SBI Life eWealth Insurance

About SBI Life eWealth Insurance

• It is a unit linked insurance  plan(ULIP )
• Only available online
• Withdrawals from 6^th policy year is allowed
• It has two fund options of investment i.e. Growth fund or balanced fund
• Premiums paid are of nominal value
• No fund allocation charge
• Automatic asset allocation technique ensures hassle free investment management

How does SBI Life- e wealth Insurance work?

Under this plan an individual decides among growth or balanced fund with a nominal premium paid for a policy term which is chosen between 10 to 20 years. From 6^th year onwards partial withdrawals are allowed and after the term is over, on maturity he receives the fund value. In-case on death of the insured during the policy term, his nominee receives a higher value from fund value or Sum assured.

Let us understand this by an illustration,

Consider,

Person’s age: 37 years
Policy term: 15 years
Premium paying term: 15 years
Sum assured: Rs 1lakh

A 37 years old person chooses a balanced fund to pay a regular annual premium of Rs 10000 for 15 years of policy term. After the policy term is over, on maturity he receives the fund value which is approximately Rs. 245,149. Suppose if in-case on death of the insured during the policy term, his nominee gets Rs 1lakh as the death benefit.

Why should you buy SBI Life e-wealth?

• This plan offers benefits of market related investments at nominal charge
• An individual can withdraw partial amount from 6^th year for any specific goals
• Low investment with high returns
• It offers tax benefits on all the premiums paid and claims received as per sections 80CCC and section 10(10A).

Who should buy SBI Life e-wealth?

• Individuals who are willing to bear the risks involved
• Individuals who want to diversify their investments
• Individuals who are looking out for monetary growth of their savings alog-with life cover

Claim Process 

Know Claim Process of SBI Life eWealth Insurance

Claim Process