Introduction: Life expectancy is improving rapidly. People live longer. You cannot work throughout your life. You will have to retire from work. In the post retirement period you have lot of time for yourself. You would like to do things you have not done while you were working You need to have a comprehensive plan to meet your post retirement financial needs ensuring complete peace of mind. Key Features: A maximum of Rs. 1,00,000 p.a. paid as a contribution on a pension plan is fully deductible from the taxable income (within the max. ceiling Rs. 1 lakh ) Minimum Guaranteed returns of 4% p.a. (compounded annually) on your Personal Pension Account (till 31st March 2010) + Vested bonus. It helps you to accumulate enough savings to meet the old age needs and look for a reliable and enduring pension payment. It is an extremely flexible plan: Choice of the contribution amount you want depending on your premium paying capacity You may exercise the Top-up facility whenever by paying additional amount to increase your retirement kitty, irrespective of contribution payment mode. Convenient Contribution payment mode monthly, quarterly, half-yearly, yearly and Single contribution is also available. Choice of the choosing your own retirement age. Postponing/ Preponing to a convenient date, the decision for receiving the Pension Benefits. Contribution holiday available from year 4 onwards. The total/balance amount (after withdrawal from PPA, if any) can be utilized in seeking immediate annuity. Free to chose annuity from either SBI Life or other insurance companies. At Vesting Age you have multiple choices of Pension/ Annuity options including Joint Life Time Annuity. On maturity you have a choice to withdraw up to 33% from your Personal Pension Account in a lump sum. This withdrawal amount is tax-free as per the current fiscal law. Helps you to utilize all alternatives of tax savings today and also plan for a worry free tomorrow. In “Pension cum Life Cover” plan, you have the facility of Automatic Cover Maintenance, which ensures that the cover remains in force even when you miss the premium payments. This facility is available after the first three years of the term. In “Pension cum Life Cover” plan, the life cover acceptance is based on a simple medical questionnaire without any Medical examination Rebates for Annual, Semi- Annual mode of premium and on high Contribution amount. Enjoy financial independence when you retire. 15 days Free Look Period from the date on which you receive the policy documents. Product type: This is a Pension product. How does it work? Here you pay your contributions for a selected term (accumulation period). Your contribution net of administration charges in your Personal Pension Account with a guaranted rate of 4% (compounded) per annum till March 2010. depending on the financial market, additional vested bonus may be declared from the age to start receiving pensions and also have the flexibility in the choice of annuity options and provider. Benefits Tax Benefit Tax exemption u/s 80 CCC (1) of IT Act. Maturity Benefit You can get maturity benefits only after the accumulation period is over. At the end of this period, the amount of your Personal Pension Account (Contributions net of administrative fee and Life cover charge, if any + Guaranteed Return + Vested Bonus) can be utilized in several ways: Immediate Cash need: You have a choice to withdraw up to 33% from your Personal Pension Amount in a lump sum. This withdrawal amount is tax-free as per the current fiscal law. Purchase of Annuity: The total/balance amount (after withdrawal from PPA) has to be utilized in seeking annuity from SBI Life (subject to the choice and rates available at that time), or any other insurance company. Annuity options available with SBI Life The policyholder has the choice to opt for any of the following options: Life Time Annuity: Fixed annuity amount as long as you live. Increasing Life Annuity: It provides progressively higher pension by a fixed percentage every year (rate will be fixed at vesting age as per the rates available at this time) to keep up with the increasing cost of living. The first 2 options can be purchase with option of refund of Purchase price less Amount of pensions already received. Annuity for Life with guaranteed period: Fixed guaranteed annuity for a minimum guaranteed period of 5, 10, 15 years (payable to you or your nominee), and thereafter only to you as long as you are alive. Joint Life time annuity + Life time annuity for Survivor: The payment of annuities during the lifetime of the person, and thereafter as long as the spouse lives. The annuity amount could be the same as drawn by the person while he was alive, or half of the amount, as opted at the beginning. The annuities could be payable monthly, quarterly, half yearly or yearly as per your option. Death Benefit: Death Benefit during accumulation period Pure Pension (Plan 1): The nominee would be paid the Personal Pension Account (Net accumulated contributions + minimum guaranteed return + vested bonus) Pension cum Life Cover (Plan2): The nominee would be paid the same benefit as per the Pure Pension Plan + Sum Assured for Life Cover. Death benefit during the Pension/Annuity period : Death benefits depend on the pension option chosen Life Time Annuity: no death benefit Increasing Life Annuity: no death benefit First 2 options with refund of balance purchase price: nominee will receive Purchase price less pension’s amount already paid to the annuitant, if any. Annuity for Life with guaranteed period: If death occurs during guaranteed period, the remaining guaranteed period annuity will be paid to the nominee as per the original schedule. If death occurs after this guaranteed annuity period, no death benefit. Joint Life time annuity + Life time annuity for Survivor : If spouse survives, he/she will receive 50% / 100% of the annuity for Life time. Who can buy this product? If you are in the age group of 18 years (age as on last birthday) to 65 years (age as on last birthday) you can opt for pure pension plan. For Pension cum Life Cover it is 18 years (age as on last birthday) to 60 years (age as on last birthday). Riders Available No Riders are available. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

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