ABSLI Empower Pension Plan
Guaranteed⁴ Additions
Maximum vesting age 80 years
Pay ₹1 lakh3 for 25 years and get a fund value of ₹64.85 lakhs
Why buy ABSLI Empower Pension Plan?
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Partial withdrawal: You can make partial withdrawals after the completion of five policy years to meet any financial emergency.
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Easy investment tracking: You can easily monitor your investments online using our website.
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Customizable risk profile: You can choose any risk profile (Aggressive/ Moderate/ Conservative) for your investments at the inception of the policy.
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Plan options: 2 plan options with assured benefits. You can choose the right retirement plan that fits your needs and requirements.
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Broad entry age: Anyone between 25-70 years of age can invest in this pension plan.
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Choose your vesting date: While buying the retirement plan you can choose the vesting date as per your retirement plans and goals. This is the date from which you will start receiving the policy benefits.
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Flexible Premium Payment: You can choose to pay the basic premium at your convenience. You can pay the premium monthly, quarterly, half-yearly or annually under this policy.
Benefits of ABSLI Empower Pension Plan
ABSLI Empower Pension Plan is a market-linked product with which you can generate a sizable retirement corpus in the long term. The plan guarantees the financial protection of your family in case of any unfortunate event.
Assured Option:
Plan Options
ABSLI Empower Pension Plan comes with two plan options you can choose from.
How does ABSLI Empower Pension Plan work?
Learn with an example.
- Mr. Sharma purchased the ABSLI Empower Pension Plan to save funds for his retirement. He was 39 years old when he bought the policy.
- Mr. Sharma chose an assured plan option and the risk profile was aggressive.
- The annual basic premium paid was Rs.2 lakhs and the accumulation period was 10 years.
- After 10 years, if Mr. Sharma survives the whole term, he will receive the total fund value. The rate of returns expected @8% will be Rs.27,19,208/-. The death benefit will also be Rs.27,19,208/- and @4% will be Rs.21,73,426/-. The death benefit @ 8% will also be Rs.27,19,208/- and @4% will be Rs. 21,73,426.
- Mr. Sharma purchased the ABSLI Empower Pension Plan to save funds for his retirement. He was 45 years old when he bought the policy.
- Mr. Sharma chose an assured plan option and the risk profile was conservative.
- The annual basic premium paid was Rs.1 lakh with premium payment term of 5 years and the accumulation period was 6 years.
- After 6 years, if Mr. Sharma survives the whole term, he will receive the total fund value. The rate of returns expected @8% will be Rs.6,04,240/- and @4% will be Rs.5,60,000/-.The death benefit @8% will also be Rs. 6,04,240 and @4% will be Rs. 5,25,000/-.
Plan for your dream retirement from today
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Entry Age (age last birthday) |
25 – 70 years |
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Accumulation Period |
5 – 30 years for Regular Pay, 6 to 30 years for Limited Pay,
subject to maximum vesting age of 80 years |
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Premium Paying Term |
Limited and Regular pay |
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Basic Premium |
Minimum Rs. 18,000 p.a. if paid annually Minimum Rs. 24,000 p.a. if paid semi-annually Minimum Rs. 30,000 p.a. if paid quarterly; or Minimum Rs. 36,000 p.a. if monthly |
What’s not covered?
ABSLI Empower Pension Plan does not cover you for:
— Suicide. In case of death due to suicide within 12 months from the date of commencement of the policy or from the date of revival of the policy, as applicable, the nominee or the beneficiary of the Policyholder shall be entitled to the Fund Value, as available on the date of intimation of death.
Further any charges other than Fund Management Charges (FMC) recovered subsequent to the date of death shall be added back to the Fund Value as available on the date of intimation of death.
How to initiate Claim?
3 quick steps, everything online.
- Fill basic details
- Claim intimation
- Document submission
ABSLI Empower Pension Plan FAQs
- Guaranteed additions to boost your retirement corpus
- Assured Option to enjoy a guaranteed benefit on vesting, or Self-Managed Option to choose from various funds as per risk appetite, with Policy Fund Value payable on vesting
The following are the policy charges:
- Investment Guarantee Charge: For Assured Option, the daily unit price of the investment fund is adjusted to reflect an investment guarantee charge of 0.25% p.a. We may change the investment guarantee charge in the future upto a maximum of 0.50% per annum, subject to IRDAI approval. For Self-Managed Option, this charge is Nil.
- Premium allocation charge: Premium allocation charge is deducted from your basic premiums when received and before invested in the investment funds. The premium allocation charge as a percentage of basic premium is:
Policy year
1
2-3
4-10
11+
%of basic premium
6.00%
5.50%
5.00%
4.00%
- Fund Management Charge: The daily unit price of the investment fund is adjusted to reflect the fund management charge.
- 1.00% p.a. for Income Advantage Guaranteed, Liquid Plus, Income Advantage, Assure, Protector and Builder.
- 1.25% for Enhancer, Creator, Capped Nifty Index and Asset Allocation
- 1.35% p.a. for Maximiser Guaranteed, Magnifier, Maximiser, Super 20, Multiplier, Pure Equity, Value & Momentum and MNC
- Pension Linked Discontinued Policy Fund is 0.50% p.a.
- We may change the fund management charge under any segregated fund at any time subject to a maximum of 1.35% p.a. in the future and subject to IRDAI approval.
- Policy Administration Charge: The policy administration charge is Rs. 20 per month for the first five policy years. It shall increase to Rs. 25 per month in the sixth year and inflate at 5% p.a. thereafter, subject to a maximum of Rs.6,000. This charge is levied at the start of every policy month by canceling units proportionately from the segregated funds you have at that time.
- Switching Charge: Switching charge is deducted from your Policy Fund Value in case you request for a switching between investment options or Segregated Fund Switch. We currently charge Rs. 50 per request and reserve the right to increase this charge at any time in the future, subject to a maximum of Rs. 500 per request and prior IRDAI approval.
- Partial Withdrawal: Partial Withdrawal Charge is deducted from your Policy Fund Value in case you request for a partial withdrawal. We currently charge Rs. 50 per partial withdrawal and reserve the right to increase this charge at any time in the future, subject to a maximum of Rs. 500 per request and prior IRDAI approval.
- Miscellaneous Charge: We currently charge Rs. 50 per request for any additional servicing request. We reserve the right to charge upto a maximum of Rs 500 per request for additional servicing requests. Any increase in the miscellaneous charges will be subject to IRDAI approval.
- Goods & Service Tax (GST): GST and other levies, as applicable, will be levied on your charges as per the extant tax laws.
Other Insurance Plans
Multiple Annuity options
Deferred Annuity option
Option to increase annuity through top-ups
(UIN: 109L094V02)
Investment options to suit your financial needs
Choose the single premium amount you wish to pay
Tax Benefits
(UIN: 109N130V01)
Guaranteed regular Income for retired life
Choice of multiple pay-out options
No medical tests
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Disclaimer
3 Life Insured: Male, 25 years, basic premium:Rs.1 lakh, policy term 25 years, accumulation period 25 years, plan option: Assured (8% Fund Value), premium payment frequency: annual. Fund value at end of policy term @8% is: ₹64,85,173/- and @4% is ₹36,09,911/-.
4 Provided all due premiums are paid. The linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year. Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is an Individual unit linked pension plan. Aditya Birla Sun Life Insurance and ABSLI Empower Pension Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. The name of the funds offered in this plan does not in any indicate their quality, future prospects or returns. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the investment fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns above the guaranteed returns from the investment funds. GST and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. UIN: 109L078V03 ADV/6/22-23/472
