SBI Life Saral InsureWealth Plus (SIWP)

SBI Life Saral InsureWealth Plus (SIWP) is a comprehensive insurance and wealth-building investment plan designed to meet your financial goals with ease. This innovative plan from SBI Life seamlessly combines the benefits of life insurance with a strategic investment approach. This article will explore the unique features of Saral InsureWealth Plus and embark on a journey towards financial well-being today.

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  • 4.8 Rated
  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

ULIP Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80 C
  • Zero LTCG Tax
  • In built life cover

Top performing plans with High Returns**

Invest ₹10K/month & Get ₹1 Crore# returns

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7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #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.
Equity (Large, Mid Cap)
Balanced
Debt
Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
High Growth Fund
Fund Size: 8,243 Cr
8,243 Cr
120.7 -0.87%
31.47% Highest Returns
22.76%
19.3%
Get Details
Virtue II
Fund Size: 3,314 Cr
3,314 Cr
75.97 -0.30%
25.83% Highest Returns
18.88%
16.48%
Get Details
Accelerator Mid-Cap Fund II
Fund Size: 6,109 Cr
6,109 Cr
86.97 -0.35%
22.28% Highest Returns
14.15%
15.61%
Get Details
Opportunities Fund
Fund Size: 38,633 Cr
38,633 Cr
78.45 -0.37%
22.64% Highest Returns
14.94%
15.48%
Get Details
Pure Equity
Fund Size: 2,845 Cr
2,845 Cr
77.4 -0.20%
21.84% Highest Returns
15.69%
15.07%
Get Details
Large Cap Equity Fund
Fund Size: 2,694 Cr
2,694 Cr
73.45 -0.76%
21.82% Highest Returns
18.36%
14.88%
Get Details
Frontline Equity Fund
Fund Size: 4,097 Cr
4,097 Cr
71.42 -0.74%
20.86% Highest Returns
16.48%
14.8%
Get Details
Grow Money Plus Fund
Fund Size: 449 Cr
449 Cr
68.81 -0.16%
18.58% Highest Returns
15.45%
14.12%
Get Details
Pure Stock Fund
Fund Size: 7,090 Cr
7,090 Cr
156.55 -1.29%
20.53% Highest Returns
14.93%
14.04%
Get Details
Diversified Equity Fund
Fund Size: 3,495 Cr
3,495 Cr
41.57 -0.35%
17.79% Highest Returns
14.69%
13.96%
Get Details
Top 50 Fund
Fund Size: 329 Cr
329 Cr
96.04 -0.87%
19.67% Highest Returns
16.2%
13.6%
Get Details
Build India Fund
Fund Size: 41 Cr
41 Cr
61.56 -0.16%
17.54% Highest Returns
14.57%
13.57%
Get Details
Accelerator Fund
Fund Size: 235 Cr
235 Cr
48.6 -0.22%
19.75% Highest Returns
16.08%
13.1%
Get Details
Future Apex Fund
Fund Size: 91 Cr
91 Cr
56.25 -0.39%
19.85% Highest Returns
15.66%
13%
Get Details
Growth Super Fund
Fund Size: 14,072 Cr
14,072 Cr
83.76 -0.91%
17.5% Highest Returns
14.79%
12.83%
Get Details
Blue Chip Fund
Fund Size: 8,889 Cr
8,889 Cr
51.35 -0.46%
16.44% Highest Returns
13.76%
12.42%
Get Details
Equity Growth Fund II
Fund Size: 4,892 Cr
4,892 Cr
73.67 -0.64%
16.69% Highest Returns
13.68%
12.37%
Get Details
Maximiser
Fund Size: 3,081 Cr
3,081 Cr
68.5 -0.63%
17.23% Highest Returns
13.92%
12.3%
Get Details
Equity Fund
