SBI Life - Smart InsureWealth Plus | ULIP Plan With Smart Investment
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SBI Life - Smart InsureWealth Plus

UIN: 111L125V02

Product Code: 2J

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SBI Life Smart Insure Wealth Premium Details

Make every
dream count
with an EMI#
that pays you.

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An Individual, Unit-linked, Non-Participating Life Insurance Product

"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"

As you keep moving ahead in life, your dreams keep growing with you. Achieve your aspirations while empowering your family's financial tomorrow with SBI Life – Smart InsureWealth Plus, a ULIP plan that builds your wealth while protecting your loved ones.

Key Benefits :
  • Systematic Investment Insurance Plan with market linked returns and life cover
  • Regular monthly payout to meet expenses through systematic monthly withdrawal
  • Return of Mortality charges (ROMC) on maturity of inforce policy

#Easy Monthly Insurance for life coverage.
Try the premium calculator below, for a clear understanding of this ULIP and its benefits.

Highlights

SBI Life Smart Insure Wealth

Unit linked, non-participating, insurance plan

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plan profile

Jeet, a 35-year-old, can now enjoy his financial independence and protect his family’s future with this unit linked plan.

Enter your details in the form fields below to see how you too can enjoy your financial freedom with SBI Life - Smart InsureWealth Plus.

Name(Assured):

DOB(Assured):

Gender:

Male Female Third Gender

Staff:

Yes No

Let's finalize the policy duration you are comfortable with...

Policy Term

Plan Type


A little information about the premium options...

Premium Payment Mode

Premium Amount

4,000 250000000

Let's finalize the Fund options...

Select Investment Strategy

Trigger Strategy
Auto Asset Allocation Strategy
Smart Choice Strategy

How would you like to split your investment?

Equity Fund (%)

0 100

Equity Optimiser Fund (%)

0 100

Growth Fund (%)

0 100

Balanced Fund (%)

0 100

Corporate Bond Fund (%)

0 100

MidCap Fund (%)

0 100

Bond Optimiser Fund (%)

0 100

Pure Fund (%)

0 100

Money Market Fund (%)

0 100

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Sum assured

Sum Assured


premium frequency

Premium frequency

Premium amount


premium paying

Premium Payment Term


policy term

Policy Term


maturity benefits

Maturity Benefit

At assumed rate of returns** @ 4%


or
@ 8%

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Features

  • Easy Monthly Insurance for Life coverage
  • Choice of 3 Investment Strategies to suit your needs – Trigger Strategy, Auto Asset Allocation Strategy, Smart Choice Strategy
  • Choice of 9 fund options under Smart Choice Strategy
  • Return of Mortality Charges(ROMC) on maturity of inforce Policy
  • Fund Value Boosters for policies in-force through loyalty additions, from the end of the 11th Policy Year
  • Option of Partial Withdrawal from 6th Policy Year & Systematic Monthly Withdrawal from the 11th policy year provided the policy is inforce
  • Tax benefits as per income tax laws*

Advantages

Security

  • Financial protection assuring family’s protection in case of an eventuality

Reliability:

  • Return of Mortality Charges on maturity of Policy & Assured loyalty additions from 11th policy year onwards for in-force policies

Flexibility

  • Choice of 3 investment strategies to suit your needs & option to switch among 9 funds to suit your changing needs under Smart Choice strategy

Liquidity

  • Option of Partial withdrawal and Systematic Monthly Withdrawal to meet your regular expenses provided the policy is inforce.
Maturity Benefit (Applicable only for in-force policies):
Fund Value at prevailing NAV on the maturity date will be, payable in lump sum along with the Return of Mortality Charges (ROMC).

In cases where Life Assured is a minor, the policy will automatically vest in the Life Assured on attaining 18 years of age.


Death Benefit (Applicable only for in-force policies):

  • For Life Assured with entry age below 8 years: On death of the minor lives before the date of commencement of risk under the policy, the company will pay the Fund Value as on the date of intimation of the claim to the company.


On death of the minor lives on or after the date of commencement of risk, the company will pay the Death benefit as mentioned below for age at entry 8 years and above.


  • For Life Assured with entry age 8 years and above: On death of the Life Assured with entry age 8 years and above, the company will pay the Death benefit as mentioned below.

Higher of

  1. 1.The Fund Value as on the date of intimation of death to the company, or
  2. 2.Sum assured less Applicable Partial Withdrawal (APW)^, or
  3. 3.105% of the total premiums received upto the date of death less Applicable Partial Withdrawal (APW)^


^APW equals an amount equal to partial withdrawals if any in the last 2 years immediately preceding the death of the Life assured.


On Death of Policyholder while the life assured is a minor:

On death of the Policyholder while the life assured is a minor, no immediate benefit will be payable. The policy may be continued by the appointment of a new Policyholder for the policy. If the policy is surrendered, the surrender value would be payable as per Surrender clause.


Settlement Option: Nominee or beneficiary or legal heir has the option to receive the Death Benefit, in instalments over 2 to 5 years under ‘Settlement’ Option as yearly, half yearly, quarterly or monthly payouts as required, from the date of death.

 


Note: During the settlement period, the investment risk in the investment portfolio is borne by the beneficiary.

For more details on risk factors, terms and conditions of SBI Life - Smart InsureWealth Plus, read the following documents carefully.
SBI Life Smart Insure Wealth Premium Details
$All the references to age are age as on last birthday.

@In case of minor lives with entry age below 8 years, the risk commences on completion of 1 policy year and 11 policy months from the date of commencement of policy. For entry age of 8 years and above, risk commences immediately.

$$ In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity of the policy, life assured should be a major.
 
++Annualized Premium means the premium amount payable in a year excluding the applicable taxes

NW/2J/ver1/02/22/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.

Various charges such as ‘Premium Allocation Charges’, ‘Fund Management Charges’ etc. are deducted. For the complete list of charges and their workings, please refer the Sales Brochure.

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 only the name of the insurance company and SBI Life – Smart InsureWealth Plus 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 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 please read the 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.