Sample premium
₹9,135 a year*
Term Life Insurance · head to head
New Tech-Term (Plan 954) vs Smart Swadhan Supreme
SBI Life
Smart Swadhan Supreme
Sample premium
₹22,284 a year*
Quick verdict
- Smart Swadhan Supreme is better for insurer's claim payout record.
- New Tech-Term (Plan 954) is better for cover to an older age.
- Smart Swadhan Supreme is better for low minimum cover.
Computed from stored specifications, the published term life insurance scoring rules and recorded prices. Not an opinion.
Specifications side by side
Spec
New Tech-Term (Plan 954)
Smart Swadhan Supreme
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
60 years
Maximum maturity age
80 years
75 years
Policy term
Minimum 10 years; maximum 40 years under Level Sum Assured (subject to maximum age at maturity 80); under Increasing Sum Assured the maximum depends on age and Basic Sum Assured band
RP: 10 to 30 years; LPPT-7 & 10: 15 to 30 years; LPPT-15: 20 to 30 years
Minimum sum assured
₹50,00,000
₹25,00,000
Maximum sum assured
No Limit* As per underwriting decision (Board Approved Underwriting Policy)
No Limit, subject to Board Approved Underwriting policy
Plan
Plan options
Option I: Level Sum Assured, Option II: Increasing Sum Assured
—
Premium payment
Regular Premium (same as policy term), Limited Premium ([Policy Term minus 5] years for policy term 10-40 years; [Policy Term minus 10] years for policy term 15-40 years) or Single Premium; Yearly or Half Yearly modes
Regular Premium or Limited Premium Payment Term of 7, 10 or 15 years; Yearly, Half-Yearly and Monthly
Return of premium option
No
Yes
Death benefit payout
Lump sum, or Death Benefit in instalments over 5, 10 or 15 years (yearly/half-yearly/quarterly/monthly), opted by the Life Assured for full or part of the claim
Lumpsum
Riders
LIC's Accident Benefit Rider (UIN 512B203V03)
SBI Life - Accident Benefit Rider (UIN 111B041V01), SBI Life - Waiver of Premium Rider (UIN 111B048V01)
Waiver of premium
—
Optional SBI Life - Waiver of Premium Rider (UIN 111B048V01)
Premium
Sample annual premium
₹9,135
₹22,284
Sample premium is for
Option I (Level Sum Assured), Basic Sum Assured Rs 1 crore, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium. Brochure: 'The above premiums are exclusive of taxes.' NOTE: 20-year term (cover to age 50), not the 30-year/age-60 profile; the brochure table only gives 20-year terms.
Brochure Illustration I: female (Miss Sharma), age 30, Sum Assured Rs 1,00,00,000, policy term 30 years, premium payment term 30 years, yearly, base policy instalment premium Rs 22,284 (Waiver of Premium Rider extra Rs 1,064). Smoker status not stated; brochure notes GST exemption for individual life policies w.e.f. 22 Sep 2025. NOTE: FEMALE profile; no male figure published.
Insurer
Death claims settled (insurer)
97.59%
98.34%
Claims figures for
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
IRDAI UIN
512N351V02
111N140V02
A tick marks the better value where the category rules say higher (or lower) is better. Text values are shown without a winner. Ties have no winner.
Pros and cons
New Tech-Term (Plan 954)
- Con: Cover ends earlier than 81% of the 27 term life insurance plans on Comparezi that state it (age 80)
- Con: Insurer paid a lower share of individual death claims than 88% of the 27 term life insurance plans on Comparezi that state it (97.59%)
Smart Swadhan Supreme
- Pro: Return-of-premium option available
- Con: Cover ends earlier than 85% of the 27 term life insurance plans on Comparezi that state it (age 75)