Aditya Birla Pension Plan Calculator

Aditya Birla and Sun Life Financial Inc. formed the joint venture company Birla Sun Life Insurance Company Limited (BSLI). In India, BSLI offers different plans with multiple features and benefits to its insurance customers. One of the popular plans is a pension plan that helps provide financial security during old age. The interested parties can even estimate the lump sum amount, which they will receive at the end of the period with the Aditya Birla Pension Plan calculator.

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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.  

People also read: best pension plan in india

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 11th 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:

Feature

Maximum 

Minimum 

Eligibility age

70 years

28 years

Vesting age

80 years

-

Policy tenure

30 years

5 years

 

Feature

Maximum 

Minimum 

Premium payable

Modes- quarterly, half-yearly, monthly, and annually

No maximum limit

Quarterly- Rs. 30,000 

Half-yearly- Rs. 24,000 

Monthly- Rs. 36,000 

Yearly- Rs. 18,000

People also read: NPS Calculator

FAQ's

  • Q1. How to check the Aditya Birla pension plan status?

    A1: The policyholder of this pension plan can easily check the status of their policy. They simply need to log into the online portal using their password and client ID.
  • Q2. What is the policy number/client ID?

    A2: The client ID required for login is the 9-digit policy number. This is unique for every customer and is issued when they purchase the policy. It can be found on the right side of the receipt of the first premium.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Aditya Birla Pension Plan Calculator Reviews & Ratings

4.2 / 5 (Based on 25 Reviews)
(Showing Newest 10 reviews)
Vijay
Mohali, September 27, 2016
Future Savings Plan
I have purchased birla sun life pension insurance plan. Service is fabulous from all the other insurers. Premium is less and payed thrice annually. Claims are the best part which are cleared by the staff and executives. Renewal and updates are easy to get through websites of the company.
Rijul
Gautam_buddha_nagar, August 19, 2016
Retirement policy
Birla sun retirement insurance plan i have bought which come's in low investment. Service is fast and on time. The full coverage provided by the company in this plan. Claims are good which cleared simple process. Updates are mailed regularly on my mail id.
Mankaran
Junagadh, July 18, 2016
Trustable Policy
My pension plan is very good policy which i buy from birla sun life. Policy coverage is approx. 91% and the premiums are less. Claiming system is nice which facilitate the claiming amount very fast. The future is secure with the policy and the tension is released.
Birju
Budharaja, July 05, 2016
Pension Policy
Pension plan i buy in low premiums and it has great service provided by company. Hassle free paperwork and the online portal service is simple and easy to use. Policy coverage is high ~89% and the claims are good. Claiming is easy to cleared by the help of staff members and there good service.
Hitesh
Ahmedabad, June 28, 2016
Good Plan
The future of mine and my lady is secure because we have pension plans. The investment is low and the payback returns are high. Service facilitate is very good and quick. Behaviour of the staff of the company is very calm and nice. Internet service is also fine, easy to access. Good pension plan.
Shahid
Chittoor, March 31, 2016
Full Satisfactory
I have birla sun life insurance pension policy plan which has low premiums and payed thrice time per year. Policy coverage is 89% and claims are high and the payback amount is around Rs.37 K per month. Service is very good and fast. The policy is nice investment for future and it is good tax saver too. Nice plan, I like it.
Lakshay
Bengaluru, March 31, 2016
Nice Pension Plan
Birla sun life insurance pension policy plan is introduce by an agent of policybazaar and i took the policy plan. Policy coverage is good 79% as i expected. Service is fast and always on time. Claims are also easily sanction. Good future investment and tax saver too.
Rishabh
Udyapur, March 31, 2016
Wonderful
My pension policy plan is with birla sun life insurance. The policy has good coverage approx. 94% with low premium. Claims are also high and the returns is Rs.29 K per month after policy end. Service is fantastic and the executives do best work. Good investment for future and taxes are also reduced.
Ali
Delhi, March 31, 2016
Bad Policy
I buy pension plan from birla sun life insurance but the policy is not that good as i expected. Service is very slow and claim are take long time to sanctioned. Even policy coverage is less ~44 %. Bad experience. The web services are also slow.
Sandeep
Howrah, March 31, 2016
Damn Good
I have a pension policy plan from birla sun life insurance. The policy is great with high returns and low premiums. Policy coverage is also good and service is fast and always on time. Really good job guys, you provide best pension plans. Even the behaviour of the executives and staff members are very nice. I like the policy very much.
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