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Shriram Life Deferred Annuity (UIN: 128N105V02)

Shriram Life Deferred Annuity (UIN: 128N105V02)

Deferred Annuity

A Deferred Annuity (UIN: 128N105V02) Insurance Plan plays a vital role in helping individuals secure their financial future, particularly during retirement. Unlike immediate annuities, which begin providing payouts shortly after the initial premium payment, deferred annuities offer a unique approach by allowing policyholders to delay the start of income payments to a later, predetermined date. 

The Deferred annuity serves as a strategic tool for retirement planning, offering a balance between investment growth and insurance protection. In essence, a Deferred Annuity Insurance Plan provides a structured and tax-efficient approach to building a financial foundation for retirement. By combining the elements of long-term investment growth and insurance protection, it offers individuals the opportunity to create a steady and reliable income stream to support their retirement lifestyle.

Features

4 Annuity Options to Choose from

Return of your Purchase Price in Case of Terminal Illness#

Option to Increase your Annuity Through Top Up Premiums and Loyalty Additions

Additional Benefits Like Waiver of Premium, High Purchase Price Incentives

Guaranteed* Annuity Rates for Lifetime

Option to Choose Single Life or Joint Life

Flexibility to Alter Premium Payment Term, and Deferment Period

Benefits

2

Lump Sum Death Benefit

Under this option the entire Death benefit shall be payable to the nominee(s) in lump sum

Death Benefit in Instalments

Under this option the benefit amount payable on death can be received in instalments over the chosen period of 5 years instead of lump sum amount. This option can be exercised for full or part of the Death Benefit payable under the policy. The amount opted (i.e. net claim amount) can be either in absolute value or as a percentage of the total claim proceeds payable. The instalments shall be paid in advance at yearly or half- yearly, quarterly, or monthly intervals.

Maturity Benefit

There is no maturity benefit under this plan.

Eligibility

Age at Entry

Min: 40 years(age last birthday)for primary annuitant | 30 years(age last birthday)for secondary annuitant

Max: 75 years(age last birthday)for primary annuitant | 80 years(age last birthday)for secondary annuitant

Minimum vesting age

45 years

Maximum vesting age

80 years

Policy Term

Whole Life

Premium Paying Term

Single Pay  
Limited / Regular: 5-10 years

Deferment Period

5-10 Years

Annuity Mode

Yearly, Half-yearly, Quarterly or Monthly

Annuity

Min: 12000 p.a

Max: No limit, Subject to board-approved underwriting policy

 Premium 

Min:  
Single Pay 30,000                                                                

For limited and Regular pay 
Yearly: 60,000 | Half-yearly: 31,000 | Quartely: 15,500 | Monthly: 6,000


Max: No limit, Subject to board-approved underwriting policy

Disclaimer

For more details on risk factors, terms, and conditions please read the sales brochure carefully before concluding a sale.  

*Tax Benefits:  
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.  
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.

IRDAI Regn No: 128  
CIN No : U66010TG2005PLC045616 of the Company

The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”

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