SBI Life ULIP Plans

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*savings provided by insurer

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 Best  Ulip plans by SBI Life that are available to you for investing your money.

Regular Premium

  • SBI Life - eWealth Insurance: A non-participating online unit linked plan that provides you with two plan options to choose from. You get to enjoy hassle-free investment management through Automatic Asset Allocation and gain appreciative market-linked returns under this plan.
  • 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 Saral Maha Anand: A non medical investment cum insurance plan with a simple joining process.
  • 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.

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.


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.

Written By: PolicyBazaar - Updated: 16 January 2020
SBI Life ULIP Plans Reviews & Ratings
4.1 / 5 (Based on 25 Reviews)
(Showing Newest 15 reviews)
Pandavapura, March 20, 2019
Best insurance provider
Best buy and reliable. I recently got a life insurance for myself from SBI, which apparently is the most trusted life insurance available. I trust them when it comes to helping my family in case of any unfortunate incident. Also, my purchasing experience was made easy and swift, apart from the best deal given by Policybazaar.
Lauriya, September 23, 2016
Best Services
Sbi life insurance company provides best services. I purchased ulip insurance policy from them and the premium is normal but the staff of the company and customer support team available for 24X7. Policy coverage and claims are good.
Hapur, July 26, 2016
Satisfactory Policy
SBI life insurance of mine is ulip plan and policy status is great and very much beneficial after it get mature. The policy coverage and claims are high and claiming procedure is easy. The online service is also very nice and simple to access.
Pargaon, July 12, 2016
ULIP Policy
Ulip insurance plan is very unique policy, the one which i have is fabulous which has maximum benefits and all expenditures. Premium is little but the policy coverage and claims are huge. Service is nice which provided by the staff of the company.
Ahmednagar, June 29, 2016
Nice Insurance
The ulip insurance plan i have is okay insurance policy. The service is good and premium is low. Internet service provided by the company staff is fast and claiming get easy due to this. The documentations is hassle free now due to internet service which can be access by anyone.
Vaishali, April 21, 2016
Great Policy
I have ulip plan from sbi life insurance. The plan works for me very well. Policy coverage is also good approx. 87% with claiming amount of Rs.35 L. Service provided by you is awesome with fast interface. Good behaviour from executives and staff members. Good investment.
Darjeeling, April 21, 2016
Future Savings
My sbi life ulip plan is good. The service is bit slow. The policy coverage is 84% and claims are high but the investments are low. Service facilitate from executives and staff members are nice. Good future investment and saves tax too.
Karnal, April 21, 2016
Manageable Policy
I buy sbi life ulip plan. The policy premium is low and the paybacks are high. The policy coverage is 89% and the claims are high. Investment is 31 K per year and the returns are very high. Services you provided by the executives and staff members is good. This policy plan work's for me.
Sonipat, April 21, 2016
Above Average Plan
My sbi life ulip policy plan is nice which have low premiums and the paybacks are high. The policy coverage is good ~90% and the claims are approx. 1.5 times the amount invested. The services is good and on time till date provided by the members. Good future investment which save taxes too. Nice policy.
Ambala, April 21, 2016
Power Plan
I purchase ulip policy plan from max life insurance. The policy coverage is high ~91% and the claims are huge. The policy premiums are low ~38 K and the returning amount is 40 L. Services are good and on time too. Executives are doing there jobs very nicely. And the web services are also fantastic.
Jhansi, April 21, 2016
I Like The Policy
SBI life ulip plans are policy plan and they are fantastic in terms and conditions. The premiums are low, the policy coverage is high 88% and the claims are easily sanctioned. The services are really fast and the staff members are responding with good behaviour. There is an inbuilt accidental death benefit feature. I like my policy plan.
Ahmedabad, April 21, 2016
Try This One
I had ulip policy plan which i buy from sbi life insurance. The policy coverage is high 89% and the claims are good. The premiums are normal as the returns are huge with respect to investment. Policy plan which has fast service facilitate by company members. Responsive staff members on working hours. Full satisfied.
Haldwani, April 21, 2016
Okay Policy Plan
The policy coverage is 90%, The claims are high and the claiming is easy because of the executives and the staff members of the company. The services provided by you guys is very fast and on time. Good work guys on your sbi life ulip plans which i own. The premiums are less ~32 K and the returns are ~Rs.37 L.
Kolkata, April 21, 2016
Really Good
I purchase ulip policy plan from sbi life insurance. The policy coverage is high around 92% and the claims are huge. The policy premiums are low ~35 K and the recovery returning amount is 42 L. Services are good and on time too. Executives are doing there jobs very well and with nice behaviour too. And the web services are also fantastic. Superb future investment which reduces taxes.
Vellore, April 21, 2016
Better Plan
Recently find the great policy plan that is ulip insurance policy plan and buy one from sbi life insurance. The policy coverage is high ~86% with very low premium. The service of all staff of your company is great with nice response. The return payback amount is around Rs.32 L at end of the policy.
Shadnagar, April 21, 2016
Policy premiums are low and the claims are high. SBI life ulip plan facilitate the people provide good response. One of my friend introduced this company for insurance. Getting reminders regularly and sum assured is double. Accidental and risk coverage is there. Good service by executives.
Bhubaneshwar, April 21, 2016
The sbi life ulip plan policy i have and i'm really happy with it. The policy coverage is 82% and the claims are normal. Services are little bit slow provided by the staff members. Good future investment which saves tax also. Just improve the services and even the web services are better.
Chittaurgarh, April 21, 2016
My ulip policy plan is from sbi life insurance and the policy is the best because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high 85% and the premiums are low. Claims are 1.25 times of the investment. The service is fast and very quick. Great future investment with tax saving.
Sankeshwar, April 21, 2016
Very Nice
I have ulip plan from sbi life insurance. The plan works for me. Policy coverage is also good i.e., 90% with claiming amount of Rs.39 L. Service provided by you is awesome and fabulous with fast interface. Good future investment.
Sonali, April 21, 2016
I have sbi life ulip plan is really nice. It has good benefits and services. Policy coverage is 89% and claims are around Rs.40 L. Service is very good and fast that's why the work is done in very shot time period. Behaviour is also nice from staff members and executives.
Bengaluru, March 06, 2016
excellent guidence
Hi, I would like to thanks policy bazaar team for their help regarding my financial queries they guided me by clarifying all my queries & help me to invest my money in most beneficial way . Keep up the good work Policy bazaar team ?
Mumbai, February 27, 2016
I purchase ulip plan and policy is awesome with great benefits. Policy coverage is high. Claim is of Rs.22 L and the service is really good with polite behaviour. Great work sbi life insurance.
Plan Name: eWealth Insurance
Agent Code: BPW00249
Jaipur, February 05, 2016
"Good Benefits With Low Premiums"
I buy insurance plan with sbi life and the policy provides better service then others. The huge number of hospital are working with the company and provides good service with good care. The policy coverage and claims are high as compared to premium.
Plan Name: eWealth Insurance
Agent Code: BPW01312
Pune, 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
Mumbai, 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