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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
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Experience ConseQuest- A game where your decisions drive your future.
Retirement Plans
- Guaranteed# regular income for life
- Top-ups to increase pension
- Protection against inflation
Why do you need a Retirement Plan?
A retirement plan combines life insurance and savings to secure your family’s financial future as well as your retired life.
Guaranteed# Income
Receive a regular income for a secure and independent retired life
Flexible Options
Choose how to invest, how you want to get paid and how often you get pension payments
Diversification
Expand your investments in stocks, bonds, and deposits
Customisable Maturity Age
Decide when you want to start getting retirement benefits
Death Benefit
Ensure financial security for your loved ones in the event of your untimely demise
Surrender Value
Receive an amount even if you terminate your policy before maturity
Our Retirement Plan At A Glance.
The easiest way to secure your golden years and sustain your quality of life even after you retire.
ABSLI Guaranteed Annuity Plus
UIN: 109N132V08
KEY FEATURES 
- Increase pension amount with top-ups
- Get enhanced pensions for critical illness
- Enjoy guaranteed# lifelong income
Annual Annuity
₹89,4961Premium
₹10 lakhCheck Your Eligibility
Before you start your journey to a better retirement, ensure you qualify and have the necessary documents.
Eligibility Criteria
- Age 18 to 65 years
- Citizenship Indian citizen residing in India at the time of purchase
- Income Varied criteria depending on the plan
- Medical tests Underwriting of genuine medical history
Documents Needed
- Proposal form
- Age proof
- Photo identity proof
- Address proof
- Medical report
- Income proof
- PAN/ Aadhaar card
Get Insured In 5 Easy Steps
Pick a plan that fits your needs
Share the required personal details
Select the sum assured, riders, payment cycle, etc.
Go through the coverage and exclusions
Complete payment and submit documents
Go through the coverage and exclusions
Complete payment and submit documents
Things To Keep In Mind
As per the Income Tax Act, 1961
- Under Section 80C : Deduction on premium payments up to ₹1,50,000
- Under Section 10(10D)** : Exemption on death benefit
How to claim
- This applies to death claims as well as rider claim
- You can make a claim online or at a branch
- Suicide and self-harm
- Pre-existing diseases
- Death due to participation in criminal activities
Customer Satisfaction Stories
Hear from our customers what they have to say about their experience.
Aditya Birla Sun Life Insurance Customer
Entire surrender process was quite smooth with timely documentation and payout. Great experience!
Aditya Birla Sun Life Insurance Customer
Gujarat, India
Aditya Birla Sun Life Insurance Customer
Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.
Aditya Birla Sun Life Insurance Customer
Haryana, India
ABCD - One app for all your insurance needs
Secure yourself and your loved ones financially with life insurance. Buy online through the ABCD app and get instant coverage.
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Range of insurance policies to choose from -
Online premium payments
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Few clicks to buy the plan
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Understanding Retirement Plans
How to choose a Retirement Plan ?
- Financial goals
Define your retirement financial goals, whether it's monthly income, lump sum needs, or specific financial milestones. Select a plan that matches your objectives.
- Risk appetite
For a cautious approach, explore plans with conservative options like fixed deposits or debt funds. If you're comfortable with risk, consider plans with equity exposure.
- Investment horizon
Take into account your years until retirement; it impacts your investment decisions and risk capacity. Longer horizons often mean more room for more aggressive investment strategies.
- Flexibility
Look for plans with flexibility in investment choices, payout frequencies, and annuity options. Tailor your plan to match your unique needs and preferences.
- Returns
Compare the historical returns of various retirement plans and select one that offers competitive investment returns.
How do Retirement Plans work ?
- Today: You choose a retirement plan based on your goals and needs.
- Throughout the policy term: You pay regular premiums at your chosen frequency.
- Death benefit: If you pass away, the accumulated value of your fund is paid out to your loved ones.
- Maturity benefit: If you survive the term, the accumulated value continues growing till you retire.
- Payout: The payout can be redeemed in two ways:
a. Lump sum payout: After retirement, you can get the whole fund at once.
b. Regular income: Otherwise, you can choose to get periodic payments to supplement your retirement income.
Who should get Retirement Plans?
Young adults
Planning your retirement early offers many benefits such as a long investment period, disciplined financial habits, and a lower premium. With fewer financial responsibilities, putting money towards your future is also easier.
Breadwinners
Since the plan also offers life cover, the breadwinner of the family should ensure in their absence the others are taken care of. Death Benefit from the life cover can ensure that.
Parents
Not only will it ensure that your children’s education or upbringing doesn’t get hampered by your untimely demise but will also help you create and leave a lasting legacy for them.
People seeking independence
It allows you to accumulate wealth over many years and get periodic income from it after retirement. This way you don’t need to rely on anybody else in your golden year.
What are the payout options in Retirement plans?
