ABSLI Empower Pension Plan

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER 

Aditya Birla Sun Life Insurance Empower Pension Plan is a simple, hassle-free, unit-linked pension plan, which helps you in accumulating premiums and investment returns thereof into a corpus for retirement.

Plan Options

  • 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.

  • Guaranteed Additions

    Like in the many types of pension plans, in this plan, Fund Value is equal to the number of units pertaining to the premiums allocated to the segregated fund/s chosen by you, multiplied by its then prevailing unit price. Guaranteed additions in the form of units will be added to your policy.

    Please refer to the product brochure for more details.

  • Vesting benefit

    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.

  • Death Benefit

    In the unfortunate event the life insured dies while the policy is in effect, we will pay to the nominee the greater of the Guaranteed Death Benefit or the Policy Fund Value as on date of intimation of death.

  • Surrender Benefit

    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.

  • Entry Age (age 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

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Frequently Asked Questions

  • What is the important feature of this plan?

    • Guaranteed additions to boost your retirement corpus
    • Assured Option to enjoy a guaranteed benefit on vesting, or Self-Managed Option to choose from various funds as per risk appetite, with Policy Fund Value payable on vesting
  • What is the premium paying duration for this plan?

    ABSLI Empower Pension Plan is a regular pay plan and you may need to pay premiums every year till you decide to vest. This vested pension plan provides for regular premium only with no short pay options.

  • Will I get any tax benefit?

    You will be eligible for tax benefits under Section 80CCC and Section 10 (10A) of the Income Tax Act, 1961. Under Section 10(10A), the tax benefits are on the commuted value of the benefits on the vesting date, subject to applicable exclusions.

  • Can this plan be purchased online?

    No, this plan cannot be purchased online.

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Disclaimer

The linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year. Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. 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 Policy respectively and do not in any way indicate their quality, future prospects or returns. The name of the funds offered in this plan does not in any indicate their quality, future prospects or 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 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 any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale.

Aditya Birla Sun Life Insurance Company Limited Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Toll free no: 1800-270-7000 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 UIN: 109L078V02

ADV/9/20-21/1040

Need help with life insurance?

+91
I agree to the Terms of Usage and Privacy Policy and authorize Aditya Birla Sun Life Insurance Company Limited and its associates to call/SMS/Email/WhatsApp me.

Thank you for your details. We will reach out to you shortly.

1800-270-7000 or reach out to us on this number.

Thank you for your details. Currently we are facing issue in our system.

1800-270-7000 or reach out to us on this number.