Fund Size: 75,921 Cr
75,921 Cr
208.22 -1.77%
16.53% Highest Returns
13.69%
12.1%
Get Details
Super 20
Fund Size: 2,101 Cr
2,101 Cr
66.03 -0.70%
15.99% Highest Returns
14.23%
12.02%
Get Details
Value & Momentum
Fund Size: 731 Cr
731 Cr
52.4 -0.36%
21.28% Highest Returns
11.45%
11.89%
Get Details
Bluechip Equity Fund
Fund Size: 1,034 Cr
1,034 Cr
45.14 -0.45%
17.89% Highest Returns
14.69%
11.86%
Get Details
Future Opportunity Fund
Fund Size: 69 Cr
69 Cr
43.39 -0.31%
18.55% Highest Returns
14.46%
11.82%
Get Details
Magnifier
Fund Size: 1,330 Cr
1,330 Cr
125.86 -0.92%
15.7% Highest Returns
12.7%
11.75%
Get Details
Equity Plus Fund
Fund Size: 1,199 Cr
1,199 Cr
33.24 -0.33%
16.51% Highest Returns
14%
11.41%
Get Details
Bluechip Fund
Fund Size: 4,574 Cr
4,574 Cr
46.04 -0.39%
15.89% Highest Returns
12.84%
11.33%
Get Details
Equity Large Cap Fund
Fund Size: 488 Cr
488 Cr
56.39 -0.49%
15.39% Highest Returns
11.98%
11.21%
Get Details
Maximiser Fund V
Fund Size: 56,150 Cr
56,150 Cr
53.72 -0.41%
16.88% Highest Returns
12.65%
10.86%
Get Details
Future Maximize Fund
Fund Size: 89 Cr
89 Cr
54.57 -0.35%
16.14% Highest Returns
12.92%
10.84%
Get Details
Growth Plus Fund
Fund Size: 555 Cr
555 Cr
36.76 -0.28%
13.89% Highest Returns
10.89%
10.36%
Get Details
Equity II Fund
Fund Size: 3,571 Cr
3,571 Cr
41.47 -0.37%
14.12% Highest Returns
11.05%
10.09%
Get Details
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Whole Life Aggressive Growth Fund
Fund Size: 843 Cr
843 Cr
94.39 -0.70%
19.93% Highest Returns
16.7%
14.91%
Get Details
Whole Life Stable Growth Fund
Fund Size: 268 Cr
268 Cr
62.47 -0.30%
15.46% Highest Returns
13.43%
12.08%
Get Details
Balanced Fund
Fund Size: 365 Cr
365 Cr
48.01 -0.28%
13.61% Highest Returns
11.66%
11.02%
Get Details
Balanced Pension
Fund Size: 559 Cr
559 Cr
71.06 -0.30%
12.32% Highest Returns
11.34%
10.7%
Get Details
Asset Allocation Fund II
Fund Size: 323 Cr
323 Cr
31.58 -0.24%
12.8% Highest Returns
10.72%
10.63%
Get Details
Balancer II
Fund Size: 863 Cr
863 Cr
39.32 -0.17%
13.08% Highest Returns
10.91%
9.96%
Get Details
Save N Grow Money Fund
Fund Size: 66 Cr
66 Cr
58.63 -0.11%
10.97% Highest Returns
10.22%
9.95%
Get Details
Creator
Fund Size: 523 Cr
523 Cr
100.22 -0.58%
11.45% Highest Returns
10.26%
9.9%
Get Details
Stable Fund
Fund Size: 20 Cr
20 Cr
34.88 -0.17%
12.47% Highest Returns
11.23%
9.75%
Get Details
Multi Cap Balanced Fund
Fund Size: 2,102 Cr
2,102 Cr
42.27 -0.20%
12.47% Highest Returns
9.55%
9.63%
Get Details
Pension Multi Cap Balanced Fund
Fund Size: 54 Cr
54 Cr
39.49 -0.19%
12.17% Highest Returns
9.22%
9.38%
Get Details
Managed Fund
Fund Size: 37 Cr
37 Cr
37.44 -0.13%
10.34% Highest Returns
9.03%
9.23%
Get Details
Balanced Plus Fund
Fund Size: 2,041 Cr
2,041 Cr
32.16 -0.17%
11.07% Highest Returns
9.19%
8.84%
Get Details
Future Balance Fund
Fund Size: 70 Cr
70 Cr
39.53 -0.17%
11.59% Highest Returns
9.7%
8.69%
Get Details
Enhancer
Fund Size: 5,852 Cr
5,852 Cr
104.99 -0.33%
9.03% Highest Returns
8.21%
8.31%
