SBI Life Insurance – Unit Plus III Plan

SBI Life – Unit Plus III is an excellent and flexible non participating Unit linked Plan , specially designed to meet your changing requirements at various stages of life. With a wide array of funds, riders and other options, this product gives you the complete freedom to fulfill all your investment and insurance needs. And that’s not all; we now also offer you guaranteed additions and choice of payment options at a lower cost, giving you far superior value.  
 Key Features:
 Guaranteed Additions of upto 200% of your current years premium for Regular Premium Option and upto 25% for Single Premium Option.
No Premium Allocation Charge from 11th year onwards, thereby boosting your fund value
Enhanced investment opportunity through 8 varied Fund Options including Index Fund & Top 300 Fund
Twin Benefit of Market linked returns & insurance cover
Flexible product with an option to increase/decrease your premium and Sum Assured from 4th year onwards
Option to customize the product with a wide range of riders:


·         SBI Life – Criti Care 13 Rider (UIN: 111A018V01)


·         SBI Life – Accidental Death Benefit Linked Rider (UIN: 111A019V01),
·         SBI Life – Premium Payor Waiver Benefit Rider (UIN: 111A017V01)
·         SBI Life – Income Sustainer Rider (UIN: 111A020V01).
 Product Snapshot

Age at Entry*

Min: 0 years        Max: 65 years

Age at Maturity

Applicable for both Regular and Single premium optionsFor Limited Term Max: 70 yearsFor Whole Life: 90 years

Policy Term

For Regular Premium: (The term varies with premium size)

Premium Size (in Rs)Policy Term
24,000 – 99,900The Policyholder can chose any of the five fixed policy terms: 10/15/20/25/30 years
100,000 – 499,9007 to 30 years
500,000 & above5 to 30 years

For Single Premium – 5 to 30 years

For Whole Life Term: 90 years – Age at Entry

In case of minor lives, policy term should be appropriately chosen so as to ensure that at the time of maturity life assured should be a major.

Premium Modes

Yearly / Half-yearly / Quarterly / Monthly/Single

Annualized Regular Premium Amounts (X 100)

Single Premium Amounts (X 100)

                         MinRs 24,000                   Rs 60,000 p.a.        MaxNo limitNo limit

Top Up Premium (X 100)

Min Rs. 5,000
Max: 25% of the basic Regular/Single premium paid till date

Sum Assured

Min:For Regular Premium (RP) – 5 * Annualised Premium (AP)For Single Premium (SP) – 1.25 * Annualised Premium (AP)

ParticularsFor Regular PremiumFor Single Premium
Entry AgeUpto 45 yrs46 to 65 yrsAll Ages
Limited Term20 * AP10 * AP5 * SP
Whole Life Term20 * AP5 * AP1.25 * SP



* All the references to age are age as on last birthday.
 Choose your term: If you are in age group of 0 to 65 we offer you two choices.
Limited TermWhole Life Term
Minimum 5 Years Maximum 40 YearsUpto 99 Years of Age
Maturity Benefit: On completion of Policy Term, Fund Value will be paid.
Death Benefit: Higher of the Fund Value or Sum Assured (net of partial withdrawals) is payable. However for minor lives the risk commences from 7 years of age last birthday and on death before attainment of 7 years of age, the fund value is payable.

Rider Benefits:


1) Criti Care 13 Rider: Provides lump sum amount to take care of 13 Critical Illnesses which include Cancer, Coronary Artery Bypass Graft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis
2) Accidental Death Benefit Linked Rider: Provides additional death benefit if the death occurs as a result of an accident.
3) Premium Payor Waiver Benefit Rider: In the event of the death of the Proposer, the cover for the Life Assured under the base policy continues and the future premiums under the base policy, payable during the rider term, will be paid by the Company.
4) Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to Accident or Sickness, whichever is earlier. A 25% of income sustainer benefit sum assured is paid upfront and 1% of income sustainer benefit sum assured is paid monthly in arrears for 10 years or till the end of the base policy term (capped at a maximum of 30 years) whichever is higher.
 For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

 Download brochure.


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