SBI Life launches Smart Wealth Assure Ulip plan

SBI Life Insurance today launched an unit linked plan -- Smart Wealth Assure-- aiming to provide guaranteed fixed returns to the policyholder. Smart Wealth Assure guarantees at inception a pre-specified NAV applicable at the end of the 10-year term, SBI Life said in a statement. SBI Life Smart Wealth Assure is a single premium plan and offers policyholders optional Accidental Death benefit and partial withdrawal facility from 6th policy year onwards. The scheme would be available at a minimum amount of Rs 50,000, and would cover policyholders from 8 years to a maximum 65 years of age with a policy term of 10 to 30 years. With launch of Smart Wealth Assure, SBI Life now has a bouquet of eight Ulips catering to the long-term wealth creation and life insurance needs of varied customer segments.

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