Get Details
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Builder
Fund Size: 237 Cr
237 Cr
90.36 -0.35%
8.21%
8.06%
8.45% Highest Returns
Get Details
Whole Life Income Fund
Fund Size: 811 Cr
811 Cr
38.64 -0.01%
6.99%
7.41%
7.84% Highest Returns
Get Details
Debt Fund
Fund Size: 478 Cr
478 Cr
36.64 -0.02%
7.02%
7.28%
7.63% Highest Returns
Get Details
Conservative Fund
Fund Size: 231 Cr
231 Cr
56.2 -0.10%
8.1% Highest Returns
7.47%
7.56%
Get Details
Protector
Fund Size: 299 Cr
299 Cr
64.86 -0.16%
7.03%
7.15%
7.54% Highest Returns
Get Details
Income Advantage
Fund Size: 895 Cr
895 Cr
40.02 -0.03%
6.72%
7.21%
7.52% Highest Returns
Get Details
Bond Pension
Fund Size: 461 Cr
461 Cr
42.23 -0.02%
6.32%
6.89%
7.47% Highest Returns
Get Details
Individual Preserver Pension Fund
Fund Size: 108 Cr
108 Cr
33.19 -0.01%
6.39%
6.94%
7.45% Highest Returns
Get Details
Secure Plus Fund
Fund Size: 242 Cr
242 Cr
32.08 -0.03%
7.17%
7.06%
7.45% Highest Returns
Get Details
Dynamic Gilt Fund
Fund Size: 204 Cr
204 Cr
45.53 -0.03%
6.25%
6.89%
7.44% Highest Returns
Get Details
Steady Money Fund
Fund Size: 76 Cr
76 Cr
38.88 -0.08%
6.28%
6.7%
7.35% Highest Returns
Get Details
Dynamic Bond Fund
Fund Size: 1,410 Cr
1,410 Cr
49.15 -0.03%
6.21%
6.78%
7.29% Highest Returns
Get Details
Bond Fund
Fund Size: 113 Cr
113 Cr
27.77 -0.01%
6.81%
6.75%
7.29% Highest Returns
Get Details
Pension Income Fund
Fund Size: 276 Cr
276 Cr
30.83 -0.01%
6.29%
6.88%
7.28% Highest Returns
Get Details
Secure Fund
Fund Size: 1,076 Cr
1,076 Cr
44.61 -0.02%
7.18% Highest Returns
6.65%
7.16%
Get Details
Income Fund
Fund Size: 8,364 Cr
8,364 Cr
30.81 -0.01%
6.02%
6.58%
7.16% Highest Returns
Get Details
Assure
Fund Size: 264 Cr
264 Cr
44.32 -0.01%
5.88%
6.47%
6.87% Highest Returns
Get Details
Preserver II
Fund Size: 74 Cr
74 Cr
28.18 -0.01%
6.34%
6.56%
6.81% Highest Returns
Get Details
Protector II
Fund Size: 719 Cr
719 Cr
28.7 -0.02%
6.46%
6.06%
6.63% Highest Returns
Get Details
Whole Life Short-Term Fixed Income Fund
Fund Size: 242 Cr
242 Cr
33.62 -0.01%
5.6%
6.2%
6.61% Highest Returns
Get Details
Future Income Fund
Fund Size: 80 Cr
80 Cr
35.94 -0.02%
5.4%
5.77%
6.46% Highest Returns
Get Details
Money Market Pension
Fund Size: 99 Cr
99 Cr
31.27 0.00%
5.16%
5.59%
6.25% Highest Returns
Get Details
Money Market Fund
Fund Size: 407 Cr
407 Cr
33.79 0.00%
5.17%
5.61%
6.24% Highest Returns
Get Details
Pension Money Market Fund
Fund Size: 55 Cr
55 Cr
26.87 0.00%
5.03%
5.5%
6.08% Highest Returns
Get Details
Liquid Plus
Fund Size: 223 Cr
223 Cr
22.23 0.00%
4.97%
5.52%
6.02% Highest Returns
Get Details
Dynamic Floating Rate Fund
Fund Size: 18 Cr
18 Cr
36.8 0.00%
4.83%
5.19%
5.82% Highest Returns
Get Details
Liquid Fund
Fund Size: 80 Cr
80 Cr
76.51 -0.02%
4.47%
4.82%
5.39% Highest Returns
Get Details
Safe Money Fund
Fund Size: 54 Cr
54 Cr
23.87 -0.01%
4.1%
4.49%
5.11% Highest Returns
Get Details
See more funds
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Grow Your Wealth!

