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Birla Sun Life Retirement Plans

Who doesn't dream of a happy, peaceful and tension-free retired life? This golden phase of life is awaited by almost all the individuals who has been a part of the rate race for years. But rising standard of living and inflation threaten to shatter this dream. However, with some meticulous planning, you can easily overcome these hurdles and enjoy your retirement. Birla Sun Life Insurance Retirement Solutions makes it easy for you to escape this financial conundrum. It offers three amazing retirement plans that help you in building a dependable fund of money to see you through the post-retirement stage. Birla Sun Life Insurance has more than 15 years of experience in the insurance sector and it is listed in the top 7 private life insurance establishments in the country. This insurance company understand your dreams and helps you in making them come true with their excellent plans. You don't have to wait till you turn 60 to enjoy the perks of a retired life. These plans will give you the freedom to choose your own retirement age and enjoy the best years of your life with these beneficial pension plans.

Benefits of Birla Sun Life Retirement Solutions:

The following are some of the benefits of Birla Sun Life Retirement Solutions:

  • The plans offered under this policy will help you to be independent and enjoy your golden innings.
  • Most of the plans are unit-linked, non-participating pension plans that make your retirement life hassle-free.
  • These plans help you in converting your savings into a regular source of income after retirement that you can use any time.

List of Retirement Plans provided by Birla Sun Life Insurance:

The following are the retirement plans offered by Birla Sun Life Insurance:

BSLI Empower Pension Plan: This is a non-participating, unit linked pension plan. This comprehensive and simple pension plan lets you gather your investment returns and premiums into a bulk amount so that you can lead a comfortable and independent life after retirement. While your premiums and investments will be accumulating, you will get a Smart Option that will allow the insurance company to administer and handle your investments for you.

Benefits and features:

Following are the benefits and features of BSLI Empower Pension Plan:

  • You get additional units included in your policy.
  • You get the freedom to choose your vesting date, basic premium and your risk profile.
  • You get vesting benefit that is either greater of your fund value or the guaranteed vesting benefit which is decided right at the beginning and varies according to the risk profile and the chosen vesting date.
  • You get surrender and death benefits.
  • The choice of risk profile will include three different categories-aggressive, moderate and conservative. Your vesting period will be determined on the kind of risk profile you choose.

BSLI Immediate Annuity Plan: This plan enables you to have a lump sum amount like the EPF. This plan serves as a financial planning tool that lets you combine your savings and bulk payouts that you can turn into regular income.

Benefits and features:

  • This plan has monthly, quarterly, semi-annual, or annual payout options that can be used as per your financial needs.
  • You get the freedom to choose the premium on the basis of the regular income that you want to get.
  • You get instant guaranteed income after retirement.
  • You don’t need a medical test to get this policy.
  • You receive tax benefits under Section 80CCC.
  • You get a free-look period that will let you return the policy within 15 days of its issuance.

BSLI Empower Pension-SP Plan: This plan allows you to choose your premium amount, your vesting date and your risk profile. This is a non-participating, unit-linked pension plan and it helps you to use your savings and investments as a source of regular income after retirement.

Benefits and features:

The following are the benefits and features of BSLI Empower Pension-SP Plan:

  • This plan provides you vesting benefit that is either greater of your fund value or the guaranteed vesting benefit which is decided right at the beginning and varies according to the risk profile and the chosen vesting date.
  • You get death and surrender benefits.
  • You can use the Smart Option available with this plan. According to this option, your file will be created depending on your chosen date of vesting and risk profile.
  • The choice of risk profile will include three different categories-aggressive, moderate and conservative. Your vesting period will be determined on the kind of risk profile you choose.
Plan Name Entry Age Maturity Age Premium
BSLI Empower Pension Plan 25-70 years 80 years If you are pay annually, the minimum basic premium is Rs.18,000. If you are paying semi-annually, the minimum basic premium is Rs.24,000. If you are paying quarterly, the basic minimum is Rs.30,000 and if you are paying monthly, the minimum basic premium is Rs.36,000.
BSLI Immediate Annuity Plan 30-90 years Information not available You can choose your basic minimum premium.
BSLI Empower Pension-SP Plan 25-70 years 80 years A minimum of Rs.1,00,000

Why does one Birla Sun Life Insurance Retirement Solutions?

Everybody worries about life after retirement. In this age, when inflation is ever-rising and medical bills could give you the jitters, the absence of a regular income can stress you out. This is why you need strong retirement plans that will ensure your and your family’s financial security. Birla Sun Life Insurance Retirement Solutions offers you plans that help you to not only save a lump sum amount of money but also turn your savings a regular source of income. The investment plans under these plans enable you to enjoy your golden innings in life with comfort and with zero worries. These non-participating, unit linked pension plans help you in making your investments meticulously and let you reap their benefits after your retirement. You also get the liberty to choose your premium, policy term and your vesting period which makes planning your savings and investments even easier. So you can go ahead and plan a foreign trip with your family or even start your own venture, all with your own money.