A 6- in-1 health insurance plan that offers:
# Life Cover
# Hospital Cash benefit
# Surgical benefit
# Post Hospitalisation Benefit
# Critical Illness Cover
# Accidental Permanent Total / Partial Disability (APT/PD) along with a cash less card facility makes it an excellent product as the benefits under this plan can be taken in addition to any other health insurance plan.
Health Care BAJAJ
New Risk Care BAJAJ
Term Assurance plan with Regular/Single Premium payment options to secure your life.
# Life insurance cover at the lowest posible cost.
# Additional Rider Benefits with regular premium plan.
# Accidental Death Benefit and Accidental Permanent Total/Partial Disability Benefit.
# Critical Illness Benefit and Hospital Cash Benefit.
You have given your family the very best and there is no resaon why they should not get the very best in future. With HDFC Unit Linked Endowment you can ensure that your family remains financially independent , even if you are not around.
Use HDFC Standard Life's excellent investment options to maximise your savings and secure your and your family's future.
Features
The HDFC UNIT LINKED ENDOWMENT gives you:
An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments.
Valuable protection to your family in case you are not around.
Flexible benefit combinations and payment options.
Additional benefit options such as critical illness cover.
Access to your accumulated fund before maturity.
You can choose your premium and the investment fund or funds. HDFC Standard Life will then, invest your premium, net of premium allocation charges, in your chosen funds in the proportion you specify.
Benefits
The HDFC UNIT LINKED ENDOWMENT benefits you in the following ways:
In the event of policyholder's unfortunate demise before the end of the policy term, HDFC Standard Life will pay the greater of the Sum Assured (less any withdrawals made during the two-year period immediately preceding the intimation of death) and the total fund value to policyholder's family. The policy will terminate thereafter.
On the chosen maturity date, the policyholder will get the fund value and the policy terminates. However, you also have the option to take your fund in periodical installments over the period, which may extend up to 5 years. This is called "Settlement Option". At the end of this 5-year period, you will be redeemed the balance units at then prevailing unit price. Your policy will terminate the moment the balance of your units in all the funds reaches zero.
These insurance products are underwritten by HDFC Standard Life. The name of the company 'HDFC Standard Life Insurance Co. Ltd.' & plan 'HDFC Unit Linked Endowment Form no. P501-28/B UIN 101L015V02' do not, in any way, indicate the quality of the plan, its future prospects or returns. All Unit Linked Life Insurance Plans are different from traditional insurance plans & are subject to different risk factors. In HDFC Unit Linked Endowment the investment risk in your chosen investment portfolio is borne by you. Please acquaint yourself with the associated risks and the applicable charges from our Relationship Manager/Product Brochure/Policy Document of the insurer.For more details on the risks factors, terms & conditions please read the sales brochure carefully before concluding a sale. Registration No: 101.Certified Corporate Agent's License No. 933982.
Insurance is the subject matter of the solicitation.
You have given your family the very best and there is no resaon why they should not get the very best in future. With HDFC Unit Linked Endowment you can ensure that your family remains financially independent , even if you are not around.
Use HDFC Standard Life's excellent investment options to maximise your savings and secure your and your family's future.
Features
The HDFC UNIT LINKED ENDOWMENT gives you:
An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments.
Valuable protection to your family in case you are not around.
Flexible benefit combinations and payment options.
Additional benefit options such as critical illness cover.
Access to your accumulated fund before maturity.
You can choose your premium and the investment fund or funds. HDFC Standard Life will then, invest your premium, net of premium allocation charges, in your chosen funds in the proportion you specify.
Benefits
The HDFC UNIT LINKED ENDOWMENT benefits you in the following ways:
In the event of policyholder's unfortunate demise before the end of the policy term, HDFC Standard Life will pay the greater of the Sum Assured (less any withdrawals made during the two-year period immediately preceding the intimation of death) and the total fund value to policyholder's family. The policy will terminate thereafter.
On the chosen maturity date, the policyholder will get the fund value and the policy terminates. However, you also have the option to take your fund in periodical installments over the period, which may extend up to 5 years. This is called "Settlement Option". At the end of this 5-year period, you will be redeemed the balance units at then prevailing unit price. Your policy will terminate the moment the balance of your units in all the funds reaches zero.
