SBI Life Smart InsureWealth Plus

SBI Life Smart InsureWealth Plus is an individual, unit-linked, non-participating life insurance product that provides life insurance cover along with the potential for market-linked returns. It is a good option for people who are looking for a long-term investment option that also provides life insurance protection.

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6.7 Crore
Registered Consumers
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Insurance Partners
3.4 Crore
Policies Sold
Large Cap
Mid Cap
Balanced
Debt
Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Top 200 Fund
Fund Size: 1,663 Cr
1,663 Cr
152.36 1.11%
26.54% Highest Returns
21.71%
20.86%
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Virtue II
Fund Size: 2,894 Cr
2,894 Cr
66.72 0.60%
22.69% Highest Returns
19.01%
18.63%
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Pure Equity
Fund Size: 2,337 Cr
2,337 Cr
68.4 0.76%
18.83% Highest Returns
15.54%
17.7%
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Growth Opportunities Plus Fund
Fund Size: 961 Cr
961 Cr
65.74 0.50%
18.63% Highest Returns
16.39%
17.36%
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Pure Stock Fund
Fund Size: 6,464 Cr
6,464 Cr
138.94 1.24%
17.33% Highest Returns
15.03%
17.09%
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Large Cap Equity Fund
Fund Size: 2,544 Cr
2,544 Cr
65.98 0.73%
20.37% Highest Returns
18.21%
16.73%
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Super Select Equity Fund
Fund Size: 1,245 Cr
1,245 Cr
69.86 0.62%
16.75% Highest Returns
14.37%
16.6%
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Grow Money Plus Fund
Fund Size: 425 Cr
425 Cr
62.52 0.51%
17.47% Highest Returns
16.1%
16.48%
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Frontline Equity Fund
Fund Size: 3,212 Cr
3,212 Cr
60.3 0.68%
17.91% Highest Returns
15.42%
16.26%
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Build India Fund
Fund Size: 39 Cr
39 Cr
56.09 0.49%
16.39% Highest Returns
15.14%
16.11%
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Whole Life Aggressive Growth Fund
Fund Size: 755 Cr
755 Cr
80.53 0.40%
17.7% Highest Returns
15.75%
15.98%
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Equity Top 250 Fund
Fund Size: 551 Cr
551 Cr
53.67 0.39%
15.5% Highest Returns
13.19%
15.14%
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Top 50 Fund
Fund Size: 274 Cr
274 Cr
86.18 0.91%
17.58% Highest Returns
16.26%
15.09%
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Accelerator Fund
Fund Size: 230 Cr
230 Cr
43.42 0.40%
17.88% Highest Returns
15.71%
14.87%
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Equity Growth Fund II
Fund Size: 4,836 Cr
4,836 Cr
66.38 0.62%
14.64%
13.83%
14.83% Highest Returns
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Future Apex Fund
Fund Size: 83 Cr
83 Cr
50.43 0.47%
17.54% Highest Returns
15.04%
14.64%
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Blue Chip Fund
Fund Size: 8,677 Cr
8,677 Cr
45.77 0.42%
14.59% Highest Returns
13.69%
14.41%
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Growth Super Fund
Fund Size: 13,759 Cr
13,759 Cr
73.45 0.79%
15.13% Highest Returns
14.49%
14.21%
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Maximiser
Fund Size: 2,892 Cr
2,892 Cr
61.04 0.74%
15.22% Highest Returns
13.95%
14.1%
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Enhancer Fund-II
Fund Size: 898 Cr
898 Cr
51.26 0.52%
14.4% Highest Returns
13.49%
13.74%
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Multi Cap Growth Fund
Fund Size: 19,082 Cr
19,082 Cr
48.06 0.35%
13.44%
11.12%
13.72% Highest Returns
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Equity Fund
Fund Size: 66,368 Cr
66,368 Cr
183.02 1.68%
14.54% Highest Returns
13.41%
13.61%
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Value & Momentum
Fund Size: 664 Cr
664 Cr
42.81 0.69%
14.48% Highest Returns
9.14%
13.43%
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Equity Large Cap Fund
Fund Size: 493 Cr
493 Cr
51.54 0.52%
13.79% Highest Returns
12.31%
13.42%
