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OVERVIEW

‘Met Pension (Par)’ serves as a friendly helping hand so you can stay financially independent even after retirement. It helps you build up a fund for your golden years.

BENEFITS

Death Benefit
In case of death while one is saving for retirement, the death benefit payable is:
1. Return of premiums.

2. Accrued reversionary bonus, if any.

3. Any insurance on the life of the Insured that may be provided by riders to this policy.

Vesting Benefit
On the vesting date, you can take one third of your retirement kitty as a tax-free lump sum and utilize the balance to buy annuities or you can use the entire retirement kitty to buy annuities. The retirement fund on the date of vesting is equal to the Sum Assured plus Guaranteed Additions plus the compounded reversionary bonuses plus the terminal bonus, if any.

Guaranteed Additions
Guaranteed Additions equal to 10% of the Sum Assured are payable at the end of the 15th policy year, in the form of a one-time lump sum addition to the Sum Assured.
Guaranteed Additions are available on policies with terms greater than 15 years.

Annuity Options
You can choose from a wide variety of 8 immediate annuity options at the time of retirement to match your pension requirement.

Policy Loan
No loans are available under this policy.

ADVANTAGES

1. A product which participates in the profits of the company through bonuses.

2. Customize your policy with additional rider benefits.

3. Different premium paying terms to suit various income cycles.

4. Get up to 1/3 rd of your retirement kitty as a tax-free lump sum on retirement.

5. Opportunity to get tax benefits under Sec 80C on your contribution.

6. Choose from amongst 8 annuity options at the time of retirement.

7. Get the benefit of protection while you are saving for retirement.

FEATURES & ELIGIBILITY

RIDERS

MetLife, wants their customers to get the maximum out of their lives. Be it in terms of making their dreams come true or getting the best out of their insurance plan. With this in mind, we created MetMore which allows you to customize your life insurance plan. So that it can be tailored to meet the unique needs of you and your family members. MetMore offers you a choice of riders which are optional contracts that allow you to enjoy additional benefits. They are always attached to the basic policy at the time of purchasing it, and cannot be bought separately or independently. Each rider comes with its own premium rates and separate policy conditions. The premium, nature and characteristics of the rider are based on the base policy to which the rider is attached.

So go on, get more out of life.

Accidental Death Benefit Rider– Death caused due to an accident is one of the most unexpected and painful of all causes of deaths. Due to the high unpredictability of this form of mishap, the benefits offered by the Accidental Death Benefit Rider become all the more important and relieving.

This Rider provides for the payment of an additional amount should death occur as a result of an accident by outward violent and visible means before age 60 years.

Death of the Life Insured must occur within 180 days from the date of the accident.

Death Benefit
In the unfortunate event of death due to an accident the Rider Sum Assured is paid and the policy is terminated.

Critical Illness Rider – No one likes to think about the possibility of suffering a critical illness like cancer, heart attack and stroke etc. It is something that many of us assume will not happen to us. In the daily grind of activities, one ends up never being prepared for such an eventuality. Metlife offers a ‘Critical Illness Rider’ which provides payment of an additional amount on the diagnosis of as many as 10 critical conditions. You can have the money to pay for the illness when you need it rather than after the treatment is over, Thus helping you protect yourself against any health or lifestyle risk.

1. Insured critical illness conditions.
2. Heart attack.
3. Stroke.
4. Cancer.
5. Surgery to coronary arteries.
6. Kidney failure.
7. Major organ transplant.
8. Aorta surgery.
9. Blindness.
10. Heart valve replacement.
11. Paraplegia.

Waiting Period – No amount will be payable under this benefit in respect of critical illness diagnosed within a period of 90 days from the date of issue or reinstatement of the policy.

Survival Period – The benefit amount under this rider is payable only if the insured survives for the period of at least 30 days from the date of diagnosis of the insured critical illness.

Termination of the Critical Illness Rider

The riders will terminate on the earliest of any one of the four mentioned below:
1. On diagnosis of the critical illness within 90 days from the issue date or reinstatement of the policy.
2. Lapse, surrender, conversion of the base policy into paid up insurance.
3. The policy anniversary on which the life assured is aged 60 years (as on last birthday) or the maturity date of the base policy which ever is earlier.
4. The date of first occurrence of the event on which benefit becomes payable.

