Do you have a vision for your life post retirement? Have you planned your investments to make your dream retirement a reality?
- SBI Life – Annuity Plus can help you.
- With SBI Life – Annuity Plus, you receive a comprehensive range of annuity options on just a single premium payment. Thus, you are assured of regular annuity/pension for the rest of your life.
This retirement scheme offers –
- Security – through steady retirement income
- Reliability – fixed annuity/pension throughout your life
- Flexibility – comprehensive range of annuity options
Some of the amazing features and advantages of this policy:
- Regular income for lifetime
- Fixed annuity from date of issuance
- Choice of adding a family member
- Wide range of annuity options and choice of including SBI Life – Accidental Death Benefit Rider
- Annuity payout frequency options
- Financial freedom to enjoy your retirement
- Regular income to meet your expenses
- Secure annuity/pension for a family member in case of an eventuality
- Receive periodic income as per your preference
- Enjoy the option of advancing your annuity
Some of the SBI Life – Annuity Plus Policy benefits are as follows,
Wide Variety of Annuity Options available:
Life Annuity (Single Life): Annuity payout at constant rate, through-out the life of the annuitant. You may choose from following options:
- Lifetime Income
- Lifetime Income with Capital1 Refund
- Lifetime Income with Capital1 refund in parts
Lifetime income with Balance Capital2 Refund:
Annuity is payable at a constant rate throughout the life. On death, the Balance capital (in case positive) will be paid.
Lifetime income with Annual Increase of 3% or 5%:
Annuity payout increases at a simple rate of 3% or 5% p.a. for each complete year and is payable throughout the life of the annuitant. All future annuity payouts cease immediately on death and the contract terminates’
Lifetime income with certain period of 5, 10, 15 or 20 years and life thereafter:
- Annuity is payable at a constant rate for a minimum fixed period of 5, 10, 15 or 20 years; and for life thereafter.
Life Annuity (Two lives): The annuity payout will continue at a constant rate, throughout the life of the annuitants. You may choose from below options:
- Life and Last Survivor – 50% or 100% Income
- Life and Last Survivor – 50% or 100% Income with Capital1 Refund
NPS – Family Option: This option is available specifically for NPS subscribers only, for more details kindly refer the NPS flier.
- Capital will mean Premium (excluding rider premium and taxes, cess, GST, other statutory levies if any) under the policy
- Balance Capital = Premium ((excluding rider premium and taxes, cess, GST, other statutory levies, if any) – Annuity payouts made till date. In case this is negative, no death benefit will be payable.
- Annuity payable as per the annuity option chosen, for detailed benefits under each option kindly refer the product brochure
Rider exclusion: Please refer to sales brochure for the SBI Life – Accidental Death Benefit Rider (UIN: 111B015V02) for details
To know more about the terms and conditions of the SBI Life – Annuity Plus, read the following documents carefully.
- All references to age are age as on last birthday.
One important aspect is Tax Benefits:
- Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
- You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.