These insurance products are underwritten by HDFC Standard Life. The name of the company 'HDFC Standard Life Insurance Co. Ltd.' & plan 'HDFC Unit Linked Endowment Form no. P501-28/B UIN 101L015V02' do not, in any way, indicate the quality of the plan, its future prospects or returns. All Unit Linked Life Insurance Plans are different from traditional insurance plans & are subject to different risk factors. In HDFC Unit Linked Endowment the investment risk in your chosen investment portfolio is borne by you. Please acquaint yourself with the associated risks and the applicable charges from our Relationship Manager/Product Brochure/Policy Document of the insurer.For more details on the risks factors, terms & conditions please read the sales brochure carefully before concluding a sale. Registration No: 101.Certified Corporate Agent's License No. 933982.
Insurance is the subject matter of the solicitation.
The HDFC UNIT LINKED PENSION
The HDFC UNIT LINKED PENSION is an insurance policy that is designed to provide a retirement income for life with the freedom to maximise your investment returns. Stride into your golden years of retirement with dignity and pride.
Use HDFC Standard Life's excellent investment options to maximise your savings and secure income after retirement. Don't compromise on self-respect, ever. Go ahead, hold your head high and enjoy life with HDFC Unit Linked Pension.
Features
The HDFC UNIT LINKED PENSION gives you:
An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments.
Provides a post retirement income for life.
Flexibility to plan your retirement date.
Freedom to invest premiums as per your preference.
You can choose your premium and the investment fund or funds. HDFC Standard Life will then, invest your premium, net of premium allocation charges, in your chosen funds in the proportion you specify.
Benefits
The HDFC UNIT LINKED PENSION benefits you in the following ways:
In the event of policyholder's unfortunate demise before the end of the policy term, HDFC Standard Life will pay the unitized fund value to the nominee.
On the chosen vesting date, the policyholder will get the accumulated value of funds, which will be used to provide pension income. You can
* Take 1/3rd of the fund value as tax-free cash lump sum and purchase annuity with the balance amount.
* Purchase annuity from HDFC Standard Life or any other insurer.
These insurance products are underwritten by HDFC Standard Life. The name of the company 'HDFC Standard Life Insurance Co. Ltd.' & plan 'HDFC Unit Linked Pension Form no. P501-18 & 34/B, UIN 101L016V02' do not, in any way, indicate the quality of the plan, its future prospects or returns. All Unit Linked Life Insurance Plans are different from traditional insurance plans & are subject to different risk factors. In HDFC Unit Linked Pension the investment risk in your chosen investment portfolio is borne by you. Kindly acquaint yourself with the associated risks and the applicable charges from our Relationship Manager/Product Brochure/Policy Document of the insurer.For more details on the risks factors, terms & conditions please read the sales brochure carefully before concluding a sale. Registration no 101.Certified Corporate Agent's License No. 933982.
Insurance is the subject matter of the solicitation.
HDFC UNIT LINKED YOUNG STAR
Plan today to ensure a bright future for your child. Start saving today with HDFC UNIT LINKED YOUNG STAR, so that your child is able to lead a life of respect and dignity with a secured financial future.
Use HDFC Standard Life's excellent investment options to maximise your savings and maximise your child's achievements. We will provide security for your child and make those savings on your behalf, in your absence.
Features
The HDFC UNIT LINKED YOUNG STAR gives you:
An outstanding investment opportunity by providing a choice of thoroughly researched and selected investments.
Valuable protection in case of the insured parent's unfortunate demise.
Flexible benefit combinations and payment options.
Flexible additional benefit options such as critical illness cover.
You can choose your premium and the investment fund or funds. HDFC Standard Life will invest your premium, net of charges, in your chosen funds in the proportion you specify.
Benefits
The HDFC UNIT LINKED YOUNG STAR gives you DOUBLE BENEFIT:
In case of unfortunate demise of the parent during the policy term, HDFC Standard Life will:
* Pay the Sum Assured you had chosen to your child.
* Continue the policy AND continue to pay the original premiums you had chosen
At the time of maturity, your child will receive the accumulated value of your funds.
These Insurance plans are underwritten by HDFC Standard Life. The name of the company 'HDFC Standard Life Insurance Co. Ltd.' & plan 'HDFC Unit Linked Young Star Form no. P501-29/B.UIN 101L019V02' do not, in any way, indicate the quality of the plan, its future prospects or returns. All Unit Linked Life Insurance Plans are different from traditional insurance plans & are subject to different risk factors. In HDFC Unit Linked Young Star, the investment risk in your chosen investment portfolio is borne by you. Kindly acquaint yourself with the associated risks and the applicable charges from our Relationship Manager/Product Brochure/Policy Document of the insurer.For more details on the risks factors, terms & conditions please read the sales brochure carefully before concluding a sale. Registration no: 101.Certified Corporate Agent's License No. 933982.