Waiver of Premium Rider

Waiver of Premium (WOP) Rider is an additional offering which can be purchased by paying a nominal extra premium over and above the base premium. The WOP rider ensures that a policyholder’s future due premiums are waived off.

In case of total and permanent disability of the life assured due to accident by outward, violent or visible means, this rider allows premium on base policy and attached riders, if any, to be waived. Total and permanent disability means that at the time at which disability starts or any time thereafter, the life assured can never be capable of doing something to earn wages, compensation or profits. The total disability should last for at least 6 consecutive months. There is no disability cover during the first 6 months of the policy.

The Premium rider will be terminated on the earlier of:
1. The end of the grace period of the first unpaid premium.
2. The policy anniversary on which the life assured is aged 60 years (as on last birthday) or the maturity date of the base policy which ever is earlier.
3. Death of the life assured.

Term Rider

This is an additional benefit that can be attached to the life insurance coverage to enhance the death cover on your policy.

The term rider allows the payment of an additional amount should death of the life insured occur before 60 years. You can match your changing needs (risk protection) and buy additional insurance at a low cost.

The Term Rider will be terminated on the earlier of:
1. The end of the grace period of the first unpaid premium.

2. The policy anniversary on which the life assured is aged 60 years (as on last birthday) or the maturity date of the base policy which ever is earlier.

3. Death of the life assured.

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OVERVIEW

MetLife offers ‘Met Advantage Plus’ – a Unit-Linked Pension Plan that allows you to effectively and efficiently accumulate for your retirement needs. As the name suggests, it comes with many advantages. You can choose from eight annuity options, two life cover options and get tax benefits under Section 80 C and 10 (10 A). You can buy the plan without any hassles and invest more as you approach retirement by using the top-up functionality. All in all, it’s a plan which works harder for you when you stop working. For one, it ensures that you lead a comfortable lifestyle post retirement.

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER

BENEFITS

Death Benefit
In case of death during the accumulation period, the death benefit payable is:
Under Option A: A guaranteed amount of 110% of the Fund Value is payable to the nominee.
Under Option B: 100% of the Fund Value is payable to the nominee.

Vesting Benefit
On the vesting date, i.e. at the end of the accumulation term,you can take one-third of your retirement kitty as a tax-free lump sum and utilize the balance to buy annuities. Or you can use the entire retirement kitty to buy annuities.

Annuity Options
You can choose from a wide variety of eight immediate annuity options at the time of retirement to match your pension requirement.

ADVANTAGES
1. Advantage of 7 diverse market linked funds to potentially enhance your savings for retirement.

2. Get upto 1/3 rd of your retirement kitty as a tax-free lump sum on retirement.

3. Opportunity to get tax benefits under Sec 80C on your contribution.

4. Choice from amongst eight annuity options at the time of retirement.

5. Get the benefit of protection while you are saving for retirement.

FEATURES & ELIGIBILITY

Riders

No riders are available.

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OVERVIEW

MetLife offers ‘Met Growth’ – a Unit-Linked solution to help you plan for your golden years. It is specially designed to provide financial security for your future requirements. This plan allows you to start planning immediately by ensuring the safety of your first year premiums. It also helps create your retirement fund faster by giving you 100% allocation from the second year onwards, coupled with attractive loyalty additions into your fund. Guaranteed.

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER

BENEFITS

Death Benefit
In the unfortunate event of death, the higher of the Sum Assured or the Fund Value would be payable.
If death of the Person Insured occurs before age 7, the Fund Value plus the regular premium received by us in the first policy year is payable.

Maturity Benefit
On maturity, you will receive the Fund Value including the Guaranteed Loyalty Addition or you can opt for the settlement options.

Loyalty Additions
You get the guarantee of enhancing your wealth creation through guaranteed loyalty additions (up to 120% of the first year annual premium) at the end of the 10th & 15th year plus Guaranteed Additions as a % of the Fund Value.

At the end of the 10th year: 50% of the first year annualized premium

At the end of the 15th year:

As a percentage of the first year annualized premium (in Year 15)

Plus 2% of the Average Fund Value at the end of the 20th year and every 5 years thereafter.

