SBI Life Insurance a renowned name in the life insurance industry. It is a joint venture between India’s biggest bank - State Bank of India and BNP Paribas Cardif which is a leading global insurance company. The company aims to become the most trusted and preferred life insurance company. To attain its goal, the company is offering a wide range of innovative life insurance products to cater to the different needs of customers.
It ensures a high standard of customer satisfaction. The company carries a good claim ratio which makes it a preferred choice for customers.
|Business Line||Life Insurance|
To secure your retirement and to offer required financial assistance during your post-retirement years, SBI Life insurance Company has come out with multiple pension plans.
SBI Life Saral Pension is an individual, non-linked tradition pension plan that comes with multiple benefits to cater to different needs of yours. This plan allows you to live your life to the fullest. This SBI Life pension plan allows you to build a retirement corpus and offer an option of life cover through SBI Life - Preferred Term Rider. It offers a simple reversionary bonus throughout the policy tenure.
|Entry Age||18-65 years|
|Vesting Age||40-70 years|
|Policy tenure||5-40 years|
|Premium||Min. 7500 p.a to no limits|
SBI Life Retire Smart is a non-participating unit-linked pure pension plan that is committed to secure your post-retirement years. SBI Life Retire Smart plan comes out with complete secure, flexible and reliable features. It offers maturity/vesting benefits.
|Entry Age||30-70 years|
|Vesting Age||40-80 years|
|Policy Term||10, 15, 35 years|
|Premium Frequency||Yearly, half-yearly, quarterly and Monthly|
It is an individual, non-linked, non-participating, general annuity plan. This plan comes out with a comprehensive range of annuity options. Thus, assuring you of regular annuity/pension for the rest of your life.
|Entry Age||0-80 years|
|Annuity Payout||Rs.1000- No Limit|
|Annuity Payout Mode||Monthly, quarterly, yearly or half-yearly|
|Max Premium Amounts||No- limit|
SBI life Retirement/Pension plans provide a host of benefits to policyholders. A single premium will get the protection for the policyholder’s entire family. Diverse riders make certain that the policyholder is included regardless of the situation. Some of the benefits are distinctive below:
At SBI Life, it is a commitment to offering a worry-free future so that you can enjoy your present. It makes every effort to ensure that you receive the claim amount that you or your family are entitled to, quickly and easily.
The company offers a simple and hassle-free claim process, all customers can easily file the comfort by log in to the SBI LIfe’s website or through call. The company has a team of experts who can guide you better.
Conventional life insurance products are normally bleak prospects for humans because it forces them to stand their mortality. However, a comfy life after retirement is what all people dream about and must plan in the direction of.
SBI Pension plans are products that provide both - Life coverage and post-retirement profits to look ahead to.
Retirement plans are simply the insurance products for each person who desires to get their life insured and additionally plan for destiny. Those plans assist people to get their future secured, in addition to that of their family.
Fund Value is the total number of units under the funds and the corresponding NAVs.
It is the period between the date of subscription to an insurance-cum-pension policy and the date on which you receive the first installment of pension. Such policies generally prescribe a minimum and maximum limit on the deferment period.
All SBI pension plans are full of amazing benefits and features which make it a preferred option. They do offer regular income, lifetime annuity options, flexibility, advance annuity payout and much more.
Yes, at the time of inception the annuitant may select to advance the annuity payout. However, advancement will be subject to certain conditions.
No, the Loan facility is not available under this pension plan.
Last updated on 26-08-2020