• SBI Life - Kalyan ULIP Plus

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    Fees & Charges

    Promised Interest Rate

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    SBI Life - Kalyan ULIP Plus is a unit linked group insurance plan, which is non-participating. The uniqueness of this plan is that it offers both the primary policyholder (employer) as well the group member (employee) the same features and benefits. The plan will help you manage the funds for all your fund management needs. From Gratuity, Superannuation to Leave Encashment, this plan will cover it all.

    The Conditions Required to be Met in Order to Take Up the SBI Life - Kalyan ULIP Plus:

    Particulars

    Minimum

    Maximum

    Entry Age

    18 years

    79 years

    Maturity Age

    80 years

    Group Size

    10 member/employees

    No limit

    The Main Features of The Kalyan ULIP Plus:

    1. This is a unit-linked, non-participating group plan, wherein the master policyholder is the employer.
    2. The Kalyan ULIP Plus plan offers you a great platform to manage the funds for the group for the below mentioned schemes:

    Scheme to choose from

    Defined Benefit scheme

    Defined Contribution scheme

    Hybrid Scheme which is a combination of both the Defined Benefit and Defined Contribution schemes.

    1. The premiums will be paid by the master policyholder/ employer as per the scheme rules of life insurance , the minimum premium at the time of inception that needs to be paid is Rs. 50, 000.
    2. The premium payment can be made with payment options chosen by the policyholder. The premium can be made at any time of the year depending on the valuation report of the funds.
    3. You can choose between 6 different fund options to make your investments in:

    Group Growth Plus Fund II

    Group Balanced Plus Fund II

    Group Debt Plus Fund II

    Group Short Term Plus Fund II

    Group STO Plus Fund II

    Group Money Market Plus Fund

    1. Manage your funds in efficient manner, by using the option of switching between funds at any time. When you want to switch between the fund options you need to move at least a 5% amount into a different fund.
    2. You can also redirect your future premiums that are yet to be paid to your choice of funds as per your needs. Per policy year you can make 4 offline redirections and online redirections totally free
    3. For any superannuation scheme, both switching and redirection of premiums and funds are not allowed.
    4. For you loyalty, you can earn loyalty units for investing with us. At the end of each policy year these loyalty units will get accrued and the first credit will be after the policy has completed 2 years, and then will be added annualy.
    5. Make use of the Systematic Transfer Option, by using this fund you will simply invest your monies into this fund, and SBI Life will automatically invest the same Group Growth Plus Fund II in 12 installments for a period of 3 policy months from the contribution date.
    6. Provide all employees under this plan with life cover of Rs. 1, 000 under the Leave Encashment and Gratuity schemes.
    7. Free - look period of 15 days will be provided to go through the terms and conditions of the plan and if the employer/ master policyholder disagrees with the policy they can return the policy.

    The Main Advantages or Benefits of the Kalyan ULIP Plus:

    Type

    Details

    Scheme Benefit

    In this scheme, in the event of death, resignation, retirement, etc. the benefit will be payable. This amount will be paid from the policy account to either the master policyholder or the group member.

    Insurance Benefit

    In the event of the death of the member the sum assured will be paid to the nominee by the master policyholder. Only the Leave Encashment and Gratuity schemes are applicable for insurance.

    Tax Benefit

    As per the Income Tax Act 1961, the tax benefits will be applicable

    Investment of Funds Can Be Done as Per The illustration Below:

    Name of fund

    Equity and Equity Instruments

    Debt

    Money Market Instruments

    Risk

    Group Growth Plus Fund II

    35% - 60%

    25% - 65%

    0% - 40%

    High

    Group Balanced Plus Fund II

    20% - 35%

    40% - 80%

    0% - 40%

    Medium - High

    Group Debt Plus Fund II

    0% - 20%

    40% - 100%

    0% - 40%

    Low - Medium

    Group Short Term Plus Fund II

    0%

    25% - 100%

    0% - 75%

    Low

    Group STO Plus Fund II

    0%

    0%

    100%

    Low

    Group Money Market Plus Fund

    0%

    0%

    100%

    Low

    The Charges That Will Need to Paid to SBI Life:

    Type

    Charges

    Allocation

    Nil

    Administration

    Defined Benefit scheme - Nil

    Defined Contribution scheme and other schemes - Rs. 20 per annum per member

    Fund Management

    0.60% per annum

    Mortality

    Rs. 1 per annum per member for a Rs. 1, 000 sum assured

    Switching Funds

    Nil

    Surrender

    0.05% of the fund with a cap of Rs. 5, 00, 000

    Redirection of Funds

    Nil

    Service Tax, Education Cess, GST

    as applicable

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    SBI Life Kalyan ULIP Plus Plan Reviews

