Birla Sun Life Empower Pension Plan

Formerly known as Birla Sun Life Insurance Company Limited, Aditya Birla Sun Life Insurance is one of India's leading life insurance companies offering a range of products such as child plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans.

Incorporated on August 4th, 2000 and commenced operations on January 17th, 2001, Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a subsidiary of Aditya Birla Capital Limited. ABSLI is a joint venture between the Aditya Birla Group and Sun Life Financial Inc. The total Assets Under Management of ABSLI stand at Rs. 410,110 million (as of June 30th, 2019).

Aditya Birla Sun Life Empower Policy is a unit linked pension plan which allows the policyholder to enhance savings.

The benefits of this plan are:

• Guaranteed Additions - Additional units will be added to your policy on 6th policy anniversary and every policy anniversary thereafter, Guaranteed Addition is 0. 25% of the average Fund Value in the last 12 months; plus/on 11th policy anniversary and every policy anniversary thereafter, Guaranteed Addition is 0.35% of the average Fund Value in the last 12 months; plus/on 16th policy anniversary and every policy anniversary thereafter, Guaranteed Addition is 0.35% of the average Fund Value in the last 12 months.

• Vesting Benefits - On your vesting date, you will receive the greater of your Guaranteed Vesting Benefit or the Fund Value.

• Death Benefit - The death benefit payable will be greater of your Guaranteed Vesting Benefit or the Fund Value as on the date of intimation of death. The Guaranteed Death Benefit is the greater of 105% of all basic premiums paid or accumulation of all basic premiums paid till date at a compounding guaranteed rate.

• Surrender Benefit - Option to surrender the policy till vesting during the first five policy years.

• Smart Option - Your premiums are put in two investment funds, Maximiser Guaranteed (an equity fund) and Income Advantage Guaranteed (a debt fund) in a predetermined proportion based on the selected vesting date and risk profile.

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The premium details of this plan are:

This plan has the following exclusions:

• If the Life Assured, whether sane or insane, commits suicide within one year from date of issuance of this policy, only the Fund Value, as available on the date of death, will be payable.
• If the Life Assured, whether sane or insane, commits suicide within one year from date of revival of policy, only the Fund Value, as available on the date of death, will be payable.