SBI Life - Kalyan ULIP Plus is a 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.
Particulars | Minimum | Maximum |
Entry Age | 18 years | 79 years |
Maturity Age | 80 years | |
Group Size | 10 member/employees | No limit |
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 |
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 |
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 |
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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