SBI Life ULIP plans are Unit Linked Insurance Plans that combine the benefitsof life insurance protection with the potential for wealth creation through market-linked investments. These plans provide financial safety to your family and opportunities to grow your savings, ensuring your financial goals are achieved.
Returns as on 09-09-2026. The returns are the returns of best-performing fund in the plan
Disclaimer : ˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s
insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.inRead MoreRead Less
Key Features of SBI Life ULIP Plans
Double Benefits:
SBI Life ULIP Plans offer both life cover and investment opportunities. The life cover ensures your loved ones are protected financially, whether you are around or not. The investment component gives you wealth creation opportunities through market-linked returns.
5-Year Lock-in period:
ULIP Plans offer a 5-year lock-in period so that your long-term financial goals can be achieved at the right time.
Investment Flexibility:
You have the flexibility to choose your premium payment term and policy term as per your financial condition and future goals.
Loyalty Addition:
By staying invested for a longer period, the insurance company adds units, which are a certain percentage of your fund value, to your overall fund, leading to enhanced returns.
Maturity Benefits:
At the policy term end, the policyholder gets the accumulated fund value, including investment and the market-linked returns.
Why Invest in India Growth Story
Long-term investing is increasingly becoming part of household financial planning as more individuals look for ways to build wealth while staying financially protected. According to AMFI, monthly SIP contributions touched a record ₹26,632 crore in December 2024, reflecting growing preference for disciplined, market-linked investing over longer horizons.
At the same time, financial planning needs have moved beyond traditional savings to include wealth accumulation, family protection, retirement readiness, and milestone-based planning. Financial products that bring together investment exposure and life cover within a single structure have therefore gained wider relevance for long-term investors.
SBI Life ULIP plans align with this approach through features such as automatic asset allocation, guaranteed additions, loyalty additions, in-built accident benefits, and multiple fund choices.
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How Much Historical Returns are Provided by the Plans?
Investment Scenario
Monthly Investment:
₹22,000
Investment Duration:
18 years
Exit Timeline:
At Policy Maturity
Product Category:
Market-Linked ULIP Plans
Scenario 1:
Returns @ 4%
Plan name
Estimated Maturity Value
Assumed Return Rate
SBI Life Smart Privilege Plus
₹89.2 L
4%
SBI Life Smart Elite Plus
₹87.5 L
4%
SBI Life Smart Fortune Builder
₹84.8 L
4%
SBI Life eWealth Plus
₹82.9 L
4%
Scenario 2:
Returns @ 8%
Plan name
Estimated Maturity Value
Assumed Return Rate
SBI Life Smart Privilege Plus
₹1.65 Cr
8%
SBI Life Smart Elite Plus
₹1.60 Cr
8%
SBI Life Smart Fortune Builder
₹1.54 Cr
8%
SBI Life eWealth Plus
₹1.49 Cr
8%
Note: Since ULIPs are market-linked products, actual returns and maturity values may vary depending on fund performance, applicable charges, policy continuation, and market conditions.
Benefits of SBI Life ULIP Plans
Multiple Investment Approaches:
Select plans offer automatic asset allocation, growth strategies, active investing, self-managed allocation, and fund redirection features.
High Life Cover Flexibility:
The portfolio includes varying protection structures, flexible sum assured multiples, and life cover up to 10x annualised premium or higher in select variants.
Loyalty Additions and Guaranteed Additions:
Certain plans provide loyalty additions, guaranteed additions, and maturity-linked additions.
In-Built Accident Protection:
Select variants include in-built accident benefits covering accidental death and total permanent disability, without requiring a separate rider.
Broad Fund Choice with Switching Flexibility:
Depending on the plan, policyholders may access up to 12 investment funds across equity, debt, balanced, mid-cap, bluechip, and money market allocations, alongside switching and premium redirection flexibility.
Liquidity Through Partial Withdrawals:
Selected plans allow partial withdrawals after the lock-in period.
Flexible Premium Structures:
The portfolio includes single pay, limited pay, and regular pay variants.
List of SBI Life ULIP Plans
The list of HDFC ULIP Plans along with a brief description of each is mentioned below:
ULIP Plan
Entry Age
Maximum Maturity Age
Premium Payment Term (PPT)
Policy Term (PT)
Minimum Premium (in Rs.)
