What Is The Sbi Life Saral Pension Plan

Pension is an important income source for individuals who are nearing retirement or have attained retirement. It provides for most of the financial needs post-retirement. Considering this, the State Bank of India life insurance launched a pension plan that is specifically designed to meet the needs of the working class and help them to secure a regular source of income after retirement.

What is SBI Life Saral Pension Plan? 

The SBI Life Saral Pension Plan is an individual participating non-linked traditional pension plan. This plan offers a guaranteed bonus for the first 5 years and has a concept called Simple Reversionary Bonus which is applicable after completion of 5 years. This remains effective throughout the policy term.

Main Features of SBI Life Saral Pension

• Investors can avail of additional life cover by using rider options.
• Investors can receive simple reversionary bonuses throughout the policy term.
• The plan comes with the option to extend the accumulation period.
• Investors can also defer the vesting period.
• Provides ensured protection for investor’s family through income during the investor’s retirement years.
• Guaranteed Simple Reversionary Bonuses for the first 5 years for active policies. Calculated @ 2.50% for first three years and @2.75% for next two years

Eligibility Criteria for SBI Life Saral Pension Policy