SBI Life Horizon II Pension Plan

SBI Life Horizon II Pension is a unit linked product that will enable you to build a kitty good enough to enable you to spend a peaceful and financially sound retired life.
SBI Life Horizon II pension comes with the unique features of Automatic Asset Allocation by means of which you truly, don’t need to be an expert to grow your money.
Key Features-

1. No premium allocation charges for from year 11 onwards.
2. Plan available in two option- Pure Pension and Pension Cum Life Cover.
3. Choose retirement date and plan option and the regular premium amount.
4. Choose investment plan between Dynamic Plan and Growth plan.

Key Benefits-

1. Retirement benefits- At vesting age you get a choice to withdraw up to one third of the fund value in lumpsum-tax free as per the current tax law. The remaining amount has to be used to buy annuity.
2. Death Benefit-
   -Pure pension- Fund value
   -Pension Cum Life Cover- Fund value plus sum assured after deducting any mortality charges due but not paid during policy year in which death occurs.
   -Death after Vesting age- Depends upon the annuity option chosen.
3. Tax benefit under section 80CCC(1) of income tax act.

          Source-http://www.sbilife.co.in