Best ULIP Funds - Consider the best performing ULIP funds to invest in 2024 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categories

Data source : value research

Returns as on 06-12-2024. The returns are the returns of best-performing fund in the plan

Disclaimer :
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

About SBI Life Saral InsureWealth Plus Plan (SIWP)

The SBI Life Saral InsureWealth Plus Plan is an individual, unit-linked, non-participating Life Insurance product to aid your financial goals.

SBI Life offers the best investment plan that provides the features of both insurance and investments. SIWP is a monthly savings plan that allows you to build your savings systematically, navigating market fluctuations effectively.

This investment plan combines life insurance coverage with wealth creation through market-linked investments. The SBI Life Saral InsureWealth Plus Plan aims to provide financial security and the opportunity for wealth appreciation, which makes it a versatile option for individuals seeking both protection and investment growth.

Key Features of SBI Life Saral InsureWealth Plus Plan

The key features of the SBI Life Saral InsureWealth Plus Plan are as follows:

  • Easy Monthly Insurance for Dream Realization: Simplified monthly insurance for hassle-free planning towards achieving your dreams.

  • Choose from 8 Fund Options: Flexibility to select from a range of 8 fund options based on your risk appetite and financial goals.

  • Systematic Monthly Withdrawal for Regular Payouts: You can enjoy the convenience of a systematic monthly withdrawal feature for steady payouts, keeping your policy in force.

  • Fund Value Boosters with Loyalty Additions (from the 6th Policy Year): The plan also offers fund value boosters and loyalty additions, which enhance the policy's value starting from the 6th year of the policy.

  • Option of Partial Withdrawal (from the 6th Policy Year): You can exercise the option of partial withdrawal from the 6th year onward. This provides flexibility in managing your financial needs.

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Eligibility Criteria of SBI Life Saral InsureWealth Plus Plan

The following table mentions the eligibility criteria you need to fulfil to buy this best ULIP Plan in India 2024:

Eligibility Criteria Details
Entry Age 30 days – 55 years
Maturity Age 18 – 65 years
Type of Plan Regular Premium Pay 
Policy Term (PT)  10/ 15/ 20/ 25 years
Premium Payment Term (PPT) Equal to Policy Term (PT)
Premium Payment Frequency Every month
Minimum Premium Payment  Rs. 8,000 per month 
Maximum Premium Payment No Limit
Sum Assured (Basic SA) 10 × Annualised Premium
(maximum SA as per Board Approved Underwriting Policy)

Benefits of SBI Life Saral InsureWealth Plus Plan

The major benefits offered by SBI Life Saral InsureWealth Plus Plan are listed below:

  1. Death Benefit:

    The death benefits are provided to your beneficiary as per the following conditions:

    Entry Age Before Risk Commencement After Risk Commencement
    Below 8 years The insurance company pays Fund Value at death notification Death Benefit paid, considering age at entry (8 years and above)
    8+ years Higher of:
    • Fund Value
    • Basic Sum Assured – APW*
    • 105% of Premiums - APW
    --

    *APW: Applicable Partial Withdrawal

    IMPORTANT NOTE:

    • For minors, no immediate benefit to death.

    • The policy can continue with the new policyholder or surrender for surrender value.

  2. Maturity Benefit:

    • At maturity, you receive the fund value calculated at the prevailing NAV on the maturity date in a lump sum.

    • If the Life Assured is a minor, the policy automatically vests in them upon turning 18 years old.

  3. Loyalty Additions:

    • Loyalty Additions are rewarded to active policies from the 6th Policy year onward.

    • Your policy qualifies for Loyalty Additions if it is in force and all premiums are paid.

    • Loyalty additions are a percentage of the average fund value over the last 12 policy months.

