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SBI ULIP Plans

To cater to your wealth creation needs, SBI offers 8 ULIP plans. Unit Linked Insurance Plans are investment-cum-life ...Read More

Minimum Age- 14 year
Claim settlement ratio
Rs 1 lakh to No limit
Annual Premium
3
Active plans
70 years
Solvency ratio
🛡️ IRDAI Approved
⭐ 4.6/5 · 925 reviews
✅ Minimum Age- 14 year claim settlement ratio
📊 70 years solvency ratio
🌐 Annual, half-yearly, pan-India

What you get with SBI ULIP Plans

The headline features and policy mechanics, at a glance.

Annual Premium Rs 1 lakh to No limit

Affordable premium options starting from entry-level to comprehensive whole-life protection.

Minimum Age- 14 year claim settlement ratio

Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.

70 years solvency ratio

Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.

3 active life plans

Choose from level cover, increasing cover, and return-of-premium variants.

Annual, half-yearly, pan-India presence

Branch offices and claim service centres across India for easy policy servicing.

SBI ULIP Plans: Overview

To cater to your wealth creation needs, SBI offers 8 ULIP plans. Unit Linked Insurance Plans are investment-cum-life insurance policies. They offer two-fold benefits: investment while the policyholder is alive, and post-death benefits to the nominee. Read along to explore more about SBI ULIP Plans.

SBI ULIP Plans ensure to look after your investment needs by offering:

  • Enjoy life cover along with investment
  • Option to choose from Multiple Funds
  • Systematic Monthly Withdrawal
  • Hassle-free investment management

Benefits of SBI ULIP Plans

There are multiple benefits of SBI ULIP Plans. Read below to understand the advantages provided by these plans.

Helps You Grow Your Money

SBI ULIP Plans help you grow your money over a period of time. If you invest in these plans, you can create a lump sum for your financial requirements.

Death Benefits

This plan comes with life coverage. In case of the policyholder's demise during the policy tenure, death benefits are paid to the nominee.

Option to Choose from Multiple Funds

You can choose from the multiple funds in which you want your money to be invested.

Systematic Monthly Withdrawal

This plan helps you create wealth with the flexibility of systematic monthly withdrawal.

Automatic Asset Allocation

Avail hassle-free investment management through automatic asset allocation.

Riders You Can Avail With SBI ULIP Plans

Name of the Rider Benefits
SBI Accidental Death Benefit Linked Rider

At the time of commencement of the insurance plan, you have the option to add the Accidental Death Benefit Linked Rider. Under this rider, the nominee will receive the rider sum assured in case of the life assured's death due to an accident.

Types of SBI ULIP Plans Plans

Every plan currently being sold by SBI ULIP Plans, shown side-by-side so you can shortlist quickly.

Most popular SBI Ulip Plans
SBI Saral Maha Anand

SBI Saral Maha Anand

SBI Life Saral Maha Anand is a unit-linked, non-participating life insurance product that offers growth opportunities through capital market participa...

Unique Features
  • Accidental Death Rider Benefits
  • Availability of 3 Fund Options
  • No medical Examination Required
Sum assured 10 × AP to 20 × AP
Entry age Minimum Age - 18 years Maximum Age - 55 years
View plan
SBI Ulip Plans
SBI Life Smart Wealth Builder

SBI Life Smart Wealth Builder

SBI Life Smart Wealth Builder is an individual, unit-linked, and non-participating life insurance plan. It offers a dual benefit of insurance and inve...

Unique Features
  • Guaranteed Bonus During Policy Term
  • Free Look Period of 15 Days
  • 1 Free Partial Withdrawal
Sum assured 10 X Annualized Premium
Entry age Minimum Age - 7 years Maximum Age - 55 years
View plan
SBI Ulip Plans
SBI Smart Elite Plan

SBI Smart Elite Plan

SBI Life Insurance Company offers a range of insurance products, including life, health, motor, and travel insurance. The SBI Life Smart Elite Plan is...

Unique Features
  • 9 Investment Fund Choices
  • Switching Option Available
  • Surrender Policy Anytime
Sum assured 105% of total premiums
Entry age Minimum Age - 18 years, Maximum Age - 60 years
View plan

Life Plans Comparison

Side-by-side across the 3 most-bought SBI ULIP Plans plans on PolicyX.