SBI Life Smart Elite Plus
18 years to 55/60 years (varies by pay type)
Up to 70 years
Single Pay / Limited Pay (7, 10, 12 years)
5 to 30 years
₹2.5 lakh onwards
View plan
SBI Life Smart Privilege Plus
8/13 years to 55 years (varies by pay type)
Up to 70 years
Single Pay / Limited Pay / Regular Pay
5 to 30 years
₹6 lakh annually / ₹6 lakh single premium onwards
SBI Life offers a wide range of ULIP plans to meet the diverse needs of its customers. Here are some popular ULIP plans offered by SBI Life.
SBI Life – eWealth Plus
SBI Life – eWealth Plus, an important product of SBI Life investment plans , is an individual, non-participating, unit-linked life insurance savings product that offers dual benefits of life cover and wealth expansion. It is an online-only plan that simplifies investment management for a hassle-free experience.
Key Features of SBI Life eWealth Plus
Strategy Flexibility:
Offers two strategies: a Growth Strategy with automatic asset allocation and an Active Strategy with a choice of 12 diverse fund options.
Affordability & Cost Efficiency:
Premiums start as low as ₹3,000 per month with no premium allocation charges, which helps maximise your investment potential.
Convenience:
The plan can be purchased online in just a 3-simple step process.
Liquidity:
Provides the option for partial withdrawals from the 6th policy year onwards to meet financial needs.
SBI Life - Smart Fortune Builder
SBI Life Smart Fortune Builder is a unit-linked insurance product that offers life coverage and wealth creation, along with a unique feature of Guaranteed Additions to boost your fund value over time. The plan ensures fulfilment of long-term financial goals like retirement or a child's education.
Key Features of SBI Life Smart Fortune Builder
Guaranteed Additions:
The plan provides guaranteed additions to the fund value at the end of the 10th policy year and every 5th year thereafter. A longer policy term results in higher additions, with a maximum of 150% of the annualised premium for a 30-year term.
Maturity Benefit:
Offers an additional Guaranteed Addition on maturity, further enhancing the final corpus.
Investment Flexibility:
Provides access to 12 varied fund options, allowing you to switch or redirect your investments to suit your risk appetite and changing market conditions.
Rider Option:
The plan can be customised with the SBI Life-Accident Benefit Rider, Linked for additional coverage.
Liquidity:
Partial withdrawals are allowed from the 6th policy year onwards.
SBI Life – Smart Elite Plus
SBI Life – Smart Elite Plus, a unit-linked insurance plan, is designed for individuals who seek greater flexibility and control over their investment portfolio. It is a limited and single-pay option, ideal for high-net-worth individuals who want to invest a significant amount at once or over a short period.
Key Features of SBI Life Smart Elite Plus
Protection Options:
The plan offers two options: a Gold Option and a Platinum Option, with an in-built Accidental Death and Accidental Total and Permanent Disability Benefit.
Premium Payment Options:
It provides the freedom to pay premiums for a limited term or as a single lump sum.
Investment Flexibility:
Allows you to invest in a wide range of funds and offers easy switching and redirection facilities to actively manage your portfolio.
Cost-Effective:
There are no premium allocation charges from the 6th policy year onwards.
SBI Life - Smart Privilege Plus
SBI Life – Smart Privilege Plus is an exclusive unit-linked plan for individuals who want both protection and a high degree of control over their investments. It offers unlimited free switches and loyalty additions to help policyholders grow their wealth without restriction.
Key Features of SBI Life Smart Privilege Plus
Unlimited Free Switches:
The plan allows for unlimited free switching and premium redirection among 12 diverse funds, giving you complete freedom to adapt your investment strategy to market trends.
Loyalty Additions:
The plan rewards long-term commitment with loyalty additions that begin from the end of the 6th policy year, boosting your fund value.
Flexible Premium Payment:
You can choose to pay premiums regularly, for a limited period, or as a single lump sum.
Rider Option:
Offers the SBI Life - Accident Benefit Rider - Linked for enhanced protection.
Why Buy an SBI Life ULIP Plans from Policybazaar?
Over 9 lakh customers have invested ₹12,400 Cr through Policybazaar
No hidden charges. All costs and returns are clearly disclosed
Certified advisors provide unbiased guidance based on your needs
IRDAI-regulated, ensuring advice is in the customer’s interest
SBI Life offers various ULIP plans to cater to diverse needs. Some popular categories include:
Savings-focused: Designed for long-term goals like retirement or a child's education plan.
Investment-focused: Offers higher potential returns through exposure to equity markets.
Protection-focused: Provides enhanced life cover with features like critical illness protection.
Child ULIPs: Specifically designed for child's education or future needs.
