SBI Life ULIP Calculator

Why is Life Insurance Premium Calculator Necessary for a Policyholder?

Every insurer providing life insurance policies has started offering premium calculators to their customers. These calculators are essential for the policyholder in order to determine the amount they will be paid on the maturity period. As a result, the customer will quickly understand the returns they will get after the maturity period of their ULIP or endowment policies. In addition, the premium calculator furnishes a better picture of their returns and helps the policyholders in selecting the best policies for them. 

Top ULIP Funds^†

Returns 3 Years 5 Years 10 Years

Equity (Large, Mid Cap) Balanced Debt

Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

High Growth Fund

Max Life

AUM:8,243 Cr

8,243 Cr

NAV

120.7

-0.87%

Returns

27.73%

Returns

31.47%

Highest Returns

Returns

19.3%

Get Details

Virtue II

PNB Metlife

AUM:3,314 Cr

3,314 Cr

NAV

75.97

-0.30%

Returns

18.68%

Returns

25.83%

Highest Returns

Returns

16.48%

Get Details

Accelerator Mid-Cap Fund II

Bajaj Allianz

AUM:6,109 Cr

6,109 Cr

NAV

86.97

-0.35%

Returns

20.48%

Returns

22.28%

Highest Returns

Returns

15.61%

Get Details

Opportunities Fund

HDFC Standard

AUM:38,633 Cr

38,633 Cr

NAV

78.45

-0.37%

Returns

18.47%

Returns

22.64%

Highest Returns

Returns

15.48%

Get Details

Pure Equity

Birla Sun Life

AUM:2,845 Cr

2,845 Cr

NAV

77.4

-0.20%

Returns

17.56%

Returns

21.84%

Highest Returns

Returns

15.07%

Get Details

Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

Whole Life Aggressive Growth Fund

Canara HSBC Oriental Bank

AUM:843 Cr

843 Cr

NAV

94.39

-0.70%

Returns

18.46%

Returns

19.93%

Highest Returns

Returns

14.91%

Get Details

Whole Life Stable Growth Fund

Canara HSBC Oriental Bank

AUM:268 Cr

268 Cr

NAV

62.47

-0.30%

Returns

13.78%

Returns

15.46%

Highest Returns

Returns

12.08%

Get Details

Balanced Fund

Canara HSBC Oriental Bank

AUM:365 Cr

365 Cr

NAV

48.01

-0.28%

Returns

12.75%

Returns

13.61%

Highest Returns

Returns

11.02%

Get Details

Balanced Pension

Canara HSBC Oriental Bank

AUM:559 Cr

559 Cr

NAV

71.06

-0.30%

Returns

10.22%

Returns

12.32%

Highest Returns

Returns

10.7%

Get Details

Asset Allocation Fund II

Canara HSBC Oriental Bank

AUM:323 Cr

323 Cr

NAV

31.58

-0.24%

Returns

11.26%

Returns

12.8%

Highest Returns

Returns

10.63%

Get Details

Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

Builder

Canara HSBC Oriental Bank

AUM:237 Cr

237 Cr

NAV

90.36

-0.35%

Returns

7.45%

Returns

8.21%

Returns

8.45%

Highest Returns

Get Details

Whole Life Income Fund

Canara HSBC Oriental Bank

AUM:811 Cr

811 Cr

NAV

38.64

-0.01%

Returns

6.16%

Returns

6.99%

Returns

7.84%

Highest Returns

Get Details

Debt Fund

Canara HSBC Oriental Bank

AUM:478 Cr

478 Cr

NAV

36.64

-0.02%

Returns

5.89%

Returns

7.02%

Returns

7.63%

Highest Returns

Get Details

Conservative Fund

Canara HSBC Oriental Bank

AUM:231 Cr

231 Cr

NAV

56.2

-0.10%

Returns

7.46%

Returns

8.1%

Highest Returns

Returns

7.56%

Get Details

Protector

Canara HSBC Oriental Bank

AUM:299 Cr

299 Cr

NAV

64.86

-0.16%

Returns

6.49%

Returns

7.03%

Returns

7.54%

Highest Returns

Get Details

Disclaimer :
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Why Should You Use SBI Life ULIP Calculator?

The SBI Life ULIP Calculator is a digital device that can present precise calculations in a matter of minutes. There are, however, many more reasons why you should use the calculator. Some of them are listed below:

• It is convenient: The calculator is highly convenient because of its user-friendly interface. You can simply log in to the company's official website and get a quote for the plan you are interested in purchasing by inputting the details asked by the calculator.

