With the launch of Smart ULIP, now SBI Life Insurance too has joined the bandwagon of ULIP market. Similar players in the market include LIC jeevan Varsha, ICICI Return Guarantee Fund, IDBI Fortis Bondsurance and Birla Sun Life Platinum Plus. You can read my take on those policies by following the links mentioned for each of those. Now, here is a quick review of SBI life Smart ULIP.
As usual, first the good things about this product:
- The Smart ULIP product provides NAV guarantee that is the highest of 168 fortnightly NAVs during first seven years or NAV at maturity, whichever is higher.
- In case of the unfortunate event of the death of the insured during the policy term, the nominee receives the higher of fund value or sum assured.
- Shorter premium paying term (3 or 5 years).
- Tax benefit on both premiums [U/s 80C] and maturity amounts[U/s 10(10D)]
- Investment is managed by SBI Life – policy holder need not panic in volatile market
Now the bad:
- Short term – just 10 years!
- Too many charges
- Premium allocation charges : 15% in 1st yr, 5% for next 2-4 yrs for 3-5 yrs terms respectively.
- Admin charges – Rs 60/- per month for full term.
- For first three years, annual administration charges of Rs 5 per 1000 of sum assured.
- Fund management charge 1.5% pa. Fund management charge can be increased to 2.5% pa
- Mortality charge levied on 1st day of each policy month.
For more details on this product check the brochure and see the benefit illustration on their site.
Verdict:
This product may appear to be better than other ulip products in the market but not better than a combination of mutual funds with term insurance. I still suggest you folks not to combine insurance with investment. Invest of specific products for each purpose and reap the best benefits from each of those. I know many of you may not agree with me, again it boils down to individual requirement and the phase at which an individual looks at these products. Whatever the case may be, I welcome your comments and suggestions.
amol says
kindly enlighten me about this policy. And one more thing as I am taking SBI smart performer policy with the point of view of only investment, as it gives risk cover of 1.25 of premium. Is it a good option or any other policy is better than it?
Nandhu says
Hello Sir….
My sole interest to invest money is to get more return.
i recently heard about SBI LIFE SMART PERFORMER,
and if i invest 50K every year for 5 yrs … and if i wait for 10 years….
then will i get good returns…?
what is the meaning of highest NAV?
Can you explain me with one example?
Is there any other way of invest which will give more returns…..
Thank you…
Nandhu
Nandhu says
Hello Sir….
My sole interest to invest money is to get more return.
i recently heard about SBI LIFE SMART PERFORMER,
and if i invest 50K every year for 5 yrs … and if i wait for 10 years….
then will i get good returns…?
what is the meaning of highest NAV?
Can you explain me with one example?
Is there any other way of invest which will give more returns…..
Thank you…
Nandhu
ganoo says
hello sir….
iam going to invest in SBI LIFE SMART PERFORMER for 5 yrs(50k)…and i can wait for 10 years….then will i get good returns…?.. ……..if get….probably how much prcntge i wil take..
thanx,
ganu
Ajay says
@ Rajdeep [if he look at it]
kindly enlighten me about this policy.
And one more thing as I am taking SBI smart performer policy with the point of view of only investment, as it gives risk cover of 1.25 of premium.
Is it a good option or any other policy is better than it?
Ajay says
@ Rajdeep [if he look at it]
kindly enlighten me about this policy.
And one more thing as I am taking SBI smart performer policy with the point of view of only investment, as it gives risk cover of 1.25 of premium.
Is it a good option or any other policy is better than it?
Ajay says
Hello,
I am Going to invest in SBI smart performer plan , with 60,000/ one time and as they have said 3% is allocation charge and fund is very good and they record nav Daily.
IS it True?
And they have said that todays NAV is around 9 rs sumthing, and will grow to 2.25 times in 5 year[as locking period is of 5 years] tahat means Nav will become sumthing between 20-22. Is this a true guess, as this guess is said on the basis of SBI’S last two “Highest NAV” policies.
gunendran says
Sir
What is the differance of SBI life flexiProtect IInd fund and SBI life money market fund? Can you explane it? And show me the NAV of this two funds of the day you replay me. Is it two SBI flexi Protect fund ?
thanking you
gunendran
gunendran says
Sir
What is the differance of SBI life flexiProtect IInd fund and SBI life money market fund? Can you explane it? And show me the NAV of this two funds of the day you replay me. Is it two SBI flexi Protect fund ?
thanking you
gunendran
Retheeshkumar says
Hi Sir,
I am a policy holder of SBI UNIT PLUS-II REGULAR Life Cover.I have been paying RS 34000 annualy for the last 3 year.When I checked the fund value as of today, it is showing that 102791.68. As you said, from an insurance angle this policy is really good but on an investment perspective, this is not really good as far as I am concerned.I would like to dis continue this policy and looking another options.Can you suggest some other alternative policy with a good investment option.?
