SBI Life Unit Plus II Pension: SBI Life – Unit Plus II Pension is a reliable plan that sees to it that you are provided with a regular income during your retirement life and also ensures that your retired life is spent in peace and comfort.
You can choose your retirement age anything between fifty years to seventy years. You are also permitted to choose if you want to pay your premiums on a regular basis or in a single payment.
By buying SBI Life – Unit Plus Child Plan you have the benefit of,
You have two choices of plans to choose from. They are the Pure Pension and the Pension cum Life Cover.
You do not have to undergo any medical examination in order to invest your money in the Pure Pension plan.
You are given the facility of enlarging your regular payment premium if you wish to do so. You can also make special additions to your investment any time during the policy term in order to increase your fund value.
There are two riders available in this plan. They are the SBI Life – Accidental death and Total Permanent Disability Rider and the SBI Life – Critical Illness Rider.
If you have opted for any of these riders at the time of buying the policy, you can get added benefits that they provide.
There are five investment funds you can choose from. They are Equity Pension Fund, Bond Pension Fund, Growth Pension Fund, Balanced Pension Fund and Equity Optimizer Fund.
This plan offers the death benefit and according to that if death of the life insured takes place during the policy term, and he has chosen the Pure Pension plan, his nominee is eligible to receive the fund value.
If he has opted for the Pure Pension Plan with life cover, then his nominee will receive on his death, the higher of fund value or the sum assured.
On your retirement you have the option of withdrawing one third of your fund value and with the balance amount you can purchase an annuity.
SBI’s Life Unit Plus Pension is a plan that secures your retirement life and helps you to life your retired life with the same standard of living.
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