Insurance is the subject matter of the solicitation.
Tata AIG Life
Tata AIG Life Insurance Company Ltd. "Tata AIG Life" offers a broad array of life insurance products to individuals, associations and businesses of all sizes, with a wide variety of additional coverage to ensure our customers can find an insurance product to meet their needs.
Tata AIG Life is a joint venture of the Tata Group and American International Group, Inc. (AIG).
LifeShield of aviva
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Bond Fund of aviva
To generate a steady income through investment in high quality fixed income securities. The fund comprises of 100% debt and money market and no equities.
Why HealthAssure Plus
Illnesses have a way of sneaking up on us, weakening our financial stability and stealing our family's peace of mind. It is best to keep oneself insured at all times against the most critical illnesses that are also the most common: Cancer, Coronary Artery Bypass Graft or Surgery, Heart Attack, Kidney Failure, Major Organ Transplant, and Stroke.
ICICI Prudential's HealthAssure Plus financially insures you against these six critical illnesses. Should you ever be diagnosed with one or more of these, HealthAssure Plus provides you with a fixed sum, irrespective of your actual medical expenses. The health plan thus shoulders the heavy costs of your treatment and ensures you stay financially stable, come what may.
This financial guarantee during illness is not all that HealthAssure Plus delivers. HealthAssure Plus comes with an added benefit: it insures your life, as well. So should an unexpected accident or disability claim your life, your family will receive the entire Sum Assured-an amount large enough to ensure they live securely, even in your absence.
Read more about the features and benefits of HeathAssure Plus.
HealthAssure Plus: UIN 105N051V01
Premium Guarantee Plans
The latest addition to the life insurance product portfolio of ICICI Prudential is the Premium Guarantee plan - InvestShield Life New. Premium Guarantee plans are the ideal insurance-cum-investment option for customers who want to enjoy the potentially higher returns of a market linked instrument, but without taking any market risk.
Under the Premium Guarantee Plans platform, ICICI Prudential brings to you the following products:
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Wealth Creation Plans
Wealth Creation Plans give the customer the dual benefit of protection along with the potentially higher returns of market-linked instruments. The most important benefit of ULIPs is the flexibility they give the customer in choosing the premium amount and also choosing the underlying fund in which this money is to be invested. Wealth creation plans also offer the customer more liquidity options as compared to traditional plans. As such, ULIPs are ideal for customers who want the protection of a life cover to be allied to the returns of market linked instrument – giving them an unmatched combination of benefits.
Under the wealth creation platform, ICICI Prudential brings the following products to you. Please click on the product name to know more about the plans.
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Education Insurance Plans
One of your most important responsibilities as a parent is to ensure that your child gets the best possible education that can be provided.
ICICI Prudential offers a wide portfolio of education insurance plans that are designed to provide peace of mind to you, as a parent, that your child's education will be secure. These plans ensure that money is made available at the crucial junctures in a child's education - Class X, Class XII, graduation and post-graduation - to fund crucial commitments for the child's future.
Importantly, education insurance plans ensure that in the unfortunate event of the death of a parent, the child's education continues unhampered.
Under the education insurance plans platform, ICICI Prudential brings the following products to you. Please click on the product name to know more about the plans.
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Regular Premium Single Premium
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Flexi Life Line Plan
Highlights
Lifelong insurance cover till 100 years of age
Guaranteed returns of 3% p.a net of policy charges
Choice of 3 investment fund options.
Option for tax free partial withdrawals
LIFE INSURANCE: THE KEY TO A SECURED FUTURE
Every Sunrise marks a new beginning. Every dawn brings with it a new hope, new joys, new promises. And every ray of light illuminates the path ahead.
Much like Birla Sun Life Insurance. Where every product is designed with the promise of peace of mind for you and your family. Not to mention a radiant future as well. In keeping with this, we offer customized life insurance plans and solutions to turn your dreams into reality. And to give you and your loved ones all the protection they need for a lifetime. Thanks to our Unit linked plans that offer a blend of life insurance and investment to give you most out of life.
Come discover the joy of having the Flexi Life Line by your side.
BIRLA SUN LIFE INSURANCE COMPANY LIMITED
A COMING TOGETHER OF VISIONS
Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a leading international financial services organisation. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable protection for your future.
The Aditya Birla Group has a turnover close to Rs. 33000 crores with a market capitalisation of Rs. 53400 crores (as on 31st March 2006). It has over 72000 employees across all its units worldwide. It is led by its Chairman - Mr. Kumar Mangalam Birla. Some of the key organisations within the group are Hindalco, Grasim, Aditya Birla Nuvo, etc.
