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Shriram Life Immediate Annuity Plus (UIN: 128N063V05)

Shriram Life Immediate Annuity Plus (UIN: 128N063V05)

SHRIRAM LIFE IMMEDIATE ANNUITY PLUS UIN: 128N063V05

Retirement is neither an age nor a phase. Retirement is a decision to bid farewell to the task of working for a regular income over Years. Post- Retirement the work stops, but the income should not. During this time, you want to be empowered to do all that you dreams, pursue hobbies, spending time with friends and family, pilgrimage etc. 

We at Shriram understand your needs the best, Hence Presenting you Shriram Life Immediate annuity plus a non- linked and non-participating single premium immediate annuity individual single Premium plan for individuals which offers you a comprehensive range of annuity options along with flexibilities, providing you an opportunity to always maintain your living standards.

Key Features

9 Annuity Options to Choose from

Guaranteed Annuity rates for Lifetime

Return of Your Purchase Price in case of terminal illness

Option to choose Single Life or Joint Life

KEY BENEFITS

child-plan

Maturity Benefits

There is no maturity benefit under the plan.

Location

Surrendering the policy

Options (i.e. options 2, 8 and 9) where the benefit of return of purchase paid is payable are eligible for surrender value from first policy year onwards. T
The policy acquires surrender value immediately on payment of purchase price. The surrender value payable under the policy is as below: 
Year 1 to 3: 85% of purchase price 
Year 4 to 6: 90% of purchase price 
Year 7 and above: 92.5% of purchase price

unit-plan

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.

ELIGIBILITY

ENTRY AGE

Minimum: 0 Years      
                18 Years (age last birthday) for joint life options      
Maximum: 85 Years (Age Last Birthday)

POLICY TERM

Whole Life

Annuity Mode

Yearly, Half-yearly, Quarterly,Monthly

ANNUITY

Minimum annuity per annum for all the options is Rs. 12000. Under all the options the monthly annuity shall be Rs. 1000 per month In case the proceeds of the Company’s Deferred Pension policy are not sufficient to purchase minimum annuity as stipulated by the Authority from time to time, the proceeds of the policy shall be paid as lump sum.    

Max: No limit, Subject to board approved underwriting policy

PURCHASE PRICE

Minimum: Rs. 2 Lakhs  
Maximum: No limit, Subject to board approved underwriting policy

MAXIMUM EXIT AGE

No maximum exit age. Policy will terminate upon death of annuitant

PREMIUM PAYING TERM

Single  
RIDERS (Add Ons)  
No riders available for this plan.

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

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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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