SBI Unit plus II is essentially a Unit Linked Policy (ULIP) in which the investment risk entirely borne by the policy holder.
In this policy you have the option to choose the term viz., limited (min: 5 years and max:40 years) or Entire Life (life cover will be applicable till you attain 99 years of age) and also the allocation of funds can be changed between 5 funds (4 changes are free each annum). The 5 funds available are Equity fund in which the risk is high as majority of the funds are allocated to the Equity and equity related markets.
Equity Optimiser Fund: The risk is although high in this fund, the allocation to the equity markets is comparatively less than the Equity Fund.
Growth Fund: In which the risk is medium to high as the Equity allocation is normally more than the Debt markets allocation.
Balanced Fund: The risk in this fund is medium as allocations are equally distributed across Debt and Equity markets.
Bond fund: In which the risk is Low to medium.
Since this is essentially an ULIP, the return on investment depends on the Unit NAV value at the time of Maturity and there is always a chance of NAV value being lower just at that time. If you cannot bear that risk, you may also consider Aegon Religare’s Star Child Plan which has a ‘Auto Protect mode’ which gradually shifts your allocation to Debt market as the Maturity date comes closer in order to reduce the risk of lower NAV.
In SBI Unit Plus 2, You can also choose to either opt for Single Premium or Regular premium.
In single premium payment option, the minimum premium amount is Rs.40000 and in Regular premium payment, the minimum premium amount is Rs.24000/annum. There is no maximum limit for either of the options.
Any person who is in good health condition in the age group of 0 to 65 years can enter into this policy.
For regular premium payment option (including both limited and whole life cover), the minimum Sum Assured (SA) is 5 times the Annual premium amount.
The maximum SA for Regular premium is as follows:
Age group of 0 – 40 years: 50 times’ annual premium
41 – 50 years: 40 times’ annual premium
51 – 60 years: 25 times’ annual premium
61 – 65 years: 20 times’ annual premium.
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{ 20 comments… read them below or add one }
Please let me know my Fund Value
Customer No. 16813378, Policy No. : 240 61544903, Product Name : UNIT PLUS-II REGULAR.
I am the policy holder of SBI life Unit plus -II Regular.
with Policy number 24057475802
I have paid 50,000 per annum for 3 times
now i have received a premium renewal intimation letter
please give me my policy details and advice
i have unit plus regular plan with policy no 19005454807.
i was paid 12000 in two times, but policy show only 12000 are paid why??.
I have submitted a total of Rs 150000 in SBI unit plus 2regular – growth. I want to know what is the procedure to withdraw my investment & how much will i receive now as 3 years have passed.
please send my policy details and growth rate of amount
Sir,
My policy details are as follows
Policy name : UNIT PLUS-II REGULAR
Policy Number : 24080524801
Payment Frequency : Yearly
Premium Amount : 25000
Term : 40
Sir, I don’t know much about this policy.currently this policy if in force. i have paid second premium in time. I just wanted to know when this policy is going to end and how much i will get. Should i continue with this policy or it will be better if i close it. and what will be my last date of premium.
Thank You
Sir,
My policy details are as follows
Policy name : UNIT PLUS-II REGULAR
Policy Number : 24066241805
Date of Commencement : 05-DEC-2008
Payment Frequency : Haly Yearly
Premium Amount : 12,000
Last Paid Premium : 05-DEC-2010
Sum Insured : 1,20,000
Term : 5
Sir, I don’t know much about this policy.currently this policy if in force. i have paid all the premium in time. I just wanted to know when this policy is going to end and how much i will get. Should i continue with this policy or it will be better if i close it. and what will be my last date of premium.
Thank You
Please let me know my Fund Value
Customer No. 15032502, Policy No. : 240 40539 510, Product Name : UNIT PLUS-II REGULAR.
i have unit plus regular plan with policy no 246864616.i invest 1 lac in this .on feb 2011 it completed 3 years.how much i can get after feb 18
Dear Sir,
This is Santosh, I had opted for a SBI ULIP back in 2007, below are the details of my policy.I opted for a regular premium of 12000 quarterly.
Product and Plan : UNIT PLUS-II REGULAR Plan 0- Fixed Term
Date of Commencement of Risk : 24 October 2007
Date of Commencement of Policy : 24 October 2007
Fund
Allocation % Fund Value Rs. NAV as on 24 October 2007 Number of Units
Equity Fund 100.00 8,812.80 37.94 232.28
Bond Fund 0.00 0.00 12.32 0.00
Growth Fund 0.00 0.00 23.83 0.00
Balanced Fund 0.00 0.00 16.85 0.00
Total 100.00 8,812.80
Is it true that the locking period has been increased from 3 to 5 years.
I would like to know if there were any gains for the last 3 years and is it worth continuing in this scheme, just in case if i have to discontinue, how could i go about it.
I know little about this as i reside away from india.Please guide me regarding this either by posting it here or mailing me at sanewtaurian at gmail.com
Thanks & Regards
Santosh
What is this plan, I can’t find it in SBI Life website?
dear sir,my policy no is 24031106406 under sbi unit plus 2 regular plan fixed term, invested 1 lac. and its already 3years completed. so u pliz tell me wht are the procedure to take out the money along with available amount.thanks
i have an sbi unit plus -II (pension scheme) as i deposited Rs. 105000/- on 03.05.2008 so i request you to please send me the details about all and also maturity
praveen kumar
policy No-28014681904
Date of birth-03.05.1972
sir, iam a sbi lic scheme 2 regular till now i paid 150000 so what is my latest position my policy no is 24063949002/plan sbi life-unit plus 11-regular
i have sbi life unit 2 plus regular plan. i have deposited only 1 premium . so i want to continued it 4 next 3 years. so what are the benefits.4 me 4 next 10 years.
dear sir my share account SBI unit plus 2 regular growth fund how i will get the detail kindly reply for me please
I have invested in sbi -unit plus 2 regular plan 0-fixed term of Rs.50,000.00 (ie Rs.13,897.73 as a premium allocation & Rs.36,102.27 as net investiable portion)for the financial year-2009-10. How the tax tReatment u/s 80 c of the income tax Act 1961
Sir,
My SBI policy plan unit plus -ii regular policy no:-24023759010 Date of birth:-04.05.1977 please inform my policy growth .
I have submitted atotal of Rs 150000 in SBI unit plus 2 . Iwant to know what is the procedure to withdraw my invesatment.
Dear Sir/Madam:
I had took the UNIT PLUS-II REGULAR INCOME PLAN vide my policy No.24071581307. At the time of introducing about the product, if I pay 1,00,000 each 3 years after 3 years I will get 25,000 each every 4 months upto 10 years. Thereafter I will get 453163.00.
Please note that I have already paid 2,00,000.00 so there is one more installment pending
So please confirm the same.
B.regards,
SHAJU