SBI Pension Plan Review
SBI Life Insurance Company offers SBI Pension Plan. SBI Retirement Plan or pension plans provide you with a steady income after your retirement. So better choose a best retirement plan that can act as a savior in your golden years. SBI Life Pension plans are designed to provide you a secure and happy retired Life. A Pension plan is usually a type of retirement plan which gives an opportunity to employees to make contribution aside for a future purpose of Living. SBI Life Insurance Pension Plan is less expensive compared to other Pension Plans. The Insured can pay the Premium of SBI Retirement Plan by using SBI Life Insurance Online Payment. You can calculate the premium for the desired plan using SBI Life Insurance Premium Calculator.
The various SBI Life Insurance Company Retirement Plans are SBI Life Annuity Plus Pension Plan, SBI Life Saral Pension plan, SBI Life Retire Smart Pension Plan. As per your requirement, you can select any of the SBI Pension Plan since all these Pension plans are satisfying the needs of people. You can also buy SBI Life Pension plan Online by visiting the official website of SBI Life.
SBI Life Pension Plans
SBI Retirement Plans Key Features
The Key Features vary for different Pension Plan as per the plans opted by the Insured.
- SBI Life Annuity Plus Pension Plan is an Immediate annuity plan without bonus facility.
- An additional prefered Term rider is available in SBI Life Saral Pension plan.
- SBI Life Retire Smart Pension plan allows you to postpone your vesting age.
- You have different annuity plan options available under this plan.
- You can get higher annuity rates for a large premium.
- Flexibility to advance your payouts.
- You can pay premium regularly or for a limited period.
- You have the option to choose a different frequency of annuity payouts-monthly / quarterly / half-yearly / yearly.
Benefits of SBI Life Retirement plan
The Benefits vary for different Pension Plan as per the plans opted by the Insured.
- Maturity Benefit: Being a pure Immediate Annuity Plan, no Maturity Benefit is available in SBI Life Annuity Plus plan.
- Income Tax Benefit: Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under Section 80CCC and 1/3rd of the Maturity Proceeds are tax-free under Section 10(10)A subject to fulfilment of terms and conditions. For more information regarding Tax Benefits, visit www.taxqueries.in.
- Vesting (Maturity) Benefit: When the policy matures, sum Assured + vested simple reversionary bonuses + terminal bonus will be available as Vesting benefit.
- Single Life Annuity: The Annuity will be paid continuously throughout the lifetime of the Annuitant at a guaranteed rate. You may choose any of the following annuitant options as mentioned in the policy.
SBI Retirement Plans
Here we are providing the Key Benefits, Coverages of SBI Pension Plan. You can see the list of SBI Retirement Plans.
- SBI Life Annuity Plus Pension Plan.
- SBI Life Saral Pension plan.
- SBI Life Retire Smart Pension Plan.
The Insured will be covered with extra benefits as per the plan opted. For more details about SBI Life Pension Plans, refer the below section.
Overview of SBI Life Insurance Pension Plan
SBI Life Annuity Plus Pension Plan offers you a different range of annuity options along with its in-built flexibilities. SBI Life Pension Plan is a traditional, non-participating, immediate pension plan. SBI Life Annuity Plus Pension Plan provides you an opportunity to maintain the standard of living. For more information, please refer below link.
SBI Life Saral Pension Plan is designed to meet your requirements after retirement. SBI Life-Saral Pension scheme is an individual participating traditional pension plan with bonus facility. The tenure of the policy is between 10 to 40 years. An additional premium term, rider is available in SBI Life Saral Pension plan. For detailed information, please refer below link.
SBI Life Retire Smart Pension Plan gives 101% of all premiums paid by you on vesting / maturity. This is a non-participating unit linked Insurance plan. You can take the entire amount as lump sum or you can purchase an annuity with some part of the benefit money. Guaranteed additions are paid regularly for the policy term of 15 years or more. For more information, please refer below link.
SBI Pension Plan Related Documents and Posts
Here we are providing related posts of the SBI Life Pension Plan Term. Click the below links, if you want to know the details about the Online Payment, Recruitment, Renewal, Claim Forms, and Documents.
For further information about SBI Pension Plan refer www.sbilife.co.in.