SBI Life - Saral Pension Plan

The features and benefits of Saral Pension Plan are:

1. The plan is an individual, non-linked participating, savings pension one.
2. It is completely safe from market volatility.
3. You can build a retirement corpus with the help of the plan.
4. You are guaranteed of simple reversionary bonuses for the first five years.
5. Can avail maturity benefit
6. You are offered the option of additional life cover through SBI Life - Preferred Term Rider.
7. Can claim death benefit
8. You can revive the policy within 5 years from the date of first unpaid premium.
9. Staff discount up to 2.25 percent on the tabular premium is provided to employees, retired employees, VRS holders, minor children, and spouse of employees of SBI Life Insurance Co. Limited, SBI, RRBs sponsored by SBI and subsidiaries of State Bank group.
10. Can avail tax benefits.
11. The option of nomination is provided as per Section 39 of the Insurance Act, 1938.
12. You have the option to review the terms and conditions of the policy and return it within 30 days of receipt.
13. You are allowed a grace period of up to 30 days from the due date for payment of premiums.

Eligibility Conditions for Saral Pension Plan

Documents Required

The documents which need to be submitted when opening a Saral Pension Plan are listed below:

1. Age Proof
2. Address proof
3. Income proof
4. Identity proof

Riders in Saral Pension Plan

Under the SBI Life - Saral Pension Plan you can avail the rider benefit. You have the option to avail SBI Life - preferred term rider along with the base product. The rider can be taken up only at the inception of the policy.

Note: The rider sum assured and the rider policy term cannot be more than that of basic sum assured and basic policy term.