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ULIP Review SBI Life Smart Horizon

 


Product Details

SBI Life Smart Horizon Plan is a Type I unit-linked insurance plan that offers higher of the sum assured or fund value as death benefit. It offers automatic asset allocation investment strategy which protects against volatility. You have the option to actively manage your investment also. The investment funds include Equity, Balanced, Bond and Money Market Funds which were launched over five years ago and have an excellent track record.

Unique Feature

The scheme offers four riders for additional coverage. These include critical illness (covers 13 illnesses), accidental death benefit, premium waiver and income sustainable riders.

For Existing Customers

Those already invested in the plan should remain invested as it's a good investment. Investors with a high risk-return appetite should definitely opt for the Equity fund considering its performance chart. Those with a low risk-return appetite can opt for the Balanced or Bond funds.

For Those Looking to Invest

Those interested in earning good returns and not averse to a little higher cost structure should invest in the SBI Life Smart Horizon. Among the riders, one should try to take the accidental cover and income sustainable riders. Avoid the critical illness rider. Instead, buy health insurance from any general insurer.
   

Our View

Smart Horizon seems to have a competent cost structure due to a low premium allocation charge. But this gets factored in with high policy administration charges. The scheme is worth buying due to outstanding returns of the funds it offers. Most funds have outperformed their respective benchmarks especially Equity fund that has generated a 22% YoY return, vis a vis 17% of Nifty.

 

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