Regards,
Retheeshkumar
Retheeshkumar says
Hi Sir,
I am a policy holder of SBI UNIT PLUS-II REGULAR Life Cover.I have been paying RS 34000 annualy for the last 3 year.When I checked the fund value as of today, it is showing that 102791.68. As you said, from an insurance angle this policy is really good but on an investment perspective, this is not really good as far as I am concerned.I would like to dis continue this policy and looking another options.Can you suggest some other alternative policy with a good investment option.?
Regards,
Retheeshkumar
subrahmanyam says
pl send sbi.smart .ulip.nav daily
rajesh Kumar says
You can see sbi.smart .ulip.nav daily on this website
subrahmanyam says
pl send sbi.smart .ulip.nav daily
Mohan says
Sorry, but you are at the wrong place for getting such daily updates.
Dr. Mohammed Shafiuddin says
You pl go the site and get the details.
rajesh Kumar says
You can see sbi.smart .ulip.nav daily on this website
A.Sivashankar says
I have taken SBI Life Unit plus II regular, as on today i have invested Rs.1,00,000.0 in last four year. At this position i came to know that my fund value is lower then i have paid. Plz advice me whether i can continue this or look for some other.
srinivasu says
ulips are designed for very long term benefits like tax free death/maturity or any partial withdrawals.First 3 policy years are by default meant for feeding the life insurance co agents,staff and companies expenditure.
but agents sell ulips as a short term investements.
so far life companies fund performance from 2001 to till date CAGR is 5 %only.
kindly visit the life co for taking any paid up decesson.
very few agents SURVIVE in this business, so as a customer we must understand the products and know how they work in future.
thanks for this service
lokesh says
gud eve sir , please guide me abt sbi smart performer planon regular terms .its advantges & drawbacks. is there any plan better than this . . .i am also looking for the tax benefits under section 80c…
lokesh says
gud eve sir , please guide me abt sbi smart performer planon regular terms .its advantges & drawbacks. is there any plan better than this . . .i am also looking for the tax benefits under section 80c…
sanjay bhattacharya says
I am a salaried person and willing to invest 20,000/- in infrastructure fund for getting additional benefit of tax rebate. Secondly I want to invest in mutual fund of sbi. Which fund gives more return?
narinder says
gud eve sir , please guide me abt sbi smart performer planon regular terms .its advantges & drawbacks. is there any plan better than this . . .
narinder says
gud eve sir , please guide me abt sbi smart performer planon regular terms .its advantges & drawbacks. is there any plan better than this . . .
Raja says
Which is the best ulip plan for a 32 year old male? If I want to invest money for invement purpose only – please also tell me the best mutual fund?
Raja says
Which is the best ulip plan for a 32 year old male? If I want to invest money for invement purpose only – please also tell me the best mutual fund?
muthukumar says
Dear sir,
I am Muthu, At present i am in the SBI Life unit plus 3. I am taken 100,000 per year i paid 50,000 for Quarterly 2times. But now i did’t get any Growth amount
Shrikant says
Dear all
I am sure that the SBI is taking the more charges for allocation.
If I want ot surrender the policy they will take min of 15 days to get your money back meanwhile you have to borrow the loan in urgency & pay for our own money.
So I suggest not to go for SBI
Dr.Mohammed Shafiuddin says
In 10 Years if one gets the double the amount then it is the greater plus.
Dr.Mohammed Shafiuddin says
In 10 Years if one gets the double the amount then it is the greater plus.
Indraraj says
Hi,
I need one suggestion. I am having a policy of Smart Ulip (series 2), in which I will be investing 50,000 each year till 3 years. As per the Insurance Advisor, I will get a return of 4,50,000.000 at end of 10 years. Is that possible or not? Kindly provide me further information, or else after 5 years i will surrender the same.
anurag rastogi says
hi i am amurag, i also take ulip plan 2nd per year 50000 but i not sure that sbi give me 450000 in after 10 yaer, i think this ulip plan have more charge on custmer. but i wiat 10 years, inderaraj
Ravi Joshi says
I gave check to SBI on 16th Sept 2010 for SBI smart performer. SBI gave NAV starting for 5th Oct 2010, it took them more than 21 days to make papers, the delay caused losses to me.
