SBI Life · ULIP · Goal / child-oriented ULIP
Smart Fortune Builder
A goal-oriented ULIP that adds guaranteed additions at year 10 and every 5 years after, on top of market-linked fund growth, across a 15-30 year horizon.
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)
CategoryGoal / child-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 goal-oriented ULIP that adds guaranteed additions at year 10 and every 5 years after, on top of market-linked fund growth, across a 15-30 year horizon.
You might need this if…
- You might need this if you're saving toward a specific long-term goal (education, retirement, a big purchase) 15-30 years out and want built-in loyalty boosts along the way.
- You might need this if you want the reassurance of guaranteed additions at fixed milestones (year 10, then every 5 years) layered on top of variable market returns.
- You might need this if you're comfortable putting in ₹40,000-50,000+ a year and want a choice among 12 funds to match your risk appetite.
- You might need this if you'd like the option to add accident death/disability riders without buying a separate policy.
How it actually works
- Entry age 18-55; maximum maturity age 70; policy terms 15-30 years; premium options are Regular Pay, Limited Pay (7/10/12/15 years), or Single Pay.
- Minimum premium is ₹40,000-50,000/year (Regular/Limited Pay) or ₹65,000 (Single Pay); sum assured is 10× annualized premium or 1.25× single premium.
- Death benefit is the highest of current fund value, sum assured minus withdrawals, or 105% of premiums paid.
- Guaranteed Additions are credited at year 10 and every 5 years thereafter (in-force policies only), plus extra maturity additions of 5-10% of premium for higher premium bands — up to 150% cumulative for 30-year Regular Pay policies.
- Premium allocation charge starts at 9% in year 1, tapering to 0% by year 11 onward; fund management charges run 0.25%-1.35% p.a. across 12 funds.
- An Accident Benefit Rider adds Accidental Death cover (up to ₹75 lakh, 3× sum assured cap) and Accidental Partial Permanent Disability cover (up to the sum assured).
Worked example
Mr. Sanjay, age 35, pays ₹50,000/year for a 30-year term (₹5,00,000 sum assured, 100% Bluechip Fund): projected maturity value ranges from ₹22,82,166 (4% assumed return) to ₹45,42,661 (8% assumed return).
The tiers
| Premium Band | Extra Guaranteed Addition at Maturity |
|---|
| Below ₹1 lakh/year | 0% |
| ₹1-2 lakh/year | 5% |
| ₹2 lakh+/year | 10% |
Worth knowing before you decide
- No surrenders or partial withdrawals allowed during the mandatory 5-year lock-in, standard for all ULIPs.
- Premium allocation charge is steep in year 1 (9%) compared to some peer ULIPs, before dropping to zero from year 11.
- Guaranteed additions require the policy to remain in-force at each milestone — lapsing forfeits that boost.
- As with all ULIPs, investment risk and any shortfall from assumed illustrated returns are borne entirely by the policyholder.
Official source
⌟ Official product brochure
Learn about this category
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