    Last Day of nth Policy Year Loyalty Additions (% of Avg. Fund Value)
    1-5th policy year NIL
    6-10th policy year 0.2%
    11-25th policy year 0.3%
  4. Tax Benefits:

    • You can claim a deduction for the premiums paid under Section 80C of the Income Tax Act.

    • The maturity proceeds you receive upon policy completion are completely tax-free under Section 10(10D) of the Income Tax Act.

    • The death benefit received by your nominees is also tax-free under Section 10(10D) of the Income Tax Act.

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Policy Details of SBI Life Saral InsureWealth Plus Plan

The key features of the SBI Life Saral InsureWealth Plus ULIP plan are listed below:

  1. Settlement Option:

    • The nominee, beneficiary, or legal heir can choose to receive Death Benefits in instalments over 2 to 5 years.

    • Options include yearly, half-yearly, quarterly, or monthly payouts.

  2. Systematic Monthly Withdrawal (SMW):

    • You can withdraw money in a planned manner for regular expenses or fixed monthly payout.

    • SMW Amount Limit: Rs. 5,000 to 1.25% of Fund Value

    • Minimum SMW Duration: 6 months

    • You can set Start and End dates for SMW and modify the amount anytime with 3 months' notice.

    • If policy lapses, the SMW facility ceases after the grace period.

    • You can choose the SMW period within the policy term.

    • SMW stops on death intimation.

    • You can perform both partial withdrawal and SMW simultaneously.

  3. Fund Switching:

    • Switch funds anytime during the policy term and settlement period.

    • Make as many free switches as you want during the policy term and settlement period.

    • Start with a switch amount as low as Rs. 5,000.

    • Switch any amount or percentage between funds, with a minimum proportion of 1%.

  4. Premium Re-direction:

    • Redirect premiums for free starting from the 2nd policy month at any time during the policy term.

    • Modify future premium allocations by notifying SBI Life in writing two weeks before the relevant premium due date.

    • Re-direction applies only to future premiums and does not impact existing units.

  5. Partial Withdrawals:

    • Make partial withdrawals after the 5th policy year or at age 18, whichever is later.

    • A maximum of 4 partial withdrawals per policy year, with a total of 10 (for 10-year policies) or 15 (for policies over 10 years) allowed.

    • Minimum withdrawal: Rs. 5,000 (in multiples of ₹1,000).

    • Maximum withdrawal: Up to 15% of Fund Value as of the withdrawal request date.

    • One free withdrawal annually from the 6th to 10th policy year; additional withdrawals are chargeable.

    • Partial withdrawals after the 10th policy year are free of charge.

    • Rs. 100 per withdrawal (beyond the free one) during the 6-10 policy years, recovered by cancelling units.

    • Partial withdrawals are not allowed if the fund value falls below 50% of the total premiums paid.

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Working on SBI Life Saral InsureWealth Plus Plan

You can follow the steps mentioned below to learn the workings of the SBI Life Saral InsureWealth Plus Plan:

Step 1: Select Your Desired Policy Term:

  • Choose the duration for which you want to remain covered under the SBI Life Saral InsureWealth Plus Plan (SIWP).

Step 2: Determine Your Preferred Premium Amount:

  • Decide the amount you wish to pay as your premium for the selected policy term.

Step 3: Choose Your Fund Pattern:

  • Explore and select the fund pattern that aligns with your financial goals from a variety of fund options provided.

Step 4: Investment of Premiums in Chosen Fund Options:

  • Your paid premiums, after deducting Premium Allocation Charges and applicable taxes, are invested in the fund options you have chosen. This ensures your money is actively working towards your financial objectives.