Lump sum
This is the most common payout option, where the whole sum is paid out at once. This applies to both, the death benefit to your family as well as the maturity benefit to you. A lump sum payout provides immediate access to funds to cover living expenses, debts, etc.
Annuity
It provides a series of payments, which can be guaranteed for a specific period and then payable over your lifetime. Annuity payment can provide a stable income stream, but it may have fewer customisation options compared to other payout methods.
Joint life option
If you are married, you can select the joint life payout option. This option continues to provide income to your spouse after your untimely demise to ensure they are financially independent even after you are gone.
Combination payout
In this option, a part of the death benefit is paid out as a lump sum amount, and the remaining amount is paid out as a regular income to you or your beneficiaries. A combination payout can provide both immediate financial support and a long-term income stream.
What are the key benefits of Retirement plans?
Guaranteed income
Retirement plans provide a dependable income stream throughout retirement, ensuring financial stability and independence. This allows you to maintain your desired lifestyle even in your golden years.
Flexibility
Retirement plans provide various investment choices, payout schedules, and annuity selections, enabling you to customise the plan to align with your specific needs and risk tolerance.
Customisable Maturity Age
These plans have a designated vesting age, the point at which you become eligible to receive plan benefits, and this age can frequently be adjusted to align with your personal preferences.
No Longevity Risk
As your financial needs increase, the risk of exhausting the existing savings is higher than ever. The right retirement plan allows you to get regular payments for as long as you live, ensuring financial security in retirement.
Peace of Mind
At the end of the day, it is still a life insurance plan with all the benefits of one. This means your family is financially secure even if something happens to you. Moreover, you can also rest easy knowing you’ll have substantial savings for your retirement years.
What are the tax benefits* of Retirement plans ?
- How?: You can claim a tax deduction on the retirement plan premiums paid by you.
- Which plans?: All retirement plans are eligible for tax deductions.
- How much?: You can save up to ₹1,50,000 of your taxable income per year through retirement plans under Section 80CCC.
- What else?: Even the death benefit paid out to your beneficiaries is completely tax-free.
How much do I need to retire?
You can calculate how much you’ll need to save up for retirement by considering 4 things:
- 1. Check your monthly expenses
- 2. Consider your retirement goals
- 3. Calculate expected income after retirement
- 4. Think about inflation
Solutions-Oriented Children Fund
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Targeted maturity for funds
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Hybrid portfolio diversifies risk
Health and Wellness Plans
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Variety of plans available
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Complete coverage for protection
FAQs on Retirement Plans
A retirement plan is a financial strategy to save money for when you no longer work. It offers different ways to save and invest, like pensions, savings accounts, and insurance, to match what you want and the amount of risk you are willing to take. The primary aim of a retirement plan is to ensure you have sufficient funds for a comfortable life once you hit retirement.
A retirement plan allows you to be financially independent even after you stop working thereby ensuring that you can maintain your standard of living. These plans also provide a safety net for unexpected expenses, like medical emergencies or home repairs, without depleting savings. You can live your golden years with no financial stress and without being a burden on your children either.
A retirement plan offers a mix of protection and wealth creation through investment. It works as follows:
• Plan Selection: Choose a plan that works with your financial goals, risk appetite, and investment horizon.
• Premiums: Pay the premium annually, semi-annually, quarterly, or monthly as per your plan during your working years.
• Financial Instruments: The money you put in your retirement plan is invested in multiple financial instruments, such as equities, bonds, and fixed deposits.
• Wealth Accumulation: Over time, your contributions, coupled with investment returns, accumulate to form a retirement fund.
• Maturity Age: The vesting age is the point at which you can begin receiving plan benefits and is adjustable to fit your needs.
• Payouts: At the vesting age, you can receive payouts from your retirement plan, which can be a lump sum, regular income, or a mix, depending on the plan and your choices.
• Death Benefits: If the policyholder passes away during the plan term, certain retirement plans offer death benefits to the nominee, guaranteeing financial security for your family.
Starting in your 30s or as soon as you start working is the optimal time to initiate retirement plan investments, leveraging the advantages of compound interest and establishing a reliable income stream.
Starting a retirement plan right after you get your first job is a smart move. When you begin early, your money has more time to grow because of compound interest. Plus, many jobs offer retirement plans, and some even add extra money to your savings, so you get even more. It's like a good money habit that sets you up for a secure financial future. But make sure you think about other money needs, like paying off any high-interest debts and having some emergency money saved up. So, starting early is great, but make sure it fits your financial needs.
Yes, it is possible to have multiple retirement plans simultaneously to diversify your savings and achieve different financial goals.
The different types of plans include pension plans, retirement insurance plans, retirement savings plans, National Pension System (NPS), Employee Provident Fund (EPF), and Atal Pension Yojana (APY).
Calculating your retirement corpus involves several steps: Start by understanding your post-retirement expenses, accounting for inflation, projecting the years you'll spend in retirement, and factoring in any supplementary income streams like pensions or rental earnings.
