ABSLI Empower Pension SP Plan

All You Need To Know

Guaranteed Additions

You will be benefitted in the form of additional units added to your policy from 6^th policy year onwards.

Vesting Benefit

Your vesting benefit will differ as per your plan option chosen:

Assured Option:

On your vesting date you will receive the greater of (a) Guaranteed Vesting Benefit net of partial withdrawals made since inception of your policy or (b) the Policy Fund Value on Policy vesting date. The Guaranteed Vesting Benefit varies by your chosen vesting date and risk profile. Guaranteed Vesting Benefit once assigned to your policy at inception shall remain constant.

Self-Managed Option:

You will receive the Policy Fund Value on the policy vesting date.

Death Benefit

In the unfortunate event of the life insured’s death, while the policy is in effect, we will pay to the nominee the greater of (a) the Guaranteed Death Benefit or (b) Policy Fund Value as on date of intimation of death. The Guaranteed Death Benefit is equal to 105% of single premium paid less partial withdrawals made during two-year period immediately preceding the death of the life assured.

View Commission-related information

FAQs

What is vesting benefit?
It is a benefit you are entitled to which is absolute, complete and not dependent on any condition.
How long does the policy last?
Your policy will be terminated at the earliest of:

the date when the policy is surrendered as per the Policy Discontinuance Provision; or

the date when the Policy Fund Value becomes zero; or

the date of settlement of the death benefit; or

the date of payment of the surrender benefit, if any; or

the date when the Vesting benefit is paid
How do I pay pension plan premiums?
To purchase your onetime premium pension plan, you can get in touch with an ABSLI Advisor or visit your nearest ABSLI Branch to pay premiums.
When will my pension start?
You will get your retirement corpus after the accumulation phase is over.
Where do I contact for any concerns?
You can call our Toll-Free No. 1800 270 7000, visit the branch or reach out to your ABSLI Advisor for any concerns regarding your single premium retirement plan.

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Disclaimer

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited and does not underwrite the risk or act as an insurer.

Registered Address: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Aditya Birla Sun Life Insurance Company Limited and the Insured and not between HDFC Bank and the Insured.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance pension plan. Aditya Birla Sun Life Insurance and ABSLI Empower Pension – SP Plan are only the names of the Company and unit linked life insurance contract 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 NAV 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. Service Tax and Education Cess and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. This brochure contains the salient features of the plan. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document For further details please refer to the policy contract. The various funds offered under this contract are the names of the funds and do not any way indicate the quality of these plans, their future prospects and returns. ULIP Issued on or after 1st February 2021 where the annualised premium exceeds Rs 2.5 lakh at any time during the premium paying term, the amount received on maturity shall not be entitled for exemption under section 10(10D) of the Income-tax Act, 1961. However, death benefit received shall be exempt u/s 10(10D). Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. Insurance is the subject matter of solicitation. Aditya Birla Sun Life Insurance Company Limited. Registered Office: One Indiabulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 UIN: 109L094V02 ADV/3/19-20/1919 VER2/MAR/2020

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.