Aditya Birla Pension Plan Calculator

One can even calculate the required investment amount to get a certain retirement amount at the term-end.     

Why Should You Use Aditya Birla Pension Plan Calculator?

Using the Aditya Birla Pension Plan calculator is an excellent way to estimate the coverage and how to approach it. Without the calculator, it can be challenging to assess the sum assured and the premium amounts correctly. 

However, one must have a fair idea of their regular expenses, assets and liabilities. Entering similar information in the online calculator can help determine premium and lump-sum amounts.

How To Use Aditya Birla Pension Plan Calculator?

Getting the investment and the final lump sum amount by using the Aditya Birla Pension Plan calculator is smooth as butter. 

Following are some steps that one must follow to know plan details:

• The first step is to visit the official website of Aditya Birla Life Insurance.
• After that, from the above tab, select "retirement planning calculator" from the "calculator" drop-down list.
• This redirects the user to the calculator page.
• Next, proceed to fill in the details like current age, retirement age, monthly income, monthly expense, etc., by pressing "next".
• When done, finally, for the last time, press "Next", and the Aditya Birla Pension Plan calculator will calculate the final lump sum amount, monthly premium, and term years.

Advantages of Aditya Birla Pension Plan Calculator

With inflation and increasing expenses, it is crucial to retain financial independence even after retirement. An online pension calculator is used to get an estimate of the plan benefit, including terms and conditions. 

Some advantages of the calculator are mentioned below:

• To determine initial investment: To receive a certain amount at the end of the retirement plan, one will need to know how much they need to invest today to achieve that sum. This online calculator makes it easy to get the estimation of the initial investment amount to receive a particular benefit at the end of the period.
• To determine the lump sum: even if one starts saving for the future, many factors affect that amount. There is inflation, an increase in expenditure, rate of return, etc. Thus, one will not be able to estimate the right amount they need to have a secure retirement. The Aditya Birla Pension Plan calculator takes care of these factors and assesses the final saving amount, sufficient to have financial security post-retirement.  

Things To Remember

The Aditya Birla Pension Plan calculator helps ease the policy buying process with its clean interface. All that one needs to do is fill in the following details:

• Date of birth
• Current age
• Plausible retirement age
• Annual income
• Savings (includes bank balance and investments)
• Monthly expense
• Post-retirement accommodation (rent/EMI)
• Rate of return 
• Growth in the annual income
• Rate of growth on savings

Benefits of Aditya Birla Pension Plan 

According to their current income, the Aditya Birla pension plan considers the customers’ requirements to customise the policy. 

Some of the benefits one can get from Aditya Birla pension plan are:

• Smart option: The premiums paid will be invested in two funds, the equity fund known as Maximiser Guaranteed and the debt fund called Income Advantage Guaranteed. The proportion of investment depends on the risk profile and vesting date.
• Vesting benefits: The policyholder will receive the greater amount, the Fund Value or the Guaranteed Vesting Benefit. And this will be received on the predetermined vesting date.
• Guaranteed additions: The policyholder gets additional benefits on various policy anniversaries. The additions are calculated on a percentage basis of the Fund Value in the last 12 months. The benefit accrued from the 6th -10th policy anniversary is 0.25% and from 11^th anniversary onward is 0.35%.
• Surrender benefit: The option to surrender the pension policy is available. It should be done during the first five years into the policy.
• Income tax benefit: Under Section 80CCC of the Income Tax Act, the premium paid is exempted from tax. And the commuted amount is exempted under the Section10 (10A) of the Income Tax Act. The death benefit is also exempted under Section 10(10D), Income Tax Act.
• Death benefit: The Death Benefit paid will be the greater one among the Fund Value and the Guaranteed Vesting Benefit. And the Guaranteed Vesting Benefit will be either the compounded amount of all the premiums paid to the date or the 105% of all the premiums paid, whichever is greater.      

Aditya Birla Pension Plan Premium Rates

The premium amount is determined based on the policyholder's current age, retirement age, and the years between the retirement age and the current age. The higher the gap and income amount, the higher will be the benefit amount. All these can be estimated using the Aditya Birla Pension Plan calculator. 

The basic general eligibility criteria and premium payment terms are as follows:

FAQ's

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

“Tax benefit is subject to changes in tax laws. Standard T&C apply.”