You need the following documents to get a retirement plan:
• Age proof: A birth certificate, passport, Aadhaar card, or other document that proves your age.
• Identity proof: A PAN card, Aadhaar card, passport, or other document that proves your identity.
• Address proof: A utility bill, Aadhaar card, passport, or other document that proves your address.
• Income proof: Salary slips, income tax returns, bank statements, or other documents that prove your income.
• Medical history: A disclosure of your medical history and, depending on the insurance company, a medical check-up.
• Photograph: A recent passport-size photograph.
• Nomination form: A completed nomination form specifying the name and details of the beneficiary who will receive the death benefit.
Steps to buy a retirement plan online:
1. Research and compare plans: Look at different term insurance plans from different insurance companies and compare their coverage, premiums, and features.
2. Choose your coverage and premium: Pick the coverage amount and premium that best meet your needs and budget.
3. Assess the returns to understand whether the coverage is optimal - Estimate the returns from the pension plan based on your investment. Check if the fund created by the plan would be able to fulfil your financial goals or not.
4. Fill out the application form: Fill out the online application form, which usually asks for personal information, contact information, and nominee details.
5. Upload your documents: Upload the required documents, such as age proof, identity proof, address proof, income proof, and photographs.
6. Undergo a medical check-up (if required): Some insurance companies may require a medical check-up before issuing the plan.
7. Make your payment: Pay the premium online using a debit card, credit card, net banking, or any other payment method accepted by the insurance company.
8. Receive your policy document: Once the payment is confirmed, you will receive your plan document via email or post.
A Participating Pension Plan, also known as a with-profit policy, allows policyholders to share in the insurance company's profits through bonuses or dividends. Bonuses are distributed on an annual basis under this policy. It's important to note that the bonus is not guaranteed and depends on the insurance company's performance. The key advantage of Participating Plans is that they offer both protection and returns in the form of bonuses.
Non-participating plans, also referred to as without-profit or non-par policies, do not involve sharing profits, and policyholders do not receive dividends. In these policies, there are guaranteed# death benefits and maturity benefits. An advantage of Non-Participating Plans is that their premiums are typically lower compared to participating policies. This cost-effectiveness makes them an attractive option for those seeking guaranteed# benefits without the prospect of bonuses or dividends.
You might have the option to terminate your retirement plan and receive a surrender value, which could be less than your total investment and may involve associated penalties.
Picking a life insurance policy with guaranteed# benefits in retirement can be a more reliable choice for securing retirement income than other investments. It also serves as financial protection for the family in the unfortunate event of the policyholder's demise.
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Steady Retirement Income: Certain life insurance policies provide a reliable income stream post-retirement, alleviating financial burdens and supporting one's family.
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Financial Discipline: Life insurance policies instil a sense of financial discipline through regular premium payments, fostering a savings mindset and wealth accumulation for retirement.
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Protection Against Medical Costs: Life insurance policies with periodic payouts serve as a safety net for medical expenses during retirement.
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Reduced Investment Risk: Life insurance policies offer low-risk options with guaranteed payouts or annuity choices, complementing riskier equity and mutual fund investments.
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Financial Security For The Family: In the event of the policyholder's demise, a life insurance policy ensures the family's financial stability, maintaining their quality of life.
Yes, you have the option to update the nominee of your policy by completing a nomination change form and submitting it to your plan provider along with the necessary documentation.
Our Other Insurance Plans
ABC Of Insurance
**Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein
#Provided all due premiums are paid
^ As per annual audited figures submitted to IRDAI for the period FY 22 – 23 for individual death claims paid.
$ As on 30th November 2023
$$ As on 31st December 2023
¹ Male age 60 years, Annuity Option -Life Annuity, Annuity Payout Frequency-Annual, Option chosen of Premium, Purchase Price Rs.10,00,000, Level Annuity, PPT: Single Pay, Single Life. Receive Annuity Rs.89,496 per annum/-
ABSLI Guaranteed Annuity Plus Plan is a Non-Linked, Non-Participating, General Annuity Plan (UIN: 109N132V09).
ADITYA BIRLA CAPITAL DIGITAL LIMITED is a corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: CA0871 and does not underwrite the risk or act as an insurer.
Registered Address: 18th Floor, One World Center, Tower 1, Jupiter Mills Compound,841 Senapati Bapat Marg, Elphinstone Road Delisle Road, Mumbai Maharashtra 400013. Participation by the ABCD’s clients in the insurance products is purely on a voluntary basis.
The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License. This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest after attainment of majority of the Life Insured. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. Tax benefits are subject to changes in tax laws.
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. Registered Office: One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No.109 | Toll Free No. 1-800-270-7000 | Website: https://lifeinsurance.adityabirlacapital.com | CIN: U99999MH2000PLC128110 | ABSLI Guaranteed Annuity Plus | UIN: 109N132V09 | ADV/3/23-24/3868
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.