Sun Life Financial Inc. and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Sun Life Financial Inc. had assets under management of over US$343 billion, as on 31st March 2006. Sun Life Financial Inc. is a leading player in the life insurance market in Canada.
Birla Sun Life Insurance (BSLI) in its 5 successful years of operations has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than a million lives since inception and its customer base is spread across more than 1000 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company has a capital base of 520 crores as on 31st July, 2006.
UNIT-LINKED LIFE INSURANCE SOLUTIONS: THE BEST OF BOTH WORLDS
Birla Sun Life Insurance was the first Private Life Insurer in India to introduce Unit-Linked life insurance plans. A Unit-Linked plan is an auspicious coming together of security from life insurance and earnings from investments. Which means, apart from securing your future, they offer efficient returns. What's more, they're transparent, flexible and simple to understand.
FLEXI LIFE LINE
With insurance cover till the age of 100 years*, this plan is designed to provide you a lifetime of security. While its compounding factor keeps adding on to your Investment Fund, the flexibility allows you to withdraw money from the Investment Fund whenever you require it in your lifetime. Tax-free ** by nature, it can also be used as a tax efficient pension plan.
Unique Features
The plan is a unit linked non-participating plan which gives you efficient earnings in the long term.#
Lifelong Insurance cover till age 100 years^ in addition to other durations available.
A choice of three Investment Fund Options: Protector, Builder and Enhancer, with the freedom to switch between the Investment Fund Options anytime during the policy tenure. $
Flexibility to make additional lump sum investments (top ups) to increase the savings portion of your policy.
Minimum Guaranteed returns of 3% p.a. on your premium and any top up amounts, net of all Policy Charges. More importantly the entire upside in the performance of the Investment Fund is passed on to you.@
Options to make tax free Partial Withdrawal**from your Fund Value anytime after three years.
Surrender the policy without penalty any time after 4 policy years. @
Increase the Sum Assured during the premium-paying period depending on your life insurance requirements.
Convenient premium payment options: Short or Regular paying period.
The Plan
FLEXI LIFE LINE PLAN
Minimum Entry Age 30 days
Maximum Entry Age 65 years, 59 years for 10 pay.
Minimum Sum Assured
Rs. 5,00,000 for 10 yrs Premium Paying Period for all ages
Rs. 3,00,000 for 15, 20, 25 yrs and Regular Premium Paying Period for minors.
Rs. 2,00,000 for 15, 20, 25 yrs and Regular Premium Paying Period for majors.
Maximum Maturity Age
70 years for minors for all pay options
70 years for all ages for 10 pay option.
100 years for majors for 15,20,25 or regular pay.
Premium Paying Period 10, 15, 20, 25 years or Regular Premium Paying Period
Premium Payment Frequency
Annually, Semi-annually, Quarterly (for annual premium more than Rs. 20,000 only), Monthly(through ECS only) .
Premium Payment Mode
Cash (upto Rs. 20000), Cheque, Credit Card, Salary Deduction, ECS, Direct debit
Top up Premium
You can top up$ the fund whenever you have additional savings during the tenure of the policy. The minimum amount of top ups will be Rs. 5,000. The maximum amount of top up in any policy year will be Rs. 50,000 or the Annual Premium whichever is higher.
The Sum Assured in the plan will increase if the cumulative top up amount exceeds 25% of the Annual premium paid till date. The additional Sum Assured will be 125% of the excess top up premium and is subject to the administrative and underwriting rules of the company.
Guaranteed Returns/
Guaranteed Funds
A minimum guaranteed return of 3% p.a. applies on premiums and top-up premium, net of policy charges and survival benefits. This total will constitute the Guaranteed Fund Value. The guaranteed returns are applicable in case of all exits.
Maturity Benefits
The higher of the ‘Fund Value’ or the ‘Guaranteed Fund Value’ (based on 3% net returns)
Amount due to nominee in event of death of the life insured
Higher of ‘Fund value’ or ‘Guaranteed Fund’ or ‘Sum Assured’ less all applicable Partial Withdrawals in the 24 months preceding the death of the life insured.
In case of death at the age of 60 yrs or above then the Sum assured will be reduced by the applicable Partial Withdrawals made since the life insured attained the age of 58 yrs.
Where the policy is bought on or prior to the 1st birthday of the life insured, higher of the Fund Value or the Guaranteed Fund Value is payable to the policy owner in the event of death of life insured within the first policy year.
