When we responded to the above-mentioned text message, the salesperson (from a leading aggregator) said the plan was Birla SunLife Insurance's Vision.
This product isn't a pension plan according to the company's website. It is a guaranteed traditional investment plan.
The salesperson assured the product will give a monthly pension of Rs 50000 and a guarantee of Rs 1 crore.
According to the salesperson's pitch, the product will give an annualised return of 25 per cent (for a 45-year-old) and 12 per cent (for a 35-year-old).
However, according to financial planners, this projection is too good to be true in the case of an insurance product.
Text: Neha Pandey Deoras, Business Standard