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SBI Life Smart Fortune Builder Plan
SBI Life Smart Fortune Builder is an individual, unit-linked, non-participating life insurance savings product that combines life coverage with market-linked investments across 12 fund options. It targets long-term goals while offering guaranteed additions for in-force policies.
- 4.8++ Rated
- 12.02 Crore Registered Consumer
- 51 Partners Insurance Partners
- 5.9 Crore Policies Sold
ULIP Plans
- Plan starting from ₹1,000/month
- Save upto ₹46,800 in Tax under section 80C^
- Zero LTCG Tax¶
- In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/month & Get ₹1 Crore# Tax-Free*
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SBI Life Ulip Plans
- SBI Life Smart Fortune Builder Plan
List of ULIP Funds ~
Fund Name
AUM
NAV
Returns (in %)
3 Year
5 Year
10 Year
Equity Fund
SBI Life
AUM:81,769 Cr
81,769 Cr
NAV
209.16
-1.34%
Returns
12.81%
Opportunities Fund
HDFC Life
AUM:36,958 Cr
36,958 Cr
NAV
78.68
-0.78%
Returns
18.01%
High Growth Fund
Axis Max Life
AUM:11,792 Cr
11,792 Cr
NAV
117.78
-1.21%
Returns
25.57%
Opportunities Fund
ICICI Prudential Life
AUM:3,553 Cr
3,553 Cr
NAV
62.13
-0.45%
Returns
15.86%
Multi Cap Fund
Tata AIA Life
AUM:9,302 Cr
9,302 Cr
NAV
65.06
-0.48%
Returns
19.08%
see more plans
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.in
What is the SBI Life Smart Fortune Builder Plan?
SBI Life Smart Fortune Builder is a unit-linked, non-participating life insurance savings plan that helps you grow your wealth while protecting your family with life cover. This ULIP plan is designed for long-term goals, such as children's higher education, marriage, home purchase, foreign travel, or retirement planning, with the investment risk borne by the policyholder.
Features of the SBI Life Smart Fortune Builder Plan
The following are some of the key features of the SBI Life Smart Fortune Builder Plan:
- This investment plan provides life insurance coverage throughout the policy term.
- Guaranteed additions at the end of the 10th policy year and every 5th year thereafter, scaling up to 150% of annualised premium for 30-year regular pay terms.
- An additional guaranteed addition on maturity based on the premium band (0-10% of annualised/single premium).
- No policy administration charge for the first 5 years in regular/limited pay. No premium allocation charge from the 11th year.
- Flexibility with switches, premium redirection from the 2nd year, and partial withdrawals from the 6th year.
Eligibility Criteria for SBI Life Smart Fortune Builder Plan
| Criteria | Details |
| Age at Entry | - Minimum: 2 years (for minors, maturity must ensure major age at payout);
- Maximum: 55 years. |
| Age at Maturity | - Minimum: 18 years; - Maximum: 70 years< |
| Plan Type | Regular Pay, Limited Pay, Single Pay |
| Premium Payment Term (PPT) & Policy Term (PT) | - Regular Pay: PT 15–30 yrs: PPT = PT - Limited Pay:
|
| Minimum Premium | - Regular Pay: ₹40,000 p.a. - Limited Pay: ₹50,000 p.a. - Single Pay: ₹65,000 (one-time) |
| Maximum Premium | ₹2,50,000 (subject to Board-approved underwriting) |
| Premium Frequency | Single / Yearly |
| Minimum Sum Assured | - Regular & Limited Pay: 10 × Annualized Premium - Single Pay: 1.25 × Single Premium |
| Rider Option | SBI Life Accident Benefit Rider- - Option A: Accidental Death Benefit (ADB) - Option B: Accidental Partial Permanent Disability (APPD) |
Guaranteed Additions under SBI Smart Fortune Builder Plan
This SBI Life ULIP Plan boosts your fund value with Guaranteed Additions for in-force policies:
- Periodic Additions: Credited at the end of the 10th year and every 5 years after, up to 50% for 30-year regular pay and up to 8% for single pay.
- Maturity Addition: On maturity, you get 0% for premiums under ₹1 lakh, 5% for ₹1–2 lakh, and 10% for ₹2 lakh or more.
These additions are calculated as a fixed percentage of your annualised premium (for Regular/Limited Pay) or single premium (for Single Pay), based on your premium payment term and policy term.
Benefits of SBI Life Smart Fortune Builder Plan
The key benefits offered by the SBI Life Smart Fortune Builder Plan are listed below:
- Death Benefit: If the life assured dies during the policy term while the policy is active, the nominee receives the highest of the fund value, the sum assured (after adjusting recent withdrawals), or 105% of total premiums paid, ensuring a minimum payout even in weak market conditions.
- Maturity Benefit:If the life assured survives till the end of the policy term, the full fund value on the maturity date is paid as a lump sum, and the brochure’s examples show how long-term investing can grow depending on market performance, though these returns are not guaranteed.
- Settlement Option: The nominee can choose to receive the death benefit in instalments over a settlement period of 2 to 5 years. The amount payable at death is invested in the same fund proportions that existed on the date of death, and the investment risk during this period is borne by the beneficiary.
- Switching Option: You can switch your investments across the 12 available funds anytime during the policy term and during the settlement period. The minimum switch amount is ₹5,000. Two switches per policy year are free, and each extra switch costs ₹100. Unused free switches cannot be carried forward.