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Bluechip Equity Fund
Fund Size: 1,074 Cr
1,074 Cr
40.87 0.46%
15.95% Highest Returns
14.69%
13.27%
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Future Opportunity Fund
Fund Size: 71 Cr
71 Cr
38.83 0.37%
16.02% Highest Returns
13.8%
13.27%
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Bluechip Fund
Fund Size: 4,390 Cr
4,390 Cr
41.7 0.38%
14.13% Highest Returns
12.81%
13.22%
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Super 20
Fund Size: 1,956 Cr
1,956 Cr
58.59 0.60%
14.53% Highest Returns
13.82%
13.21%
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Magnifier
Fund Size: 1,261 Cr
1,261 Cr
111.18 1.21%
13.56% Highest Returns
12.46%
13%
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Maximiser Fund V
Fund Size: 55,394 Cr
55,394 Cr
48.59 0.46%
14.4% Highest Returns
12.66%
12.75%
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Future Maximize Fund
Fund Size: 89 Cr
89 Cr
49.49 0.41%
14.36% Highest Returns
12.41%
12.3%
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Equity II Fund
Fund Size: 3,400 Cr
3,400 Cr
37.66 0.31%
12.24% Highest Returns
11.03%
11.85%
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Growth Plus Fund
Fund Size: 552 Cr
552 Cr
33.11 0.27%
12.26% Highest Returns
10.8%
11.69%
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Blue-Chip Equity Fund
Fund Size: 1,054 Cr
1,054 Cr
32.25 0.25%
12.24% Highest Returns
11.78%
11.54%
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Growth Fund
Fund Size: 8,706 Cr
8,706 Cr
98.25 0.68%
11.07% Highest Returns
10.21%
10.59%
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Whole Life Mid Cap Equity Fund
Fund Size: 11,380 Cr
11,380 Cr
130.89 0.55%
22.82% Highest Returns
17.54%
21.83%
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Midcap Fund
Fund Size: 1,340 Cr
1,340 Cr
83.83 0.46%
22.36% Highest Returns
16.52%
19.93%
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High Growth Fund
Fund Size: 5,651 Cr
5,651 Cr
96.53 0.73%
26.41% Highest Returns
20.95%
19.59%
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Multiplier
Fund Size: 4,058 Cr
4,058 Cr
84.42 1.28%
18.66%
15.48%
19.31% Highest Returns
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Accelerator Mid-Cap Fund II
Fund Size: 5,938 Cr
5,938 Cr
76.89 0.52%
18.17%
14.69%
18.75% Highest Returns
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Opportunities Fund
Fund Size: 35,583 Cr
35,583 Cr
67.61 0.36%
18.59% Highest Returns
14.61%
18.27%
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Classic Opportunities Fund
Fund Size: 12,743 Cr
12,743 Cr
61.19 0.63%
16.46% Highest Returns
14.01%
15.78%
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Flexi Cap
Fund Size: 1,350 Cr
1,350 Cr
49.49 0.50%
16.49% Highest Returns
14.53%
14.68%
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Opportunity Fund
Fund Size: 2,949 Cr
2,949 Cr
51.91 0.41%
15.65% Highest Returns
13.85%
14.61%
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Save N Grow Money Fund
Fund Size: 67 Cr
67 Cr
54.45 0.32%
10.75%
10.37%
11.39% Highest Returns
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Whole Life Stable Growth Fund
Fund Size: 241 Cr
241 Cr
55.25 0.25%
14.3% Highest Returns
12.62%
12.93%
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Balanced Fund
Fund Size: 344 Cr
344 Cr
42.84 0.35%
12.38% Highest Returns
11.08%
12.22%
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Balancer II
Fund Size: 836 Cr
836 Cr
36.13 0.25%
11.85% Highest Returns
10.72%
11.11%
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Creator
Fund Size: 523 Cr
523 Cr
91.65 0.50%
10.66%
10.01%
11.09% Highest Returns
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Stable Fund
Fund Size: 21 Cr
21 Cr
32.01 0.24%
11.76% Highest Returns
11.1%
10.93%
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Multi Cap Balanced Fund
Fund Size: 2,126 Cr
2,126 Cr
37.88 0.21%
10.53%
9.21%
10.84% Highest Returns
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Managed Fund
Fund Size: 41 Cr
41 Cr
34.67 0.15%
9.5%
8.84%
10.41% Highest Returns
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Balanced Plus Fund
