Birla Sun Life Insurance Immediate Income Plan | Key Features |

BSLI Immediate Income Plan that puts your savings into an annuity to give you a regular income in your retirement years.

BSLI Immediate Income Plan is a traditional, non-participating, single premium annuity plan with return of purchase price.

How does the Plan Work?

Step 1: Decide the amount of premium (lump sum amount) you want to pay to purchase the annuity depending on the amount of regular income you wish to receive. This annuity payment is guaranteed for life and depends on the annuity rates prevailing at the time of the purchase of the annuity

Step 2: Choose your annuity payout options from monthly, quarterly, semi annual or annual modes.

Step 3: Choose how would like to receive your annuity from either post dated cheques or through direct credit to your bank account.

This plan is meant for you, if

Your age is at least 50 years and a maximum of 90 years
You are able to purchase the annuity such that you can get a regular income of Rs.1, 000, Rs.3, 000, Rs.6, 000 or Rs.12, 000 for monthly, quarterly, semi-annual and annual mode of annuity payment respectively. There is no maximum limit on the purchase price

Key Features of the BSLI Immediate Income Plan

BSLI Immediate Income plan gives you a guaranteed income over your entire life
In case of unfortunate death of annuitant, 100% of the annuity purchase price (i.e. single premium) will be paid to the nominee
This plan offers convenient annuity payout options – monthly, quarterly, semi-annually and annually from date of purchase
You do not have to go through any medical tests to purchase this plan
You will be eligible for tax benefits under Section 80CCC of the Income Tax Act, 1961

Know about more plans – Birla Sun Life Insurance

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Tags: Birla Sun Life Insurance, RETIREMENT PLAN