SBI Life Smart ULIP (Series II) Review

Posted by Shiva
August 8, 2010

After a spate of ULIP plans which gave a guarantee of highest NAV in 7 years like the LIC Wealth Plus and much more similar plans, here comes another plan from SBI Life namely Smart ULIP II.  This is very similar plan to the one mentioned above like the Wealth Plus, ICICI Pru Pinnacle, and Platinum Premier plan from Birla Sun Life and more.  SBI Smart ULIP Series II not only guarantees on NAVs for the first seven years but also will participate in market upside.  It is a unit linked non-participating plan from SBI Insurance.

SBI Life opened up this Smart ULIP again after the initial issue that involved with that of IRDA and SEBI related to such similar Unit Linked Insurance Plans.  Smart ULIP helps you protect your investments and also helps you get the market returns that come with NAV guarantee.  But just as any other Unit Link Insurance Plans the investment risk is borne by the investors.

SBI Life SMART ULIP Series II comes with the tagline of “Heads you win.  Tails you win.”  Also comes with the maximum growth potential, helps you invest hassle free and flexible premium payment terms.

Features of SBI Life Smart ULIP:

Plan Details:

Benefits of Smart ULIP:

Although sounds and looks lucrative, since being an ULIP and hence the cost involved during the initial period of the policy term is very high and hence it is left up to the individual whether to go for it or not.  My personal view would be to just avoid such Unit Linked Plans at least for the time being until IRDA sets right the fees and make it lesser just like what SEBI has done to mutual funds!  Till then wait and watch rather than being lured by the agents who sell them.  Meanwhile you download the brochure for SBI Smart ULIP  Series II here and read all the policy terms and charges involved before making a decision.

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ULIP

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Comments

Pl. give details of maturity amount and maturity date,of investment of 50,000/ invested in your SBIlife smar ULIp ll
Regards
Rajnish

Comment by Rajnish Kumar on August 11, 2010 @ 4:43 pm

Hi,
I have taken ULIP series II with you guys and I was told that I can check the status through your website:www.onlinesbilife.com. I tried many times and does not work. Is that the correct website address? How do I check it? Money had been withdrawn from my account and this is not giving me any sort of comfort. I would request you to revert asap.

Comment by athihe daikho on September 17, 2010 @ 5:37 pm

Hi,
I would suggest you to contact the SBI Life Customer service via their online contact or via their helpline number. I don’t belong to SBI Life, I just posted an article about it, that’s all.

Comment by Shiva on September 17, 2010 @ 10:36 pm

I want to Know my sbilife smart ulip series 2

Comment by CHANDAN KUMAR on December 30, 2010 @ 6:04 pm

I have taken SBI ULIP series II, I can’t check the status through your website:www.onlinesbilife.com. I tried many times and does not work. How i can access my ULIP status.
I would request you to revert asap.

Comment by saju george on January 31, 2011 @ 3:06 pm

Please forward a surrender application for to the above e-mail id

Thanking You
Girija

Comment by Girija Nair on March 11, 2011 @ 12:20 am

Hi, please contact your SBI Insurance agent for the same or contact SBI Insurance directly.

Comment by Shiva on March 11, 2011 @ 10:39 pm

very very deficulty comes to see my premium on the sbi site,
pls. for customer easy location give on sbi site.

Comment by jay prakash raman on April 8, 2011 @ 8:45 am
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