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ABSLI Empower Pension Plan
A non-participating unit linked individual pension plan

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 do during our working lives.

Presenting the Aditya Birla Sun Life Insurance Empower Pension Plan, a plan designed especially to ensure that you remain in control of your destiny even during the second innings of life.

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

Your vesting benefit will differ as per your plan option chosen:

Assured Option:
On your vesting date you will receive the greater of (a) Guaranteed Vesting Benefit net of partial withdrawals since inception of your policy or (b) the Policy Fund Value. The Guaranteed Vesting Benefit varies by your chosen vesting date and risk profile. Guaranteed Vesting Benefit once assigned to your policy at inception shall remain constant.


Self-Managed Option:
You will receive the Policy Fund Value on the vesting date.

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) Policy Fund Value as on date of intimation of death. The Guaranteed Death Benefit is 105% of all basic premiums paid less partial withdrawals made during two-year period immediately preceding the death of the life assured.

At any time while your policy is in force you can request to surrender this policy for its Surrender Benefit. Any such surrender will be treated according to the Policy Discontinuance provisions mentioned in this document.

As per extant tax laws, this plan offers tax benefits under Section 80C 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
Premium Paying 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

Assured Option

Under this option your portfolio will be structured depending on chosen vesting date and risk profile. We will invest your basic premiums between the two investment funds – Maximiser Guaranteed (an equity fund) and Income Advantage Guaranteed (a debt fund) in a predetermined proportion based on the selected vesting date and risk profile. Thereon, we will manage and administer your investment portfolio on your behalf, thus saving you time and effort.

Self-Managed Option

Self- Managed Investment Option gives you access to our well-established suite of 16 segregated funds, complete control in how to invest your premiums and full freedom to switch from one segregated fund to another.

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
Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance pension plan. Aditya Birla Sun Life Insurance and ABSLI Empower Pension Plan are only the names of the Company and unit linked life insurance contract respectively and do not in any way indicate the quality of the contract, future prospects or returns. The name of the funds offered in this plan does not in any indicate their quality, future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The various funds offered under this contract are the names of the funds and do not any way indicate the quality of these plans, their future prospects and returns. 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 NAV 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. Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The Past performance of the Unit linked fund(s) of the company is not necessarily indicative of the future performance of any of these Unit linked fund(s). Service Tax 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. Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. Insurance is the subject matter of solicitation. 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 IRDAI reg no.109 ADV/3/19-20/1921 VER2/MAR/2020

UIN: 109L078V03