ADVANTAGES

1. Maximize your return potential – 100% of your premium invested in funds of your choice from the 2nd year onwards.

2. Get Guaranteed Loyalty Additions of up to 120%** of your first year premiums

3. Get guaranteed loyalty additions of 2% of your average Fund Value for coverage terms of 20, 25 and 30 years.

4. Liquidity in the form of Partial Withdrawals and Surrender Benefits.

FEATURES & ELIGIBILITY

RIDERS

At MetLife, we want our customers to get the maximum out of their lives. Be it in terms of making their dreams come true or getting the best out of their insurance plan. With this in mind, we created MetMore which allows you to customize your life insurance plan. So that it can be tailored to meet the unique needs of you and your family members. MetMore offers you a choice of riders which are optional contracts that allow you to enjoy additional benefits. They are always attached to the basic policy at the time of purchasing it, and cannot be bought separately or independently. Each rider comes with its own premium rates and separate policy conditions. The premium, nature and characteristics of the rider are based on the base policy to which the rider is attached.

So go on, get more out of life.

Accidental Death Benefit – Death caused due to an accident is one of the most unexpected and painful of all causes of deaths. Due to the high unpredictability of this form of mishap, the benefits offered by the Accidental Death Benefit Rider become all the more important and relieving.

This Rider provides for the payment of an additional amount should death occur as a result of an accident by outward violent and visible means before age 60 years.

Death of the Life Insured must occur within 180 days from the date of the accident.

Death Benefit
In the unfortunate event of death due to an accident the Rider Sum Assured is paid and the policy is terminated.

Critical Illness Rider – No one likes to think about the possibility of suffering a critical illness like cancer, heart attack and stroke etc. It is something that many of us assume will not happen to us. In the daily grind of activities, one ends up never being prepared for such an eventuality. Metlife offers a ‘Critical Illness Rider’ which provides payment of an additional amount on the diagnosis of as many as 10 critical conditions. You can have the money to pay for the illness when you need it rather than after the treatment is over, Thus helping you protect yourself against any health or lifestyle risk.

1.Insured critical illness conditions.
2. Heart attack.
3. Stroke.
4. Cancer.
5. Surgery to coronary arteries.
6. Kidney failure.
7. Major organ transplant.
8. Aorta surgery.
9. Blindness.
10. Heart valve replacement.
11. Paraplegia.

Waiting Period – No amount will be payable under this benefit in respect of critical illness diagnosed within a period of 90 days from the date of issue or reinstatement of the policy.

Survival Period – The benefit amount under this rider is payable only if the insured survives for the period of at least 30 days from the date of diagnosis of the insured critical illness.

Termination of the Critical Illness Rider

The riders will terminate on the earliest of any one of the four mentioned below:
1. On diagnosis of the critical illness within 90 days from the issue date or reinstatement of the policy.
2. Lapse, surrender, conversion of the base policy into paid up insurance.
3. The policy anniversary on which the life assured is aged 60 years (as on last birthday) or the maturity date of the base policy which ever is earlier.
4. The date of first occurrence of the event on which benefit becomes payable.

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SBI Unit Plus II: In case of SBI Unit Plus II Pension Plans, you get to choose between pure pension and pension cum life cover plans with flexibility to increase regular contributions, top up payments and customize the plan by addition of riders.

Single Premium Mode

GBI of SBI Life – Unit Plus II Pension for Pure Pension & Pension cum Life Cover

Regular Premium Mode

GBI of SBI Life – Unit Plus Pension for Pure Pension & Pension cum Life Cover

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

Introduction:

We at SBI Life understand the basic needs for pension plan and give you financial strength to maintain your life style even after the retirement. SBI Life – Unit Plus II Pension plan makes sure that you have regular income after you retire and also helps you to maintain your standard of living.

This is a unit linked pension plan wherein the policyholder chooses an investment period from 5 to 52 years for a vesting age between 50 to 70 years. You can choose to pay either single premium or pay regular premium for the entire policy term. Your contributions are invested into 5 fund options as per your choice.

Key Features:

Choice to invest & control four different funds as per your risk appetite.

