SBI Smart Wealth Builder
  • Guaranteed Bonus During Policy Term
  • Free Look Period of 15 Days
  • 1 Free Partial Withdrawal
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SBI Life Smart Wealth Builder

SBI Life Smart Wealth Builder is an individual, unit-linked, and non-participating life insurance plan. It comes out with a dual benefit of insurance and investment. The plan offers a guaranteed bonus at different stages during the policy tenure. It is specifically designed for achieving life goals such as higher education for your children, marriage, buying a house, travel, etc.

With SBI Life Smart Wealth Builder one can build a financial corpus and can easily fulfil his/her long term financial goals. Continue reading to explore more about the plan.

How Does This Plan Work?

Understanding the workings of SBI Smart Wealth Builder is not a difficult task. Take a look below to get an insight of how the plan works, and how it can be beneficial for you.


Choose a policy term.


Decide the premium amount at your convenience.


Select the fund pattern from different fund options.


Invest premium allocation charges in a fund of your choice.

Let's understand this with the help of an example.

Mr. Shaam (age 35 years) is living happily with his family which includes his wife Seema and daughter Riya. He was looking for options through which he can build a corpus amount for Riya's education, her marriage, etc. He also wants to secure his family's future in case of any mishappenings. So, he decided to invest in SBI Life - Smart Wealth Builder with a policy tenure of 30 years and an annual premium payment of Rs 50,000 with Rs 5,00,000 as the sum assured.

  • Case 1: Maturity Benefit: In case of insured survival till the end of the policy tenure or maturity, the fund value will be paid in a lump sum. The maturity benefit can be taken in installments through the settlement option. There will be guaranteed additions at specific durations within the policy tenure that enhance the fund value.
  • Case 2: Death Benefit: In case of demise of the insured during the policy tenure, the higher of sum assured or fund value or 105% of the total premiums is payable. This plan provides financial security to the family.

Key Features of SBI Life Smart Wealth Builder

Before investing in any plan, it is important for you to know all the features of the plan. SBI Wealth Builder Plan offers a myriad of features to cater to multiple needs of the insured. Take a look at them:

  • The plan offers guaranteed additions on the basis of the Policy term. The payable of total guaranteed additions can go up to 125% of one regular premium.
  • It protects by offering life insurance coverage throughout the policy tenure.
  • In the case of Regular and Limited Premium Payment Term (LPPT) plans, no administration fees for the first 5 years are applicable.
  • The plans allow no premium allocation charge from the 11th year of policy onwards
  • Flexibility of choosing investment opportunities using 11 fund options.
  • The mortality charge will be deducted from the fund value on the first working day of every month that will be determined based on your age and associated risk.

Benefits of Smart Wealth Builder

Through wealth maximisation, SBI Life Smart Wealth Builder strives to meet the policyholder's every need. Take a look below to explore the benefits that SBI Wealth Builder Plan offers you:

1 Maturity Benefit

The plan offers fund value as a maturity benefit on reaching a vesting date. The fund value will be the total value of units held across all associated unit-linked funds.

2 Death Benefit

In case of death of the insured, the beneficiary will receive the fund value or sum assured as the death benefit. It will be around 105% of total basic premiums paid till the date of death.

3 Flexibility

The plan offers the opportunity under which the insured can increase or decrease the sum assured from the 6th policy year and onwards. There will be no premium allocation charge from the 11th policy year, no policy administration fees for the initial 5 years under regular & limited premium policies and it allows partial withdrawals from the 6th policy year onwards.

4 Free Look Period

The plan comes out with a free look period of 15 days. Under the same, if you wish to cancel or you are dissatisfied with the terms and conditions of the plan, the company can easily do it and get a refund.

5 Switching

Insured gets two free switches during the policy tenure.

6 Partial Withdrawal:

1 free partial withdrawal is allowed during the same policy year.

Fund Options

SBI Smart Wealth Builder plan offers enhanced investment opportunities through 11 varied Fund Options. Below mentioned are the the fund options available and a brief information about them:

Equity Fund

Fund offers high equity exposure by targeting higher returns in the long term.

Equity and its related instruments80%100%
Money Market Instruments0%20%
Debt Instruments0%20%

Top 300 Fund

Fund provides a capital appreciation for the long term by investing in 300 company's stocks on NSE i.e., National Stock Exchange.

Equity and its related instruments60%100%
Cash and Money Market Instruments0%40%

Equity Optimiser Fund

This fund provides equity exposure by targeting higher returns through capital gains of the long term.

Equity and its related instruments60%100%
Money Market Instruments0%40%
Debt Instruments0%40%

Growth Fund

Long-term capital growth using investment majorly in equity or its related instruments. A small part is invested in debt or money markets.

Equity and its related instruments40%90%
Money Market Instruments0%40%
Debt Instruments10%60%

Balanced Fund

Income accumulation is provided through equities investment primarily through debt instruments. The income accumulation is done through fixed securities of income.

