SBI Life eWealth insurance is a typical UNIT linked plan from SBI Life but this time is the online unit link insurance policy from SBI Life. SBI Life has couple of ULIP plans in their kitty but non of them have the option to buy online. sbi life – ewealth insurance is the only policy which you can buy online and start getting dual benefit of life insurance and building wealth in long term.
In this article I will be sharing the complete review of sbi life – ewealth insurance plan, key features, benefits, survival benefits, death benefits, how to calculate premium, surrender rules, eligibility criteria, how to buy online and many more useful information at one place.
SBI life – ewealth insurance – features & benefits
This policy is targeting to give good return in long run as the experts are there to choose the best funds under sbi life – ewealth insurance plan. Besides that this policy will work on Automatic Asset Allocation or AAA mode where your investment will be exposed to high risk to get high return and then later on divert into debt investments to balance the return and make sure that get a better return in long run. Here is the key highlights of this policy.
As mentioned already, you can enjoy a hassle free investment management through Automatic Asset Allocation or AAA feature and stay relaxed for building wealth creation for long term.
- You will get 2 options to choose from – Growth and Balanced. The AAA feature will help you to balance your return in long term.
- You can start investing in this product for a minimum premium amount of Rs 10,000 for yearly mode and Rs. 1,000 for monthly mode.
- There is no premium allocation charges that means you will get good return on your investment.
- You can easily buy this policy online without the help of any insurance agent, just follow the 3 simple steps to get your SBI life online ulip plan.
- Partial withdrawal is allowed under this policy only after 6th policy year onward only.
- Get Sec 80C benefit on your premiums paid, as well as Sec 10(10D) benefit on the maturity amount, subject to conditions.
- You will get the accumulated fund value at the end of the policy term as maturity value.
- In case of unfortunate death, your nominee will get the higher of any of these 3 fund value or sum assured or 105% of paid premiums till date.
Eligibility of sbi life – ewealth insurance plan
|Age# at Entry||Min: 18 years
Max: 50 years
|Maximum Age# at Maturity||60 years|
|Policy Terms||10 to 20 years (both inclusive)|
|Premium Payment Frequency||Yearly & Monthly|
|Premium Payment Term||Same as Policy Term|
|Premium Range (X 100)||
|Sum Assured||10 x Annualized Premium|
How to buy sbi life – ewealth insurance plan Online
As this is an online insurance policy, that means you can easily buy this policy without the help of any insurance agent. Just follow the step by step guide to complete the purchase process.
- First of all you have to visit the link to click on Buy Now option.
- This will open the online purchase portal. There you will find a premium calculator will be available where you have to provide necessary details to find out how much premium you need to pay to get this policy.
- After that fill up the online application form carefully with all your personal information. Make sure you are not making any mistake here, ither it may trouble your family while claiming the policy benefit.
- After the pay the premium online and also upload the necessary documents with KYC documents and complete the purchase. You will get the policy documents by post after few days as per the terms.
So, SBI Life eWealth policy is nothing but a typical ulip plan only which I believe is comparatively better than other SBI life ulip plans as the option of buying online will help you to save money. Yes, the premium rate will be comparatively low and you can save good money in long run. As ULIP plans are linked with stock market, one can easily have experience of investing in stock with lower risk in proceeding years. But the initial days the risk on investment will be high as per the policy document. Share your feedback or experience here by writing a simple comment below.