin Charges Policy Admin Charges equal to Rs.70 per month for the 1st year and Rs. 50 per month for the 2nd year
It would increase each year @ 3% p.a. However, the policy administration charges will increase to Rs. 200 per month
Fund Management Charges It is a percentage of the policy account value and will be reflected in the account of the policy account.
The annual Fund Management Charges for the policy year is 0.75% p.a
Mortality Charges It is recovered on a monthly basis on the 1st working day of each policy month from the policy account mortality charge.
Premium Allocation Charges Policy Year Premium Allocation Charges
(% of premium)
Year 1 9%
Year 2-4 6.50%
Year 5 6%
Year 6th onwards 5%
Partial Withdrawal One Policy withdrawal charge is free of cost, subsequent policy charge is Rs. 100 per withdrawal.
Policy discontinuation charge
Policy discontinuance year Discontinuation charge
1 Lower of 6% of (AP or FV) subject to max RS.6,000
2 Lower of 4% of (AP or FV) subject to max Rs.5,000
3 Lower of 3% of (AP or FV) subject to max Rs.4,000
4 Lower of 2% of (AP or FV) subject to max Rs.2,000
5 onwards Nil


If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.

Tax Benefits

Income tax benefits are available under Section 80C and Section 10(D) of Income Tax Act, 1961.

Claim Process

Know Claim process of SBI Life Flexi Smart Plus Plan

Claim Process

Company Overview

SBI Life Insurance Company is a joint venture between State Bank of India and BNP Paribas Assurance, a French Multinational Bank. With its huge banking channel and customer base, SBI Life has soon become one of the top insurers in India. The company offers a wide range of life insurance and pension products at economical prices.


OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.


That’s a good decision!

By clicking on the “SUBMIT” button, I accept the Terms & Conditions and authorise OneInsure representatives to contact me via Call / SMS / Email


A OneInsure representative will call you shortly.

Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

That’s a good decision!

By clicking on the “SUBMIT” button, I accept the Terms & Conditions and authorise OneInsure representatives to contact me via Call / SMS / Email


A OneInsure representative will call you shortly.

Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.