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Am I making the right choice? Smart Fortune Builder Plan SBI

Ramalingam Kalirajan |10870 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Dec 23, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Asked by Anonymous - Dec 12, 2024Hindi

Money

Maine SBI ka smart fortune builder plan liya hai 1 lac per annum after 5 year kitna fund taiyar ho jayega

Ans: The SBI Life Smart Fortune Builder is a Unit Linked Insurance Plan (ULIP). It combines life insurance coverage with market-linked investments. Your final fund value after 5 years depends on several factors:

Factors Affecting Your Fund Value
Investment Allocation

The returns depend on the funds you select (equity, debt, or balanced).
Equity-oriented funds offer higher growth potential but come with risks.
Debt funds offer stability but may have lower returns.
Charges Deducted

Premium Allocation Charges: Deducted upfront from each premium.
Policy Administration Charges: Monthly deductions from your fund value.
Fund Management Charges: A percentage of the fund value is deducted annually.
These charges can significantly impact your returns.
Market Performance

ULIP returns are market-dependent. If markets perform well, equity funds can provide good returns.
However, market downturns can reduce fund growth.
Sum Assured Deduction

Mortality charges for the life cover reduce your investment value.
Approximate Projection
Assuming moderate returns of 8%-10% annually from equity-oriented funds:

Fund Value After 5 Years: Around Rs. 4.6 lakhs to Rs. 4.8 lakhs after charges.
If you choose debt-oriented funds with conservative returns of 5%-6%:

Fund Value After 5 Years: Around Rs. 4.2 lakhs to Rs. 4.4 lakhs after charges.
Is This Plan Right for You?
ULIPs often have high charges, reducing returns compared to mutual funds.
For wealth creation, a mutual fund SIP is more efficient and transparent.
Recommendation
If your focus is on wealth creation, consider surrendering the policy after 5 years (lock-in period).
Reinvest the proceeds into mutual funds for better returns and flexibility.
For a personalised strategy, consult a Certified Financial Planner to align your investments with your goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Sii sbi build life insurance ki yearly 50,000 chalo kiya hai ab next due nahi kar sakte to kya kare please

Ans: Hello;

Their is a grace period of 25-30 days after the premium due date. If you can manage funds by that time then okay else the policy becomes void but their is a window period(1-2 yrs; check policy document for exact details about this aspect) within which you may revive the policy.

Else you may surrender the policy.

You will receive balance fund value of your first year premium after deduction of discontinuation and other charges after lock-in period which is typically 5 years from start of the policy.

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Sir mein def person hun mein smart fortune wealth buider midcap fund mein 2 lakh investment karna chahta hun kya hai sahi faisla hai

Ans: Hi Sunil,

No. This is not a good plan. It comes with hidden charges, lock-in and very low returns, even less than FD.
Instead go for mutual fund investment. Connect with a professional to start investing in mutual funds to get 12% annual returns.

Let me know if you need more help.

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Ans: Hello

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My 12 year old son has 2 parallel lines of teeth. One front and the other behind. So far in the behind only 2 teeths are there one in each side. Will this cause any serious issues for him? He has speech problem. Could this be the reason? Does he need to take any immediate corrective procedure?

Ans: Hello
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Ans: Hello & thanks for writing to me.

Your portfolio is well-allocated across flexicap, large & midcap, small cap, BAF and gold, offering a balanced mix of growth, stability and diversification.

Given your 10-year horizon, keeping a higher allocation towards flexicap and large & midcap funds is appropriate, as these categories help manage volatility while still capturing long-term growth. The small-cap exposure adds additional long-term growth potential, while the Balanced Advantage Fund (BAF) provides stability through its dynamic asset allocation. Your gold allocation further supports diversification and can cushion the portfolio during equity market stress.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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