Retirement income that arrives steadily, year after year.
SBI Life - Swarna Jeevan Plus is a group annuity plan that converts accumulated savings into regular income during retirement, supporting your members into this new phase of life. This Non-Linked, Non-Participating, General Annuity, Group product offers various annuity options tailored to your member’s post-retirement needs, whether they prefer immediate or deferred income for life or for a defined period. The plan provides flexibility in payout frequencies: monthly, quarterly, half-yearly, or annually, SBI Life - Swarna Jeevan Plus helps your members to unfold their golden years with financial independence and dignity.
Know about SBI Life - Swarna Jeevan Plus
sbil-corp-uin: 111N131V11 | sbil-corp-product-code: 2S
The future security of your employees begins with the decisions you make today. SBI Life - Swarna Jeevan Plus offers a professionally managed and dependable retirement solution, designed to secure your employees' financial future while strengthening stability for your organisation.
With this Non-Linked, Non-Participating, General Annuity Group Product, you can ensure that your employees receive consistent income during their retirement, maintaining stability across changing market conditions. SBI Life - Swarna Jeevan Plus supports your organisation's pension scheme, providing consistency during changing market situations. By establishing a reliable annuity payment structure, you enable your employees to approach their retirement years with confidence and clarity.
SBI Life - Swarna Jeevan Plus helps your organisation manage pension obligations through a balanced and sustainable structure. It makes retirement planning a meaningful expression of appreciation for dedication and contributions, strengthening the bond between employer and employee. Employees gain the assurance of knowing their future is secured and your organisation fulfils its obligations with clarity and precision.
Efficient Risk Management
Secure Pension for Employees
Flexibility in Annuity Options
Know Your Life Insurance Plan
Advantages
Plan Benefits
• Life Annuity
• Life annuity with refund of purchase price#
• Life annuity with refund of balance purchase price#
• Annuity certain for N years and annuity for life thereafter
• Increasing Life annuity (Simple or Compound increasing)
• Deferred Life annuity with refund of purchase price#
• Joint life (last survivor) annuity
• Joint life (last survivor) annuity with refund of purchase price#
• Joint life annuity certain for N years and joint life (last survivor) annuity thereafter
• NPS – Family Income (Option available specifically for National Pension System (NPS) subscribers only)
• Increasing Joint Life (last survivor) annuity (Simple or Compound Increasing)
• Deferred Joint life (last survivor) annuity with refund of purchase price#
The plan benefits would depend on the annuity options selected.
# Purchase Price will mean member premium (excluding applicable taxes, other statutory levies if any) under the member policy
Downloads
• Product Brochure/Prospectus
• Product Guide
• Policy Document
• Membership Form
• Proposal Form
• Annuity Certificate
• Swarna Jeevan Plus - Annuity Certificate - CIS
• Swarna Jeevan Plus Customer Information Sheet (CIS) for MPD
Who Can Buy?
| Minimum | Maximum | |
|---|---|---|
| Age^ at entry (as on last birthday) | Under NPS - Family Income (Option 9): as per NPS Scheme Rules | |
| Under Deferred annuity options: Group Member: 45 years Second annuitant: 18 years Under all other annuity options: Group Member: 30 years Second annuitant: 18 years | Under all other annuity options: Group Member: 85 years Second annuitant: 85 years | |
| Annuity Payout^^ (per installment) | Under NPS - Family Income (Option 9): as per NPS Scheme Rules | |
| Monthly : ₹1,000 Quarterly : ₹3,000Half-yearly : ₹6,000 Yearly : ₹12,000 | No limit, shall be as per Board Approved Underwriting Policy | |
| Deferment Period (in multiples of 1 year) | 1 year | 10 years |
| Premium | For any type of annuity, will be such that the annuitant/s can be paid minimum annuity as per the annuity payment mode chosen. | No limit, shall be as per Board Approved Underwriting Policy |
| Payment Frequency | Single Premium (for all options including Deferred Annuity Option) | |
| Policy Term | Master Policy will continue till the last annuitant is alive and/or annuity is being paid as per the scheme's rule | |
| Tax Benefit | You/member 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. Please consult your Tax advisor for details | |
| Group size | 10 members | No limit |
^All the references to age are age as on last birthday.
^^Amount below this limit will only be offered where the proceeds are from the superannuation fund, administered by SBI Life, where compulsory purchase of annuity is required and to the subscribers of the National Pension Scheme (NPS) regulated by the Pension Fund Regulatory and Development Authority (PFRDA). However, in such cases the minimum annuity will be as per the scheme rules.
The eligible members/annuitants would also have an option to purchase immediate annuity or deferred annuity from another insurer at the then prevailing annuity rate to the extent of 50% of the entire maturity proceeds of the policy net of commutation.
Note: In case of two lives annuity, the maximum age difference allowed between primary and secondary life is 30 years subject to the minimum and maximum entry age of both lives.
తరచుగా అడుగు ప్రశ్నలు
SBI Life - Swarna Jeevan Plus is a Non-linked, Non-participating, General Annuity group product designed to provide stable retirement income for employees. It helps you manage your pension schemes while ensuring that your employees receive guaranteed annuity payments. Both you and your employees benefit from a reliable retirement solution that keeps long-term stability in place. To learn more about the SBI Life - Swarna Jeevan Plus policy, reach out to our experts today.
The SBI Life - Swarna Jeevan Plus policy is primarily designed for employers or organisations who wish to provide their employees with a secure retirement income. It is available to corporate groups, organisations, or trusts looking to offer annuity benefits to their employees as part of a pension or retirement scheme. This helps ensure your employees' retirement years are supported with the same care you bring to building your organisation.
The SBI Life - Swarna Jeevan Plus policy offers several annuity options to meet different needs, including options for lifetime annuity, joint life annuity, and annuity with return of purchase price. These options allow you to tailor the plan to your employees’ specific retirement requirements, providing flexibility in terms of payout structures. Your commitment to their future takes shape through choices that keep their retirement secure. To learn more about about SBI Life - Swarna Jeevan Plus’ annuity options, speak to our experts today.
Yes, it is possible to surrender the SBI Life Swarna Jeevan policy. However, this facility is available only under the Deferred Annuity options, and the policy can only be surrendered during the deferment period.
The minimum and maximum entry ages for the Swarna Jeevan Plus policy vary depending on the annuity option chosen:
- Under Deferred Annuity Options:
- Group Member: Minimum age of 45 years
- Second Annuitant: Minimum age of 18 years
- Under All Other Annuity Options:
- Group Member: Minimum age of 45 years
- Second Annuitant: Minimum age of 18 years
- Maximum Age for All Annuity Options:
- Group Member: Maximum age of 85 years
- econd Annuitant: Maximum age of 85 years
The SBI Life - Swarna Jeevan Plus policy offers tax benefits under Section 80C of the Income Tax Act for premiums paid towards the policy. Additionally, the annuity income received is subject to taxation as per the prevailing income tax laws. You may also benefit from tax exemptions on the death benefit or pension payouts, depending on the specific conditions of the plan. These tax benefits help your employees enjoy their present while building a stronger foundation for their tomorrow.
Yes, under the SBI Life - Swarna Jeevan Plus policy, annuity payments can be received in different frequency options, including monthly, quarterly, half-yearly, or yearly. This flexibility allows employees to choose the payment schedule that best suits their financial planning and needs.
To purchase the SBI Life - Swarna Jeevan Plus policy, you can directly approach us or contact an authorised agent.
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 Options and mode of 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/member 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 adviser for details.