  • Page 1 of 25 1 2 3 4 5
    • SBI Life Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have take life insurance from Sbi life . Am satisfied with the premium amount . This policy covers accidental coverage and critical illness . Every 3 month i had to pay through cheque. They gave the tenure period of 13 years with 55years of policy coverage. Their customer service and response is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 17, 2018
    • SBI Life Life Insurance
      "Better Policy"
      0.5 5.0/5 "Blown Away!"
      Total tenure of the policy is 20 years. It is a cashback policy. Every 5 years i will get 10%. Every 5 years they will give the cashback policy. Once in 5 years, my number will update in their system, i have to give a blank cheque. At the end of th term , I would get bonus points I guess.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2018
    • SBI Life Life Insurance
      "Good insurance for life"
      0.5 4.0/5 "Great!"
      I have the life insurance policy with the SBI life and I am holding it from the last one year of time. Customer service is good one with them and the response is also good one too. Premium amount is nominal one for me with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 07, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      With SBI life I hold the life insurance policy . I have got the Life insurance policy for more than 3 years. This policy has the tenure of 12 years. I get on time reminders to pay the premium . The customer support service and the response is excellent with the SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on May 28, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy from the SBI life. I pay a premium of 1300 per year. The premium gets Auto debited from the account. I never had any issues with the policy and their services. I'll have to wait and see how this policy turns out in future.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2018
    • SBI Life Life Insurance
      "Best Pension Scheme"
      0.5 5.0/5 "Blown Away!"
      I started using this SBI Pension policy 4 years back. Total tenure of the policy is 10 years. I used to pay Rs. 50000 per annum. After 10 years every month i used to receive 5000 from the scheme till end of my life. Death coverage is there. My wife would be be beneficiary.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I"ve a life insuranc epolicy wiht the SBI life. I apy a premium of 1499 per year for a coverage of 10 Lacs coverage. The premium gets auto debited from my account which is pretty much convenient for me. Overall it is a good policy to have and never had any issues with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on May 16, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Anand Life Insurance policy for the past 8 Years. I make Online Payments, being a Govt company the trust factor is there and I'm paying a premium of 20000 per year. I never faced any issues with the policy and its features.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 04, 2018
    • SBI Life Life Insurance
      "Better policy to use"
      0.5 3.0/5 "Satisfactory"
      Got the life insurance policy from the SBI life around 4 years ago. This policy has the tenure of 20 years. The customer support service and the responds is good with the SBI life. The plan benefits and the policy coverage are good with the SBI life insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 30, 2018
    • SBI Life Life Insurance
      "SBI life insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance from SBI life and the premium amount is 75000 for 20 years. Actually i have taken this life insurance since i have taken a home loan from State bank of India. The customer service and response is good with them.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 17, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I am having a life insurance policy with SBI life from last 3-4 months and it is one of the good policy to use. I am not aware of the maturity period of this policy. I pay my premium on monthly basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 06, 2018
    • SBI Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold the SBI life insurance policy for the past 1 year. The customer support service is good with the SBI and they give good response to the customers. This policy has the tenure of 5years. I pay the premium amount of Rs.10,000 in every year once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 04, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with SBI life from last 2 years and it is a short term policy. The tenure of this life insurance policy is 10 years. I pay my premium once in 6 months and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 26, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The SBI Life give good returns to the customers. The coordination is excellent with the SBI life . This life insurance policy has the tenure of 10years, I pay the premium amount of Rs,30,000 per annum. The plan benefits and the coverage is good with this policy,
      Was this review helpful? 0
      , allahabad
      Reviewed on Mar 26, 2018
    • SBI Life Life Insurance
      "Average"
      0.5 1.0/5 "Really Bad"
      I have taken accidental policy with SBI Life since 2004. I have received the documents only for the first year and they are deducting some amount but am not receiving any documents. I have paid 100 or 200 rupees yearly, the premium was very low. I am not sure about other benefits.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 16, 2018
    • SBI Life Life Insurance
      "SBI life , life insurance"
      0.5 3.0/5 "Satisfactory"
      I have taken a life insurance from SBI LIFE. The total premium amount is 25000. I have to pay the premium for 5 years and after the maturity period i will get the sum assured plus the bonus amount. The premium amount will be directly debited from the salary account.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 15, 2018
    • SBI Life Life Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a savings plan and I have to pay a premium up to the age of 60 years. If anything is to happen to me my family will get a sum assured and bonus. Else I would get only the sum assured. Like wise there is a sum assured at the age of 100years too.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 28, 2018
    • SBI Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a term insurance from SBI Life. The best about this company is that the premium is low and economical. The tenure is till the age of 60 years. After which the beneficiary will get the benefits. The sum assured is also good. I am happy with the benefits.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 28, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with SBI Life.The premium amount is 19,000 in a year.The policy coverage is 3-4 lakhs,I have claim experience once they had covered 70 k.The policy is for 15 years.I had closed this policy and I am planning to open a new one.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 26, 2018
    • SBI Life Life Insurance
      "Good policy to use"
      0.5 3.0/5 "Satisfactory"
      I have taken a Money back policy with SBI Life from last 20 years and it is a good policy to hold. The tenure of this life insurance policy is 20 years and i get a cash back after every 4 years. I pay my premium once in a year through net banking and the payment options are convenient for me. I get good coverage and returns in this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 21, 2018
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