Birla Sun Life Insurance Retirement Plans

Eligibility:

1. Entry age 25-70 years

Features:

1. Flexibility to choose premium/term and vesting date
2. Returns based on your risk appetite
3. Premiums invested in equity and debt funds

Benefits:

1. Guaranteed additions of additional units in your policy
2. On vesting the policy holder gets the higher of guaranteed vesting benefit or the fund value
3. Vesting benefit can be used to:
   1. Enter into a single pay deferred pension plan
   2. Commute up to 1/3rd of benefit and receive a lump sum tax free amount
   3. Extend the accumulation
   4. Get an annuity
4. Death benefits in case of premature death equal guaranteed death benefit or fund value as on date of intimation of death.
5. Surrender benefit can be used to:
   1. Enter into a single pay deferred pension plan
   2. Commute up to 1/3rd of benefit and receive a lump sum tax free amount
   3. Get an annuity
6. Tax benefits as per Income Tax Act

BSLI Immediate Annuity Plan

BSLI Immediate Annuity Plan allows you to invest lump sum amounts or your savings corpus into an regular and guaranteed income after retirement, at your disposal when you want to have it.

Eligibility:

1. Between 30-60 years old

Features:

1. For rest of retired life continue to get guaranteed income
2. 5 different payout options of annuity and flexibility to choose one
3. Annuity can be paid - monthly, quarterly, semi-annually or annually
4. No medical tests needed

Benefits:

1. Guaranteed income available post retirement
2. Annuities throughout life depending on the rate purchased
3. 5 annuity options to choose from
4. Flexibility to choose annuity amount
5. Tax benefits as per IT Act

BSLI Empower Pension - SP Plan

BSLI Empower Pension - SP Plan- a unit linked, non-participating single pay pension policy that lets you accumulate your corpus over a period with a single premium and on vesting makes you eligible for regular returns.

Eligibility:

1. Between 25 to 70 years of age

Features:

1. You can choose how much premium you pay
2. Can choose your vesting date
3. Choose your risk profile

Benefits:

1. Guaranteed additions of additional units in your policy
2. On vesting the policy holder gets the higher of guaranteed vesting benefit or the fund value
3. Vesting benefit can be used to:
   1. Enter into a single pay deferred pension plan
   2. Commute up to 1/3rd of benefit and receive a lump sum tax free amount
   3. Extend the accumulation
   4. Get an annuity
4. Death benefits in case of premature death equal guaranteed death benefit or fund value asan date of intimation of death
5. Surrender benefit can be used to availed to
   1. Enter into a single pay deferred pension plan
   2. Commute up to 1/3rd of benefit and receive a lump sum tax free amount
   3. Get an annuity
6. Tax benefits as per Income Tax Act.