Annuity Plus Plan - Buy SBI Life Insurance Smart Retirement Plan
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SBI Life - Annuity Plus

UIN: 111N083V11

Product Code: 22

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Annuity Plus insurance Premium Details

Live independently
at every stage with
a regular income

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An individual, non-linked, non-participating, general annuity product.

Lead a financially independent life, at every life stage, with SBI Life – Annuity Plus which provides you a regular income to maintain, not just your lifestyle but your family’s happiness too.

Key Benefits:
  • Guaranteed Lifetime regular income^ for you & your spouse from age 40
  • Choose from a wide range of 14 annuity options on one-time premium payment
  • Benefit of higher annuity payouts for large premium

^Annuity payout from as early as age 40 years for other than Product Conversion, Purchase from NPS Corpus & from QROPS Corpus.
Option to choose annuity payouts frequency: monthly or quarterly or half-yearly or yearly.

Highlights

Annuity Plus Plan

A traditional, non-participating immediate annuity plan

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Features

 

  • Regular income for lifetime
  • Fixed annuity from date of issuance
  • Choice of adding a family member
  • Wide range of annuity options
  • Annuity payout frequency options

 

Advantages

 

Security

  • Financial freedom to enjoy your retirement

Reliability

  • Regular income to meet your expenses

Flexibility

  • 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
  • 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  taxes, other statutory levies if any) under the policy

2Balance Capital = Premium ((excluding  taxes, 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

 

Tax Benefits*


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 risk factors, terms and conditions of the SBI Life – Annuity Plus, read the following documents carefully.

Annuity Plus insurance Premium Details
*All references to age are age as on last birthday.

NW/22/ver/01/01/22/WEB/ENG

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.


*Tax Benefit:
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. For further details click here. Please consult your tax advisor for details.

The Annuity Benefits depends upon the Annuity Option and mode of annuity payment chosen by the annuitant and annuity rates prevailing at the time of purchase of the annuity, will be paid to the annuitant(s).