SBI Life ULIP Plans

4 / 5 based on 2 User Reviews

SBI Life Ulip plans let are unit linked insurance plans which provide you with a wide array of funds, riders and other options, and give you the complete freedom to fulfill all your investment and insurance needs. There are 7 SBI Life ULIP plans that are available to you for investing your money.

Regular Premium

  • SBI Life Smart Performer: a Unit Linked, Non Participating insurance product that offers you the twin benefits of  the daily NAV Guarantee and the prospect of market upside.
  • SBI Life Unit Plus® Super: A ULIP policy that offers disciplined saving with high level of financial security for the family and gives you an enhanced investment opportunity through 9 varied Fund Options.
  • SBI Life Smart Elite: a limited premium unit linked life insurance plan that gives you two options such as Gold and Platinum with the freedom to stay invested for a longer term.
  • SBI Life Smart Scholar: An unit linked education plan that gives you comprehensive protection and enables you to secure your child’s future in case of an eventuality and secures your child’s future by gaining from the financial markets and much more.
  • SBI Life Smart Horizon: Is a unit linked plan with automatic asset allocation, giving you  higher returns on your funds invested in the plan.
  • SBI Life Smart Wealth Assure: A ulip policy that gives you an option to choose a mix of funds providing Guaranteed Return and Market Linked Returns

Comparison of SBI Life ULIP plans will help you to understand ULIP plans provided by SBI Life Insurance. Also, compare all SBI Life ulip plans and ulip plans provided by other life insurance companies in India online and buy the best ULIP policy that suits you. 

SBI Life ULIP Plans - FAQ

1. How to pay premium? What are the modes of payment available?

There are 10 modes to pay your SBI Life Insurance premium namely:

  • Direct Remittance At Sbi Life Branch By Post Or Courier
  • Electronic Clearing Service (ECS) – Mandate
  • Direct Debit
  • Standing Instruction On Your Credit Card
  • Online Payments
    • Through State Bank Group Atms
    • Payment Through Visa Bill Pay.Com
    • Online Payment Of Premium Through Sbi Life Website
  • Si-Eft For State Bank And Associate Banks’ Account Holders
  • Payment Through Point Of Sales (Pos) Terminals At Select Sbi Life Branches
  • Payment Through Easy Access Mobile Application
  • Pay Premium In Cash At Authorized Collection Centers
  • Nach (National Automated Clearing House)

NACH is a newly launched service that works on the same principle as that of ECS, which requires filling in a form and getting registered before availing this facility.

2. How can I check policy status for SBI Life ULIP plans?

For checking your policy status online, login to e-portal . You need to enter customer ID, date of Birth and policy number. The details of the policy along with the status is displayed on the next screen.

Alternatively avail the SMS facility if you are a registered user.

SMS POLVALUE <space>< policy number> and send it to 56161 or 9250001848.

3. What is the policy renewal process for SBI Life ULIP plans?

Renewal of policy can be done by the following modes:

  • Online
  • Through SMS
  • Through SBI Brach
  • By Cash

For renewal process, after login into your account, click on the ‘Renew Policy’ tab to proceed with premium payment.

If you want to get the renewal details by mobile,

SMS RENDET to 56161 or 9250001848.

Alternatively, you can renew the process by using the kiosk in the SBI ATM and select the option for renewal process.

4. What is the company’s process to settle claim for SBI Life ULIP plans?

The procedure for settling claim through SBI life Insurance requires intimating the nearest branch by submitting the list of documents as specified in the website. After the documents are verified, the claim is settled as soon as possible. In case one requires additional help or further clarifications, one can write to claims@sbilife[dot]co[dot]in

5. What is the policy cancellation process for SBI Life ULIP plans?

The policy cancellation process requires you to submit a duly filled surrender form along with relevant documents in the nearest SBI branch in your city. Upon receiving and verifying the documents, the policy is deemed cancelled as per bank accounts record. The premium refund is calculated on NAV value prevailing at the current market rate, if you submit the policy before 3:00 PM , else next day’s NAV value is applicable.

Reviews for SBI Life ULIP Plans

Gourav Dattalkar
February 05, 2016

"Good Plan"

Got life policy with sbi insurance. The policy is good with some fine terms. Policy coverage is 80%. The Claims are about Rs.29 lakh which can be easily done with taking some days. This is best plan i ever seen.
Plan Name: eWealth Insurance
Agent Code: BBE06002

Vinayak Mathakari
February 04, 2016

"Get More"

Recently find the great policy for health insurance and got one from SBI Life Insurance. Coverage is high with very low premium. The service of all staff is great with nice response. The return payback is around Rs 5 lakh at end of policy.
Plan Name: eWealth Insurance
Agent Code: BBE06002