Aditya Birla Sun Life Insurance Saral Pension is a non-linked, non-participating, single premium individual immediate annuity plan designed to provide a guaranteed regular income for life. This plan ensures that you and your family can enjoy a worry-free retirement life.

Key Features of ABSLI Saral Pension Plan

Guaranteed Regular Income for Retired Life: The plan offers a consistent income throughout your retirement years.
Option to Receive Annuity Payments for Life: You have the choice to receive payments for as long as you or your partner are alive.
Choice of Multiple Pay-out Options: Flexibility to choose from different payout options that best suit your financial needs.
No Medical Tests Required: Simplifies the process of obtaining coverage.

Plan Options

Life Annuity with Return of 100% of Purchase Price (ROP): This option provides a life annuity, and upon the annuitant’s death, 100% of the purchase price is returned to the nominee or legal heirs.
Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on Death of the Last Survivor: This option ensures that the annuity continues to be paid as long as one of the annuitants is alive. Upon the death of the last survivor, 100% of the purchase price is paid to the nominee or legal heirs.

Benefits

Death Benefit

Option 1: Life Annuity with Return of 100% of Purchase Price (ROP): Upon the annuitant’s death, the nominee or legal heirs receive 100% of the purchase price in a lump sum.
Option 2: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on Death of the Last Survivor: In the event of the first death among the annuitants, the annuity continues to be paid to the surviving annuitant. After the death of the last survivor, the annuity payments stop, and the purchase price is paid in a lump sum to the nominee or legal heirs.

Survival Benefit

Option 1: Life Annuity with Return of 100% of Purchase Price (ROP): A fixed annuity, guaranteed at the inception of the policy, is paid to the annuitant.
Option 2: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on Death of the Last Survivor: A fixed annuity, guaranteed at the inception of the policy, continues to be paid as long as either of the annuitants is alive. The annuity is payable in arrears at the end of the chosen annuity payment frequency from the plan’s purchase date.

Please refer to the brochure for a detailed description of these benefits.

Maturity Benefit

There is no maturity benefit under this product.

Rider Benefits

Not applicable.

How Does ABSLI Saral Pension Plan Work?

This plan provides a reliable and consistent income stream for life, ensuring that your financial needs are met throughout your retirement.

ABSLI Saral Pension FAQs

What are the key features of ABSLI Saral Pension? The key features include guaranteed regular income, the option to receive payments for life, multiple payout options, and no medical tests required.

What is the age criteria for this plan? The specific age criteria for eligibility are detailed in the plan’s brochure.

What are the Plan Options available in this plan? Can these options be changed during the Policy Term? The plan offers two options: Life Annuity with Return of 100% of Purchase Price (ROP) and Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on the death of the last survivor. These options cannot be changed during the policy term.

What is the minimum Purchase Price amount (Single Premium)? The minimum purchase price varies and is outlined in the plan’s terms and conditions.

What is the minimum and maximum annuity payable in this plan? The minimum and maximum annuity amounts depend on the purchase price and other factors specified in the plan details.

Are my annuity rates guaranteed? Yes, annuity rates are guaranteed.

What is the maturity benefit under this plan? There is no maturity benefit under this plan.

Does the plan offer a top-up option? No, the plan does not offer a top-up option.

Is there any rider benefit in this plan? There are no rider benefits available under this plan.

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