Shriram Life Insurance has launched an affordable annuity plan that balances long-term savings growth along with insurance protection. Individuals aged 40 and up until the age of 75 can purchase Shriram Life Deferred Annuity Plan, which offers tax benefits as well as steady retirement income. The minimum premium starts at Rs 60,000 per year for limited and regular premium payment terms, while for single premium payment it is Rs3 lakh. There is no limit on premium payable or purchase price.
Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance said, “Shriram Life Deferred Annuity Plan’s affordable rates target customers who are entrepreneurs and not covered under social security schemes.”