Partial Withdrawals
In a year two Partial Withdrawals are free of charge.
Partial Withdrawals are allowed after three policy years or on attaining the age of 18 years (in case of minors) whichever is later.
The Partial Withdrawal is subject to the condition that the minimum Fund Value after the Partial Withdrawal is equal to the 'Guaranteed Fund' or 'One Annual Policy Premium plus Surrender Charges' applicable in that year, whichever is higher.
Surrender Benefits
The policy can be surrendered any time during the tenure of the policy. The surrender charges will be zero after the 4th policy year. In case of surrender in the first 3 policy years the benefits will be paid out only after the 3rd policy year
Free Look Period
You will have the right to return your policy to us within 15 days from the date of receipt of the policy. We will pay the Fund Value plus all charges levied till date (excluding the Fund Management Charge) once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents.
Tax Benefits Under Section 80C and 10 (10D) of the Income Tax Act, 1961 **
^ For adults
$ In a year, two switches between Investment Fund Options are free. For every additional switch, a charge of Rs. 100 will be levied
# Please refer Risk Factors given below
@ Conditions Apply ** As per the current tax legislation.
$ Any top up premium made during the period of the contract cannot be withdrawn for three years from the date of payment of that top up premium. Only amount paid in excess of the Annual premium in any policy year only will be considered as a top up amount.
Increase Your Plan Sum Assured
Depending on your changing needs for life insurance during your lifetime, you have the option of increasing the Life Insurance cover under your policy once in every five Policy Years. The minimum amount of increase in Sum Assured will be Rs. 50,000 and will be subject to Underwriting and other rules of BSLI prevailing at the time of increase.
Keep Track of your Fund Value
BSLI will send you an annual policy statement giving details on the number of the units and the NAV of the units, held by you under the various Investment Funds as of the last policy anniversary. The NAV of the various Investment Funds will be available on our website www.birlasunlife.com, as well as in the newspapers.
Electronic Clearing Service (ECS)
The ECS is a convenient and hassle-free method of paying your premiums through an electronic debit to your bank account
Riders
You can further customise your Birla Sun Life Insurance Plan by adding riders to the base plan at a marginal extra cost.
Accidental death and Dismemberment Benefit Rider:
It provides 100% of coverage in case of death due to accident; loss of more than one limb or sight in both the eyes or in case of loss of one limb and loss of sight in one eye; 50% coverage in case of loss of one limb or sight in one eye.
...Know more
Term Rider:
It provides additional amount of cover in the event of death of the life insured. ...Know more
Critical Illness Rider:
It provides a cover in the event of life insured being diagnosed as suffering from any of four illnesses specified under the Critical Illness Rider. ...Know more
Critical Illness Plus Rider:
It provides a cover in the event of life insured being diagnosed as suffering from any of the seventeen illnesses specified under the Critical Illness Plus Rider. ...Know more
Critical Illnesses Woman Rider:
It provides a cover against several critical illness including woman specific illnesses. Pregnancy complications and congenital anomalies in a new born child. ...Know more
Waiver of Premium:
This rider waives payment of future premiums on the happening of any of the unforeseen events as covered under this rider. ...Know more
For further details please refer to detailed brochure on riders
Please note that the riders are not available if you are an NRI investor.
Investment Fund Particulars
You can choose from 3 Investment Fund Options to match your risk profile and help you earn efficient returns on your Investment Funds.
The Portfolio and the risk profile of the different Investment Funds are given below:
Investment Fund Option Risk Profile Asset Allocation * Min. Max.
Protector Low Debt Instruments, Money Market & Cash 90% 100%
Equities & Equity Related Securities 0% 10%
Builder Low Debt Instruments, Money Market & Cash 80% 90%
Equities & Equity Related Securities 10% 20%
Enhancer Medium Debt Instruments, Money Market & Cash 65% 80%
Equities & Equity Related Securities 20% 35%
* In each Investment Fund Option, the Money Market & Cash asset allocation will not exceed 40%.
The Investment Funds have a varying amount of debt and equity. You can select the Investment Funds based on your risk preference and switch between them based on your needs.
Protector
Objective: The objective of the Investment Fund Option is to generate consistent returns through active management of fixed income portfolio and focus on creating long-term equity portfolio, which will enhance yield of composite portfolio with minimum risk appetite.
Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% at low level of risk. This product is suitable for those who want to preserve their capital and earn steady return on investment through higher exposure to debt securities.
Builder
Objective: This Investment Fund Option helps build your capital and generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt.
Strategy: Generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.
