Due to Increasing life expectancy rate and rising health care costs make retirement planning necessary for everyone. Birla Sun Life Pension Plans ensures you to lead a happy life on your terms with your Family even after retirement. This Pension plan will make sure that your dreams live on, and you prevail the same worry free young at heart even in the years to come.
Birla Sun Life Retirement Plans Review
Retirement is the Time when you can take Blissful Rest and Enjoyment of Hobbies. But In Retirement your Income Stops and expenses continue to Increase. So it is Difficult to Continue your Daily Life without any Financial Pressures. Birla Sun Life Pension Plans helps you to Overcome the financial conundrum faced at retirement Phase and to Help you to Continue your Life in a Joyful way with your Children, Grand Children, Colleagues, Friends, Relatives.
Birla Sun Life Insurance Company is offering Three Wonderful Retirement Plans that will hep you to enjoy your Post Retirement Life. The Excellent Feature of the Birla Sunlife Pension Plans in that you can choose the Retirement Age and can enjoy the best years of your life. Age is just a number. To Convert your old age into golden years, it is really important to start a retirement planning. So Buy one of the Birla Sun Life Retirement Plan and Start Planning your Retired Life from Today.
Types of BSLI Pension Plans
To meet the Post Retirement Needs Birla Sun Life Insurance Company Provides various Pension Plans for its Customers. The Various Pension Plans offered by Birla Sun Life Insurance Company are
- BSLI Empower Pension Plan.
- Birla Sun Life Immediate Annuity Plan.
- BSLI Empower Pension – SP Plan.
Birla Sun Life Pension Plans Benefits & Features
Birla Sun Life Pension Plans offers you wide Range of Benefits such as Death Benefit, Maturity Benefit, Surrender Benefit, and Tax Benefit to accumulate enough Money for Life Time. Check Benefits of various Pension Plans from below Sections.
Birla Sun Life Empower Pension Plan
BSLI Empower Pension Plan is an Insurance Plan is a unit linked, non-participating pension plan. It Specially designed to ensure to enjoy your second innings of life. Birla Sun Life Empower Pension Plan is Simple, hassle-free that helps you to accumulate your Premiums and investment returns into a corpus for your retirement.
Benefits of Birla Sunlife Empower Pension Plan
Vesting Benefit: On Maturity of the Policy Policyholder will receive the Higher of your Guaranteed Vesting Benefit or the Fund Value as Maturity Benefit. The Guaranteed Vesting Benefit varies depends on the Vesting Date and Risk Profile.
Death Benefit: In case of Unfortunate Death of the Policyholder during the Policy Term while the Policy is in Force the Nominee will receive the Higher of Guaranteed Death Benefit or Fund Value as on date of intimation of death or 105% of all basic premiums paid as Death Benefit.
Surrender Benefit: In Case of Emergency you can Surrender your Birla Sun Life Empower Pension Plan at any time till Vesting after Paying Premiums for First 5 Policy years. The Company will pay the stream of regular income as Surrender Benefit to the Policyholder on Surrendering the Policy after 5 years.
BSLI Empower Pension Plan Features
- On Purchasing the Birla Sun Life Empower Pension Plan you will get Stream of Regular Income for the Rest of your Life.
- In this Plan, you have the Flexibility to choose Vesting Date & Risk Profile.
- You will get Guaranteed Additions along with Benefits.
- The Guaranteed Additions will be automatically Determined based on your choices.
Birla Sun Life Empower Pension Plan Eligibility Criteria
| Entry Age |
|
| Maximum Vesting Age | 80 years. |
| Accumulation Period | 5 – 30 years |
| Policy Term | Regular Pay |
| Premium Payment Modes |
|
| Basic Premium | Minimum:
Maximum: No Limit. |
For More Information regarding Birla Sun Life Empower Pension Plan, please refer Official Brochure.
BSLI Empower Pension Plan Brochure.
Birla Sun Life Insurance Immediate Annuity Plan
BSLI Immediate Annuity Plan is a traditional, non-participating, single premium annuity plan that enables you to Convert your Savings into a Guaranteed Lifetime Income Source for Retirement. Birla Sun Life Immediate Annuity Plan provides a secured alternate source of Income for your Future. You can use this Amount at any time you choose to have it.
Benefits of Birla Sunlife Immediate Annuity Plan
Death Benefit: On Unfortunate Death of the Policyholder during the Policy Term, the Following Death Benefits are available under this Policy
- The Annuity is payable to the Policyholder at Uniform Rate. On Sudden Death of the Life Assured, the annuity payouts will cease.
- In case of Unfortunate Death of the Primary Annuitant, the Secondary Annuitant will receive the annuity.
- Upon Death of the Secondary Annuitant, the Nominee will receive the purchase price.
BSLI Immediate Annuity Plan Features
- You will Receive Guaranteed Income for Entire Retired Life.
- In this Plan, you have the Flexibility to choose 6 different payout options to Receive Annuity.