SBI ULIP Plans life plan comparison
Feature SBI Saral Maha Anand SBI Life Smart Wealth Builder SBI Smart Elite Plan
Plan type SBI Ulip Plans SBI Ulip Plans SBI Ulip Plans
Sum assured 10 × AP to 20 × AP 10 X Annualized Premium 105% of total premiums
Entry age Minimum Age - 18 years Maximum Age - 55 years Minimum Age - 7 years Maximum Age - 55 years Minimum Age - 18 years, Maximum Age - 60 years
Top benefits Guaranteed Additions of up to 30% · Requires no medical examination Death Benefits · Maturity Benefits 9 Investment Fund Choices · Switching Option Available

Documents required

For policy purchase and claim submission. Have these ready before you start.

Photo ID Proof

Age Proof

Address Proof

Medical Records

Income Proof

How to Buy a SBI ULIP Plans Plan?

Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.

  1. Visit the PolicyX.com website or the SBI ULIP Plans official website to compare and choose a suitable life plan.
  2. Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
  3. Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
  4. Fill in the proposal form with your contact details, nominee information, and medical history accurately.
  5. Upload the required documents: identity proof, address proof, income proof, and recent photographs.
  6. Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
  7. Complete the medical examination if required (depends on your age and sum assured).
  8. Receive your policy document via email and registered post after underwriting approval.
  1. Log in to the SBI ULIP Plans customer portal or the PolicyX.com dashboard before your policy renewal date.
  2. Review your existing policy details — coverage, premium amount, and nominee information.
  3. Choose to continue with the same plan or upgrade your sum assured if eligible.
  4. Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
  5. Download the renewed policy document from your registered email or the insurer portal.
  1. Step 1: Visit the official website of SBI Life Insurance Company. Step 2: Hover over 'Products', click on 'Individual plan', and choose the plan you want to buy.
  2. Step 3: Click on the 'buy now' button and fill in the required details. Step 4: Tap on 'Next' and select a plan as per your requirements. Step 5: Select the cover option you want and make your payment.
  3. Once the payment is made, you will receive a payment confirmation at your registered email address.

What's covered — and what's not

The standard inclusions and exclusions across SBI ULIP Plans plans. Specific plans may add benefits — always check the policy wording before purchase.

✗ Exclusions

  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive only the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

In conclusion, SBI ULIP Plans provide you with market-linked returns that help you grow your money over time. Before investing, you should understand the risk-return ratio associated with them. For more information related to SBI Life ULIP Plans, you can contact PolicyX.com 24/7. Our trusted insurance experts listen to your unique problems and suggest the best possible solutions for you.

Why Choose PolicyX.com?

Don't just take our word for it — check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti Varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

Frequently asked questions

The 10 most-asked questions about SBI ULIP Plans, answered.

In order to buy the plan, the minimum age eligibility is 30 days and maximum age eligibility is 55 years.
SBI Life Smart Wealth Assure has a single premium payment facility and the premium amount to be paid is Rs.50,000 onwards.
The policy term of SBI Life Smart Wealth Builder Plan is: For regular premium and limited premium payment- 10 Years, 15 Years to 30 Years For single premium payment - 5 Years to 30 Years
Accidental death rider and critical illness rider are available under the ULIPs.
SBI ULIPs offering an annual premium facility are: SBI Life Smart Wealth Builder SBI Life Smart Power Insurance SBI Life Smart Elite SBI Life Smart Privilege Plan SBI Life Saral Maha Anand SBI Life eWealth Insurance
No, partial liquidation of the fund is possible only after completion of the lock-in period.
To check the policy status of your SBI ULIP Plans, log in to the e-portal and enter your customer id, date of birth, and policy number, and the next page will show you all the details of your policy.
You can renew your SBI Life Ulip plan by paying the due premiums through one of the following ways: Through SMS Online Cash/Cheque
To cancel your SBI Life Insurance ULIP plan, you need to submit a duly filled surrender form along with the other required documents at your nearest SBI Branch. After verifying your documents, your policy will be canceled.
SBI Life Insurance offers 10 modes to pay your premium amount: Direct payment at SBI life Branch by Post or Courier Electronic Clearing Service (ECS) Direct debit Credit card Online payment Through mobile app Cash at an authorized center National Automated clearing house

Customer satisfaction

Aggregate ratings from 925 verified PolicyX customers who bought a SBI ULIP Plans plan.

4.6
out of 5
925 reviews
5 star
60%
4 star
25%
3 star
10%
2 star
4%
1 star
1%

Life Insurance Articles

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Himanshu Kumar — Term & Life Insurance Reviewed by Raj Kumar — Health Insurance
Last updated: 27 Dec 2024 · Originally published: 27 Dec 2024

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