SBI Life Unit Linked Insurance Plans (ULIPs)

Unit Linked Insurance Plan is one of the financial products offered by SBI Life which is a combination of insurance and investment. They are the linked to the market. This way these products offer returns on investment and life insurance cover. The part of the premiums are invested in market - equity, debts, hybrid, based on the investor's choice which helps to build funds. And part of the premiums is kept to provide life cover.

Features

The best of both the world - insurance and investment in one basket

Part of the premiums are invested while other part is used for providing the coverage

Each plan offers returns on maturity

In case life assured dies during the term, the sum assured is paid to the nominee

Option to surrender or partially withdraw ULIPs

Tax Benefits as per the Section 80C and 10(10D) under the Income Tax Act, for premiums and the payouts.

SBI Life types of ULIPs:

SBI Life - Smart privilege

Option of regular, limited, and single premium payment policies is available. Choice of 8 different funds with no premium allocation and policy administration charges with unlimited free switches.

Parameter Eligibility Age at Entry

8 years for RP and LP, 13 years for SP

Maximum - 55 years Age at Maturity 18 - 70 years Maturity Benefit On completion of Policy Term, Fund Value will be paid Death Benefit Higher of Fund Value or Sum Assured is payable; with a minimum of 105% of total premiums paid till the date of intimation of death.

SBI Life - eWealth Insurance

Automatic Asset Allocation with choice of two plans - Balanced and Growth. No premium allocation and policy administration charges. Regular payment mode option and sum assured as 10 times of annualised premiums.

Parameter Eligibility Age at Entry

Minimum - 5 years

Maximum - 50 years Age at Maturity 60 years Maturity Benefit On completion of Policy Term, Fund Value will be paid Death Benefit Higher of (Fund Value or Sum Assured less applicable partial withdrawal @ or 105% of total premiums received up to the date of death less applicable partial withdrawal @) is payable to the beneficiary, as on the date of intimation of death claim to the company

SBI Life - Smart Wealth Builder

Option of regular, limited and single premium payment policies. Policy Term can be 10, 15 to 30 years. Offer the option of 7 funds. Guaranteed Additions of up to 125% of one annual premium after 10th year of policy for a policy term of 30 years under regular premium payment policy.

Parameter Eligibility Age at Entry

Minimum - 7 years

Maximum - 60 years for RP and LP

65 years for SP Age at Maturity 70 years Maturity Benefit On completion of Policy Term, Fund Value will be paid Death Benefit Higher of the Fund Value or Sum Assured is payable; with a minimum of 105% of total basic premiums paid till the date of intimation of death

SBI Life - Smart Wealth Assure Only single premium payment option with an optional Accidental Death Benefit Rider. Policy Term can be 10 to 30 years and offers option of 2 funds.

Parameter Eligibility Age at Entry

Minimum - 8 years

Maximum - 65 years Age at Maturity 75 years Maturity Benefit On completion of Policy Term, Fund Value will be paid Death Benefit

Higher of the Fund Value or Sum Assured is payable; with a minimum of 105% of Single premium paid

Provides additional death benefit if the death occurs as a result of an accident

SBI Life - SaralMahaAnand Only regular premium payment options. With an option to customize with Accidental Death Benefit Ride. Policy Term can be 10/15/20 years. Offers option of 3 funds as per the risk appetite.

Parameter Eligibility Age at Entry

Minimum - 18 years

Maximum - 55 years Age at Maturity 65 years Maturity Benefit On completion of Policy Term, Fund Value will be paid Death Benefit

Higher of the Fund Value or Sum Assured is payable; with a minimum of 105% of Single premium paid

Provides additional death benefit if the death occurs as a result of an accident

SBI Life - Smart Scholar This plan is designed keeping child's future growth. Offer an inbuilt Waiver of Premium featured rider, while an option to customise with Accidental Death Benefit and Total Permanent Disability Rider. Option of 7 funds allocation.

SBI Life - Smart Elite Offers two protection plan - Gold and Platinum. Switch and redirect your funds.Customize with Accidental Death Benefit and Total Permanent Disability Rider. You can choose limited premium or single premium payment option.

Parameter Eligibility Age at Entry

Minimum - 18 years

Maximum - 60 years Age at Maturity 65 years Maturity Benefit On completion of Policy Term, Fund Value will be paid Death Benefit

For Gold Option:

Higher of Fund Value or Sum Assured# is payable; with a minimum of 105% of total premiums paid till the time of death

For Platinum Option:

Fund Value plus Sum Assured is payable; with a minimum of 105% of total premiums paid till the time of death

Provides an additional benefit for Accidental Death or Accidental TPD

SBI Life - Smart Power Insurance Offers two protection plan as increasing and level sum assured. Inbuilt Accelerated Total Permanent Disability Rider. Two fund options - Trigger and Smart Funds and flexibility of two free switches.

Parameter Eligibility Age at Entry

Minimum - 18 years

Maximum - 45 years Age at Entry 65 years Age at Entry On completion of Policy Term, Fund Value will be paid Age at Entry

Higher of the Fund Value or Sum Assured is payable; with a minimum of 105% of total basic premiums paid till the time of death



In case of TPD due to Accident or Sickness, 100% of the Death Benefit will be paid immediately