Flexibility to choose between two options

• Pure Pension
• Pension cum Life Cover

No medical required for Pure Pension, automatic acceptance facility.

Flexibility to increase regular contribution.

Top up payments: any amount, anytime.

Customize your plan by adding riders.

15 days free look period.

Product type: This is a non participating Unit Linked Pension product.

How does it work?

Choose your vesting age: Any age between 50 years – 70 years.

Choose premium frequency and premium amount

Choose plan option

Option I Pure Pension Plan (For age group 18-65)

Option II Pension Plan with life cover (For age group 18-60)

I n case you have opted for option II, your sum assured will be as mentioned below

For single premium mode

For regular premium mode

Choose your investment funds:

You can invest in 5 investment funds viz. Equity Pension Fund, Bond Pension Fund, Growth Pension Fund, Balanced Pension Fund and Equity Optimiser Fund.

Benefits

Death Benefit: During accumulation phase

• If you opt for option I : Pure Pension Plan Fund value will be paid in lumpsum to nominee.
• If you opt for option I : Pure Pension Plan with life cover. The higher of fund value or sum assured will be paid in lumpsum to nominee.

Guaranteed additions by way of free allocation of units to increase your retirement kitty.

On Vesting: It’s your income; you decide how it works for you. You have choice and flexibility. You can take up to one third of the fund value in lumpsum. tax-free as per current tax law. The tax free limit applicable for the commutated value may change as per change in Income Tax rules

During Annuity Phase: Balance amount has to be used to purchase annuity. The rate at which the amount at vesting date will be converted to an annuity is not guaranteed and will be based on the prevailing immediate annuity rates under the relevant annuity option at the vesting date. Currently SBI Life Insurance offers the following annuity options.

• Life annuity at constant rate.
• Annuity payable at constant rate throughout the life of Annuitant with facility of receiving on death of Annuitant refund of purchase price less the sum total of annuity already paid till date of death.
• Annuity payable at constant rate throughout the life of Annuitant with facility of receiving on death of Annuitant 100% refund of purchase price.
• Annuity increasing at the simple rate of 1%, 2% or 3% per annum as the case may be and payable during the life of the Annuitant.
• Annuity certain for 5/10/15 years as the case may be and for life thereafter.
• Last survivor annuity, whereby upon the death of Annuitant his / her spouse will receive a life annuity, which will be either 50% or 100% of the last annuity amount paid to the Annuitant, as selected. This annuity option will not be available if the difference in the age of annuitant and spouse is more than 10 years.

Tax Benefits Save tax u/s 80 CCC (1) of IT Act.

What is the policy term?

Who can buy this product?

If you are in the age group of 18 to 65 you can opt for SBI Life – Unit Plus II pension plan without life cover.

For Unit Plus II pension plan with life cover it should be between 18-60 years.

Riders available

• SBI Life – Accidental Death and Total Permanent Disability Rider
• SBI Life – Critical Illness Rider

You can invest in the following investment funds viz. Equity Pension Fund, Bond Pension Fund, Growth Pension Fund, Balanced Pension Fund and Equity Optimiser Fund.

Equity Pension Fund:

Bond Pension Fund:

Growth Pension Fund:

Balanced Pension Fund

Equity Optimiser Fund

Guaranteed additions by way of free allocation of units: The bonus units are rewarded for the policy term of 20 years and above, when no premiums are due and the policy is in full force.

For Regular Premium Mode

For Single Premium Mode

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Introduction:

SBI Life Insurance introduces SBI Life – Immediate Annuity Plan for Pension Policyholders. This product provides annuity payments immediately from payment of purchase price. It has been specially designed to cater to the annuity needs of our existing policyholders (SBI Life – Lifelong Pensions, SBI Life – Horizon II Pension, SBI Life – Unit Plus II Pension) at the vesting age.

All you need to do is choose the annuity option and pay a purchase price to commence the annuity for the required amount. We at SBI Life will calculate the amount of each annuity payments based on the purchase amount and life expectancy.

What are the Key Features?

You can opt for any one of the 6 Annuity options available and your annuity option stays the same throughout the tenure.

Option to choose the periodicity of your annuity: Members can choose the periodicity of the annuity depending upon their needs. The options available are Annual, Half yearly, Quarterly, and Monthly.

