SBI Life Smart Wealth Assure

A plan that give you minimum guaranteed results on your investments. In this a minimum return is guaranteed and maximum returns are based on the market performance. A ULIP plan is one whose return mainly depend on the market conditions and gives returns both on maturity of the policy or on the sudden demise of the policy holder.

Key Features

  • Financial protection to loved ones
  • Dual benefit of market linked return and guaranteed return
  • Limited premium payment

Benefits

  • Maturity benefit
On maturity the life insured gets fund value. Fund value is calculated by multiplying balance units and unit price. The fund value can be taken in periodical installments.
  • Death benefit
The nominee receives highest of sum assured or the fund value on death of the life insured.
  • Partial withdrawal
The maximum amount of withdrawal is 20% of the fund value on the date of withdrawal.

Add-ons

  • Rider benefit
Accidental death benefit

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 8 65
POLICY TERM 10 30
AGE OF MATURITY - 75
PREMIUM PAYEMENT TERM SINGLE
PAYMENT TERMS SINGLE

What if?

  • I am unable to pay on time
A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.
  • I stop the payment
If the policy is surrendered within 5 years then the fund value will be moved to discontinued policy fund. If it is surrendered after 5 years fund value will be paid out.
  • I wish to take a loan
No loan option is available in this policy.

Exclusions

  • Death benefit
The nominee will receive fund value of the amount of premiums paid if the life insured commits suicide.
  • The insured involves in illegal activity
  • Participating in professional sports