SBI Life Unit Plus Super plan – Review, Premium Calculation, Key Features

SBI Life Unit Plus Super Bond Plan is a unit linked insurance plan. It is designed such a way that it can cover your requirement at various stages of your life. In this policy policy holder can decide whether he/she can invest the amount in equity market or in debt market. Company is not responsible for the investment risk in this case as policy holder has the control to decide about where he/she want to invest.

SBI Life Unit Plus Super plan Key Highlights

  • Guaranteed additions upto 75% of one Annual Regular Premium
  • Guaranteed additions starting as early as 10th Policy year on-wards
  • Policy Administration fee for first 5 years is NIL in case of Regular and Limited Premium Paying Term (LPPT) plans
  • No Premium Allocation Charge from 11th year onward
  • Huge investment options with 9 varied Fund Options including P/E Managed Fund, Index Fund & Top 300 Fund. ( Index Fund, Equity Fund, Top 300 Fund, Equity Optimizer Fund, Price Earning Manager Fund, Growth Fund, Balanced Fund, Bond Fund, Money Market Fund)
  • Option to pay Regular/Limited/ Single Premium; Switch or Redirect your premiums
  • Flexible product with an option to increase/decrease your Sum Assured from 6th year onward
  • Life Insurance coverage, with minimum Sum Assured, based on your age
  • Choice of 4 rider benefits available

Benefits of SBI Life – Unit Plus Super plan

  • On completion of Policy Term (After maturity), Fund Value will be paid as agreed.
  • In case of death of insurer, nominee will get higher of the Fund Value or Sum Assured with a minimum of 105% of total basic premiums till the time of death.
  • This policy has couple of rider benefits included. You can get more details of these benefits while subscribing the policy. These benefits are Critical Care 13 Rider, Accidental Death Benefit Linked Rider, Premium Payor Waiver Benefit Rider, Income Sustained Rider etc.
  • Insurer will also get income tax benefit on the premium paid yearly under Section 80C. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax deduction under Section 80 (D) is available for premiums paid towards Critical Care 13 Rider.

SBI Life – Unit Plus Super plan Premium calculation

To explain the example here we are proving a simple calculation. Lets say a person having an age of 30 years want to go for this policy. In this case

Premium = Rs.50,000
Policy Term = 20 years and 30 years
Premium Paying Term = Regular Pay
Sum Assured = Rs 10,00,000

Total Investment = Rs 50,000 X 20 years = Rs 10,00,000
Rs 50,000 x 30 years = Rs 15,00,000

Now considering a 10% return you can get maturity amount as below
Term 20 years = 2,437,642 /-
Term 30 years = 6,261,622 / –

This return calculation is arbitrary  Generally for any insurance come savings plan you can get a 6-7% interest rate. But some case it might be high. There are more clauses added for this policy. You can read the complete SBI life super plus plan brochure. Discuss with your financial planner for better understanding.


  1. sivakumar

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