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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 –
Note: All Information has been sourced from the official website of SBI Life Insurance
This unique plan is aimed at building a corpus post retirement. The salient features of this plan are-
Following are the benefits of purchasing SBI Life Retire Smart Plan
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:
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:
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.
Following are the Eligibility details of SBI Life Retire Smart Plan.
|Entry Age||Min: 30 years||Max: 70 years|
|Maturity Age/Vesting Age||Min: 40 years||Max: 80 years|
|Policy Term||10, 15 to 35 years (both inclusive)|
|Premium Paying Term||Regular Premium - Same as policy term|
|5/8 years- Term of 10 years|
|5/8/10/15 years - Term of 15- 35 years (both inclusive)|
Following are the premium details of SBI Life Retire Smart Plan
|Premium Frequency||Yearly/ Half Yearly/ Quarterly/ Monthly|
|Minimum Premium Amounts (x100)||Premium Frequency||Limited Premium (₹)||Limited Premium (₹)|
|Maximum Premium Amount (x100)||No Limit|
The following list of documents are required to buy 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.