#Virukipolicy | T&C*
SBI Life eWealth Insurance Plan is a non-participating unit-linked plan which offers good market-linked returns to the policyholders. There are two plan options under SBI Life eWealth Insurance Policy- the Growth Plan and Balanced Plan. In the Growth Plan, the equity exposure is higher during the initial years of the policy term. Whereas, the equity exposure under the Balanced Plan is lower in the initial policy term. The returns are as per the plan opted at the end of the policy tenure. One can buy the policy if s/he fulfils the eligibility criteria mentioned here.
|Entry Age||5 Years||50 Years|
|Premium Range (Yearly)||Rs. 24,000||No limit|
|Premium Payment Mode||Regular|
|Maturity Age||Up to 60 years|
The features of SBI Life eWealth Insurance Policy are:
The benefits provided under SBI Life eWealth Insurance Policy are:
Maturity Benefit: The policyholder can cherish the maturity benefit after completion of the policy term subject to the conditions that the policy is in force and all the policy premiums have been paid regularly.
Death Benefit: Under the death benefit, the beneficiary mentioned in the policy get higher of the following:
Tax Benefits: All the premiums paid under the SBI Life eWealth Insurance Policy are tax-free as per section 80C of the Income Tax Act, 1961. The maturity benefits provided to the policyholder and the death benefit offered to the beneficiary under the policy are also tax-free according to section 10 (10D) of the Income Tax Act, 1961.
Flexibility: You know your investment requirements better, so you are free to choose among the plan/fund options according to your risk appetite.
Affordability: SBI Life eWealth Insurance plan is available at affordable premiums. The starting premium under the plan is Rs.2000/- per month.
Liquidity: The liquidity of the amount is permissible under the plan after the completion of the lock-in period of 5 years.
In the case of insured's suicidal death within the 12 months from the inception/ revival date of the policy, the beneficiary is entitled to get the fund value available on the date of intimation of insured's death.
No, settlement option is not available under the SBI Life eWealth Insurance Policy.
The top-up facility is not allowed under the eWealth Insurance Plan.
The sum insured can not be increased or decreased under the eWealth Insurance Policy.
The premiums paid under the plan can not be redirected. It is finalized at the time of inception of the policy.
A maximum of 2 withdrawals can be made in a policy year under eWealth Insurance Policy.
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Last updated on 27-02-2020