Enhancer
Objective: This Investment Fund Option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities.
Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.
Policy Charges
The Premium Allocation Charge* is an up-front charge and varies as per the premium payment term and the Policy Year as given below:
Pay period
Policy Year 10-14 pay 15-pay+
1 54.6% 65%
2 7.5% 7.5%
3 7.5% 7.5%
4+ 5.0% 5.0%
*As a percentage of premium
The Premium Allocation Charge for top ups and on Underwriting Extra (if any) will be 2.0 percent. There is no Premium Allocation Charge on Rider Coverage Premium.
The Premium Allocation Charge is guaranteed for the duration of the contract.
Charges
1) Mortality Charges for the Life Insurance Coverage will be deducted by cancellation of units at the prevailing NAV on a monthly basis. The annual mortality charges per thousand Sum At Risk for sample ages are as follows:
Sex / Age(Yrs) 20 30 40 50 60
Female 0.896 1.163 1.657 4.030 10.660
Male 1.016 1.171 2.150 5.532 13.732
The Mortality Charges are guaranteed for the entire period of the contract.
2) A Fund Management Charge not exceeding 1.5% p.a. of the Fund Value will be charged by adjustment of daily NAVs. Currently this charge is 1% p.a. for Protector, Builder and Enhancer.
3) A Policy Administration Charge will be recovered by cancelling units on a monthly basis at the prevailing NAV. The annual Policy Administration Charge per 1000 of the Life Insurance Coverage Sum Assured is given in the table below:
Policy Administration Charge
Life Insurance Coverage Sum Assured
Policy Year For First Rs.1,00,000
On Amount in excess of Rs.1,00,000
1 5.52 2.88
2 17.88 15.24
3 + 5.52 2.88
This annual charge cannot exceed Rs. 20 per thousand of the Life Insurance Coverage Sum Assured:
For example, Suppose you had chosen a Sum Assured of Rs 10,00,000. In this case the total Policy Administration Charge in Year 1 is 5.52 * 100 + 2.88 * (1000 – 100) = 3144 and the amount Rs 3144/12 = 262 will be collected on every monthly processing date by cancellation of units during the first Policy Year.
4) A Rider Premium Charge will be recovered monthly by cancellation of Units. The Rider Premium Charge will be the equivalent monthly Rider Coverage Premium payable when the Rider Coverage Payment Period equals the Rider Coverage Benefit Period. Rider Coverage Premiums may be subject to market risks.
Fund Switching Charges
1. In a year, two switches between Investment Fund Options are free.
2. For every additional switch, a charge of Rs.100 will be levied.
Partial Withdrawal Charges
* In a year two Partial Withdrawals are free of charge
*
For every additional Partial Withdrawal, a charge equal to Rs.100 subject to a maximum charge of Rs.500 will be levied.
Surrender Charges
The Surrender Charges are levied in the first four years and varies based on the duration of the Policy. During the first 24 months of the Policy, the charge will be an amount equal to the annualised Life Insurance Coverage Premium payable for this Policy. For the purpose of Surrender Charges only, annualised Life Insurance Coverage Premium is defined, as the amount that is payable if the Coverage Paying Period is equal to the Coverage Benefit Period. In the 25th month, the Surrender Charge is 24 percent of the annualised Life Insurance Coverage Premium. The Surrender Charge per cent reduces by one for every month thereafter. If the Policy is surrendered at any time after the 49th month, the Surrender Charge is zero.
The Surrender Value is calculated after deducting the Surrender Charges from the Fund Value.
Premium Discontinuance
(a) In the first three Policy Years:
To keep the Policy in force, you must contribute, within the grace period of 30 days, the amount of Policy Premiums, which is due but unpaid. At the end of the grace period if the premium is not received, then the Policy will lapse and all Coverage will terminate immediately.
Once the policy lapses it has to be revived within two years from the lapse date, failing which the Surrender Value as at the lapse date will be paid out at the end of the third Policy Year or at the end of the revival period whichever is later. In case the Policy is surrendered during the revival period, then the Surrender Value as at the lapse date will be paid out at the end of the third Policy Year or the date of Surrender whichever is later.. The Surrender Value will be calculated by deducting the Surrender Charges applicable on the lapse date. The Surrender Value will not be affected by the market fluctuations and will remain constant till the time it is paid out. There will be no deduction of the Policy Charges (as set out in the Policy Charges section) thereafter from the Surrender Value. If the life insured dies while the policy is not yet revived, we will pay the Fund Value as of the lapse date immediately and terminate the contract.
