SBI Life Annuity Plus Plan

SBI Life Annuity Plus, a traditional, non-participating immediate Annuity Plan, which offers you a comprehensive range of Annuity Options along with inbuilt flexibilities, providing you an opportunity to always maintain your standard of living. It also gives you complete freedom to indulge in life's necessities without any compromises.

Key Features

  • Benefit of higher Annuity Rates for large premium
  • Additional Rider benefit at affordable costs
  • Flexibility to advance your Annuity Payouts

Benefits

  • Maturity benefit
Being a pure Immediate Annuity Plan, there is no Maturity Benefit.
  • Death benefit
In case of death of the Annuitant, it totally depends on the annuity option selected.
  • Income Tax benefit
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and 1/3rd of the Maturity Proceeds are tax free under section 10(10)A subject to fulfilment of terms and conditions.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 40 80
SUM ASSURED - NO LIMIT
PREMIUM PAYEMENT TERM SAME AS POLICY TERM
PAYMENT TERMS ANNUAL, SEMI-ANNUAL, QUARTERLY, MONTHLY

What if?

  • I am unable to pay on time
Being a Single Premium Plan, there is no further requirement of premium payment.
  • I stop the payment
There are no Surrender Benefits in this plan.
  • I wish to take a loan
Loan facility is not available in this plan.

Exclusions

  • There are no exclusions for this policy.