SBI Life · ULIP · Wealth / investment-oriented ULIP
eWealth Plus
A fully online, low-entry-cost ULIP with a choice of a hands-off age-based Growth Strategy or manual fund selection across 12 funds, and zero premium allocation charge.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeSavings — Linked (ULIP)
CategoryWealth / investment-oriented ULIP
InsurerSBI Life
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureYes — fund-value linked
LiquidityNot available in the current product data
Lock-in5 years (statutory minimum for ULIPs)
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A fully online, low-entry-cost ULIP with a choice of a hands-off age-based Growth Strategy or manual fund selection across 12 funds, and zero premium allocation charge.
You might need this if…
- You might need this if you want to start a ULIP online with a relatively modest premium (from ₹3,000/month or ₹36,000/year).
- You might need this if you'd rather not actively manage fund choices and prefer an automatic age-based glide path (the Growth Strategy).
- You might need this if you do want hands-on control and prefer picking from 12 funds yourself (the Active Strategy) with unlimited switches for premium redirection.
- You might need this if a zero premium allocation charge (100% of every premium invested from day one) matters to you when comparing ULIPs.
How it actually works
- Entry age 18-50; maximum maturity age 65; policy term 10-30 years minimum; premium paying term is Regular (matches term) or Limited Pay (7-10 years).
- Minimum premium: ₹3,000/month or ₹36,000/year; sum assured is set at 10× annualized premium.
- Growth Strategy auto-shifts allocation from equity-heavy (up to 80%) toward debt/money market as maturity nears; Active Strategy lets you pick manually from 12 funds.
- Death benefit is the highest of fund value at notification, sum assured minus prior withdrawals, or 105% of total premiums paid.
- There's no premium allocation charge at all — only a ₹100/month policy administration charge (capped at ₹500) and fund management charges of 0.25%-1.35% p.a.
- Two free switches/year (Active Strategy only) and one free partial withdrawal per year from year 6 onward, capped at 15% of fund value.
Worked example
Ms. Tina, age 30, pays ₹1,00,000/year for a 20-year term with ₹10,00,000 sum assured: projected maturity value ranges from ₹26,65,768 (4% assumed return) to ₹41,92,530 (8% assumed return); a death claim in year 10 would range from ₹11,41,104 to ₹14,24,906 depending on assumed growth.
Worth knowing before you decide
- No liquidity for the first 5 years — this is a standard ULIP lock-in that applies here too.
- Discontinuance charges in year 1 can run up to 20% of premium for high-premium policies, tapering to nil by year 5.
- Fund switching (Active Strategy) is capped at 2 free/year; additional switches cost ₹100 each.
- As with all ULIPs, fund performance is not guaranteed and the investment risk sits entirely with the policyholder.
Official source
⌟ Official product brochure
Learn about this category
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