After many exchanges of email, there is no reply from SBI.
I advice all investors never invest in SBI and never come to trap
Dr.Mohammed Shafiuddin says
In our country it is common that at the time of launching every company highlights the good things only. But still I think this policy is good and I advise to keep it.
sarvjeet says
sir
I have registered querry about total no. of units and fund value. Now i want to know what sum i would get after 7years. As i invest 5000/m for 3year in SMART ULIP Plan.
Sabby Batra says
What do you suggest for HDFC Standard Youngstar Plan II , i have started the policy at Sep 2010 , it has grown 7000 approx in a year should i continue till maturity or withhdraw at 2012 due to DTC slab .Kindly advice.
Rakesh Arora says
Its fact that SBI persons are hiding the charges while discussing about this policy.
Secondly, i want to know how much share of money is invested in market and how much in flexi protect fund. The return on first one is good but second one is bit slow.
Karthik says
Hi Sri,
i am new to this investment and got a job right now…i am in search of investment plans and also some tax asving .can u suggest some good ways of investment.for ur blog i understood not to combine investment and insurance.
m.v.ramana says
what is the Daily Protect Fund and index fund
Animesh says
Sir in the yr 2006 october i invested 3 lakh in the equity fund of sbi ulip – II. the maturity dt is oct 2012.what will be the minimum maturity amount? i’m really worried.presently i’m in loss.
Surendra Pal Solanki says
sir i opened sbilife smart ulip policy on 17 nov 2009 i want current NAV rate and how can operate service customer website and how can generate password any etc thanks
rakesh vashist says
sir i want to track the NAV of sbi smart ulip-ii. what is the proceedure.
vignesh says
hi mohan,
first i thank to u for creating tis informative blog ,here i came with one query about SBI life Unit plus 2 regular plan 0 fixed,(product & plan),i have paid 25,000 per yr for about 3 yrs ,now the agent saying to continue about 2 yrs to double the money,but i want to quit the plan due to some personal prob,can i get the money without any loss of invested money? and want to know the loss and growth of this plans? i m new to this ,explain it briefly!!!1
Satyapal Singh says
Hi
i bought sbi smart ulip from jan 2010 at the Rs 50,000/ pa for 3 years .i want to stop and get back my money.howmuch money will get after deduction as on date .pls suggest may i in or out with loss/benefit.
waiting for reply.
Rajdeep Konwar says
Mr Singh
First i want2 know why u want to stop ur policy.Smart ulip was a very good policy.If any one tell u that smart ulip is a bad policy.kindly ignore that person.i want2 say u somethink. from when this policy was launce the mutual fund business was badly efected.So they r against this policy.Some time u see on TV chenels and magazines the few people are telling against the ULIPs.I want 2 clear u that they are related from MF or treding.so they are against the ULIPs.
If u want to stop this policy now. u will get ur FV after 5th year and u will get only ur 1st year FV.so pls don’t close this policy.it s a very good policy.Don’t beleive any discussin from TV or magazines.because they are related from MF or treding.The new hight nav guarantee policy is launce by SBI LIFE call smart perfomer.
Introduction:
The equity market may have its ups and downs, but you now have a protective shield that will safeguard your investments, while providing upside potential. SBI Life brings you ’Smart Performer’, a unique Unit Linked, Non Participating insurance product that offers you the twin benefits of ’Higher than the Highest’ of the daily NAV Guarantee and the prospect of market upside. What’s more, it also allows you to protect your gains through Automatic Rebalancing facility and offers you a choice of Single and Limited Premium Payment options.
Key Features:
• Guarantee at maturity based on ’5% Higher than Highest Guaranteed NAV’ during the first seven years or prevailing NAV at Maturity, whichever is higher, subject to conditions#.
• Enjoy the best of both worlds – Guarantee only or Guarantee and Market Upside through our unique Plan offerings – ‘Secure Plan’ and ‘Secure N Grow Plan’ respectively
• ‘Automatic Rebalancing’ to Lock-in your gains
• Convenience through single premium (SP) or 5 year Premium Paying Term (PPT)
• Life Insurance coverage with minimum Sum Assured of 10 times or 7 times of your Annualised Premium (AP), based on your age.