- No Medical Tests are Required to Buy this Plan.
- Tax Benefits are available under Section 80CCC of the Income Tax Act, 1961.
Birla Sun Life Immediate Annuity Plan Eligibility Criteria
| Entry Age |
|
| Policy Term | Regular Pay |
| Premium Payment Modes |
|
| Purchase Price | Minimum Regular Income of
Maximum: No limit.
|
For More Details regarding BSLI Immediate Annual Plan, please refer official Brochure
Brochure for Birla Sunlife Insurance Immediate Annuity Plan Brochure
Birla Sun Life Insurance Empower Pension – SP Plan
BSLI Empower Pension -SP Plan is a unit linked, non-participating pension plan. This plan helps you to free from worries and ensures you to focus on your goals and enhance your savings for your future. It is a Simple, hassle-free Plan that helps you to accumulate your Premiums and investment returns.
BSLI Empower Pension – SP Plan Benefits
Vesting (Maturity) Benefit: On Maturity of the Policy Policyholder will receive the Higher of your Guaranteed Vesting Benefit or the Fund Value as Maturity Benefit. The Guaranteed Vesting Benefit varies depends on the Vesting Date and Risk Profile.
Death Benefit: On Death of the Life Assured during the Policy Term the Nominee will receive the Higher of Guaranteed Death Benefit or Fund Value as Death Benefit.
Surrender Benefit: In Case of Emergency you can Surrender your Birla Sun Life Empower Pension Plan at any time till Vesting after Paying Premiums for First 5 Policy years. The Company will pay the stream of regular income as Surrender Benefit to the Policyholder on Surrendering the Policy after 5 years.
Features of Birla Sun Life Insurance Endowment Pension – SP Plan
- On Purchasing the Birla Sun Life Empower Pension Plan you will get Stream of Regular Income for the Rest of your Life.
- In this Plan, you have the Flexibility to choose Vesting Date & Risk Profile.
- You will get Guaranteed Additions along with Benefits.
- It Provides a Smart Option where you allow the Company to manage and administer your investment portfolio on your behalf.
- The Guaranteed Additions will be automatically Determined based on your choices.
BSLI Endowment Pension – SP Plan Eligibility Criteria
| Entry Age |
|
| Maximum Vesting Age | 80 years. |
| Accumulation Period | 5 – 30 years |
| Pay Term | Single Pay |
| Basic Premium |
|
For More Details regarding Birla Sun Life Endowment Pension – SP Plan refer Official Brochure
BSLI Endowment Pension – SP Plan.
Birla Sun Life Pension Plan Premium Calculator
You can calculate the Minimum Premium that has to be Paid to take the Policy By Using the Birla Sun Life Pension Plan Premium Calculator. The Amount of Premium Paid will depend on the Sum Assured, Policy Term, Premium Payment Modes and Age of the Life Assured. You need to enter Some Basic Information like Name, Mail Id, Mobile Number, Age, Policy Term, and Minimum Sum Assured to calculate the Premium Value.
Birla Sun Life Pension Plans Buying Process
You can Buy the Birla Sun Life Pension Plan from the Nearest BSLI Branch Office or, from the Agent of Birla Sun Life Insurance Company. You can also Download the Proposal Form from the BSLI Life Official website. The Documents required for buying Birla Sun Life Pension Plans are listed below.
- Application form / Proposal form along with the photo.
- Address Proof.
- Age Proof.
- Medical Reports (if required).
Claim Process for Birla Sun Life Retirement Plan
The Policyholder / Nominee can apply for the Claim in the case of Death or Disability Occurred due to the Sudden Accident of the Policyholder within the Policy Term or if your Policy Maturity Period completed. You can apply your Claim through online at the official website or through alternate channels such as at Branch Office, through Helpline Number, Mail Id. The Documents required in Birla Sun Life Claim Process are
- Original Policy Document.
- Death Certificate Original from Municipal / Local Authorities.
- Claimant’s Statement and Claim Forms.
- Hospital Records including Discharge Summary.
- NEFT Form.
- Date of Birth Proof.
- Address Proof of Nominee.
- A copy of Pass Book.
- Additional documents, in the case of death, occurred due to unnatural or accidental death.
Additional Details of Birla Sun Life Pension Plans
Policy Loan: No Loan Facility is available under BSLI Retirement Plans.
Surrender Value: You can Surrender Policy at any time during the Policy Term only after Paying the Premiums for Five Successful years.
Free Look (Cooling Off) Period:
If the Policy Holder does not satisfied with the Terms and Conditions of the Policy, Policyholder can return the Birla Sun Life Pension Plans within 15 Days from the date of receipt of the Policy Document, and it is 30 Dyas if the Policy is bought through Distance Marketing.
Exclusions: No Benefits will be Payable in case of Life Assured Commits Suicide within the Policy Term.
Taxes: As per the Current Laws, Income Tax Benefits are available under Section 80C 80CCC(1), 80D, and Section 10(10D) of Income Tax Act for this Plan.