BSLI Immediate Income Plan

When you retire, your regular source of income stops, your expenses don’t. With increasing life expectancy and rising medical costs, the need to have an alternate income after retirement has become very important.

On retiring you would receive a lump sum amount from your employers like the Employee Provident Fund or other forms of savings that you have been doing. You require a financial planning tool that can allow you to club your other savings and these lump sum payouts which you can convert into a regular income plan.

Presenting the BSLI Immediate Income Plan that puts your savings into an annuity to give you a regular income in your retirement years.

BSLI Immediate Income Plan is a traditional, non-participating, single premium annuity plan with return of purchase price.

How does the Plan Work

Step 1: Decide the amount of premium (lump sum amount) you want to pay to purchase the annuity depending on the amount of regular income you wish to receive. This annuity payment is guaranteed for life and depends on the annuity rates prevailing at the time of the purchase of the annuity

Step 2: Choose your annuity payout options from monthly, quarterly, semi annual or annual modes.

Step 3: Choose how would like to receive your annuity from either post dated cheques or through direct credit to your bank account.

This plan is meant for you, if


1. Your age is at least 50 years and a maximum of 90 years
2. You are able to purchase the annuity such that you can get a regular income of Rs.1,000, Rs.3,000, Rs.6,000 or Rs.12,000 for monthly, quarterly, semi-annual and annual mode of annuity payment respectively. There is no maximum limit on the purchase price


Birla Sunlife Immediate Income Plan


1. Birla Sunlife Immediate Income plan gives you a guaranteed income over your
entire life
2. In case of unfortunate death of annuitant, 100% of the annuity purchase price
(i.e. single premium) will be paid to the nominee
3. This plan offers convenient annuity payout options - monthly, quarterly,
semi-annually and annually from date of purchase
4. You do not have to go through any medical tests to purchase this plan
5. You will be eligible for tax benefits under Section 80CCC of the Income Tax
Act, 1961