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.
Compare this plan with other Investment Plans
SBI Life Unit Plus Super - Key Features
Premium = Rs.50,000 Age = 30 years Policy Term = 20 years and 30 years
SBI Life Unit Plus Super - Benefits
In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever is higher.
When the policy term is over, the policyholder will get the fund value
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
There are 4 riders available in this policy
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There are 9 Investment Funds available
Not allowed in this plan
Minimum Switch amount is Rs. 5,000. Two Switches are allowed free of charge in a Policy Year.
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
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.
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.
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.
There is no loan available under this plan.
