SBI Life - Saral Pension Plan | One of the Best Retirement Policy in India
close

By pursuing your navigation on our website, you allow us to place cookies on your device. These cookies are set in order to secure your browsing, improve your user experience and enable us to compile statistics  For further information, please view our "privacy policy"

SBI Logo

Join Us

Tool Free 1800 22 9090

SBI Life – Saral Pension

UIN: 111N088V02

Product Code: 1E

Retire Smart Pension Plan India

Keep achieving milestones even after retirement.

  • Build retirement corpus
  • Regular simple reversionary bonuses
  • Life Cover through optional rider
Individual, Participating, Non Linked, Traditional Pension Plan

This is a Pension Product. Benefits by way of surrender, complete withdrawal or maturity/vesting will be available in the form of annuities except to the extent of commutation of such benefits as allowed under the Income Tax Rules'.

While it's important to ensure you're living your life to the fullest today, have you considered how important it is to maintain the lifestyle in the future?

Save enough to secure the golden years of your life. Make sure your future is as comfortable as your present with the SBI Life – Saral Pension. Through regular bonuses, you can now meet your post-retirement financial needs conveniently.

This retirement policy provides –
  • Security – corpus to meet your retirement needs
  • Reliability – with simple reversionary bonuses
  • Flexibility – through deferment of vesting date or extension of accumulation period

Say goodbye to tension and hello to pension.

Try our benefit illustrator below and let us help you secure your family and you.

Highlights

SBI Life Retire Smart Pension Plan

Individual, Participating, Non Linked, Traditional Pension Plan

Mr. Gupta, a retired individual, is enjoying his financial freedom thanks to this pension plan.

Enter your personal details on the form field below to see how you may enjoy security in your golden years with SBI Life – Saral Pension.

Name:

DOB:

Gender:

Male Female

Discount:

Staff Non-Staff

J & K Resident:

Yes No

Choose your policy term...

Policy Term

5 40

A little information about the premium options...

Premium Frequency

Sum Assured

1 Lakh No Limit

Let's finalize the rider options...

SBI Life - Preferred Term Rider (UIN: 111B014V02):

Term for SBI Life - PTR

5 30

PTR Sum Assured

25,000 50,00,000

Reset

Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment Term


Policy Term


Maturity Benefit

At assumed rate of returns** @ 4%


or
@ 8%

Give a Missed Call

Features

  • Build a retirement corpus and get an option of life cover through SBI Life - Preferred Term Rider
  • Receive simple reversionary bonuses throughout the policy term
  • Option to extend the accumulation period
  • Option to defer the vesting date

Advantages

Security

  • Ensured protection for your family
  • Income during your retirement years

Reliability

  • Build your retirement corpus through regular simple reversionary bonuses throughout the policy term, including Guaranteed simple reversionary Bonuses for first 5 years for inforce policies; @ 2.50% for first three years and @2.75% for next two years

Flexibility

  • Extend the accumulation period or defer the vesting date, provided you are below 55 years of age to build your retirement corpus.
  • The maximum extended period will be up to age 70 years.

Avail tax benefits*

Vesting Benefit:


On attaining the vesting age, the vesting benefit equal to the Sum Assured plus Vested Simple Reversionary bonus plus Terminal bonus, if any, will be paid by us. You have the following options:
  • To purchase immediate annuity from the entire policy proceeds
  • To purchase immediate annuity with an option to commute upto one-third of the policy proceeds as per current Income Tax rules
  • To utilize the entire proceeds to purchase a Single premium deferred pension product
  • To extend the accumulation period or defer the vesting date, provided you are below age of 55 years on vesting. The maximum extended period will be up to age 70 years

Death Benefit:


In an event of death of the policyholder, the death benefit proceed will be higher of total premiums paid accumulated at an interest rate of 0.25% p.a. compounded annually plus vested reversionary bonus plus terminal bonuses, if any, or 105% of total premiums will be paid to the nominee. The nominee will have the following options:
  • To receive entire proceeds as lump sum
  • Utilize the entire proceeds of the policy or part thereof for purchasing an annuity at the then prevailing rate. The annuity should be purchased from SBI Life only. The annuity rates available for the purchase of this annuity will be based on the prevailing annuity rates on the immediate annuity product.

Rider Benefit:


You may avail of life cover through SBI Life – Preferred Term Rider (UIN111B014V02)

Tax Benefits*:


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.

These are only the brief features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

For more details on risk factors, terms and conditions of SBI Life – Saral Pension, read the following documents carefully.

^All the references to age are age as on last birthday.
#3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card)
For Monthly Salary Saving Scheme (SSS), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction
**Sum Assured is always greater than or equal to Total premiums paid accumulated at an interest rate of 0.25% p.a. compounded annually

1E.ver.04-10/17 WEB ENG

**Assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates after considering all applicable charges. The bonus rates are assumed constant during the bonus accrual period, where as actual bonus could vary, depending on the investment experience of the Company. These are not guaranteed and they are not higher or lower limits of returns. Returns are dependent on a number of factors including future investment performance.

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 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. You may visit our website for further details here. Please consult your tax advisor for details.

Call us toll free at

1800 22 90 90(Available from 9:00 am to 9:00 pm everyday)

E-mail us at

info@sbilife.co.in