Shriram Life Pension Plans – Review, Types, Features, Criteria & more

Retirement is a time when time comes in abundance, and not income and heath simultaneously. Everything which comes at such a period brings in additional expense. The fact that income sources diminish stays constant, in such a case, the Shriram Life Pension Plan may come to the rescue.

All the means to a secured and self sustained future is provided by the Shriram Life Retirement Plans. But, analysing all the aspects of the plan, you will be able to draw a pretty precise conclusion of the plans and evaluate how likely it would cover up your future and your needs.

Figure out if the Shriram Life Retirement Plans would suit you and if they have the potential to satisfy you. We have all the needful information with us.

About Shriram Pension Plans

Shriram Group and Sanlam collectively formed an alliance, a merger to form the company Shriram Life Insurance Company. The Shriram Group has a major stake holding in the company, with 26% stake belonging to the Sanlam group. It was incorporated in the year 2005 to meet the insurance needs of people.

It has been serving people since the year 2006, when it stated functioning. The main idea of this company is to reach out to the lower sections of the society and to provide them with a secured future. they aim to fulfill the common man’s need, with their high quality products and services, available at affordable rates.

Plan out your future with this company and avail for the Shriram Pension Plan they offer.

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Types of Shriram Life Pension Plans

As stated, the idea of this company is pretty well put up with the plan it has in store. This company offers one Shriram Life National Pension Scheme.

It is an immediate annuity Shriram Life National Pension Scheme, where the payouts start rolling out immediately. Check out what the plan signifies and what eligibility criteria’s it holds.

• Immediate Annuity Plan

Find out other NPS Scheme in India

Shriram Immediate Annuity Plan – By Shriram Life Pension Plans

This Shriram Life Pension Plan is a traditional one, and hence, it would ensure you have a constant and steady cash flow. Here are the features it holds:

• Choose a frequency of payment under this Shriram Life NPS and the next payout will start accordingly. The frequency of payments are quarterly, yearly and annually for this Shriram Life NPS. Such a payout will commence after the payment of single premium.
• Loan provision is not provided under this Shriram Life National Pension Funds plan.
• No death benefit would be provided on account of holder’s death by cause of suicide under this Shriram Life NPS Scheme. However, this Shriram Life Pension Plan provides return of price of purchase if the same option is opted for.
• This Shriram Life NPS has additional tax exception under its hood. No tax is applicable on the premium amount paid, in this Shriram Life National Pension Funds according to the section 80CCC.

Eligibility Criteria for Shriram Immediate Annuity Plan

• Age criteria: 40 to 75 years
• Price of purchase: Rs.50,000 on the minimum with no maximum limit
• Annuity amount to be paid annually: Rs.1,000 with no maximum limit
• Intervals of premium payments allowed: half yearly, quarterly or even annually

Check out more Pension Plans available for Investment

Shriram Life Pension Plans / Retirement Plans – Conclusion

Option for this Shriram Life Pension Plan would be a pretty well defined choice, given all the benefits it has to render. The company has many such plans to offers, among which the Shriram Life Retirement Plans is expected to reap great benefits to the holders as well.

With all the experience they have, they have pretty much set on a quest to serve all the people in need of security and funds. Ensure you have access to money, even after retirement by means of availing for Shriram Life NPS Scheme.

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