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SBI Life Unit Plus Super

SBI Life – Unit Plus Super

SBI Life Unit Plus Super Plan is a unit linked insurance plan (ULIP), where the premiums are invested in the equity or debt markets as selected by the policyholder. The risk of investment is borne by the policyholder and not by the insurance company.

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Unit linked insurance plan
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Guaranteed Additions
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4 rider benefits

Compare this plan with other Investment Plans

SBI Life Unit Plus Super - Key Features

Unit linked insurance plan
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Guaranteed Additions from 10th policy year onwards
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Option to increase or decrease your Sum Assured from 6th Policy Year onwards
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Choice of 4 rider benefits available
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Premium
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Premium = Rs.50,000

Age = 30 years

Policy Term = 20 years and 30 years

...

SBI Life Unit Plus Super - Benefits

Death Benefit

In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever is higher.

Maturity Benefit

When the policy term is over, the policyholder will get the fund value

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Riders

There are 4 riders available in this policy

  1. Criti Care 13 Rider
  2. Accidental Death Benefit Linked Rider
  3. Premium Payor ...

Investment Fund Options

There are 9 Investment Funds available

  1. Index Fund
  2. Equity Fund
  3. Top 300 Fund
  4. ...

Top-up

Not allowed in this plan

Switching

Minimum Switch amount is Rs. 5,000. Two Switches are allowed free of charge in a Policy Year.

Partial Withdrawal

You are allowed to make partial withdrawals in this policy after 5 complete policy years or the life assured is 18 years old, whichever is later....

Eligibility conditions and other restrictions in SBI Life - Unit Plus Super

  Minimum Maximum
Sum Assured (in Rs.) Higher of 10XAP

or

0.5 x Term x AP

20 X AP
Policy Term (in years) 10 30
Premium Payment Term (in years) Single 30
Entry Age of Policyholder (in years) 7 65
Age at Maturity (in years) NA 75
Single Premium (in Rs.) 65,000 1,50,000
Payment modes Single and Yearly

 

SBI Life Unit Plus Super - FAQs

angle right iconWhat happens if You stop paying the premium before 5 years?

 If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

 

angle right iconWhat happens if You stop paying the premium after 5 years?

If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

angle right iconWhat happens if You want to surrender the policy?

 If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

angle right iconWhat happens if You want a loan against your policy ?

There is no loan available under this plan.