Protecting Your Post-Retirement Money Needs Made Easy
The ABSLI Saral Pension Plan is a non-linked, non-participating single premium immediate annuity plan from Aditya Birla Sun Life Insurance. It provides guaranteed regular income for life, ensuring a worry-free retirement for you and your family.
Key Features:
- Guaranteed Regular Income: Provides a consistent income throughout retirement.
- Lifetime Annuity Payments: Option to receive payments for as long as you or your partner are alive.
- Flexible Pay-Out Options: Choose from multiple pay-out options to suit your needs.
- No Medical Tests: Simplifies the application process with no medical examinations required.
Plan Options:
- Option 1: Life Annuity with Return of 100% of Purchase Price (ROP)
- Benefit: Provides a fixed annuity guaranteed at policy inception.
- Death Benefit: 100% of the purchase price is payable in a lump sum to the nominee/legal heirs upon the death of the annuitant.
- Survival Benefit: Regular annuity payments will continue as long as the annuitant is alive.
- Option 2: Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP)
- Benefit: Guarantees a fixed annuity for as long as either of the annuitants is alive.
- Death Benefit: On the death of the last survivor, 100% of the purchase price is payable in a lump sum to the nominee/legal heirs.
- Survival Benefit: Regular annuity payments continue as long as either annuitant is alive.
Illustration of How ABSLI Saral Pension Plan Works:
- Purchase Price: You make a single premium payment to purchase the plan.
- Annuity Payments: You start receiving regular annuity payments according to the chosen pay-out frequency (e.g., monthly, quarterly, annually) from the date of purchase.
- Lifetime Income: The annuity payments continue for the duration of your life or the life of the surviving annuitant if you select the joint life option.
- Death Benefit: Upon the death of the annuitant(s), the remaining purchase price is paid out to the nominee/legal heirs.
Benefits:
- Guaranteed Income: Ensures a stable income for life.
- Flexibility: Choose between single or joint life options, and select from multiple payout frequencies.
- Security: Provides financial protection for your family with a return of the purchase price upon death.
Eligibility:
- Age: Typically applicable for individuals meeting age criteria specified by the insurer.
- Premium Payment: Single premium payment required.
Maturity Benefit:
- No Maturity Benefit: The plan does not offer a maturity benefit.
Rider Benefits:
- Not Applicable: No additional riders are available with this plan.
How to Proceed:
- Download Brochure: For more details, download the brochure from the ABSLI website.
- Enquire Now: Contact ABSLI through their website, phone, or visit a local branch to get more information or purchase the plan.
This plan is ideal for those seeking a simple, reliable way to secure their retirement income, with guaranteed payouts and no medical underwriting required.