Annuity rates guaranteed for life: Attractive annuity rates due to group effect. Annuity rates decided at the time of entry are guaranteed for the rest of life for the given purchase price.

Age at Entry for member : 50 to 70 Years as on last birthday

Minimum Annuity will be Rs. 250 per month.

What are the Annuity Options* Available?

A variety of Options to choose from:

Life annuity at constant rate.

Annuity payable at constant rate throughout the life of the Annuitant with facility of receiving on death of the Annuitant a refund of purchase price less the sum total of  annuity already paid till date of death.

Annuity payable at constant simple rate throughout the life of the Annuitant with facility of receiving on death of the Annuitant 100% refund of purchase price.

Annuity increasing at the rate of 1% or  2% or 3% per annum as the case may be and payable during the life of the Annuitant

Annuity certain for 5/ 10 / 15 years as the case may be and for the life thereafter

Last survivor annuity, whereby upon the death of the Annuitant his/ her spouse* will receive a life annuity, which will be either 100% or 50% of the last annuity amount paid to the Annuitant, as the case may be.

*Annuity is not available if the difference in age of the annuitant and the spouse is more than 10 years.

Why SBI Life Insurance?

SBI Life Insurance is a joint venture between the State Bank of India and BNP Paribas Assurance. State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate Banks, BNP Paribas Assurance is the insurance arm of BNP Paribas – Euro Zone’s leading Bank. BNP Paribas, part of the worlds top 10 group of banks by market value and part of Europe top 3 banking companies, is one of the oldest foreign banks.

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IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

Introduction: Under SBI Horizon II Pension Plan your money is invested in equity, bond or money pension funds. The investment plans also vary according to the proportion of money invested in equity funds.

A unique Unit Linked Pension Plan that will enable you to build a kitty good enough to enable you to spend a peaceful and financially sound Retired life!

SBI Life – Horizon II Pension is a safe and a hassle free way to get high returns!

SBI Life – Horizon II Pension comes with the unique feature of Automatic Asset Allocation by means of which you truly, don’t need to be an expert to grow your money!

Key Features:

SBI Life – Horizon II Pension is the most simple unit linked pension plan; all you need to do is:

•Choose your retirement date, the plan option and the regular premium amount.

• Based on the plan option and the term opted, SBI Life will invest your money in three different funds viz., Equity Pension Fund, Bond Pension Fund and Money Market Pension Fund.

• The funds are invested keeping in mind the term opted for and your money is invested in safer funds as your policy approaches maturity. Available with two options:

1. Pure Pension
2. Pension cum Life Cover No medical required to enroll for Pure Pension.

No premium allocation charges from year 11 onwards.

Save tax u/s 80 CCC (1) of IT Act. 15 days free look period from the date on which you receive the policy document.

Product type: This is a Unit Linked Pension product.

Investment Plans available Plan A – Dynamic Plan:Here a higher proportion of your money is invested in equity. It is ideal for longer period of terms.

Plan B – Growth Plan: Here, the investment in equity automatically decreases more rapidly as the funds are put into less risky options. This leads to more balanced approach, hence lower volatility coupled with good returns in long run.

Benefits Retirement Benefit: At vesting age you get a choice to withdraw upto one third of the fund value in lumpsum-tax free as per the current tax law.The remaining amount has to be used to buy Annuity from either SBI life or from any other Annuity provider.

Death Benefit: Death during the term of policy

• Option I Pure Pension – Fund value is payable to nominee.

• Option II Pension with Life Cover – Fund value plus sum assured after deducting any mortality charges due but not paid during policy year in which death occurs

Death after Vesting age: Death Benefit depends upon the annuity option chosen.

What is the policy term?

Term = Vesting age – Age at entry

Min Max 10 Years 52 Years

Note: Vesting Age = 50 years to 70 years (age as on last birthday)

Who can buy this product?

If you are in the age group of 18 to 60(age as on last birthday) you can opt for Horizon II pension plan.

What is the sum assured?

For Pure Pension Plan – Nil

No Riders are available.

Three Funds for investments are:

Equity Pension Fund:

Bond Pension Fund:

Money Market Pension Fund:

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