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ABSLI Empower Pension Plan
A unit linked pension plan

Linked insurance products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to withdraw/Surrender the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception.

Retirement is the time of life when the worries of working life cease and a life of fun and bliss begins. Each one of us wishes to be empowered enough for a retired life of our choice; to be able to fulfill our dreams, relax, pursue hobbies that we could not during our working lives.

Presenting the ABSLI Empower Pension Plan, a plan designed especially to ensure that you remain in control of your destiny even during the second innings of life. A unit linked, non-participating pension plan - it is simple, hassle-free and helps you to focus on your goals and enhance your savings for your future ensuring it is free from worries.

You will be benefitted in the form of additional units added to your policy

On vesting date, you will receive the greater of (a) your Guaranteed Vesting Benefit or (b) the Fund Value. The Guaranteed Vesting Benefit is assigned at the inception & varies by the chosen vesting date and risk profile.

The policyholder can utilise the vesting benefit in the following manner:

  • Extend the accumulation phase
  • Enter into a single pay deferred pension plan
  • Commute upto 1/3rd of the Vesting Benefit and receive the amount in a tax-free lump-sum
  • Enter into an income (annuity) phase

In the unfortunate event of the life insured's death, while the policy is in effect, we will pay to the nominee the greater of (a) the Guaranteed Death Benefit or (b) Fund Value as on date of intimation of death. The Guaranteed Death Benefit is the greater of (a) 105% of all basic premiums paid or (b) Accumulation of all basic premiums paid till date at a compounding guaranteed rate. The guaranteed rate varies basis the risk profile chosen by the policyholder.

In case of emergencies, you can surrender your policy to us anytime till vesting. During the first 5 policy years the benefit on surrender will be as per the Policy Discontinuance clause in the product brochure. After five years, the surrender benefits can be availed in the following manner:

  • Enter into a single pay deferred pension plan; or
  • Commute to the extent allowed (as per the extant Income Tax Act) and utilize the balance to receive a stream of regular income; or
  • Enter into an income (annuity) phase

As per extant tax laws, this plan offers tax benefits under Section 80CCC and Section 10(10A) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein. Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.

For further details on benefits, please refer to the product brochure.

Entry Age (age on last birthday) 25 –70 years
Accumulation Period 5 – 30 years subject to maximum vesting age of 80 years
Pay Term Regular pay
Basic Premium Minimum Rs.18,000 p.a. if paid annually
  Minimum Rs.24,000 p.a. if paid semi-annually
Minimum Rs.30,000 p.a. if paid quarterly; or
Minimum Rs.36,000 p.a. if monthly

Explore more retirement insurance plans from Aditya Birla Sun Life Insurance and also calculate the premium with Retirement Planning Calculator

Please click here to Download product brochure
Please click here to download policy contract

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance pension plan. Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Aditya Birla Sun Life Insurance and ABSLI Empower Pension Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. The various funds offered under this contract are the names of the funds and does not any way indicate the quality of these plans, their future prospects and returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the investment fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates, etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns above the guaranteed returns from the investment funds. GST and Education Cess and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. For more details on risk factors, terms and conditions please refer to the sales brochure before concluding the sale. Aditya Birla Sun Life Insurance Company Limited (formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. CIN: U99999MH2000PLC128110 Registration No. 109 ADV/3/17-18/1928 VER1/APR/2018

UIN: 109L078V02