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Retirement Planning

BIRLA SUNLIFE EMPOWER PENSION PLAN
PLAN NAME TYPE OBJECTIVE BROCHURE
BIRLA SUNLIFE EMPOWER PENSION PLAN Unit Linked A plan that helps you accumulate your premiums and the investment returns into a corpus for your retirement for a secure future brochure
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Suitability For young and medium age individuals looking for creating fund for retirement
Min Age 25 years
Max Age 70 years
Min Premium Rs. 18000
Min Term 5 years
Max Term 30 years
Min Sum Assured -
Max Sum Assured -
Maturity Benefit Higher of Guaranteed Vesting Benefit or Fund Value
Death Benefit Guaranteed Death Bnefit or Fund Value, whichever is higher
Riders Not Available
Premium Payment Options Annual/Half yearly/Quarterly/Monthly
Investment Options Conservative/Moderate/Aggressive
Surrender Facility Available
Loan on Policy Not Available
Partial Withdrawal Not Available
Tax Benefit on Investment Available under section 80CCC of Income Tax Act
Taxation on Income Available under section 10(10A)
Pros Smart Investment Option rebalances the fund allocation in debtt:equity as per the age
Cons Only 1/3 portion of fund could be commuted on vesting. Mandatory to purchase pension of rest of the amount
BIRLA SUNLIFE EMPOWER PENSION SP PLAN
PLAN NAME TYPE OBJECTIVE BROCHURE
BIRLA SUNLIFE EMPOWER PENSION SP PLAN Unit Linked A single premium payment plan designed to build a fund to grow and to meet regular income requirement after retirement. brochure
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Suitability For individuals looking to build a fund for regular income on retirement with life insurance cover..
Min Age 25 years
Max Age 70 years
Min Premium Rs. 100000
Min Term -
Max Term -
Min Sum Assured -
Max Sum Assured -
Maturity Benefit Guaranteed vesting benefit or fund value, whichever is more.
Death Benefit Guaranteed death benefit or fund value, whichever is more.
Riders Not Available
Premium Payment Options Single Premium
Investment Options Aggressive/Moderate/Conservative
Surrender Facility Available
Loan on Policy Not Available
Partial Withdrawal Not available
Tax Benefit on Investment Available under section 80CCC of the Income Tax Act, 1961.
Taxation on Income Tax free under section 10(10A) of the Income Tax Act, 1961.
Pros Guaranteed additions at regular interval.
Cons Assignment facility is not available under this plan.
BIRLA SUNLIFE IMMEDIATE ANNUITY PLAN
PLAN NAME TYPE OBJECTIVE BROCHURE
BIRLA SUNLIFE IMMEDIATE ANNUITY PLAN Traditional A plan that provides instantly guaranteed lifetime income for retirement by investment of lumpsum amount brochure
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Suitability Suitable for retired individuals looking for regular, guaranteed income
Min Age 30 years
Max Age 90 years
Min Premium -
Min Term -
Max Term -
Min Sum Assured -
Max Sum Assured -
Maturity Benefit Fixed or Increasing regular income for life
Death Benefit As chosen in plan
Riders None
Premium Payment Options Single Payment
Investment Options None
Surrender Facility Not Available
Loan on Policy None
Partial Withdrawal None
Tax Benefit on Investment under section 80CCC of Income Tax Act
Taxation on Income Applicable
Pros Immediate Annuity guaranteed as per chosen option, Choice of fixed or increasing annuity for life
Cons Taxable income, surrender/withdrawal of plan not available

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