SBI Life -Retire Smart Plan | One of the Best Retirement Policy in India
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SBI Life - Retire Smart

UIN: 111L094V01

Product Code: 1H

Retire Smart Pension Plan India

Smart present, smarter future.

  • Safeguarding against market volatility through the 'Advantage Plan'
  • Minimum assured maturity amount
  • Assured benefits on extended policy terms for in-force policies
A non-participating unit linked pure pension plan

"The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year"


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'.

Are you ready to retire without worry? Now cherish your golden years with proactive and thorough planning.

Enjoy an assured maturity benefit that secures your investment from market volatility, with SBI Life – Retire Smart. Secure your future by creating a retirement corpus with systematic investments during your earning years.

SBI Life - Retire Smart plan provides –
  • Security – by safeguarding your retirement years
  • Reliability – through an assured retirement corpus
  • Flexibility – to pay premiums regularly or for a limited period

Enter your details in our customized benefit illustrator to determine the annuity amount that you will enjoy after retirement, for the chosen term and premium amount.

The foundation of a good retirement is planning. Start building that foundation today!

Highlights

SBI Life Retire Smart Pension Plan

A non-participating unit linked pure pension plan

Kanika, a 55-year-old, is thankful to her younger self for investing in a pension plan that allows her to be financially independent even after retirement.

Enter the required information in the form fields below, and see how you too can save enough to retire happily with SBI Life – Retire Smart.

Name:

DOB:

Gender:

Male Female

Let's finalize the policy duration you are comfortable with...

Policy Term

10 35

A little information about the premium options...

Premium Frequency

Premium Amount

2,500 No Limit

Premium Payment Option

Regular  LPPT

Premium Payment Term

No. of years elapsed since inception

5 35

Reset

Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment Term


Policy Term


Maturity Benefit

At assumed rate of returns** @ 4%


or
@ 8%

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Features

  • Lump sum corpus at vesting
  • Assured benefits (Condition apply#) of up to 210% of annual premium
  • Flexible premium options

Advantages

Security

  • Enjoy protection and creation of a sufficient retirement corpus to finance your dream retirement
Reliability
  • Boost your corpus through assured benefits

Flexibility

  • Extend vesting age according to your changing requirements
  • Choose to pay premiums as per your financial capabilities

Avail tax benefits*

#this is applicable for policy term of 35 years and provided the policy is in-force. Guaranteed addition would not apply to policies where vesting date has been deferred without payment of further premium

Maturity/Vesting Benefit:


On completion of policy term, you will receive the Higher of (Fund Value Plus Terminal Addition or 101% total premiums paid).
You have the following options on Maturity / Vesting:
  • To purchase immediate annuity, from the entire policy proceeds
  • To purchase a single premium deferred pension product, from the entire policy proceeds
  • To purchase immediate annuity with an option to commute up-to one-third of the policy proceeds, as per current Income Tax rules
  • To extend the accumulation period or defer the vesting date provided you are below age of 55 years at vesting. The maximum extended period will be up to age 80 years.

Note - In case the eligibility criteria of the approved immediate annuity product are not met (e.g. minimum annuity amount) the vesting benefit will be paid in lump sum.

Death Benefit:


In the unfortunate event of death of the Life Assured, Higher of (Fund Value plus Terminal Addition or 105% of total premiums paid till the time of death), is payable.

The beneficiary can use the death benefit amount, as per the below mentioned options:
  • Receive the entire proceeds as lump sum
  • Utilize the entire proceeds of the policy or part thereof for purchasing an annuity, at the then prevailing rate, provided eligibility criteria of the approved immediate annuity product is met (e.g. minimum annuity amount or age criterion).

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.

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 – Retire Smart, read the following documents carefully.

^All the references to age are age as on last birthday.

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

**Assumed rates of returns @4% and @8% p. a., are only illustrative scenarios at these rates after considering all applicable charges. These are not guaranteed and they are not higher or lower limits of returns. Unit Linked Life Insurance products are subject to market risks. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans and their future prospects or returns.

Unit Linked Life Insurance products are different from the traditional products and are subject to market risks. The premium paid in Unit Linked policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder is responsible for his/her decisions.

SBI Life Insurance Co. Ltd. is only the name of the insurance company and SBI Life – Retire Smart  is the name of the unit linked Life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risk and applicable charges from your Insurance Advisor or the intermediary or the policy document from the insurer.

The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects or returns.

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

*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. 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