Saral Pension

Life shaped by your choices,

Supported by us

Retirement deserves simplicity, clarity, and financial continuity.

Know about SBI Life - Saral Pension

UIN: 111N130V03 | Product Code: 2R

Regular Income

Income Payouts with Return of Purchase Price

Loan and Surrender Facilities

Know Your Life Insurance Plan

Features

Steady Income in Retirement: SBI Life - Saral Pension provides the security of a Standard Immediate Annuity Plan, offering you a consistent income stream throughout your retirement years, ensuring that your financial needs are met with confidence.
 
Flexible Options: SBI Life - Saral Pension offers the flexibility to customise the plan based on your personal circumstances and the needs of your loved ones. You can choose between Single Life (just you) or Joint Life (you and your spouse) Annuity options, ensuring that your family always has the support they need.
 
Access to Loan: Moments arise when having support in place makes all the difference. SBI Life -Saral Pension includes a loan facility, offering access to funds when circumstances require it. The security you have planned for remains within reach, even when the unexpected arrives.
 
Support When Circumstances Change: In times of need, having options provides clarity and relief. Should you be diagnosed with a specified critical illness, SBI Life - Saral Pension allows you to avail the surrender option, ensuring support remains accessible when circumstances change.

Advantages

Financial Independence: SBI Life -Saral Pension helps you step into retirement with confidence and security. You can embrace the life you've always aspired to, knowing your financial future is secure.
 
Reliable Income: With a steady income, SBI Life - Saral Pension ensures your expenses are covered. The lifestyle you cherish continues seamlessly throughout your retirement years.
 
Flexibility: SBI Life - Saral Pension gives you the freedom to choose the income plan that fits your needs and provide for your loved ones, ensuring your future aligns with what you have envisioned.

Plan Benefits

Annuity Options:

The annuity payout will continue at a guaranteed rate throughout the life of the annuitant. The Annuity Benefits depend upon the Annuity Option and mode of annuity payment chosen, and annuity rates prevailing at the time of purchase of the annuity. 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 the 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 the death of the last survivor:

Annuity is payable in arrears at a constant rate until the primary annuitant is alive.

On the death of the primary annuitant, if the spouse is surviving, the spouse continues to receive the same annuity amount for life until his/her death.

On the death of the last survivor, the purchase price shall be payable to the nominee/legal heirs.

If the spouse pre-deceases 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 to be paid whilst issuing/re-issuing the annuity contract, to secure the benefits under the policy.

#Purchase Price will mean Premium 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.

Downloads

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

• Product Brochure/Prospectus

• Product Guide

• Policy Document

• Customer Information Sheet (CIS)
 

Who Can Buy?

  Minimum Maximum
Age at Entry* (as on last birthday) 40 Years 80 Years
Premium Such that the minimum annuity installment can be paid as per the annuity payment mode. No limit, as per Board Approved Underwriting Policy
Minimum Annuity Payout(per installment) Monthly: 1,000 Half-Yearly: 6,000 No limit, as per Board Approved Underwriting Policy
Quarterly: 3,000 Yearly: 12,000
Premium Payment Term Single Premium
Annuity Payment Mode Monthly or Quarterly or Half-Yearly or Yearly

*In all the above instances for Joint life annuities the age limits apply to both lives.

Saral Pension

Calculate Your Premium

Every chapter of your life comes with its own responsibilities. The right life insurance plan grows with you, supporting your goals and the ones you care about.

Based on your age, coverage and policy duration discover a premium that fits your life.

Calculate Premium
1 Personal Details

Select Gender

Discount

2 Explore the Policy option...
Source of Business
  • NEW PROPOSAL
  • VESTING/DEATH/ SURRENDER OF EXISTING SBI LIFE'S PENSION POLICY
  • OPEN MARKET OPTION (ANY OTHER LIFE INSURANCE COMPANY PENSION POLICY)
Channel Type
  • Online channel
  • Web Aggregator
  • Broker
  • Corporate Agents
  • Individual Agents
  • Direct Marketing
  • Insurance Marketing Firms(IMF)
  • POS
3 Choose your payment options.
Mode Of Annuity Payout
  • Monthly
  • Quarterly
  • Half Yearly
  • Annual

Annuity Option

Second Annuitant (if Opted)...



Select Gender


4 A little information about the premium options...

Premium Amount (Inclusive taxes)

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Annuity Payout Amount
Annuity frequency
Purchase Price

Annuity Option
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Frequently Asked Questions

The key features of the SBI Life - Saral Pension are as follows:

  • Guaranteed lifetime income that ensures a steady income stream throughout your retirement
  • Option to include spouse in joint annuity plan
  • Nominee benefits that offer financial security to your loved ones in case of any unfortunate event
  • Option to avail the loan facility in case of financial need
  • Option to avail the surrender facility on being diagnosed with specified critical illness.
  • Simple, transparent, and easy-to-understand structure, designed for all.

The SBI Life - Saral Pension is designed to provide you with a reliable, long-term income during retirement. It offers you the confidence that comes with independence, ensuring a, steady income stream that will support you throughout your life. Your retirement continues as you have envisioned, with support that remains steady over time. Explore how this product can work for your retirement years by speaking to our experts here link.

The SBI Life - Saral Pension offers flexible annuity options that ensure reliable, lifelong income. Choose life annuity with 100% return of purchase price, or joint life last survivor annuity with 100% return of purchase price for you and your spouse. The people who depend on you remains supported, with income that continues and security that stays in place. Find the premium option that aligns with your life and your loved ones with our premium calculator.

To check the status of your SBI Life - Saral Pension policy, simply log in to our SmartCare app. There, you can view all your policy details, payment history, and updates. Alternatively, you can contact our customer support team or use your policy number to track your status via SMS or email.

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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.
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