An individual, non-linked, non-participating, general annuity plan.
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 celebrate your golden years without any financial worries
With SBI Life – Annuity Plus, you have a comprehensive range of annuity options to choose from on just a single premium payment. Thus, assuring you 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
Try our Benefit Illustrator below to see how this plan can help you prepare for your dream retirement.
SBI Life –Annuity Plus
National Pension System
A traditional, non-participating immediate annuity plan
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
Avail tax benefits*
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 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.
1Capital will mean Premium (excluding rider premium and taxes, cess, GST, other statutory levies if any) under the policy
2Balance 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
Income Tax benefits/exemptions are as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details here. Please consult your tax advisor for details.
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. For more details on riders, terms and conditions, please read rider brochure.
For more risk factors, terms and conditions of the SBI Life – Annuity Plus, read the following documents carefully.
*All references to age are age as on last birthday.
22.ver.01-08-19 WEB ENG
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
For more details on riders, terms and conditions, please read rider brochure.
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. You may visit our website for further details here. Please consult your tax advisor for details.