Fund Size: 2,129 Cr
2,129 Cr
29.57 0.18%
10.23% Highest Returns
8.99%
9.95%
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Future Balance Fund
Fund Size: 70 Cr
70 Cr
36.26 0.24%
10.15% Highest Returns
9.21%
9.71%
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Balanced Fund-II
Fund Size: 141 Cr
141 Cr
32.87 0.19%
9.59%
8.71%
9.6% Highest Returns
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Enhancer
Fund Size: 6,003 Cr
6,003 Cr
97.65 0.26%
8.57%
8.06%
9.06% Highest Returns
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Cautious Asset Allocator Fund
Fund Size: 36 Cr
36 Cr
31.5 0.09%
6.77%
6.41%
7.54% Highest Returns
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Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
Pure Fund
Fund Size: 487 Cr
487 Cr
46.47 0.36%
16.5% Highest Returns
13.44%
16.15%
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Builder
Fund Size: 243 Cr
243 Cr
84.14 0.12%
8.11%
7.8%
9.26% Highest Returns
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Whole Life Income Fund
Fund Size: 777 Cr
777 Cr
36.27 0.11%
7.25%
7.05%
8.38% Highest Returns
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Debt Fund
Fund Size: 466 Cr
466 Cr
34.35 0.11%
7.44%
6.87%
8.17% Highest Returns
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Protector
Fund Size: 305 Cr
305 Cr
60.74 0.02%
7.03%
6.86%
8.16% Highest Returns
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Dynamic Gilt Fund
Fund Size: 202 Cr
202 Cr
42.61 0.18%
6.52%
6.54%
8.14% Highest Returns
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Income Advantage
Fund Size: 832 Cr
832 Cr
37.57 -0.05%
7.1%
6.88%
7.96% Highest Returns
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Steady Money Fund
Fund Size: 75 Cr
75 Cr
36.57 0.10%
6.58%
6.36%
7.91% Highest Returns
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Dynamic Bond Fund
Fund Size: 1,433 Cr
1,433 Cr
46.13 0.15%
6.64%
6.44%
7.89% Highest Returns
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Bond Fund
Fund Size: 22,648 Cr
22,648 Cr
44.61 0.14%
6.54%
6.22%
7.68% Highest Returns
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Income Fund
Fund Size: 9,030 Cr
9,030 Cr
29.08 0.07%
6.38%
6.33%
7.66% Highest Returns
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Secure Fund
Fund Size: 1,021 Cr
1,021 Cr
41.75 0.12%
6.57%
6.17%
7.61% Highest Returns
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Preserver II
Fund Size: 80 Cr
80 Cr
26.38 0.10%
6.42%
6.05%
7.3% Highest Returns
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Future Income Fund
Fund Size: 83 Cr
83 Cr
33.57 0.12%
5.53%
5.37%
7.05% Highest Returns
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Protector II
Fund Size: 774 Cr
774 Cr
26.9 0.09%
6.02%
5.62%
7.05% Highest Returns
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Assure
Fund Size: 279 Cr
279 Cr
42.25 -0.03%
6.15%
6.4%
6.99% Highest Returns
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Whole Life Short-Term Fixed Income Fund
Fund Size: 234 Cr
234 Cr
32.08 0.00%
5.79%
6.05%
6.78% Highest Returns
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Money Market Fund
Fund Size: 394 Cr
394 Cr
32.29 -0.01%
5.09%
5.52%
6.35% Highest Returns
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Bond Fund-II
Fund Size: 72 Cr
72 Cr
25.16 0.06%
4.78%
4.44%
6.3% Highest Returns
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Liquid Plus
Fund Size: 251 Cr
251 Cr
21.34 -0.01%
5%
5.49%
6.14% Highest Returns
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Dynamic Floating Rate Fund
Fund Size: 20 Cr
20 Cr
35.27 -0.01%
4.94%
5.16%
6.12% Highest Returns
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Liquid Fund
Fund Size: 72 Cr
72 Cr
73.51 -0.03%
4.39%
4.73%
5.54% Highest Returns
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Safe Money Fund
Fund Size: 57 Cr
57 Cr
23.01 0.00%
4.06%
4.45%
5.25% Highest Returns
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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 17-04-2024. The returns are the returns of best-performing fund in the plan

