About SBI ULIP Plans
SBI Life Insurance is a most trusted Private life insurance company which provides various life insurance covers for customer needs and provides protection to insured family even after death of policyholder. SBI awarded as Most Coveted Outlook money awards 2014 for “Best Private Life Insurance Provider“.
SBI Unit Linked Insurance policy(ULIPs) is a combination of insurance cover plus long term investment. A part of premium is paid to the insurance cover option and remaining part is invested in various equity and debt schemes. SBI ULIP Plans is a simple joining process and no medical examinations are required. SBI ULIP Plans provides twin benefit of market linked returns and insurance cover. Accidental benefit riders are also available under this SBI ULIP Plans. SBI ULIP plans are dynamic and flexible by nature to be fitted to all your needs such as Wealth creation, planning for children education or marriage or securing money for your retirement age.
If the life assured commits suicide within one year from the risk commencement date then the policy will be void and no death benefit will be payable. However an amount equal to 80% of the premiums paid will be payable to the nominee in case of suicide within one year from the risk commencement date provided the policy is in force.
Benefits of SBI ULIP Plans
- Maturity Benefits and death Benefits are provided
- Provides Guaranteed Additions
- Additional Rider Benefits are Provided
- Tax Benefits are also available under Section 80CCC. For more information regarding Tax Benefits, visit www.taxqueries.in.
- At maturity age, the policyholder will receive the fund value
SBI ULIP Plans Example
Suppose a person aged 40 years had taken a SBI ULIP plans with a policy period of 10 years and the Sum assured by him is Rs.10 lakhs. Under this SBI ULIP plans both Maturity benefits and Death benefits are provided. Maturity Benefits is given as Fund value as Lump sum amount and Death benefits are given as Higher of fund value or Basic sum assured
SBI ULIP Plans
Different types of SBI ULIP plans are available which are briefly explained below
SBI Life Smart Wealth Builder: SBI Life Smart Wealth Builder is a unit linked insurance plan which helps the policyholder to meet all your financial and insurance needs through a single product and also helps the policyholder to create Long term wealth. The Policyholder can choose your required life insurance cover subject to minimum or maximum level using SBI Life Smart Wealth Builder Insurance plan. For more details please refer below site
SBI Life Smart Wealth Assure: SBI Life Smart Wealth Assure is a Unit Linked non-participating Life Insurance Plan which is a single premium plan, where the policyholder has to pay premium once and can continue to enjoy the benefits throughout the policy term. SBI Life Smart Wealth Assure plan helps you to enjoy market related returns along with its insurance cover by paying the premium only once for whole policy term. For more details please refer below site
SBI Life Saral Maha Anand: SBI Life Saral Maha Anand Policy is a non-participating unit linked insurance Plan where the premium amount is invested in the capital markets. This SBI Life Saral Maha Anand Policy provides guaranteed Additions of up to 30% of one annual premium for 20 years policy term which is subjected to the Policy being in force till the maturity date. Liquidity through partial withdrawals are available under this SBI Life Saral Maha Anand Policy. For more details please refer below site
SBI Life Smart Scholar: SBI Life Smart scholar policy is mainly used for the children. SBI Life Smart Scholar policy which is a non participating Unit Linked Insurance Plan which Secures your children future by gaining from the financial markets and it gives a protection to your child in your absence. Additional benefit equal to Accident Sum Assured. For more details please refer below site
SBI Life Smart Elite: SBI Life Smart Elite Insurance plan adds value to your investments. SBI Life Smart Elite is an individual non participating plan which gives you flexibility to pay premiums for limited term or single premium according to your needs. The Policyholder has the freedom to stay invested and protected for long term in SBI Life Smart Elite plan. For more details please refer below site
SBI Life Smart Power Insurance: SBI Life Smart Power insurance policy is a non-participating unit linked insurance plan which gives protection to your family as well as investment. This SBI Smart Power insurance policy comes to you at reasonable premium and is in tune with the current investment. This SBI Smart Power insurance policy is a flexible plan which takes care of your liquidity needs. For more details please refer below site