SBI Life Retire Smart Pension Plan: Most citizen are working in the private sector and are continuously searching best pension options to invest their salary so they can get a pension for a month after retirement. State Bank of India is providing a SBI Life Retire Smart Pension Plan where employees can invest in this scheme for the long term to get a monthly pension after retirement. This is a pension cum Life Insurance plan where investors will get double the benefits of investing in this SBI Life Retire Smart Pension Plan. Read this article to check the SBI Life Retire Smart Pension Plan eligibility criteria and the benefits after that you can apply for the SBI Life Retire Smart Scheme 2023.
SBI Life Retire Smart Pension Plan is a unit-linked insurance plan (ULIP) that offers life insurance coverage along with the opportunity to save for your future. It is a non-participating plan, which means that the policyholder does not share in the profits of the insurance company. However, it offers a number of features that make it a good option for those who are looking for a flexible and affordable investment option.
Features of SBI Life Retire Smart Pension Plan
- This is a long-term Investment Program that you can apply according to your needs, however, this is flexible for customers to withdraw the insurance after completing 5 years.
- Since this is an ulip program, beneficiaries will get a return with the market value at the time of getting a refund from the company. The companies promise to provide a 101% return on the premium.
- Since this is an SBI Life Retire Smart insurance Scheme beneficiaries will also get death benefits. Nominees can claim very refund of the premium plus they will get 1.5% of the fund value according to the market rates. If the nominee wants to return all the premiums then he will also get 105% paid premiums of the applicant till the date of the death.
- You can also claim tax savings in the Income Tax Department While submitting an income tax return annually for investing in the life insurance.
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SBI Life Retire Smart Scheme Eligibility
- The minimum age of the applicant should be 30 and the maximum age of the applicant should not be more than 60 years at the time of the SBI Life Retire Smart Insurance Scheme online application.
- The age of the maturity will be completed according to the selection plan by the customer but the maximum age to get maturity is 70 years.
- Applicant can select a policy between 10 years to 35 years
- If you want to invest monthly basis then you have to pay 2500 in Regular premium or 5000 in Limited Premium. However, if you want you can pay the whole amount at a single time of a minimum of 1 lakh.
- There is no boundation of maximum investment in this SBI Life Retire Smart Scheme so you can invest accordingly by discussing with the branch manager of SBI
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SBI Life Retire Smart Pension Plan Apply Online
If you are eligible to apply for this future Saving Scheme then you can apply online mode by following this method:
- First of all, visit the official website of SBI Life. https://www.sbilife.co.in/ this is the direct link to visit the official website.
- Now you will reach the new page, Where you have to select the link of the product and after that choose the individual Life Insurance Scheme.
- Now you have to select the filter of retirement plans and after that choose the SBI Life Retire smart Scheme
- You will be redirected to a new page
- After that, you will be redirected to a new page where you have to enter your personal details on the SBI Life Retire Smart Pension Insurance Plan online application form.
- After that, you have to select the Insurance plan according to your category and submit the application form.
After that, the bank will contact you through the mobile number that you have entered on the online application form and you can ask all the questions from the employees of the bank. They will verify your application and after that invite you to the bank to complete the application procedure. Once you have submitted the principal amount for this SBI Life Retire Smart Pension insurance scheme, your. The plan will start and you can get benefit from those days.