SBI Insurance company has been serving the finest insurance plans to us, be it life insurance, health insurance, motor insurance or travel insurance. SBI Life Insurance Company cares for you and your loved ones, so it has launched a new life insurance plan named SBI Life Smart Elite Plan.
The uncertainties of life motivate us to buy a life insurance policy. Life insurance provides a person with life coverage and his/her family with financial support in case of any mishap. The plan is one of the similar types. SBI Life has designed the Smart Elite policy for the individuals. It is a unit-linked and non-participating in nature.
SBI Smart Elite Policy brings you absolute returns as per its balanced fund feature. This ULIP has been crafted for HNIs (High Net Worth Individuals). It helps you increment your fund through market-linked returns. There are two plan options available under SBI Smart Elite Policy.
All the insured who fulfils the below-mentioned eligibility criteria can buy the plan. All that you have to do is finalize a fund and do your investments. The fund options have been mentioned further in the plan after the eligibility table.
|Entry Age||18 Years||For Limited Premium Payment Term: 55 years |
For Single Premium Payment: 60 years
|Maturity Age||Not mentioned||65 Years|
|Premium Amount||Yearly: Rs.1,50,000||No limit. Subject to policy underwriting.|
|Premium Payment Term||Plan Type||Policy Term||Premium Payment Term|
|Limited Premium Payment Term||10 Years - 30 Years||7 Years|
|12 Years - 30 Years||10 Years|
|15 Years - 30 Years||12 Years|
|Single-Premium||5 Years - 30 Years||One time payment at the time of policy inception.|
|Basic Sum Assured||Plan Type||Basic Sum Assured|
|Limited Premium Payment Term||10 x annualized premium|
|Single-Premium||1.25 x single premium|
|Plan Type||Limited Premium/ Single Premium|
|Premium Frequency||Single/ yearly/ half-yearly/ quarterly/ monthly|
SBI Life Insurance Company has always been renowned for offering a wide range of fund options under ULIP plans. The insurance company supports you in nurturing your dreams. So, SBI provides you with different fund options to invest and grow as per your financial requirements. Here we have mentioned all the 8 fund options available under the plan. You can choose one or a combination of plans as per your needs to make better investments.
Rider facility is not mandatory but necessary when you plan to buy an investment cum life protection plan. It provides you with extra coverage in case of any mishap like accidental death or permanent disability due to the accident. Here is mentioned two of the rider options available under SBI Smart Elite Plan.
NOTE:- Accidental death benefit rider and accidental permanent/ total death benefit rider are an integral part of SBI Life - Smart Elite Plan. When you buy the plan, you get the rider coverage automatically.
It is a normal human tendency to get confused while buying a product. The confusion is the hope to search for better and get the best of all. SBI Life Insurance Company provides its insured with the most refined facilities concerning insurance products; one of them is an online NAV calculator. The NAV calculator helps you calculate and compare the future fund’s benefits that you can cultivate after a longer policy term.
The calculator helps you get a rough idea of the long-term output of the fund. The calculations are done following the market risk factor. So, it can be trusted wholeheartedly.
The fund options provided under the plan are highly appreciated by the policy buyers. The wide range of coverage and online accessibility features of the plan like NAV calculator has attracted a huge number of buyers towards Smart Elite Plan. The integrated accidental and permanent/ total disability riders benefit have won the hearts of the insured. you get the rider benefit without any extra premium payment.
Balanced Fund is the low-risk fund in comparison to Equity Elite fund II. Equity Elite fund II is a high-risk fund. A detailed table of both the plans have been mentioned below for your better understanding:
The net asset value (NAV) can be calculated through NAV calculator available on SBI Life insurance official site.
The documents required to buy any of the funds under SBI Life Smart Elite Policy are:
For calculating your Net Asset Value (NAV), you can click on the given link (https://nav.sbilife.co.in/UI/ReturnCalculator.aspx) and follow the below-mentioned steps:
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Last updated on 07-02-2020