• Liquidity through Partial Withdrawal(s)
• Option to customize the product with Accidental Death Benefit
• Attractive Tax benefits under the Income Tax Act, 1961, subject to conditions **
Product Snapshot
Age at Entry* Min: 9 years Max: 65years
Age at Maturity Max: 75 years
Premium Payment Term SP or 5 years
Minimum Limited Premium Amounts (X 100)
Minimum Single Premium (X 100)
Maximum Limited/Single Premium Amounts
Yearly Rs 50,000
Half-yearly Rs 44,000
Quarterly Rs 36,000
Monthly Rs 20,000
Rs 60,000
No limits
Policy Term 10 years from the start of the subscription period.
Premium Modes Single / Yearly / Half-yearly / Quarterly / Monthly
Sum Assured Age/PPT For 5 yr PPT For SP
Minimum Maximum Minimum Maximum
Below 45 Yrs 10 * AP 20*AP 1.25*SP 5*SP
Between
45yrs & 60yrs 7 * AP 20*AP 1.25*SP 5*SP
61 yrs and above 7 * AP 7 * AP 1.25*SP 1.25*SP
Plan Options 2 Plan Options:
1. Secure Plan – All your funds would be invested in the Daily Protect Fund
2. Secure N Grow Plan – 80% of your funds would be invested in the Daily Protect Fund and 20% would be invested in the Index Fund
* All the references to age are age as on last birthday.
Benefits:
• Maturity Benefit: On completion of Policy Term, Maturity Value will be paid.
Maturity value for the Daily Protect Fund will be calculated based on NAV which is higher of:
• Prevailing NAV as on date of Maturity OR
• Higher than Highest Guaranteed NAV: There will be an increment of 5% to the Highest NAV achieved during the first seven years under the ‘Daily Protect Fund’.
• Death Benefit: Higher of the Fund Value or Sum Assured## is payable; subject to a minimum of 105% of the total premiums paid## at the time of death. The death benefit is payable only for inforce policies.
• Accidental Death Benefit Option: Accidental Death Benefit: Provides additional death benefit if the death occurs as a result of an accident.
# The Guaranteed NAV is applicable only in respect of the Daily Protect Fund and shall be available only at maturity, and shall be further subject to the Policy being in force till the maturity date. Guarantee charge of 0.50% p.a. of Daily Protect Fund value, would be recovered from the fund (through cancellation of units) to provide the NAV guarantee.
## Net of partial withdrawals
**Tax benefits are subject to change in tax laws. Please consult your tax advisor for details.
Ramesh Negi says
Im just retired from govt. service
I have invested Rs. 2 lak in SBI UNIT Plus III (P)
tell me appreciation and benefits
any other schemes for short term investment n good return
Moorthy says
Sir, I wish to invest Rs. 50000/- PA for 3 yrs. Now, My question is how can i am getting amount after my 3rd due. pl clerify
Anil says
Sir, I wish to invest Rs. 50000/- PA for 3 yrs. Now, My question is how can i am getting amount after my 3rd due. pl clerify
anurag says
anil no persan say wht is the amount after 3 years.
vikram sharma says
Dear Moorthi Sir,
If you wants to invest with Insurance Co., I guarentee you that no company can provide you good results in 3 years, Recent rules of IRDA restricts to customers to pay her/his premium at least 5 years. Simple ULIP plans are better then Highest NAV guarentee plan deu to complicated pricing structure. Highest NAV dosn’t means about Market related NAV, Highest means Debt funds related highest NAV on recording dates.
Rajdeep Konwar says
Mr Vikram
If u don’t know about nav guarnetee plan then pls don’t sent any comment.
Nitin says
Hi sir,
I have invested in SBI ULIP. Would you pls tell me that how should I calculate my Investment gain. More about my policy, I am investing 50000 p.a. for 3 years? Is it based on Money Market NAV or Flexi Protect NAV. Please guide me. Thank you,
Nitin
srinivasu says
sir,
wellsaid.Even irda now found some loopholes in design of these ulip plans.Kindly remember these are NOT time tested, donot be a victim by loosing mental peace after taking such unknown polices.
go to any sbi life insurance offices and spent some time with persons who are already subscribed , their blind faith on sbi as a bank.
check the fund value of a policy.
thanks for this good work.
