SBI Life Retire Smart Plan

SBI Life Retire Smart is a non-participating unit linked pure pension plan offered by SBI Life, one of the most trusted life insurance companies in the country. With this plan, you can secure the golden years of your life 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

Note: All Information has been sourced from the official website of SBI Life Insurance

Following are the benefits of purchasing SBI Life Retire Smart Plan

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.

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

As a policyholder, 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.

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

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Following are the premium details of SBI Life Retire Smart Plan

In order to have a healthy retirement corpus, one must start planning and investing in the early years of one’s life. This is to ensure that he/she stays financially secure when a regular source of income stops flowing in post-retirement. Also, one must have enough funds to secure themselves in any untoward situation taking place in the golden years of life. Hence, SBI Life has introduced Retire Smart, a plan that helps you achieve your life goals, without compromising on your financial security post retirement.

SBI Life Retire Smart is a unique plan designed by one the biggest and most trustworthy insurers of the country, SBI Life Insurance. Given the company’s repute, this is a secure plan that surely takes into consideration the various financial needs of individuals in the later years of their lives and financially secures them accordingly.