Is my SBI life insurance policy genuine?
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I purchased an SBI Life Smart Wealth Builder policy for myself. So far, I've paid 3 lakhs. According to the policy, I have to pay around 1.5 lakhs annually for 6 years. Today when I checked with the bank regarding the returns on already paid account, the bank claims to have invested my 3 lakhs in the SBI Life Equity Fund, which currently has a value of 3 lakhs. Guide me on how can I verify this? Whether I should continue investing in this policy, or are there better options for life insurance and investment?
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Through SBI Life Customer portal (https://mypolicy.sbilife.co.in/) or SBI Life Easy Access app, you can verify your policy funds, which shows your Net Asset Value (NAV) and fund performance.
Evaluate the policy's past returns and compare them to other investment options like mutual funds and term plans, and then decide whether to continue or diversify the policy.If you are still not able to understand, consult a financial advisor for better understanding, and you can explore other investment possibilities.