Sbi life smart wealth builder is a unit linked insurance plan under the non-participating category. Since the premium is invested in capital market, the returns are higher and hence the plan is called smart wealth builder. The plan comes with the following features:

1. The feature "guaranteed additions" boosts the fund value and they're paid from the end of the 10^Th policy year at the rate of 5% which increases every 5 years.
2. From 6^Th policy year onwards, the sum assured can be increased or decreased.
3. After the policy ends, the fund value can be withdrawn in 5 equal monthly instalments over a period of 5 years
4. Income tax benefit can be availed for the premium paid on the policy