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Birla Sun Life Insurance launches BSLI Empower pension plan

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Birla Sun Life Insurance launches BSLI Empower
Birla Sun Life Insurance launched a new pension plan, BSLI Empower, which is a unit linked, non-participating pension plan it is simple, hassle-free and helps you accumulate your premiums and the investment returns into a corpus for your retirement; so that you can focus on your goals, and enhance your savings for a secure future.

Plan details:

 

Entry age:25 -70 years

Accumulation period: 5-30 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, quarterly or monthly

Key Features:

During the accumulation phase BSLI offer Smart Option - an option where you allow them to manage and administer your investment portfolio on your behalf, based on a vesting date and risk profile chosen by you to meet your retirement objectives.

Your accumulated retirement corpus is utilised at vesting (retirement) to purchase an annuity option, with BSLI, prevailing at that time. BSLI will invest your premiums between the two investment funds - Maximiser (an equity fund) and Income Advantage (a debt fund) in a predetermined proportion based on the selected vesting date and risk profile.

Benefits of BSLI Empower Pension Plan:

Guaranteed Additions

In the form of additional units will be added to your policy from the 6th policy year onwards.

Vesting Benefit

On your vesting date you will receive the greater of (a) your Guaranteed Vesting Benefit or (b) the 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.

Death Benefit

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) 101% of all Premiums paid or; (b) Accumulation of all Premiums paid till date at a compounding rate.

Surrender Benefit

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.

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