Investment Fund†† Options Offered by SBI Life Saral InsureWealth Plus Plan††

SBI Life Saral InsureWealth Plus Plan offers 8 investment funds, which are as follows:

Fund Name Equity & Equity-Linked Assets Debt Instruments Money Market Instruments Risk Profile
Balanced Fund 40 – 60% 20 – 60% 0 – 40% Medium Risk
Bond Optimiser Fund 0 – 25% 75 – 100% 0 – 25% Low to Medium Risk
Corporate Bond Fund --
  • Corporate Bonds: 70 – 100%
  • Govt. Securities: 0 – 30%
0 – 30%  Low to Medium Risk
Discontinued Policy Fund -- Govt. Securities: 60% – 100% 0 – 40% Low Risk
Equity Fund 80 – 100% 0 – 20% 0 – 20% High Risk
Equity Optimiser Fund 60 – 100% 0 – 40% 0 – 40% High Risk
Growth Fund 40 – 90% 10 – 60% 0 – 40% Medium to High Risk
Midcap Fund 80 – 100% 0 – 20% 0 – 20% High Risk
Pure Fund 80 – 100% -- 0 – 20% High Risk

Disclaimer: †† Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Discontinued Policy Fund (General Fund):

  • This is a special segregated fund offered by the company.

  • Unlike other investment options, this fund is not available for direct selection by policyholders.

  • The fund aims for a relatively stable investment return.

  • Focuses on less volatile options, primarily through debt instruments and liquid assets.

  • Seeks income accumulation via investments in fixed-income securities and liquid assets.

  • Refund of discontinued policy proceeds occurs after completing the lock-in period or at the end of the revival period.

  • In applicable cases, the refund can also take place on the date of surrender.

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Charges under the SBI Life Saral InsureWealth Plan

The list of charges levied under the SBI Life Saral InsureWealth Plan is as follows:

List of Charges Details
Premium Allocation Charge Policy Year Premium Allocation Charge (in % of premium)
1st policy year 8%
2 – 5th policy year 5.50%
6 – 10th policy year 3.50%
11 – 25th policy year 3%
Policy Administration Charges
  • 1 – 5th Policy Year: NIL
  • 6 – 25th Policy Year: Rs. 150 per month (maximum Rs. 500 per month)
Fund Management Charges 0.50% p.a. to 1.35% p.a.
Discontinuance Charges NIL from the 5th policy year onwards
Mortality Charges
  • Age < 8 years: No mortality charges for the first 1 year and 11 months from the policy start date.
  • Age below 8 years (after the initial period) and age 8 years or older: Mortality charges apply.
Fund Switching Charges
  • Unlimited free switches
  • maximum Rs. 500 per switch
Premium Re-direction Charges
  • Allows unlimited free re-directions of premium 
  • maximum Rs. 500 per transaction
Partial Withdrawal Charges
  • Rs. 100 per partial withdrawal after 1st free partial withdrawal in every policy year
  • Chargeable by cancellation of investment fund units
  • Maximum Rs. 500 per transaction

Exclusions

Suicide Clause

If the policyholder passes away within 12 months of starting or reviving the SBI Life Saral InsureWealth Plus Plan, the nominee receives the fund value as of the date of death. Additionally, any charges, excluding FMC, incurred after the death will be reimbursed and added back to the fund value.

FAQ's

  • What will happen if I don't pay the SBI life insurance premium?

    The consequences of not paying your SBI life insurance premium depend on several factors, including:
    • Grace Period: Most SBI policies have a grace period (typically 15-30 days) after the due date, during which you can still pay the premium without any penalty.

    • Policy Lapse: If you don't pay within the grace period, your policy may lapse.

  • What is Sum assured in SBI Life Saral InsureWealth Plus life insurance?

    In the SBI Life Saral InsureWealth Plus life insurance plan, the Sum assured refers to the guaranteed death benefit that your beneficiaries will receive in case of your untimely demise during the policy term.
  • How can I get my SBI Life Saral InsureWealth Plus Fund Value?

    You have several options to access your SBI Life Saral InsureWealth Plus Fund Value:
    • Smart Care Portal

    • SBI Life NAV Snapshot

    • Refer to your original policy document

  • Can I pay the SBI Life Saral InsureWealth Plus life insurance premium after the due date?

    You can potentially pay your SBI Life Saral InsureWealth Plus life insurance premium after the due date, but there are consequences to consider:
    • SBI Life provides a 15-day grace period after the due date to pay your premium without any penalty.

    • If you miss the grace period, you'll be charged a late payment fee, which is a percentage of the overdue premium.

    • If you don't pay the premium within the grace period and also fail to pay the late payment fee within a specified timeframe (usually 30 days from the due date), your policy will lapse.

*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 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.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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