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
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 | |||||
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: For limited and Regular pay
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