SBI strengthens its pension product portfolio

Chennai, Feb 20: In order to strengthen its pension products, in line with the current trend, the SBI Life has launched the Unit Plus II pension scheme.

The uniqueness of the product is that it stems from the 'Guaranteed Addition' feature, which is currently offered by SBI Life in the pension category in India, a release said today.

'Guaranteed Addition' of Unit Plus II Pension enables free units allocation, which enhances the policy holders' retirement plans further.

SBI Life's pension product portfolio, with existing pension products, Horizon II Pension 'unit-linked, Lifelong Pensions' a non unit-linked participating and the newly introduced Unit Plus II Pension, caters to several groups of customers with varied risk appetite.

By leveraging its unique distribution model, comprising the State Bank Group's network of 14,500 branches and agency force of more than 20,000 insurance advisers, the Company plans to cater to post-retirement needs of country's future burgeoning old age population, the release added.

UNI