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SBI Life Insurance Co. Ltd

Pension


SBI Life Insurance is a joint venture between the State Bank of India (SBI) and France's BNP Paribas Assurance. SBI Life Insurance is registered with an authorized capital of Rs. 2000 crore and a paid-up capital of Rs 1000 crore. SBI owns 74% of the total capital, the remaining with BNP Paribas Assurance.

State Bank of India has the largest banking franchise in India, along with its seven associate banks. With over 14,500 branches across the country, SBI Life has forged a unique multi-distribution model that includes bancassurance and agency sales, leveraging on the existing SBI infrastructure.

SBI's entrenchment in the banking sector in India means that SBI Life can also effortlessly cross-sell its products with the bank's products such as home, car, and, personal loans.

 

4 Insurance Plan available
SBI Life - Lifelong Pensions
  • Ensures financially secured post retired life.
  • Two plans are available - 1) Pure Pension Plan with out life cover. 2) Pension cum life cover.
  • Flexible annuity payment options.
  • A lump sum of 33% of maturity benefits are tax free.
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SBI Life - Horizon II
  • Unit linked pension plan which ensures peaceful and financially sound retirement.
  • Automatic Asset Allocation of funds.
  • Options to choose from three pension funds - Equity Pension Fund, Bond Fund and Money Market Pension Fund.
  • Two plans are available - 1) Pure Pension Plan with out life cover. 2) Pension cum life cover.
  • Option to revive a lapsed policy.

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SBI Life - Immediate Annuity
  • Non-participating immediate annuity plan after paying the purchase price
  • Options to choose from six annuity options.
  • Annuity rates guaranteed for life.
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SBI Life - Unit Plus II
  • Non participating Unit Linked Pension Plan.
  • Option to choose from five investment funds.
  • Accidental Death and Accidental Total Permanent Disability Rider and Critical Illness Rider.
  • Guaranteed additions by way of free allocation of Units.
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Company Trust Note

This Know Your Insurance section covers only those products and sectors that are related to personal finance. The content available here has been collated from existing, publicly available information and are only indicative in nature. They are designed to give the user a general idea of insurers and products. The details given here should NOT be taken as the final word. The user must contact the respective insurer to get full details about any policy or product.

Apnainsurance.com is neither an insurance agent nor an insurance broker. Please consult your personal finance advisor, insurance agent, or broker before taking any decision to buy any insurance product.