The SBI Life-Unit Plus II Pension plan is a non participating Ulip cum pension policy which gives the choice of investment period from 5 years to 52 years. The policy gives you option of making premium payment in single premium or regular premium.
The contribution made in the policy will be invested in 5 funds according to the choice of the policy holder.
Features of SBI Life-Unit Plus II Pension are as follows:
• Minimum entry age for the policy s 18 years.
• Maximum age for the policy is 65 years.
• Minimum policy term 5 years.
• Maximum policy term 52 years.
• The plan offers you invest option and control 4 different funds according to the risk appetite.
• Under this policy 2 options are available namely; Pure Pension and Pension cum Life Cover.
• In case of pure pension plan no medical document or test is required. It has the automatic acceptance facility.
• This policy also gives the flexibility to increase the regular contributions.
• The payments can be made by top up, any amount any time.
• The customers can customize the plan by adding the riders.
• This policy also gives a 15 days lock period.
The benefits of SBI Life-Unit Plus II Pension are as follows:
a) Death benefit :- During the phase of accumulation
• If opted for pure pension plan fund value will be paid in lump sum to nominee.
• If opted for Pure Pension Plan with life cover the higher of fund value or sum assured will be paid in lump sum to nominee.
B) Rider benefits
• Accidental Death and Total Permanent Disability Rider
• Critical Illness Rider
C) Tax benefits
This policy saves tax u/s 80 CCC (1) of IT Act.
Possibly Related Posts:
- Pension scheme to offer 8.6% assured return option
- How to modify your financial plan for special situations
- SBI Life – Flexi Smart Insurance | Features & Benefits
- SBI Life Smart Wealth Assure | ULIP Plan | Key Features & Benefits
- Ulips | Regulatory changes
- SBI Life Lifelong Pension Plus | Key Features | Benefits
- SBI Life Scholar II | key Features | Benefits
- SBI Life Hospital Cash | Key Features | Eligibility
- SBI Life Group Criti9 | Key Features | Eligibility
- SBI Life Smart Scholar | Key Features | Benefits
Tags: Pension Plan, SBI Life Insurance, ULIPS