- Rider Benefit (Accident Benefit Rider – Linked): You can add the Accident Benefit Rider to get extra protection through accidental death or disability coverage, with payout limits linked to the base sum assured and options for Accidental Death Benefit or Accidental Partial Permanent Disability.
- Premium Redirection Option: You can redirect future premiums into different funds from the 2nd policy year onwards. This facility is completely free of charge.
- Fund Choices: Being a ULIP, this plan allows you to choose from 12 different funds according to your risk appetite. You can invest in one or more funds in multiples of 1% and switch between them as your needs change.
- Investment & Liquidity Benefits: You can invest across 12 fund options, switch funds, redirect premiums, and make partial withdrawals from the 6th policy year or from age 18, with limits on the number and amount of withdrawals for safety.
- Partial Withdrawals: Partial withdrawals are allowed from the 6th policy year or after the life assured turns 18, whichever is later. One partial withdrawal per policy year is free, and additional withdrawals cost ₹100 each. Unused free withdrawals cannot be carried forward. You can make up to two partial withdrawals in a single policy year.
- Tax Benefits: Premiums and pay-outs may qualify for tax benefits under Section 80C and 10(10D) as per the prevailing income tax laws.
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns |
|
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹39.1 | ₹91 Cr | 5.26% | 6.95% | |
| Bandhan Life Secure Fund | ₹28.09 | ₹46 Cr | 5% | 4.76% | |
| Bandhan Life Blue Chip Equity Fund | ₹32.89 | ₹198 Cr | 16.09% | 13.12% | |
| Bandhan Life Stable Fund | ₹33.86 | ₹18 Cr | 9.87% | 10.01% | |
| Bandhan Life Accelerator Fund | ₹51.94 | ₹239 Cr | 17.97% | 14.79% | |
| Bandhan Life Opportunity Fund | ₹40.73 | ₹238 Cr | 22.98% | - | |
| Bandhan Life Pension Debt Fund | ₹31.08 | ₹4 Cr | 5.09% | 6.74% | |
| Bandhan Life Pension Enhanced Equity | ₹122.52 | ₹18 Cr | 18.84% | 14.84% | |
| Aegon Balanced | ₹47.27 | ₹12 Cr | 10.62% | 10.45% | |
| Aegon Enhanced Equity | ₹75.77 | ₹122 Cr | 18.59% | 14.62% | |
| Aegon Pension Balanced | ₹53.93 | ₹2 Cr | 11.37% | 10.9% | |
| Aegon Pension Index | ₹93.13 | ₹6 Cr | 13.7% | 12.79% | |
| Aegon Pension Secure | ₹28.19 | ₹1 Cr | 4.6% | 5.24% | |
| Aegon Life Group Equity Fund | ₹65.16 | ₹11 Cr | 19.81% | - | |
| Bandhan Life Flexi Cap Fund | ₹11.48 | ₹55 Cr | - | - |
Policy Details of SBI Life Smart Fortune Builder Plan
- Free Look Period: You get a 30-day free look period from the date you receive the policy document, whether physically or electronically. If you disagree with the policy terms and have made no claim, you may return the policy for cancellation by stating your reason.
- Grace Period: A grace period of 30 days is allowed for yearly premium payments. The policy stays active during this period, and applicable charges continue. If the life assured dies during the grace period, the death benefit payable under an in-force policy will be paid.
- Key Charges: Charges include premium allocation charges in early years, policy administration charges after the 5th year, fund management charges depending on the chosen fund, and small charges for switches, partial withdrawals, and discontinuance.
- Lock-in, Discontinuance & Revival: The policy has a 5-year lock-in, and if stopped early, the fund moves to a Discontinued Policy Fund that pays after the lock-in, while after the lock-in the policy becomes reduced paid-up unless revived within 3 years.
How Does the SBI Smart Fortune Builder Plan Work?
The following steps can help you understand the working of the SBI Life Smart Fortune Builder Plan:
- Choose plan type, term (15-30 years), premium, and fund allocation (e.g., 100% Bluechip).
- Pay premiums; net amount (post allocation charge) invests in funds, earning market returns.
- Receive guaranteed additions if the policy is in force. Access switches/partial withdrawals post lock-in.
- On maturity, you get Fund value payout; death: Higher of fund value/sum assured/105% premiums.
Suicide Exclusion Criteria
If the life assured dies by suicide within 12 months from the policy start date or from the date of revival, the insurer will pay only the fund value on the date the death is reported. The policy will end after this payout.
Any charges deducted after the date of death, except the fund management charge, are added back to the fund value before the final payment.
FAQs
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Is SBI Smart Fortune Builder a guaranteed return plan?
No. SBI Smart Fortune Builder is a ULIP, so returns depend on market performance, but it also gives guaranteed additions at specific milestones and on maturity to boost your fund value if the policy stays active. -
When can I make partial withdrawals?
You can make partial withdrawals from the 6th policy year or after the life assured turns 18, whichever is later, as long as the fund value does not fall below 50% of the total premiums paid. -
What happens if I stop paying premiums in the first 5 years?
If you stop paying premiums in the first 5 years, the policy is treated as discontinued and the fund value—after applying discontinuance charges—moves to the Discontinued Policy Fund, and is paid only after the 5-year lock-in ends. -
Can I change my fund allocation later?
Yes. You can switch between funds anytime during the policy term, with two free switches per year and a small charge for additional switches.
˜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
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Insurers Offering ULIPs
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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