SBI ULIP Plans In India
SBI Life is one of the leading Life Insurance companies in India. It is a joint venture between India’s largest bank State Bank of India and the leading global insurance company BNP Paribas Cardif. This joint mission has excelled in presenting insurance and investment solutions all across the country and offers more than one product in the classes inclusive of life insurance, pension, child plans, investments and financial savings. The sheer variety of disposal blended with the great reach of SBI makes the corporation a formidable force in the insurance industry.
Importance Of SBI ULIP Plans
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Financial Protection - Your short and long-term goals such as child's marriage, education, etc can be fulfilled in a planned manner
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Good Returns- Returns on investment plans are usually better if you consider post-tax yields compared to other investment options (especially in Unit-Linked Insurance Plans)
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Tax Benefits- You get a tax deduction for the premium you pay under Section 80C and the money you realize on maturity is tax-free under Section 10 (10) D of the Income Tax Act
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Riders Benefits- You can add riders like critical illness, accidental death, waiver of premium, etc.
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Loan- You can also avail a loan on the investments in case you need money at a later stage. The rate of interest differs from company to company.
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Dual Benefits - You get the benefit of saving your money for future needs as well as increasing your wealth by investing in the stock market.
Types Of SBI ULIP Plans
1. SBI Life Smart Wealth Builder
With SBI Life – Smart Wealth Builder, avail the benefit of enhanced investment opportunity by investing in one or many investment funds. It offers liquidity through partial withdrawals from 6th policy year or 18 years of age.
2. SBI life Smart Wealth Assure
It helps you to enjoy market-linked returns along with insurance coverage, with only a one-time premium. Take advantage of affordability – with a one-time premium payment for long-term benefits.
3. SBI life Smart Power Insurance
This plan assists in wealth creation journey with the help of reasonable premiums. Also, obtain returns in tune with the current investment scenario.
4. SBI Life Smart Elite
It allows you to maximize your savings through market-linked returns and features that empower you with greater control in managing your investment portfolio.
5. SBI life Smart Privilege for UHNIs
This plan helps you to grow your wealth by choosing from among 8 funds with unlimited free switches and redirections. Also, enjoy the benefit of insurance coverage as you multiply your investments.
6. SBI life Saral Maha Anand
It will help you to gain twin benefits of market-linked returns and security of life insurance coverage for your family. With reasonable premiums and no medical examination
7. SBI life eWealth Insurance
Avail twin benefits of market-linked returns on your invested money and the security of life cover. It comes out with the security to cover your family's needs in case of an eventuality.
Things To Check Before Investment Planning
1. Investment objective
Normally, people invest their funds with a single objective of getting returns. The time period to meet the desired result may vary from months to years.
2. Recognize The Fund House
While you put money into a fund, you provide permission to the fund house to use your money on your behalf. The fund house will take care of your investments.
3. Fund overall performance
The ultimate purpose is to return. Investors ought to look at returns given by means of the fund at some stage in intervals and compare them with the benchmark, commonly an index, and much more. For equity mutual finances, take a look at the long-time period (3-5years) performance, at the same time for debt funds observe returns over the short to the medium time period.
4. Charges
Those small prices may have a huge effect on returns in the long run. A difference of 0.50% in ordinary price over an extended duration of 10 years can make a huge distinction. However, many people don't have a look at the fund house's claim ratio before making an investment. People should check the same as well.
5. Research On Fund Manager
It is critical to recognize the fund supervisor as well. One could do so via analyzing the overall performance of price range managed by him, specifically all through periods when markets went through tough times.
6. Claim Intimation And Settlement Process
At SBI Life, it is a commitment to offer a worry-free future so that you can enjoy your present. It makes every effort to ensure that you receive the claim amount that you or your family are entitled to, quickly and easily.
FAQ's
Fund Value is the total number of units under the funds and the corresponding NAVs.
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What is Deferment Period?
It is the period between the date of subscription to an insurance-cum-pension policy and the date on which you receive the first installment of pension. Such policies generally prescribe a minimum and maximum limit on the deferment period.