(b) After the first three Policy Years:
To continue the Policy, you must contribute, within the grace period of 30 days, the amount of Policy Premium due but unpaid. At the end of the grace period if the premium is not received, you will be given a period of two years to pay all due and unpaid Policy Premiums. During these two years all Coverages will continue to be in force and all applicable charges will continue to be deducted from the Fund Value till the Surrender Value falls to one Annual Policy Premium. At this time the Policy will be terminated and the Surrender Value will be paid out.
At the end of the two year period we will give you an option to continue the Policy. If you do not opt to continue the Policy, the Policy will be terminated and the Surrender Value will be paid out.
If you decide to continue with the Policy, the Company will not accept further Policy Premium under this Policy. All Coverages will continue to be in force and all applicable charges will continue to be deducted till the Surrender Value falls to one Annual Policy Premium. At this time the Policy will be terminated and the Surrender Value will be paid out
Policy Revival
Should your Policy lapse due to non-receipt of premiums within the first three Policy Years; you can request that it be revived within two years from the lapse date. Revival or Reinstatement of the Life Insurance Coverage is subject to the following:
* Evidence of insurability satisfactory to us with respect to the Life Insured (if applicable); and
* Contribution in full of an amount equal to all Policy Premiums due but unpaid till the Effective Date of Revival.
The Effective Date of Revival is the date on which the above requirements are met and approved by the Company. On this date, the Fund Value as on the lapse date will be re-invested in the Investment Fund at the NAV applicable on the Effective Date of Revival. All outstanding Policy Charges, if any, for the period between the lapse date and the Effective Date of Revival shall be deducted from the Fund Value.
We reserve the right to levy a charge subject to our administrative rules then in force to cover the Underwriting costs arising at the time of Revival. The Revival charge currently is Rs 100. This charge cannot exceed Rs. 1000.
In case of non-receipt of premium after the first three Policy Years, you can request that it be continued within two years from the end of grace period after non-receipt of premium by contributing all Policy Premium due but unpaid from the date of premium discontinuance.
Closure of Policy
After first three Policy Years, if the Fund Value falls to one Annual Policy Premium net of Surrender Charges, we will terminate the Policy and pay the Surrender Value to you.
NAVS
The basis used for calculation of NAV would be the appropriation price and expropriation Price.
The Appropriation price shall apply in a situation when the company is required to purchase the assets to allocate the units at the valuation date.
The Expropriation price shall apply in a situation when the company is required to sell assets to redeem the units at the valuation date.
The NAV per unit of each Investment Fund will be calculated as per the prevailing IRDA guidelines mentioned below.
When Appropriation price is applied: The NAV shall be computed as:
(Market Value of Investments held by the fund + The Expenses incurred in Purchase of the Assets + Value of Any Current Assets + Any Accrued Income Net of Fund Management Charges - Value of any Current Liabilities - Provisions, if any)Divided by the number of units existing at valuation date (before any new units are allocated)When Expropriation price is applied: The NAV shall be computed as:(Market Value of Investments held by the fund - The Expenses incurred in Sale of the Assets + Value of Any Current Assets + Any Accrued Income Net of Fund Management Charges - Value of any Current Liabilities - Provisions, if any)Divided by the number of units existing at valuation date (before any new units are allocated)
Terms used
Premium- The amount one has to pay during the premium paying period in order to subscribe to a particular plan for a given level of plan benefit.
Premium Paying period- The period over which you agree to pay the premiums.
Policy Period- the period for which the insurance plan has been taken.
Sum Assured- Is the amount of life insurance cover chosen by you.
Maturity- The time when the insurance plan taken comes to an end for example the maturity for 10 year plan will be at the end of the 10th year.
Age- As per the last birthday.
Top Up the Lump sum investment that you can make to enhance the savings portion of the Policy.
Sum at Risk - is the Sum Assured less the Fund Value.
Suicide
“ If the Life Insured dies by suicide within one year of the issue of the policy or the reinstatement of the Life Insurance Coveragewhichever is later, we will not pay the life insurance cover. In such a case, we will refund the higher of the premiums paid towards the policy since the issue date or the Fund Value on the date of death”.
Section 41 of Insurance Act
No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
Section 45 of Insurance Act
No Policy of Life Insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no Policy of Life Insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which it was effected be called in question by an Insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the Life Insured, or in any other document leading to the issue of the Policy, was inaccurate or false, unless the Insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the Life Insured and that the Life Insured knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.Provided that nothing in this section shall prevent the Insurer from calling for proof of age at any time if he is entitled to do so, and no Policy shall be deemed to be called in question merely because the terms of the Policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the application.
