SBI Life Insurance Company offers a range of life insurance plans to customers. Unit-linked insurance plans are one such variant of the different types of plans offered by the company. These plans are investment oriented plans which aim to create wealth for the policyholder as well as give insurance cover. Let’s understand what unit-linked plans mean and the type of unit-linked plans offered by SBI Life Insurance –
Unit-linked insurance plans, or ULIPs in short, are life insurance plans which combine the dual benefits of investment returns as well as insurance coverage. The premiums paid towards the plan are invested in funds which, in turn, invest in market-linked securities. Policyholders can, therefore, enjoy returns linked to the growth of the capital market and also avail a life insurance coverage.
ULIPs are categorised by some salient features which also differentiate the plans from other life insurance policies. These features are as follows –
SBI Life Insurance Company offers the following types of ULIPs –
So, these are the ULIPs offered by SBI Life Insurance Company. Customers can choose any plan depending on their need and investment preference.
Premium redirection is the feature herein the policyholder can redirect future premiums to another fund or funds.
No, partial withdrawals are allowed only after the completion of the first five policy years.
Premiums can be paid throughout the policy tenure, for a limited period or at once depending on the unit-linked plan chosen. SBI Life’s unit-linked plans also allow different premium payment modes.
Unit-linked plans allow insurance coverage to the insured. For this coverage, a charge is deducted from the fund value which is called the mortality charge.
SBI Life ULIP Plans