saral-pension

www.sbilife.co.
in
Why SBI Life - Saral Pension?
Liberate yourself and live the life you always wanted, even after retirement with SBI Life - Saral Pension that provides you with
regular income, with return of purchase price, without letting you make any compromises. The plan offers financial independence
in just a few simple steps, to live a happy retired life. SBI Life – Saral Pension is a Single Premium Individual, Non-Linked,
Non-Participating, Immediate Annuity Product.
Key Features
• Security for your retirement with a Standard Immediate Annuity Plan.

• Choose from available return of premium options: Single Life or Joint Life Annuity.
• Option to avail the loan facility in case of financial need.
• Option to avail the surrender facility on being diagnosed with specified critical illness.
Eligibility Criteria
Minimum Maximum
Age at Entry* (as on last birthday) 40 Years 80 Years
Premium Such that the minimum annuity installment can No limit, as per Board Approved
be paid as per the annuity payment mode. Underwriting Policy
Minimum Annuity Payout Monthly: ` 1,000 | Half-Yearly: ` 6,000 No limit, as per Board Approved
(per installment) Quarterly: ` 3,000 | Yearly: ` 12,000 Underwriting Policy
Premium Payment Term Single Premium

Annuity Payment Mode Monthly or Quarterly or Half-Yearly or Yearly
*In all the above instances for Joint life annuities the age limits apply to both lives.
Annuity Options
The annuity payout will continue at a guaranteed rate, throughout the life of the annuitant. As an annuitant, you may choose the
following life annuity options. The annuity payout amount would vary depending upon the annuity option chosen:
1. Life Annuity with Return of 100% of Purchase Price*(ROP): Annuity is payable in arrears at a constant rate throughout the
life of the Annuitant.
• On death of the Annuitant, all future annuity payouts cease immediately and the purchase price is refunded to the
nominee/legal heirs.
2. Joint Life Last Survivor Annuity with Return of 100% of Purchase Price*(ROP) on death of the last survivor:
• Annuity is payable in arrears at a constant rate till the primary annuitant is alive
• On death of the primary annuitant, if the spouse is surviving, the spouse continues to receive same amount of annuity
for life till his/her death.
• On the death of last survivor, the purchase price shall be payable to the nominee/legal heirs.
• If the spouse has pre-deceased the primary annuitant, then on the death of the primary annuitant, the Purchase price
shall be payable to the nominee / legal heirs.
Note: The premium is the amount exclusive of applicable taxes to be paid whilst issuing/re-issuing the annuity contract, to secure the benefits under the policy.
*Purchase Price will mean Premium (excluding applicable taxes, other statutory levies if any) under the policy. The term Purchase Price and the Premium are used interchangeably.
Saral Pension
Retirement Apne liye. Apno ke liye.
UIN: 111N130V03
Plans
Sample Annuity Benefits Illustration
Annual annuity payout @ Age - 60 years for Purchase Price of `10 lakh (excluding applicable taxes)
Annual annuity Annuity amount as a %

Annuity Options Death Benefit
amount* age of Purchase price
Life Annuity with Return of 100% of Purchase price (ROP) ` 62,400 6.24 % ` 10,00,000
Joint Life Last Survivor Annuity with Return of 100% of

` 61,578 6.16% ` 10,00,000
Purchase Price (ROP) on death of the last survivor.
*For Joint Life same age has been considered for both the annuitants.
Prohibition of Rebates
Section 41 of Insurance Act 1938, as amended from time to time, states:
a) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or
continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the
commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or
continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectus or
tables of the insurer.
b) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten
lakh rupees.
Toll-free No.: 1800 267 9090 | SMS ‘LIBERATE’ to 56161 | Email: info@sbilife.co.in | Web: www.sbilife.co.in
(Customer Service Timing: 24X7)
SBI Life – Saral Pension is a Single Premium, Individual, Non Linked, Non Participating, Immediate Annuity Product.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a
police complaint.
For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. The Annuity Benefits depends upon the Annuity Option and
mode of annuity payment chosen by the annuitant and annuity rates prevailing at the time of purchase of the annuity, will be paid to the annuitant(s). Trade logo displayed above
belongs to State Bank of India and is used by SBI Life under license. Registered and Corporate Office: SBI Life Insurance Company Limited, Natraj, M V Road & Western Express
Highway Junction, Andheri (East), Mumbai - 400 069. | IRDAI Regn. No. 111 | CIN: L99999MH2000PLC129113
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www.sbilife.co.

Why SBI Life - Saral Pension?

• Security for your retirement with a Standard Immediate Annuity Plan.

Age at Entry* (as on last birthday) 40 Years 80 Years

Premium Payment Term Single Premium

Annual annuity Annuity amount as a %

Joint Life Last Survivor Annuity with Return of 100% of

Section 41 of Insurance Act 1938, as amended from time to time, states:

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

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