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Birla Sun Life Insurance Empower Pension Plan. i. Investment Options. Flexibilities. Charges. Disclaimers. Intro. Benefits. Plan Details. i. Investment Options. Flexibilities. Charges. Disclaimers. Intro. Benefits. Benefits. Plan Details. i. Investment Options. Flexibilities. - PowerPoint PPT Presentation
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Confidential Copyright Birla Sun Life Insurance Company Limited 2009
11
Birla Sun Life InsuranceEmpower Pension Plan
Copyright Birla Sun Life Insurance Company Limited 2012 2
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 3
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details Benefits
Copyright Birla Sun Life Insurance Company Limited 2012 4
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details Benefits
Copyright Birla Sun Life Insurance Company Limited 2012 5
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
I am afraid of any unforeseen events that might eat up
my savings
Happy? Satisfied? Maybe…
Plan Details Benefits
Copyright Birla Sun Life Insurance Company Limited 2012 6
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
I am worried about the increasing cost of medical
expenses
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 7
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
I am afraid that my investments won’t
perform well
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 8
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
I will need to support my children or
grandchildren
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 9
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
I haven’t saved enough
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 10
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
I won’t get enough from my work
pension scheme
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 11
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
I am concerned about the cost of looking after my
parents
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 12
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
I have too much outstanding debt
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 13
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Can my Income continue the way Life does post Retirement?
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 14
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi Plan
Details BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
BSLI Empower Pension Plan
Copyright Birla Sun Life Insurance Company Limited 2012 15
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi Plan
Details BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Entry Age : 25 to 70 years
Accumulation Term : 5 to 30 years, subject to maximum vesting age of 80 years
Premium Paying Term : Regular Pay
Policy Premium : Minimum Rs. 18,000 p.a. if paid annually
Minimum Rs. 24,000 p.a. if paid semi-annually
Minimum Rs. 30,000 p.a. if paid quarterly
Minimum Rs. 36,000 p.a. if paid monthly
Premium Payment Frequency
: Annual, Semi-Annual, Quarterly & Monthly
Copyright Birla Sun Life Insurance Company Limited 2012 16
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi Plan
Details BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Premium amount you wish to pay every year till the vesting date
Policy Premium
Accumulation period between 5 to 30 years
Vesting Date
Aggressive | Moderate | Conservative, based on your risk appetite
Once chosen, the risk profile cannot be changed
Risk Profile
You Choose
Copyright Birla Sun Life Insurance Company Limited 2012 17
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Structured depending on chosen vesting date and risk profile
Premiums invested under two investment funds
Maximiser Guaranteed – an equity fund
Income Advantage Guaranteed – a debt fund
BSLI will manage & administer the investments on your behalf
Allocation turns conservative as the vesting date approaches to protect accumulation
The proportion invested in Maximiser Guaranteed(an equity fund) will be according to the schedule given below – the remaining amount will be invested in Income Advantage Guaranteed(a debt fund):
Years to Risk Profile
Vesting Aggressive Moderate Conservative
5 0% 0% 0%
6 – 10 20% 15% 10%
11 – 15 40% 30% 20%
16 – 20 60% 45% 30%
21 – 25 80% 60% 40%
26 – 30 100% 75% 50%
Smart Option
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 18
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
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13-1
4/65
24
Smart Option Equity Allocation % | Risk Profile – Aggressive | Accumulation Term – 30 years
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 280
20
40
60
80
100
DebtEquity
All
oc
ati
on
%
Years to vesting
30 25 20 15 10 5
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 19
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Guaranteed Additions
6th policy anniversary and on every policy anniversary thereafter. Guaranteed Addition is 0.25% of the average Fund Value in the last 12 months; plus
11th policy anniversary and every policy anniversary thereafter. Guaranteed Addition is 0.35% of the average Fund Value in the last 12 months; plus
16th policy anniversary and every policy anniversary thereafter. Guaranteed Addition is 0.35% of the average Fund Value in the last 12 months
Vesting Benefit Higher of Guaranteed Vesting Benefit or Fund Value
Guaranteed Vesting BenefitAccumulation Risk ProfilePeriod (years) Aggressive Moderate Conservative
5 - - 105%6 – 10 101% 106% 112%11 – 15 102% 110% 119%16 – 20 103% 114% 126%21 – 25 104% 118% 133%26 – 30 105% 122% 140%
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 20
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Death Benefit Higher of Guaranteed Death Benefit or Fund Value
Where, Guaranteed Death Benefit is higher of (a) 105% of all Premiums paid or (b) Accumulation of all Premiums paid till date at a compounding
guaranteed rate.
The guaranteed rate varies by the risk profile chosen by the policyholder and is equal to 0.5% p.a., 1.5% p.a. and 3.0% p.a. for Aggressive, Moderate and Conservative risk profiles respectively.
Surrender Benefit Fund Value
Any surrender would we treated as per the Policy Discontinuance
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 21
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Option 1 Extend the accumulation phase, provided the is below the age of 55 years provided maximum vesting age is not more than 80 years. On extension, the funds will be automatically switched to Income Advantage Fund along with the premiums paid during extension period
Option 2 Enter into a single pay deferred pension plan with us as per then available products
Option 3 Commute to the extent allowed (as per the extant Income Tax Act) and utilize the balance to receive a stream of regular income from us as per our then available products
Option 4 Enter into an income phase with us as per our then available products on your surrender date
Option 1 Option 2 Option 3 Option 4
Vesting √ √ √ √
Death* √
Surrender √ √ √
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 22
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Premium Allocation
Policy Admin
Fund Management
Investment Guarantee 0.25% p.a. adjusted in NAV
Policy Year % of Premium
1 6%
2 - 3 5.5%
4 - 10 5%
11+ 4%
Policy Year Charge (in Rs.)
1 - 5 20 p.m.
6 + 25 p.m. plus 5% increase every year
Fund ChargeIncome Advantage
Guaranteed1.00%
Maximiser Guaranteed 1.35%
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 23
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Charges Disclaimers
Investment risk in the investment portfolio is borne by the policy holder
This is a Unit Linked pension plan
The premiums paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the policy owner is responsible for his or her decision
Birla Sun Life Insurance and BSLI Empower Pension Plan are only the names of the Company and Policy 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
Insurance is the subject matter of the solicitation
Tax benefits are subject to changes in tax laws
For more details and risk factors, refer to the product brochure
For Training purpose only
Plan Details
Copyright Birla Sun Life Insurance Company Limited 2012 24
BS
LI Em
power P
ension Plan – U
IN: 109N
078V02
PR
P: T
RA
/12/
13-1
4/65
24
Introi
BenefitsInvestment
OptionsFlexibilities Riders
+ Charges Disclaimers
Thank You
Plan Details