SBI Life - Retire Smart is a retirement pension plan which assists pensioners to save systematically and to make enough retirement corpus. It's a unit-linked plan that takes care of the fund accumulations of policyholder at maturity.
Peaceful Post-Retirement Life
Tax Free Regular Income
Wealth Generation to beat Inflation
|
Minimum |
Maximum |
Age limit (Entry) |
30 |
70 |
Maturity/Vesting age |
40 |
80 |
Policy Term |
10 |
35 |
Premium Range |
For Regular Premium: Monthly: Rs 2,500 Quarterly: Rs 7,500 Half-yearly: Rs 15,000 Yearly: Rs 24,000
For Limited Premium: Monthly: Rs 5,000 Quarterly: Rs 10,000 Half-yearly: Rs 20,000 Yearly: Rs 40,000 |
No limit |
Helpful Resources : Types of Annuity | Annuity Calculator
Maturity Benefit: The policyholder will receive the Fund value plus Terminal addition or 101% of total premiums paid. There are following options on Maturity/Vesting:
Death benefit: Higher of the fund value plus terminal addition or 105% of total premiums that are paid till the time of death is payable. There are following options for beneficiary to use the death benefit amount:
Tax Benefits: Paid premiums under the policy are eligible for tax deduction under section 80CCC of the Income Tax Act, 1961. On discontinuing the policy or on vesting, the policyholder can commute upto one third of the policy proceeds as per the Income Tax Act.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
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