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When we invest in a life insurance policy, we expect that it provides financial security to us and our loved ones during uncertain times. SBI Life Insurance is a leading provider in the life insurance industry, helping millions of individuals achieve this peace of mind. However, just buying the policy and forgetting about it is not enough.
It is imperative that policyholders monitor the fund value of their life insurance policy to ensure that their investment is growing and meeting their financial goals. Hence, in this article, we will discuss about fund value and also show the steps to keep track of your fund value with SBI Life Insurance. This article will talk about the following:
In simple terms, fund value is the aggregate value of investments made in the unit linked life insurance plan. It is calculated based on the net asset value (NAV) of the policy, which takes into account the investment balance, cash balance, and valuation of securities, while deducting charges like management and operating fees. Simply put, fund value represents the current worth of the policyholder’s investment in the plan.
Upon maturity of the policy or in the event of the policyholder’s unfortunate demise during the policy term. The policyholder or their beneficiaries will receive the fund value or the sum assured, whichever is higher, as per the policy terms and conditions.
Below are the steps to check your fund value:
This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.