SBI Life Immediate Annuity:

SBI Life – Immediate Annuity as the name goes is a plan designed for policy holders who want to get an annuity payment as soon as they buy it.  This plan provides service to the other pension plan policy holders.

By buying SBI Life – Immediate Annuity you have the advantage of,
You can choose from any one of the six annuity types available and this choice of yours will remain the same throughout the annuity period.

You can choose how you want to pay your annuity, either monthly, quarterly, half yearly or annually.  You are given annuity rates depending on the price of the annuity.  Once you decide your annuity rate at the time of buying it, it will not change at any time during the annuity period.

You can buy an annuity any time within the age of fifty to seventy years of age. According to this plan you need to pay a minimum annuity of only rupees two hundred and fifty.

As mentioned earlier you have six types of annuity choices available in this plan. You can choose to have life annuity with the choice of having an invariable annuity rate.

Another option that is offered by this plan is that you can have annuity paid at an invariable rate throughout life.  But this also includes that on your death, your nominee is eligible to receive a repayment of the price that you have bought the annuity minus the total sum of annuity that has been already paid to you till your death.

There is another option offered in this plan, and if you have opted for it, you will receive an invariable rate throughout life and if you die, your nominee will receive a cent percent repayment of your purchase price.

Another option in this plan offers you the privilege of your annuity being increased one percent or two percent and then this is paid to you during your life as an annuitant.

In another option available in this plan, annuity is sure for you for a period of five years, ten years or fifteen years and then for the rest of your life.  In the last option, on death of the annuitant, his spouse is eligible to receive the life annuity.

SBI’s Life Immediate Annuity is surely a beneficial annuity and a reliable one for you.