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  • SBI Life ULIP Plans

    SBI Life

    Unit Linked Insurance Plans (ULIP) are ideal for long term investments. These are investment plus protection plans help you get market linked returns as well as protection. The State Bank of India provides you option of investing a wide range of ULIP plans so that you can receive insurance protection as well as fulfil your investment appetite. SBI ULIP Plans come with a host of attractive features and flexibilities. The bank provides seven ULIP Plans so that you can have ample choice to choose a plan as per your requirements.

    Listed below are the ULIP Plans offered by SBI Life:

    1. SBI Life -Saral Maha Anand
    2. SBI Life -Smart Elite
    3. SBI Life -Smart Wealth Builder
    4. SBI Life -Smart Scholar
    5. SBI Life -Smart Power Insurance
    6. SBI Life -Smart Wealth Assure
    7. SBI Life - eWealth Insurance

    1. SBI Life -Saral Maha Anand

    This is a very simple unit linked life insurance product designed to meet your investment needs. It is a non-participating ULIP plan. The benefits and features of this plan include:

    • Medical examination not required.
    • Guaranteed addition up to 30%.
    • 3 fund options to invest your funds.
    • No premium allocation charge is applicable.
    • Liquidity via partial withdrawals
    • Sum assured varies as per age.
    • Policy terms are 10, 15 and 20 years.
    • Minimum entry age 18 years.
    • Maximum entry age 50 years.
    • Maximum age at maturity is 60 years.
    • The policy offers Death benefits, Maturity benefits, Riders benefits and Tax benefits.

    2. SBI Life -Smart Elite

    It is a unit linked plan which allows you to pay premium for a limited term and enjoy protection and investments. The plan comes with the following features and benefits:

    • Minimum entry age 18 years.
    • Maximum entry age 60 years.
    • Policy terms - 5 to 20 years.
    • Premium paying terms- Single and 5, 8 and 10 years for LPPP.
    • Premium modes are - single, quarterly, monthly, yearly and half-yearly.
    • Sum assured varies based on age of the policyholder.
    • The plan comes with in-built benefits such as accidental benefits.
    • It also provides tax benefits, maturity benefits and death benefits.

    3. SBI Life -Smart Wealth Builder:

    It is another unit linked, non-participating life insurance plan offered by SBI. The plan is designed to meet your insurance and financial requirements. Listed below are major benefits and features offered by the plan:

    • No premium allocation charge.
    • 7 different funds to invest your savings.
    • Guaranteed additions.
    • No policy administration charge for initial 5 years.
    • Get tax, death and maturity benefits with this plan.
    • Minimum entry age is 7 years
    • Maximum entry age 65 years for Single pay and 60 years for Regular pay and Limited pay.
    • Maximum age at maturity should be 70 years.
    • Policy terms are- 10, 15, and 30 years.
    • Premium payment modes- Yearly and single.

    4. SBI Life -Smart Scholar:

    This ULIP is designed to secure your child's future. The plan provides dual protection including market linked returns and investments. The key benefits and features offered by the plan include:

    • Partial withdrawal is allowed
    • Offers 7 funds.
    • Minimum entry age: child: 0 and proposer: 18 years
    • Maximum entry age: child: 17 and proposer: 57 years
    • Maximum age at maturity 65 years.
    • Policy terms are - Minimum: 8 years; Maximum; 25 years.
    • Premium Paying terms 5 to 25 years.
    • Suma assured varies.

    5. SBI Life -Smart Power Insurance

    This is a unit linked non-participating insurance plan that provides you insurance protection as well as fulfill your investment needs. The plan charges lower premium rates. The key features and benefits of the plan include:

    • Two plan options to choose from.
    • Two funds options are available.
    • Switching of funds allowed.
    • The option of Partial withdrawal is available.
    • Minimum entry age is 18 years.
    • Maximum entry age is 65 years.
    • Policy terms are- 10, 15, and 30.
    • Premium paying modes are - Quarterly/ Monthly/half-yearly and yearly.
    • The policy offers Death benefits, Maturity benefits, Tax benefits and in built Accelerated Total and Permanent Disability (TPD) Benefit

    6. SBI Life -Smart Wealth Assure

    It is a single premium unit linked life insurance plan that allows you to pay premium once and enjoy the benefit for the remaining policy tenure. The main features and benefits of the plan include:

    • Invest in Bond Fund and Equity Funds.
    • Partial withdrawal is allowed.
    • Minimum entry age is 8 years.
    • Maximum entry age 65 years.
    • Maximum age at maturity is 75 years.
    • Premium paying term is single.
    • Minimum premium required is Rs.50, 000.
    • There is no limit on maximum premium payment.
    • Sum assured differs.
    • The plan comes with tax benefits, death benefits and maturity benefits.

    7. SBI Life - eWealth Insurance

    This is an online non-participating unit linked plan that provides life insurance cover and market linked returns. Its main features and benefits include:

    • No premium allocation charge is applicable
    • Partial withdrawal is allowed.
    • You can choose between two plans - Balanced and Growth.
    • Minimum entry age 18 years.
    • Maximum entry age 50 years.
    • Maximum age at maturity is 60 years.
    • Premium paying frequency- Monthly and yearly.
    • Sum assured annualized premium × 10.
    • It provides maturity benefits, death benefit and tax benefits.
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