What are the benefits of investing in SBI Life ULIP plans?
Life insurance protection: Provides financial security for your family.
Investment potential:Grow your wealth through market-linked returns.
Flexibility: Choose your investment options, switch funds, and redirect premiums.
Tax benefits:Enjoy tax exemptions on premiums and maturity benefits under certain conditions.
What are some key features of SBI Life ULIP plans?
Multiple fund options:Invest in a range of equity and debt funds based on your risk appetite.
Unlimited free switches:Easily switch between funds to adapt to market trends.
Partial withdrawals:Access a portion of your invested funds after a certain period.
Loyalty additions:Receive bonus units after a certain policy year (in specific plans).
How do I choose the right SBI Life ULIP plan?
Consider your financial goals, risk tolerance, investment horizon, and premium budget. Analyze different plans, compare features, and consult a financial advisor for personalized guidance.
How to pay premium for SBI Life ULIP plans? What payment modes are 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.
How can I check policy status for SBI Life ULIP plans?
To check 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.
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 Branch
By Cash
For the renewal process, after login into your account, click on the ‘Renew Policy’ tab to proceed with premium payment.
Alternatively, you can renew the process by using the kiosk in the SBI ATM and selecting the option for renewal process.
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 to the nearest SBI branch in your city. Upon receiving and verifying the documents, the policy is deemed cancelled as per the bank account records. 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.
"I have traditional plan with sbi life insurance. Claim is around 19 lakh and policy coverage is 80%. The premium is low and the service is quick. Just improve some internet services. Overall, Fine policy.
Plan Name: eWealth Insurance
Agent Code: BBE04737"
AK
Amit
Delhi, January 16, 2025
Perfect Plan.
"I own sbi life insurance traditional plan. Policy coverage is good returns are better. Claims are high and premiums are low. Services are fast and on time. I must say power pack policy. I'm happy and fully satisfied with it.
Plan Name: eWealth Insurance
Agent Code: BPW00249"
UL
Umakant
Ludhiana, January 16, 2025
Perfect
"My sbi life traditional policy plan is good in services. The policy coverage is good ~89% and the premiums are low. Claiming process is easy due to fast service provided by the executives and the staff members. The payback amount is ~Rs.39 L. I like the terms and conditions of the policy plan.
"
TK
Tarun
Pune, January 16, 2025
Awesome
"I own sbi insurance traditional plan. Plan is good and premium is low. Policy coverage is high and payback returns too. Claiming amount is Rs.39 L. Service is fast like super sonic. The daily updates are mailed to me time to time. Overall, perfect policy plan."
BK
Bhupesh
Mumbai, January 16, 2025
Trustable
"Friend of mine shown me a very fine insurance policy, after seeing the great benefits of the plan i purchased the traditional insurance plan from sbi life insurance. Policy coverage is ~90% and the premium is less. Easy renewals through online portal service which can be handled by anyone."
KH
Kishore
Dalpur, January 16, 2025
Traditional Policy
"The sbi life provided me the best traditional insurance policy in very low premiums. The investment is low but the paybacks are high. Coverage is good and claims can be cleared easily by taking executives and staff members services."
SP
Shankar
Bengaluru, January 16, 2025
"Real Deal"
"Good policy from SBI insurance. Policy claim is high approx. 80%. The policy coverage is much with less premiums. The service is on time but bit slow. What else I need is fast and responsive on online and messages service.
Plan Name: eWealth Insurance
Agent Code: BBE06002
"
AS
Amit
Delhi, January 16, 2025
"Satisfactory"
"SBI life provide me insurance policy with fair benefits. The policy coverage is high with low premiums. The claims are Rs. 17 lakh at the end of policy. The service is fast and on time. Good policy then others.
Plan Name: eWealth Insurance
Agent Code: BBE06002"
GS
Gurpreet
Mohali, January 16, 2025
Great Policy
"The policy i have is sbi traditional policy plan which is very good and the premiums are low with high in policy coverage 91%. The claiming part is very easy because the service is very fast with good response from the staff members. Nice future investment with tax savings.
"
PN
Pratik
Gurgaon, January 16, 2025
"Best Plan"
"Sbi provide the policy which i needed. The plan consist all the features like good policy coverage, claim amount is high with low premiums. The service is the best, easliy done each and every work on call. Lucky to have this policy.
Plan Name: eWealth Insurance
Agent Code: BBE06002
"
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Tax benefit is subject to changes in tax laws
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds. The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