What are the Features of the SBI Life Smart InsureWealth Plus Plan?

Features of the plan are:

  • Easy Monthly Life Coverage: Enjoy hassle-free monthly insurance for life coverage.

  • Tailored Investment Strategies: Choose from 3 investment strategies – Trigger Strategy, Auto Asset Allocation Strategy, and Smart Choice Strategy, catering to your specific needs.

  • Diverse Fund Options: Opt for a Smart Choice Strategy with a selection of 9 fund options to align with your investment preferences.

  • Return of Mortality Charges (ROMC): Benefit from the return of mortality charges upon maturity of the in-force policy.

  • Fund Value Boosters: Policies in force from the 11th Policy Year receive loyalty additions, enhancing the fund value.

  • Flexible Withdrawal Options: Access partial withdrawal from the 6th Policy Year and systematic monthly withdrawal from the 11th Policy Year, provided the policy is in force.

  • Tax Advantages: Avail tax benefits in accordance with income tax laws, maximizing your savings.

Advantages:

  • Security: Provides financial protection for your family in case of unforeseen events.

  • Reliability: Maturity benefits include the return of mortality charges and assured loyalty additions from the 11th policy year onwards for in-force policies.

  • Flexibility: Offers a choice of 3 investment strategies and the option to switch among 9 funds under the Smart Choice strategy to suit your changing needs.

  • Liquidity: Allows for partial withdrawal and systematic monthly withdrawal to meet regular expenses, provided the policy is in force.

Invest more and Get more with ULIP Plan Invest more and Get more with ULIP Plan

What are the Benefits of SBI Life Smart InsureWealth Plus Plan?

Benefits of SBI Life - Smart InsureWealth Plus plan are:

  1. Maturity Benefit:

    • Lump sum payout of Fund Value at prevailing NAV on the maturity date.

    • Return of Mortality Charges (ROMC) included.

  2. Death Benefit:

    • For Life Assured below 8 years: Fund Value paid if death occurs before risk commencement, Death Benefit if after.

    • For Life Assured 8 years and above: Higher of Fund Value, Sum Assured less Applicable Partial Withdrawal (APW), or 105% of total premiums (less APW).

  3. Automatic Vesting for Minor Life Assured:

    Policy vests in the Life Assured on turning 18, ensuring continuity.

  4. Death of Policyholder with Minor Life Assured:

    • No immediate benefit, but the policy can be continued with a new Policyholder.

    • Surrender value payable if the policy is surrendered.

  5. Settlement Option:

    • The nominee/beneficiary/legal heir can choose to receive Death Benefit in instalments over 2 to 5 years.

    • Flexible payout frequency (yearly, half-yearly, quarterly, or monthly).

