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SBI Pension Plan
|SBI Pension Plan is specially designed to provide financial freedom to those individuals who are finally looking to get retired from their lifelong job. A variety of SBI Bank pension plan scheme is made available by SBI Life to different type of individuals with unique financial ability. SBI Life Insurance is one of the leading providers of insurance policies and products in India. It is a joint venture between BNP Paribas Assurance and State Bank of India, the largest bank in the country. Having a pension plan from SBI will allow you to save money that you can get as regular income after your retirement.
SBI Pension Plans
An SBI pension or retirement plan comes with a wide array of benefits and converage that allows low and medium income individuals to enjoy financial freedom after thier retirementState Bank of India offers several pension plans in India that eligible customers can obtain without facing much difficulty. However, it is advisable for the customers to have prior knowledge of all the plan details in order to choose the one that suits them best. The following are some of the best State Bank of India pension plans.
- SBI Life Unit Plus III™ Pension
- SBI Life Horizon™ III Pension
- SBI Life Immediate Annuity
SBI Life Unit Plus III™ Pension
Unit three Pension Plan introduced by SBI is a unit linked non-participating pension plan which guarantees that you get regular income after your retirement. Exclusive features of Unit Plus iii pension fund includes;
- Guaranteed 5% additions every year from 6th policy year onwards
- No premium allocation charges starting from the 6th year thereby enabling you to enhance your fund value
- Dual benefit of regular income and market linked returns
- Complete flexibility to either decrease or increase the premium
- Enhanced investment opportunities with 8 Dynamic Fund Options that include Top 300 Pension Fund and Index Pension Fund
- Enjoy single premium payment or at regular intervals
SBI Life Horizon™ III Pension
Horizon iii pension is considered as one of the best pension plans provided by SBI. Being a flexible unit linked pension plan, it offers an opportunity to receive higher market-linked returns. This SBI life insurance pension plan comes with features like automatic asset allocation and options for active fund management. With this pension scheme, customers can either obtain a pure pension plan or achieve added protection through two new riders - SBI Life Criti Care 13 Rider and SBI Life Income Sustainer Rider. Moreover, one can enhanced his fund value as there will be no premium allocation charges beginning from the 4th policy year.
SBI Life Immediate Annuity
State Bank of India introduce Immediate Annuity plan which is specially designed to cope with the annuity needs of the existing Pension Policy holders. Policy holders are just required to choose their desired annuity option and pay the purchase price in order to commence the annuity of the required amount. SBI offers 6 annuity options and members can choose their annuity term according to their needs. The annuity rates that are decided at entry time will remain the same for the rest of the policy term.
For further details on SBI pension plan form, Calculator and plan review, kindly visit the official website of the bank.