The SBI Life-Unit Plus II is specially designed to meet the financial and the insurance requirements through a single participating product. This product can be used in the desired way. This policy meets all the financial and the investment requirements.
The key features of SBI Life-Unit Plus II are as follows:
• This policy is very flexible and thus suits the daily changes and requirements.
• The customer using this policy can change the allocation percentage according to their desire.
• This policy gives a choice of 5 investment funds.
• This policy also gives 4 switches per annum.
• The policy holder can either opt for limited term or whole life.
• Under this policy of SBI attractive riders are available.
• The policy term for SBI Life-Unit Plus II minimum is 5 years and maximum is 40 years.
• Anybody in good health and age group between 0 to 65 years can buy this policy
• The riders available under this policy are Accidental Death and Total Permanent Disability Rider and Critical Illness Rider.
The main benefits of SBI Life-Unit Plus II are as follows:
As maturity benefit
On the maturity of the policy the policy holder will get the fund value on the same date.
As death benefit
If there is any case of unfortunate death of the policy holder the before or at the age of 7 years the fund value is paid to the nominee.
If there is any case of death of the policy holder after 7 years or before 65 years then the fund value or the sum assured deducting the partial withdrawals will be paid to the nominee.
If the policy holder dies at the age of 65 then the fund value and the sum assured deducting the partial withdrawals.
As tax benefit
Tax benefit according to section 80C and 10(10D) of Income Tax Act is applicable under this policy.