SBI Life Unit Plus II:

SBI – Life Unit Plus II plan is a specially designed plan that is convenient for you to use.  It is a plan which not only saves your money but also works to multiply it on a regular basis since it invests your money in profitable markets.

By buying SBI Life Unit Plus II you have the following gains:
You can choose any of the five different investment funds that are available in this plan. You also are permitted to shift your money from one investment fund to another for a maximum of four times in a year. 

By doing this you can put your money in the fund that is getting more profits at that time.

You can choose your policy term.  The two types that are available are the Limited Term and Whole Life term.  If you wish to invest your money for a life long term you can choose the latter, otherwise you can choose the former one. 

This plan also allows you to pay your premium either as a single lump sum payment or you can pay your premium on a regular basis.

The benefits offered by the SBI Life Unit Plus II are,
That on maturity of your policy, you are eligible to receive the full fund value.  In case due to some unfortunate incident the life insured dies before closing seven years of age, his nominee is eligible to receive only the fund value from the policy.  

If the life insured dies after closing the age of seven years, his nominee will receive greater of the fund value or the sum assured. The partial withdrawals that you have made in the last one year will be deducted from the sum assured.

If the death of the life insured takes place after he has completed sixty five years of age, his beneficiary will receive greater of the fund value or sum assured.  If the life insured has withdrawn any amount within the past one year, that amount will be reduced from the sum assured.

SBI’s Life Unit Plus is really a policy which looks after the minute needs of the buyer.  It not only saves the money, but also produces major gains for it.