SBI Life – Saral Pension
UIN: 111N130V04
Product Code: 2R
YOUR LIFE,
LIVE IT UP
Liberate yourself and live the life you always wanted, even after retirement with SBI Life - Saral Pension that provides you with regular income, with return of purchase price, without letting you make any compromises. The plan offers financial independence in just a few simple steps, to live a happy retired life.
Key Benefits:
- Maintain current lifestyle, post retirement, with Guaranteed Regular Income
- Guaranteed Income payouts with return of purchase price
- Loan and Surrender facilities available for financial emergencies
Get financial independence in just few simple steps to live a retired life you have always wanted.
Highlights
A non-linked, non-participating, individual immediate annuity plan.
Features
- Security for your retirement with a Standard Immediate Annuity Plan.
- Choose from available return of premium options: Single Life or Joint Life Annuity.
- Option to avail the loan facility in case of financial need.
- Option to avail the surrender facility on being diagnosed with specified critical illness.
Advantages
Security
- Financial independence to live a happy Retirement Life
Reliability
- Regular income to take care of your Expenses
Flexibility
- Freedom to choose from Return of Premium Options – Single Life or Joint Life Annuity.
Annuity Options:
The annuity payout will continue at a guaranteed rate, throughout the life of the annuitant. 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). As an annuitant, you may choose the following life annuity options:
1. Life Annuity with Return of 100% of Purchase Price#(ROP): Annuity is payable in arrears at a constant rate throughout the life of the Annuitant.
- On death of the Annuitant, all future annuity payouts cease immediately and the purchase price is refunded to the nominee/legal heirs.
2. Joint Life Last Survivor Annuity with Return of 100% of Purchase Price#(ROP) on death of the last survivor:
- Annuity is payable in arrears at a constant rate till the primary annuitant is alive
- On death of the primary annuitant, if the spouse is surviving, the spouse continues to receive same amount of annuity for life till his/her death.
- On the death of last survivor the purchase price shall be payable to the nominee/legal heirs.
- If the spouse has pre-deceased the primary annuitant, then on the death of the primary annuitant, the Purchase price shall be payable to the nominee / legal heirs.
Note: - The premium is the amount exclusive of applicable taxes to be paid whilst issuing/re-issuing the annuity contract, to secure the benefits under the policy.
#Purchase Price will mean Premium (excluding applicable taxes, other statutory levies if any) under the policy. The term Purchase Price and the Premium are used interchangeably.
Tax Benefit:
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 information. Please consult your tax advisor for details.
For more details on risk factors, terms and conditions of SBI Life – Saral Pension, read the following documents carefully.
2R/ver1/06/24/WEB/ENG
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
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).
Tax Benefit:
You may be 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.