Equity and its related instruments40%60%
Money Market Instruments0%40%
Debt Instruments20%60%

Bond Fund

In this, the safe and less volatile investment option is provided through debt instruments and income accumulation using fixed income securities.

Money Market Instruments0%40%
Debt Instruments60%100%

Money Market Fund

It deploys the fund in liquid and safe instruments on a temporary basis to avoid market fluctuations.

Money Market Instruments80%100%
Debt Instruments0%20%

Bond Optimiser Fund

Fund helps earn returns higher than a pure fixed income.

Equity and its related instruments0%25%
Money Market Instruments0%25%
Debt Instruments75%100%

Pure Fund

Fund aims to provide high equity targeting higher returns for the long term. The fund invests in equities other than banks, financial institutions, entertainment, hotels, gambling, contests, leather, animal products and breweries, distilleries.

Equity and its related instruments80%100%
Money Market Instruments0%20%

Midcap Fund

It provides high equity exposure targeting higher returns for the long term by investing majorly in Midcap companies.

Equity and its related instruments80%100%
Money Market Instruments0%20%
Debt Instruments0%20%

Corporate Bond Fund

Provides steady income for the insured person by investing in debt instruments and standardized returns.

Government Bonds70%100%
Government Securities0%30%
Money Market Instruments0%30%


Entry Age7 years55 years
Maturity Age18 years70 years
Plan TypeRegular Premium/ Limited Premium/ Single Premium
Premium Payment TermPlan TypePolicy Term (Years)Premium Payment Term (Years)
Regular Premium12 to 30Same as policy term
Limited Premium Payment Term (LPPT)12 to 14, 15 to 19, 20 to 307, 7/10/12, 7/10/12/15
Single-Premium5 to 30 yearsAt the inception of the policy, One Time Payment is available
Premium FrequencySingle/Annual

Sample Premium Rates

To understand the SBI Smart Wealth Builder Plan Calculation of premium, we at have presented the premium illustration of the same. This graph illustrates the maturity benefit @4% and @8% by a healthy male of 35 and 40 years for a premium of Rs. 71,000, Sum assured 7,10,000, and policy term of 15 years. Assuming Equity Fund to be 100% for a regular premium.

Maturity Benefit of SBI Life Smart Wealth Builder

Maturity Benefit of SBI Life Smart Wealth Builder


If the life assured commits suicide within 1 year from the commencement date or revival date of the policy, then the policy shall be null and void. Fund value as per the date of death will be paid to the beneficiary.

SBI Smart Wealth Builder: FAQs

1. What is the Basic Sum Assured available under SBI Smart Wealth Builder plan?

The Basic Sum Assured available under SBI Life Smart Wealth Builder are mentioned below:

Plan Type
Regular Premium & Limited Premium Payment Term2 10 X Annualized Premium
Single Premium1.25 X Single Premium

2. Does SBI Smart Wealth Builder offer any rewards?

Yes, one can avail rewards for staying invested for longer policy tenure with Guaranteed Additions. For Regular & Limited Premium policies such guaranteed addition is a percentage of one annual premium. For Single Premium policies the guaranteed additions would be a fixed percentage of the single premium.

3. How many times can I switch between investment funds under SBI Wealth Builder Plan?

You can switch your investments among the available 11 funds as per your changing investment needs. There would be no extra charge up to the two switches, and after that, a charge of Rs. 100 will be levied per switch. The minimum switch amount would be 5K.

4. Am I eligible for any Tax Benefits under the Wealth Builder Plan?

The premiums paid by you are exempted as per the Income Tax Laws & are subject to change from time to time.

5. I bought SBI Wealth BUilder Plan 4 days ago. I am not happy with the terms & conditions of the plan, and want to cancel my policy. How can I do that?

If you are unhappy with the coverage or terms and conditions of the policy, SBI life insurance allows you to cancel it within 15 days of receiving the policy documents, as long as no claim has been filed.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (43 Total Rating)

March 28, 2024

Sneha Nath


I would like to inform you that my maturity claims have been settled by SBI Life Insurance on 04.15.2024 and thanks all of you for helping me throughout the claim process.

March 18, 2024

kartik saxena


I had to add some riders to my Sbi life insurance, team helps to me to understand which rider is more important and which is not. Resulting helps me to save lots of money. Happy with the services.

February 16, 2024

Rakesh kumar


Great service! Quick claim processing for my sbi life insurance, Highly recommend for reliable insurance coverage at competitive rates.

January 25, 2024

Priyanshu raghav


I wanted a term insurance plan that was not too expensive, and gave me just that. The website let me compare quotes from different companies, so I found a plan that fits my budget.

October 4, 2023

Vidyut Sharma


Thanks to, I found an affordable SBI Term Insurance policy that fits my family s needs perfectly. The platform is easy to navigate, and their customer support is top-notch. Highly recommended for insurance shopping!

Last updated on 16-07-2021

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