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What are SBI Life Smart Wealth Builder? Explain its features and benefits.

SBI Smart Wealth Builder - SBI Life Insurance offers a unit-linked, non-participating insurance plan. Individuals can benefit from this policy in two ways: increased investment opportunities by parking money in investment funds and life insurance coverage. Based on the policy period, SBI Smart Wealth Builder gives guaranteed additions. SBI Life is one of India's most well-known life insurance companies. It is a joint venture between the State Bank of India and BNP Paribas Cardiff, a renowned global insurer. At low rates, the organization offers a wide choice of life insurance and pension solutions. Features of SBI Smart Wealth Builder The features of SBI Smart Wealth Builder plan are as under: Life insurance coverage Guaranteed increases can be up to 125 percent of one annual regular premium depending on the policy length. There are no premium allocation charges after the 11th year. From the 6th policy year onwards, you have the option to increase or decreas

How to trace unclaimed Life Insurance benefits?

Locating life insurance documents for a deceased relative can be a daunting task—for one thing, as of this moment there are no national databases of all life insurance policies. However, with a little sleuthing, you can successfully navigate the paper trail. Here are some strategies to help simplify your search: Look for documentation related to insurance Look through your files, bank safe deposit boxes, and other storage locations for insurance-related paperwork. Also, look through address books for the names of any insurance professionals or companies—an agent or firm that sold the deceased's vehicle or home insurance might be aware of a life insurance policy. Speak with a financial advisor Attorneys, accountants, investment advisers, bankers, business insurance agents, brokers, and other financial experts may have knowledge of the deceased's life insurance policies, whether they are current or former clients. Examine applications for life insurance Each poli

How important is it to understand one's risk profile before investing?

Risk and return are two sides of a coin Risk and return are two sides of the same coin. With high return comes high risk and vice versa. One needs to take the needed risk to earn the excess return. A person investing in an FD as he thinks is safe but is worried about inflation eating up his returns or a person investing in an equity mutual fund who gives knee jerk reaction to every market move isn’t investing according to their risk appetite. Clearly, the first person is willing to take more risks and the second one isn’t. Understanding one’s own risk profile is very important before they start investing. Also, what may suit one person may not suit the other. Each individual has a different capacity for risk. Just because a person is investing in a low-risk product doesn’t mean the others also have to invest in that. The herd mentality doesn’t work for investing. What is the risk? Risk refers to the degree of uncertainty or potential loss in an investment. As risk increases inves

What is the most cost effective life insurance type?

Term Life Insurance Term life insurance is the most affordable type of life insurance. It can further be classified into level term insurance, decreasing term life insurance, and increasing term life insurance. What Is Term Life Insurance? Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate. How Term Life Insurance Works? When you buy a term life insurance policy, the insurance company determines the premiums based on the policy's value( the payout amount) and your age, gender, and health. In some cases, a medical exam may be required. The insurance company may also interrogate about your driving record, current medications, smoking status, occupation, hobbies, and fam

What should you opt for Short-Term or Long-Term Health Insurance Policy?

Every individual living in this country ought to have the right to lead a healthy life. This will be accomplished through access to quality health care services associated with an understanding of one’s personal health desires. We have a tendency to sleep at a time when life-threatening diseases are on the increase. Inactive lifestyles and massive stress associated with work or life normally put North American nations at the chance of developing life-threatening diseases. In the face of all this, insurance coverage is a necessity, a non-negotiable wish that protects you and your family against any medical emergency, accident, etc. People in this country are slowly warming up to the concept of insurance, but there's a bigger want for folks operating in certain sectors (particularly middle-income groups) to adopt a reasonable health coverage setup. Choosing a health care system could be a terribly difficult matter. Most people aren't aware of the plans and find themselves wedg

How do Investment plans help at important stages of life?

Start investments early Investing isn't a one-time call. It's a long method. Investment ought to begin at the start of one’s operating life, notwithstanding however little the number is. However one mustn't lose heart if he\she has not started investment until currently. At no matter stage of the life cycle you're and if you've got not started investment, do it now. Discipline One of the foremost crucial elements to the current journey of long investment is discipline. No matter your investment goal, it cannot be achieved while not regular, disciplined, and rigid habits of saving and investments. Having mentioned the quality rules of investment that area unit common to all or any people, investment portfolios and ensuant quality allocation depend on the life stages of investors. Rule of 100 We can take steering from the ‘Rule of 100’, a really well-liked thumb rule for quality allocation supported the life cycle of people. During this rule, one has got t

How to structure a Retirement Plan if you are a Business owner?

If you own a business, you're seemingly to remain active in it for as long as you'll be able to. Not like company and government jobs wherever there's a group age until you'll be able to work, a business owner has no such limit. But not withstanding however you're concerning your business, there'll be a time after you feel that perhaps it's time to require the rear seat. Thus, retirement designing is as vital for a business owner because it is for a salaried individual. Early retirement designing can assist you retire free from monetary stress and perhaps even be after to one thing distinctive. Retirement and Pension Plans for Business Owners As a business owner, you will safeguard your retirement by investing sagely. Your savings should grow over the years. Investment within the following investments will assist you to produce a decent corpus that you simply will use to measure when you retire from your business. 1. Public Provident Fund (PP