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SBI Life eWealth Insurance Plan | SBI Life - Online ULIP
SBI Life eWealth is a non-participating online unit-linked insurance plan (ULIP). SBI
Life eWealth Insurance Plan provides you with the twin benefits of life
insurance cover and wealth creation. This plan allows you to avail market
linked returns, hassle-free, through its feature – Automatic Asset Allocation
(AAA). In this post, let us take a look at the features and benefits of SBI
Life eWealth Insurance Plan.
Key Features of SBI
Life eWealth Insurance Plan
1. Twin benefits of life insurance
cover and market linked returns.
2. Hassle free investment management through Automatic
Asset Allocation.
3. Two plan options - Growth and Balanced.
4. Easy and simple 3 step online buying process.
5. Nominal premium payments without any allocation
charge.
6. Partial withdrawals are allowed from 6th policy
year.
Advantages of SBI
Life eWealth Insurance Plan
1. Make sure your family is
financially independent in case of eventuality.
2. Your funds are automatically rebalanced to counter
market fluctuations.
3. Invest in the plan option of your choice as per
your risk profile.
4. Simple and hassle-free online buying process.
5. Market-linked returns for premiums as low as 1,000
per month without any allocation charges.
6. Freedom to make partial withdrawals to fund any
unexpected expenses.
7. Tax benefits are as per income tax laws and are subject to change from time to time.
7. Tax benefits are as per income tax laws and are subject to change from time to time.
Eligibility for SBI Life eWealth Insurance Plan
# Age on last birthday.
~ In case of monthly mode, 3
Months premium to be paid in advance. Renewal premium payment through ECS or
Standing Instructions (where payment is made either by direct debit of bank account or credit card).
Maturity Benefit under SBI Life eWealth Insurance Plan
On survival
of the life assured up to maturity, the Fund Value will be paid as a lump sum. Maturity
benefit is applicable only for in-force policies.
Death Benefit under SBI Life eWealth Insurance Plan
In the
event of the death of the policyholder, higher
of the Fund Value or Sum Assured or 105% of total premiums paid is payable to
the beneficiary. The death benefit is applicable
only for in-force policies.
How to
Buy SBI
Life eWealth Insurance Plan?
You can buy SBI Life eWealth Insurance Plan only via online
mode by logging into SBI Life Insurance website (www.sbilife.co.in).
Partial Withdrawals under SBI Life eWealth Insurance Plan
Partial
withdrawals under SBI Life eWealth Insurance Plan are available from 6th policy
year onwards provided the policy is in force. Only one free partial withdrawal and
maximum of 2 partial withdrawals are allowed in one policy year. More than 5 partial
withdrawals are not allowed in entire policy term, in case of policy term 10
years and 10 partial withdrawals for policy term above 10 years. Minimum partial
withdrawal is Rs.5,000 and maximum partial withdrawal is up to 15% of Fund
Value.
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read: HDFC Life Pension Guaranteed Plan
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read: LIC E-Term PLan | Features & Benefits
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SBI Life eWealth Insurance
Plan | SBI Life - Online ULIP
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