• Easy access: You do not need to leave the comfort of your home if you want to acquire information about the investment in a ULIP plan from the calculator. It is readily available on the website and can be accessed by anyone at any time. Customers do not need to conform to office timings to get quotes.

• It is accurate: The SBI Life ULIP Calculator uses a specific formula to calculate the returns. Since it is computerized, it gives accurate results. Thus, the customer is not required to depend on manual calculations that are prone to errors.

• Financial control: The calculator tells you the exact amount of investment you need in order to meet your expectations. Therefore, once you know the amount you are expected to invest in purchasing a suitable policy, you will automatically rethink your expenses and thus gain more control over your finances.

• Decision making: SBI Life ULIP Calculator helps you to decide if you are ready to invest in the plan by giving you a fair idea of the expenses. Moreover, it can help you reform your decisions as you can use it as often as you want until you get the results per your expectations.

You may find this calculator useful: SIP Calculator

How Should You Use SBI Life ULIP Calculator?

The SBI Life ULIP Calculator is a self-explanatory tool. It can be used by anyone who has access to the internet. Listed below are the steps that you have to use to make efficient use of the SBI Life ULIP Calculator:

• Step 1: Visit the official website of the company. There you will be able to see the SBI Life ULIP Calculator. 

• Step 2: Select if you are purchasing the policy for yourself or someone else.

• Step 3: Select the frequency you want to pay the policy's premium, between monthly and annually.

• Step 4: Select the kind of plan you are interested in between balance and growth. 

• Step 5: Use the scroll bar to decide the term of the policy, which can be anywhere between 10-30 years.

• Step 6: Enter your name, date of birth, gender, resident status, mobile number, email id, etc. In this step, you must enter the details of the person for whom the policy is being taken.

• Step 7: In this step, you will have to enter your details. This step will be required by those customers who are taking the policy for somebody else.

• Step 8: The last step is selecting "Get Quote," and your premium amount will appear on the screen.

SBI Life ULIP Calculator Example

Here is a small example that will help you understand how to use the SBI Life ULIP Calculator:

• Select "Self"

• Choose a "Monthly" premium frequency

• Select the "Growth" option

• Choose the policy term to be 20 years

• Enter your age, gender, name, resident status, city, state, contact number, and email ID

• Click on "Get Quote"

• Result of the calculation:

  • Installment Premium: INR 6,000

  • Annual Premium: INR 72,000

  • Sum Assured: INR 7,20,000

  • Maturity benefit if the assumed interest rate is 4%: INR 18,68,852

  • Maturity benefit if the assumed interest rate is 8%: INR 28,81,119

Advantages of SBI Life ULIP Calculator

Let us have a look at the advantages of using the SBI Life ULIP Calculator:

• Financial discipline:  By using the calculator, you can learn financial discipline at an earlier stage in your life as it will tell you how much money you will need in order to fulfill your Life goals. Hence, it will teach you to manage your finances better.

• Information without commitment: You are not expected to buy the plan after using the calculator compulsorily. You can use it simply for investment-related details based on which you may or may not decide to buy the policy.

• Comparison option: Using the calculator allows you to compare the profits you might make by investing in plans of different insurance companies. Not only that, but you can also compare the returns between the two plan options to find a suitable plan for you that would meet your expectations as much as possible.

• Keeps the customer updated: Since the calculator is continuously updated, you get the returns based on the current rates and charges. Therefore, you do not have to worry about visiting an office to know how the market affects the returns.

Information Required

The following information is required when using the SBI Life ULIP Plan Calculator:

• Periodic payment method

• Type of plan

• Investment duration

• Personal information like name, age, and gender

Benefits of buying the SBI Life ULIP Plan

Here are the benefits of buying an SBI Life ULIP Plan:

• Assists in generating a large corpus: By making disciplined and timely investments, you can generate a large sum of money that can be used in the later stage of Life.

• Security along with investment: Since it is a ULIP plan, a certain percentage of the investment will be invested in safer market instruments. The remaining portion of the investment will be used as the premium for the insurance policy.

• Financial independence: By investing in the plan, you can rest assured that you will get guaranteed returns as the maturity value in the later stage of Life. This fact ensures your financial freedom, even when you retire from work.

• Tax benefits: You can avail of tax benefits under Section 10(10D) and Section 80C of the Income Tax Act based on the premiums paid and returns earned. The premiums paid will help you save tax, while the returns earned are exempted from tax.

In Conclusion

The SBI Life ULIP Plan Calculator can be useful for investors who wish to invest in the plan but are unsure about the amount they will have to invest in getting the expected returns. With the help of this calculator, customers can determine the best investment for them in only a few clicks.