SBI Life - Smart Fortune Builder
UIN: 111L142V01
Product Code: 3M
"The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year"
Have you contributed your money to a life insurance plan that provides you financial security as well as the flexibility to manage your funds?
It’s time to start capitalizing today to reap the benefits tomorrow. With SBI Life – Smart Fortune Builder, avail the benefit of life coverage and enhanced wealth creation opportunity through market-linked returns. Also, get guaranteed additions* based on the term of the policy.
Key Benefits :
- Guaranteed Additions* based on the policy term; longer the term, higher the guaranteed addition.
- Get additional Guaranteed Addition on Maturity$
- Life cover and tax benefits%
- Market linked returns through 12 varied fund options as per risk appetite
*Guaranteed Additions at pre-specified percentage of Annualized Premium/Single Premium, would be made to the Fund Value at the end of 10th policy year and every 5th year thereafter, subject to policy being in-force as on date of proposed addition. Longer the policy term, higher the guaranteed addition. Maximum 150% of guaranteed additions available on selecting the policy term of 30 years under regular pay policies
$Guaranteed Addition on Maturity at pre-specified percentage (depending on the premium band) of Annualized Premium/Single Premium would be made to the Fund Value at the end of the Policy Term, subject to policy being in-force.
%Tax benefits, are as per the provisions of the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for further details.
Highlights
Unit linked, non-participating, insurance plan
Jeet, a 35-year-old, can now enjoy his financial independence and protect his family’s future with this unit linked plan.
Name:
DOB(Assured):
Gender:
Male Female Third GenderStaff:
Yes No
Sum Assured
Premium frequency
Premium amount
(excluding taxes)
Premium Payment Term
Policy Term
Maturity Benefit
At assumed rate of returns** @ 4%or
@ 8%
Features
- Life Insurance coverage throughout the policy term
- Guaranteed addition* based on the policy term; longer the term, higher the guaranteed addition
- Get additional Guaranteed Addition on Maturity$
- Flexibility: Enhanced investment opportunity through 12 varied funds option and the flexibility for switching and redirection
- Partial withdrawals from 6th policy year onwards+
- Option to enhance coverage by opting for Rider on payment of additional premium
$Guaranteed Addition on Maturity at pre-specified percentage (depending on the premium band) of Annualized Premium/Single Premium would be made to the Fund Value at the end of the Policy Term, subject to policy being in-force.
+Provided Life Assured is minimum 18 years old as on date of such withdrawal
Advantages
Security
- Ensure your family’s financial protection in the case of an eventuality
Reliability
- Grow your money through Guaranteed Additions*
Flexibility
- Adjust your plan according to your financial sensibilities
- Switch your investments among 12 funds to suit your changing investment needs
Liquidity
- Make partial withdrawals in the case of a financial emergency
Avail tax benefits&
- On Survival of the life assured up to maturity provided the policy is in-force, the Fund Value as on the date of maturity shall be payable in lump sum.
In case of death of the Life Assured during the Policy Term, provided all due premiums are paid till date of death, the beneficiary will receive the highest of the following:
- Fund Value as on the date of intimation of the death claim to the Company or
- Sum Assured less Applicable Partial Withdrawals (APW)##, or
- 105% of the Total Premiums Paid^ upto the date of death
##APW equals partial withdrawals, if any, in the last 2 years immediately preceding the death of the Life Assured.
^Total Premiums Paid means total of all the premiums received under the base product including top-ups premium paid, if any.
&Tax Benefits
For more details on Riders, terms and conditions, exclusions, please read rider sales brochure.
- Where Annualized Premium is the premium amount payable in a year excluding taxes, rider premiums and underwriting extra premium on riders, if any.
- Single Premium means the premium amount payable in lump sum at policy inception excluding taxes, rider premiums and underwriting extra premium on riders, if any
$$In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity life assured should be a major. In case of minor lives, date of commencement of policy and date of commencement of risk shall be same.
Various charges such as ‘Premium Allocation Charges’, ‘Policy Administration Charges’, ‘Fund Management Charges’ etc are deducted. All the charges except Premium Allocation Charges and Mortality Charges are subject to revision with the prevalent Regulations
For the complete list of charges and their workings, please refer the Sales Brochure.
3M/ver1/01/25/WEB/ENG
**Assumed rates of returns @4% and @8% p. a., are only illustrative scenarios at these rates after considering all applicable charges. These are not guaranteed and they are not higher or lower limits of returns. Unit Linked Life Insurance products are subject to market risks. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans and their future prospects or returns.
Unit Linked Life Insurance products are different from the traditional products and are subject to market risks. The premium paid in Unit Linked policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder/ insured is responsible for his/her decisions.
SBI Life Insurance Co. Ltd. is the name of the insurance company and SBI Life – Smart Fortune Builder is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risk and the applicable charges, from your Insurance Advisor or the intermediary or the policy document from the insurer.
The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects or returns. Past performance of the Fund Options is not indicative of future performance. All benefits payable under this policy are subject to tax laws and other fiscal enactments in-effect from time to time, please consult your tax advisor for details.
For more details on risk factors, terms and conditions of riders please read rider sales brochure carefully before concluding a sale.
&Tax Benefits:Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details. You may be eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. For further details click here.here.
Frequently Asked Questions
SBI Life Smart Fortune Builder is a unit-linked insurance plan (ULIP) designed to help you achieve your financial goals while providing life cover for your family. This plan combines the benefits of investment growth with the security of a protection plan.
The eligibility for the SBI Life Smart Fortune Builder Plan depends on factors like the policyholder's age, the chosen policy term, and the premium amount. It is suited for individuals planning long-term financial growth or securing a future for their loved ones under child insurance plans or other protection-oriented goals.
SBI Life Smart Fortune Builder offers a variety of fund options to suit different risk appetites and investment objectives. Policyholders can choose from equity, balanced, and debt-oriented funds, providing them with the flexibility to align their investments with their financial goals. This makes the plan a comprehensive life insurance solution tailored to individual needs.
The charges under the SBI Life Smart Fortune Builder Plan include policy administration charges, premium allocation charges, fund management charges, and mortality charges. These charges ensure the plan delivers optimal value while maintaining the benefits of both investment and protection.