  6. Investment Risk during Settlement:

    During settlement, the beneficiary bears the investment risk in the portfolio.

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How Does the SBI Life Smart InsureWealth Plus Plan Work?

  • Select Your Coverage Duration: Determine the policy term that aligns with your coverage preferences.

  • Set Your Premium Amount: Decide on the premium you want to pay; the Sum Assured is automatically calculated as 10 times the Annualized Premium.

  • Opt for an Investment Strategy: Choose an investment strategy that suits your financial goals.

  • Tailor Your Fund Pattern: Select your fund pattern from a range of available options.

  • Investment Allocation: Your premiums, minus Premium Allocation Charges, are invested in the fund options of your choosing.

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Who Can Buy the SBI Life Smart InsureWealth Plus Plan?

Parameter Value
Age at Entry Minimum: 0 years (30 days) Maximum: 55 years
Age at Maturity Minimum: 18 years Maximum: 65 years
Plan Type Regular Premium
Policy Term (PT) 10,15, 20 and 25 years
Premium Payment Term (PPT) Same as Policy Term
Premium Frequency Monthly
Premium Amount Minimum: ₹4,000 No Limit
Basic Sum Assured Annualized Premium X 10

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Additional Features of the SBI Life Smart InsureWealth Plan

  1. Free Look Period:

    • Review policy terms within 15 days (30 days for electronic and distance marketing policies).

    • Option to return the policy for cancellation if disagreeing with terms.

  2. Grace Period and Discontinuance:

    • 15-day grace period for premium payment; policy remains in force during this period.

    • Discontinuance options within the first 5 policy years, with revival or surrender choices.

    • After 5 policy years, the policy converts to reduced paid-up status or can be revived within a 3-year revival period.

  3. Revival Options:

    • Revive the policy within 3 years from the first unpaid premium without interest or fee.

    • Revival is subject to underwriting acceptance and Board-approved policies.

  4. Surrender Policy:

    • Surrender at any time during the policy term.

    • No revival option after the surrender.

    • Fund value payable immediately after the surrender; policy terminates.

  5. Nomination and Assignment:

    Nomination and assignment follow the regulations outlined in the Insurance Act, 1938.

  6. Post-Discontinuance Fund Handling:

    • Communication of policy status within 3 months of the first unpaid premium.

    • Options include revival, complete withdrawal, or continuation in reduced paid-up status.

  7. Post-Revival Handling:

    • Policy revival within the revival period, with applicable procedures.

    • If not revived, the fund value is paid at the end of the revival period or maturity date, whichever is earlier.

  8. Fund Value Monitoring:

    • Regular checks of fund value; termination if it falls below one annual premium.

    • Option to surrender the policy at any time; proceeds payable at the end of the lock-in period or surrender date.

  9. Post-Complete Withdrawal:

    • Immediate payment of fund value upon complete withdrawal during the revival period.

    • Policy continues in reduced paid-up status if no action is taken during the revival period.

  10. Policy Surrender After 5 Years:

    Immediate payment of fund value upon surrender after completing the first 5 policy years.

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Conclusion

SBI Life Smart InsureWealth Plus is a good option for people who are looking for a long-term investment option that also provides life insurance protection. Investors should carefully consider their risk appetite and investment goals before investing in the plan.

FAQ's

  • How does the investment part work?

    Your premiums are invested in unit-linked funds, with fund value fluctuating based on market performance. You can choose from three investment strategies.
  • Can I withdraw my money before maturity?

    Yes, from the 6th year onwards, you can opt for systematic withdrawals or partial withdrawals.
  • What are the benefits of Smart InsureWealth Plus?

    • Potential for high returns through market-linked investment

    • Life insurance cover for the chosen term

    • Tax benefits on premiums under Section 80C

    • Investment flexibility with three strategies

    • Option for systematic withdrawals

  • Are there any charges involved?

    Yes, there are charges like premium allocation, policy administration, and fund management fees.

*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.

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