SBI Life Kalyan ULIP Plus Plan
SBI Life Kalyan ULIP Plus Plan is the Unit Linked Group Insurance Plan, which is non-participating. The uniqueness of this plan is that it offers both the Primary Policyholder (employer) as well the Group Member (employee) the same features and benefits. The SBI Life ULIP plan to safeguard and ensures availability of funds to meet your company’s obligations on gratuity, superannuation, pension/annuity and leave encashment. Depending on your needs, you can choose between traditional and unit-linked plans.
Eligibility of SBI Life Kalyan ULIP Policy
|Entry Age||Minimum: 18 Years
Maximum: 79 Years
|Maturity Age||80 Years|
|Minimum Premium Amount||Rs. 50,000/-|
|Life Cover||Rs. 1,000/-|
|Free Lock Period||15 Days|
|Group Size||Minimum: 10 Members
Key Features of SBI Kalyan ULIP Policy
- The SBI Kalyan ULIP Plus plan offers you a great platform to manage the funds for the group for the below mentioned schemes:
- Defined Benefit Scheme.
- Defined Contribution Scheme.
- Hybrid Scheme.
- The premium payment can be made with payment options at any time of the year chosen by the policyholder.
- Manage your funds in an efficient manner, by using the option of switching between funds at any time. When you want to switch between the fund options you need to move at least a 5% amount into a different fund.
- Superannuation scheme does not allow both switching and redirection of premiums and funds.
- Systematic Transfer Option, by using this fund you will simply invest your monies into this fund.
- Free Look period of 15 days will be provided to check the terms and conditions of the plan and if the employer/ master policyholder disagrees with the policy they can return the policy.
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Benefits of SBI Life Kalyan ULIP Policy
In this scheme, the event of death, resignation, retirement, etc. the benefit will be payable. This amount will be paid from the policy account to either the master policyholder or the group member.
In the event of the death of the member, the sum assured will be paid to the nominee by the master policyholder. Only the Leave Encashment and Gratuity schemes are applicable for insurance.
As per the Income Tax Act 1961, the tax benefits will be applicable.