Mohammed Shafiuddin says
All the investors are requested to check the NAV on the SBI site.
Parkar says
Salam
Respected brother Mohammed
please provide me the correct link so i can check my NAV.
please guide me i invested 1 lakh one time in SBI life unit plus 2 regular in 2009. what shall i do? shall i wait till maturity or shall i discontinue, please reply.
Intkhab Alam says
sir i invested 50000 in sbi smart ulip on 31 dec 2009. i want to know about my nav and what is the value of my investment.
Dr.Mohammed Shafiuddin says
I do not understand why people are worried this much. I hope that there will be no loss after 4 years. Be hope full
Dr.Mohammed Shafiuddin says
Hello,
Many people expressed their doubt in this plan and now they are able to understand this plan clearly. Really this is a good plan and invest in it.
Thanks
Dr.Mohammed Shafiuddin says
Hello,
Many people expressed their doubt in this plan and now they are able to understand this plan clearly. Really this is a good plan and invest in it.
Thanks
srinivasu says
dear sir,
do u have any fund value details?
DO NOT get carried away by some agents word.
LOOK BEFORE YOU LEAP !!!!!
But one word, this a very informative site,a must recomend to dear/ near.
thanks
Murali says
I invested in Sbi Unit plus 2 . I am paying 48000 rs per year for next 3 years.Can any one tell how much i can expect the returns???
Murali says
I invested in Sbi Unit plus 2 . I am paying 48000 rs per year for next 3 years.Can any one tell how much i can expect the returns???
sreepriya says
I invested in SBI Life Smart ULIP series II this May without knowing anything about the policy and just trusting the words of an employee in SBI who doubles up as an agent…(that’s what her card says) Just trusting her words, I was stupid enough to invest Rs.50000 in ULIP and this have to be continued for another 2 years…she didn’t tell me a word about the very high charges they levy…and so I was really shocked later…My question is, with the revised policy rules, will the charges be reduced in the coming 2 years ? Actually I have very little income and could have safely invested in some post office savings options. Instead just trusting her I invested in this policy… I feel cheated and dejected… will I atleast get Rs.2,50,000 at the end of the term?
sreepriya says
I invested in SBI Life Smart ULIP series II this May without knowing anything about the policy and just trusting the words of an employee in SBI who doubles up as an agent…(that’s what her card says) Just trusting her words, I was stupid enough to invest Rs.50000 in ULIP and this have to be continued for another 2 years…she didn’t tell me a word about the very high charges they levy…and so I was really shocked later…My question is, with the revised policy rules, will the charges be reduced in the coming 2 years ? Actually I have very little income and could have safely invested in some post office savings options. Instead just trusting her I invested in this policy… I feel cheated and dejected… will I atleast get Rs.2,50,000 at the end of the term?
Rajdeep Konwar says
Sir this is a very very very good policy.Sinch inseption the return of this policy is 60%.The Smart ULIP product provides NAV guarantee that is the highest of 168 fortnightly NAVs during first seven years or NAV at maturity, whichever is higher.Forget about the charges.just see the return of this policy.Trust the policy,trust in Sbi Life.U will definetly get a very good return.
srinivasu says
yaaar, donot try to fool others, i work as a agent for a living.
Nitin says
Hi sreepriya,
Well I also agree with you, that at the time of offer SBI agent had not disclosed the no. of charges. However I had discussed about the same with the SBI brnch manager. He said that the returns will include the investment portion of the charges. Still I am not confirm about this. If it’s true pls confirm us.
thank you
Nitin
srinivasu says
NO
anurag says
sir, i am planning to invest 1.5 lakhs ( 3yrs). how much i can expect at the end of 7th year. pls inform present nav of smart u lip
jayant bhat says
You will get the answer of your query if you read the review and comments right from beginning.ULIP investment means no guarantee of returns in amount. Simple words – No Guarantee of Money.Might double in one year, might go negative in one year or 5 yrs,might double in 5 years. No Guarantee.Yes,but worth investing for long time investors only.
anmol says
dear friends
i am planning to invest in ulip and the premium per year is 50000 , and i am plannig the priemium to be paid upto 3 yrs only and after 4th or 5th yr i am planning to take out my money. so how much return i will get after 4rys apporx kindly suggest. coz the insurance agent are saying u will double ur money after 4 to 5 year is it so . kindly suggest