Monday, December 12, 2011

SBI Life Insurance | Unit Plus Super Plan


SBI Life – Unit Plus Super is a flexible non participating Unit linked insurance Plan, specially designed to meet your changing requirements at various stages of life. With a wide array of funds, riders and other options, this product gives you the complete freedom to fulfill all your investment and insurance needs. And that’s not all; we now also offer you guaranteed additions and choice of payment options, giving you far superior value. 

Key Features:

  • Guaranteed Additions# of up to 75% of one annual regular premium on a regular premium policy, for a 30 year policy term, subject to the Policy being in force till the maturity date.
  • No Policy Administration fee for first 5 years for Regular and Limited Premium Paying Term (LPPT) plans, thereby boosting your fund value
  • No Premium Allocation Charge from 11th year onwards
  • Guaranteed Additions starting as early as 10th policy year onwards
  • Enhanced investment opportunity through 9 varied Fund Options including P/E Managed Fund, Index Fund & Top 300 Fund
  • Option to pay Regular/Limited/ Single Premium; Switch or Redirect your premiums
  • Flexible product with an option to increase/decrease your Sum Assured from 6th year onwards
  • Life Insurance coverage, with minimum Sum Assured, based on your age
  • Liquidity through Partial Withdrawals.
  • Option to customize the product with a wide range of riders: SBI Life – Criti Care 13 Rider (UIN: 111A018V01), SBI Life – Accidental Death Benefit Linked Rider (UIN: 111A019V01), SBI Life – Premium Payor Waiver Benefit Rider (UIN: 111A017V01) and SBI Life – Income Sustainer Rider (UIN: 111A020V01).


Maturity Benefit: On completion of Policy Term, Fund Value will be paid.

Death Benefit: Higher of the Fund Value or Sum Assured## is payable; with a minimum of 105% of total basic premiums paid## till the time of death.

Rider Benefits:

  • Criti Care 13 Rider: Provides lump sum amount to take care of 13 Critical Illnesses which include Cancer, Coronary Artery Bypass Graft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis 
  • Accidental Death Benefit Linked Rider: Provides additional death benefit if the death occurs as a result of an accident.
  • Premium Payor Waiver Benefit Rider: In the event of the death of the Proposer, the cover for the Life Assured under the base policy continues and the future premiums under the base policy, payable during the rider term, will be paid by the Company.
  • Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to Accident or Sickness, whichever is earlier. A 25% of income sustainer benefit sum assured is paid upfront and 1% of income sustainer benefit sum assured is paid monthly in arrears for 10 years or till the end of the base policy term (capped at a maximum of 30 years) whichever is higher.

You may download the official brochure of this plan from here.

Benefit Illustration: I've prepared the benefit illustration of this plan from the official website of SBI Life Insurance using following parameters.

Age: 35 years male, Premium: Rs.50,000 annually, Term: 20 years, Plan: Regular, S.A.M.F.: 10x. No riders chosen. You may download the file from here. The illustration also shows the amount of commission paid to agent every year.

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4.5 out of 5 stars Reviewer:adminFebruary 05, 2021