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  • Birla Sun Life Insurance Retirement Plans

    Birla Sun Life Insurance

    With pensions after retirement from employers becoming rare, planning for retirement years becomes a priority for every individual. At some point in time, you stop working and earning but what don’t stop are the expenses. You must build up substantial savings to take care of your daily expenses and the rising needs of healthcare as you age. Plus you have to take care of rising inflation lest it erodes your savings.

    Birla Sun Life Insurance Retirement Solutions let you save and build up a retirement corpus that helps you in spending your retirement years in comfort and peace. These plans usually carry a life cover and regular income options to meet your financial needs.

    Here are the various retirement plans from Birla Sun Life Insurance.

    BSLI Empower Pension Plan

    BSLI Empower Pension Plan, is a unit-linked non-participating plan for a comfortable second innings of life. Your premiums get added up into a corpus for your retirement; thus you can relax and live a worry-free life.

    Eligibility:
    • Entry age 25-70 years
    Features:
    • Flexibility to choose premium/term and vesting date
    • Returns based on your risk appetite
    • Premiums invested in equity and debt funds
    Benefits:
    • Guaranteed additions of additional units in your policy
    • On vesting the policy holder gets the higher of guaranteed vesting benefit or the fund value
    • Vesting benefit can be used to:
      • Enter into a single pay deferred pension plan
      • Commute up to 1/3rd of benefit and receive a lump sum tax free amount
      • Extend the accumulation
      • Get an annuity
    • Death benefits in case of premature death equal guaranteed death benefit or fund value as on date of intimation of death.
    • Surrender benefit can be used to:
      • Enter into a single pay deferred pension plan
      • Commute up to 1/3rd of benefit and receive a lump sum tax free amount
      • Get an annuity
    • 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:
    • Between 30-60 years old
    Features:
    • For rest of retired life continue to get guaranteed income
    • 5 different payout options of annuity and flexibility to choose one
    • Annuity can be paid - monthly, quarterly, semi-annually or annually
    • No medical tests needed
    Benefits:
    • Guaranteed income available post retirement
    • Annuities throughout life depending on the rate purchased
    • 5 annuity options to choose from
    • Flexibility to choose annuity amount
    • 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:
    • Between 25 to 70 years of age
    Features:
    • You can choose how much premium you pay
    • Can choose your vesting date
    • Choose your risk profile
    Benefits:
    • Guaranteed additions of additional units in your policy
    • On vesting the policy holder gets the higher of guaranteed vesting benefit or the fund value
    • Vesting benefit can be used to:
      • Enter into a single pay deferred pension plan
      • Commute up to 1/3rd of benefit and receive a lump sum tax free amount
      • Extend the accumulation
      • Get an annuity
    • Death benefits in case of premature death equal guaranteed death benefit or fund value asan date of intimation of death
    • Surrender benefit can be used to availed to
      • Enter into a single pay deferred pension plan
      • Commute up to 1/3rd of benefit and receive a lump sum tax free amount
      • Get an annuity
    • Tax benefits as per Income Tax Act

    Other Birla Sun Life Insurance Plans

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