BT Lifetime Flexible Pension

Information verified correct on October 1st, 2016

What is BT Lifetime Flexible Pension?

Getting a life insurance policy is a good investment to make. It can be a rewarding endeavor especially when you are confronted with situations in which you need to augment your income after retiring from work. Even though a certain amount of this investment is taken out from your monthly income, it forms part of your pension or other type of earnings which you can benefit from later on. While you are able to work, you need to invest your money wisely to save for your future. BT lifetime flexible pension is an insurance package from BT financial group that offers lifetime flexible pension as investment option.

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Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
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Reasons to consider life insurance

If you are anticipating retiring in the future with no other source of income, or you may want to have additional source of income to help you with your financial needs after your retirement, a pension and life insurance policy are good investment options. In case of unforeseen eventualities, you can get financial support from your life insurance proceeds or from your monthly or annual pension. Insurance companies provide you a better investment for paying monthly premiums that are taken from your monthly salary, the amount of which is based according to your life insurance plan. The amount accumulates as your savings which you can use later on as a pension once you retire or can be converted as life insurance proceeds in case of your death or accident. This is one good way of securing your family’s financial needs in the event that you can no longer provide for them.

A life insurance policy is another means of attaining your financial goals. Insurance policy holders are enjoying the benefits of receiving a pension taken from their savings and investment through their life insurance after their retirement. Think about getting the peace of mind of receiving monthly financial support even when you are no longer employed. Saving a portion of your earnings to pay for your life insurance now will give you a return on your investment upon retirement when you are no longer capable of earning a regular income from your employment in the future. This is a good way of attaining your financial goal for your family’s future. With BT lifetime flexible pension you can be assured of getting this financial security for you and your family.

The Benefits of Conversion

The benefits of converting your superannuation savings into a BT Lifetime Flexible Pension Plan become clear in the way it can help you grow and preserve the capital you have accumulated through your superannuation fund for your retirement years. It does this through:

  • Flexible payments. You will be able to select your own payments structure as long as it complies with the minimum amount as laid down by government regulations. You can also make lump sum withdrawals whenever you need to do so.
  • Wide ranging choice of investment options. You will be free to make your own investment choices from various BT fund managers as well as many others.
  • Tax effectiveness. If you are under 60 years of age your will be entitled to receive concessional taxation benefits. If you are over 60 years of age all payments including lump sum payments are completely tax free. Your investment earnings are also tax free.

Exclusive Offers

BT benefits don't stop at making it easy for you to profitably invest and then receive taxation relief for doing so, you can also take advantage of the following deals:

  • Gifts from some of the top shopping malls.
  • Adventure and leisure experiences.
  • Health insurance.
  • Travel insurance.
  • Travel packages which include car hire and accommodation.
  • Westpac financial products.

An Account Based Pension Plan

If you have been looking for an account based pension plan then the BT Lifetime Flexible Pension Plan will be what you have been seeking. It provides investors with a tax effective and flexible retirement solution. It is a retirement product that can provide you with a regular income right through to your ultimate death or until your account becomes exhausted. It also does the following:

  • Your investment options are automatically rebalanced to your nominated investment profile.
  • You can switch between investment options at any time as you wish and you will never incur a fee for doing so.
  • Choose between 17 fund managers to investment with.
  • Roll over your current superannuation fund into your BT Lifetime Flexible Pension Plan.
  • Have access to your funds any time you have the need to do so.

A Pension Plan Best Suited to Those Who Can Access Their Superannuation

BT lifetime Flexible Pension is most suitable for people who can access their superannuation. This means people who have retired. If you have retired and feel the need to turn your superannuation benefits into a regular income stream that is both flexible and tax effective, but also offers an ongoing selection of investment options, then this is the plan you have been looking for.

The plan is part of the BT Lifetime Super Fund which is a regulated fund under the meaning of the Superannuation Industry (Supervision) Act 1993. Its trustee is a member of BT Financial Group. A company that has been assisting Australian make and manage wealth since 1969. It is the wealth management arm of Westpac who have been delivering financial services to Australian consumers since 1817.

You can find several kinds of life insurance options with different premiums, features and benefits. Most of the time though insurance companies offer a fixed life insurance plan for their policy holders. Because there is no standard insurance plan that will suit all persons, it is important for you to look for more options with your life insurance plan. Likewise, you also need to evaluate your capacity to pay for premiums as well. You need to look for insurance packages that give you more alternatives and options that will meet your capacity to pay for your life insurance premium. BT finance offers you good choices for making an investment. It has flexible plans available for their policy holders. With wider investment options of seventeen managed accounts, policy holders can carefully select the best insurance package that will suit their needs and priorities.

Getting a comprehensive report and reliable account management of your life insurance is also important as a policy holder. Because you are investing your own money, you should be entitled to have access to monitor how your investment is doing. Not all insurance companies offer the privilege to their policy holders to monitor their account. With BT finance, pension holders and life insurance policy holders can track down the movement of their investment. Using a secure online system and login details provided for them, they can access detailed information about their account. An updated and detailed report is posted on the policy holder’s account thereby giving them the peace of mind of reviewing their life insurance investment. Moreover, you can benefit from the 24-hour telephone customer service which can help you monitor and manage your account.

What Makes BT Lifetime Flexible Pension a Good Investment

Whenever you invest in a life insurance policy, you need to know the benefits and advantages you can get from it. BT finance offers their lifetime flexible pension policy which gives you the freedom to determine the most suitable plan that meets your needs. Their life insurance packages give you more freedom to balance your ability to pay for the premiums and the benefits you can avail from your chosen life insurance plan. In an uncertain future ahead of you, your life insurance can be a life saver. Even long before your retirement you can determine the amount of claim you will find sufficient for your future needs. With flexible options, you can exercise your own prerogatives of selecting the best option for you and your family needs. Moreover, once you convert your superannuation savings to BT lifetime flexible pension, you can accumulate earnings that are tax free. This is the best way of growing your retirement capital from your savings. BT has registered financial advisers who can help you understand your tax benefits from this scheme.

Why You Need Flexible Insurance Plan as Option

Not all life insurance companies offer flexible options to their clients. BT Finance understands that every person has their own individual and unique needs. Although their life insurance provides flexible options through its seventeen managed funds, they give their clients more leeway to decide for themselves which pension package is most suited for their needs. This allows you to have extensive options from a life insurance package in consideration to your needs and risk profile. You can therefore exercise wise investment decisions in terms of your profit and the potential threat of making the investment as well. If you are unsure how to analyse your options, there are BT finance advisers who can extend their assistance of giving you sound judgment for making an informed decision on which life insurance will best benefit you.

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