Risk Factors / Disclaimers
This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI).
This is a non-participating Unit-Linked Plan.
Birla Sun Life Insurance, Flexi Life Line, Protector, Builder and Enhancer are only the names of the Company, Policy and the Investment Funds respectively and do not in any way indicate the quality of the Policy, Investment Funds or their future prospects or returns.
The above mentioned charges are applicable to the base coverage only and do not include riders.
The charges mentioned above are applicable to all the three Investment Fund Options offered at present.
All the policy charges (except Premium Allocation Charge and Mortality Charge) can be modified by the company subject to approval of the IRDA.
The value of the Investment Fund reflects the value of the underlying investment. These investments are subject to market risks and change in fundamentals such as tax rates etc effecting the investment portfolio.
The premium paid in Unit Linked Life Insurance policies are subject to investment risk associated with capital markets and the NAV of the units may go up or down based on the performance of Investment Fund and factors influencing the capital market and the insured is responsible for his/her decisions. There is no guarantee or assurance of returns above the guaranteed returns from the Investment Funds.
BSLI reserves the right to recover levies such as the Service Tax levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you.
This brochure contains the salient features of the plan. For further details please refer to the policy contract.
Insurance is the subject matter of the solicitation.
For more details and clarification call your BSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.
Birla Sun Life Term Plan
Highlights
Large life cover at low cost
Ideally suited for covering all your liabilities
Complete security for your loved ones
What is life without dreams and wishes?
Dreams of a life full of cheerful and happy moments. However life has its uncertainties and risks. To take care of these uncertainties, you need to plan ahead. We, at Birla Sun Life Insurance look at life insurance from your needs point of view, creating customised solutions. It is this commitment which enables us to find way to adapt. To change. To adjust. It is this philosophy that has brought the Aditya Birla Group and Sun Life Financial Inc. together to form Birla Sun Life Insurance Company Limited.
What is Birla Sun Life Term Plan about?
The plan has been designed for people who want to avail of the benefits of life insurance at low cost. It is a low premium, pure risk coverage plan which takes care of your financial commitments towards your family or dependants, should anything unfortunate happen to you.
Unique Features
Riders - Accidental Death & Dismemberment Rider, Critical Illness Rider, Waiver Of Premium Riders available along with the plan, you can avail of riders even in the case of Single Premium Policy.
Favourable Term - Favourable Premium Rates for Female Clients.
Age Benefit - Maximum age for maturity is 70 years.
Face Value Rebate - Attractive Rebate for Face Amounts equal to or greater than Rs.5 Lakhs for regular pay and for face amount greater than or equal to 7 Lakhs for single pay.
Free Look Period - Review your decision for 15 days from the date of receipt of the policy document.
The Plan
The plan has been designed for people who want to avail of the benefits of life insurance at a low cost. It is a low premium, pure risk coverage plan which takes care of your financial commitments towards your family or dependants, should anything unfortunate happen to you.
Term Plan
Entry age 18-55 years
Minimum Face Amount (Sum Assured)
Rs.2,50,000 in case of single premium & Rs.2,00,000 in case of regular premium for a person fulfilling the eligibility criteria.
Benefit Period As per policy terms 5,10, 15, 20 or 25 years
Premium Paying Period Single pay or over the duration of the plan.
Premium Payment Frequency
Annually, semi-annually, quarterly,Monthly (through ECS) or one-time payment
Grace Period
Pay your premium within 30 days after the premium due dates
Amount due to nominee in event of death of the life insured Face Amount
Maturity benefit Nil
Riders
Accidental Death and Dismemberment rider and Critical illness rider, Waiver Of Premium riders, but only at the time of purchase of policy.
* Tax Benefits Under Sec 80C and Sec 10 (10D) of the Income Tax Act 1961**
( * As per current tax legislations)
Riders
Riders are the additional benefits that you may buy at a nominal extra cost and add to your policy. The addition of riders helps you to customize the Birla Sun Life Term Plan to match your present and future needs. You may avail of these riders along with your base plan.
Accidental Death and Dismemberment Benefit Rider:
It provides additional amount of cover in case of death due to accident or loss of more than one limb or sight in both the eyes and partial coverage in case of loss of one limb or sight in one eye. ...Know more
Critical Illness Rider:
It provides a cover in the event of life insured being diagnosed as suffering from any of the specified critical illnesses. ... Know more
Waiver of Premium:
This rider waives payment of future premiums on the happening of any of the unforeseen events as covered under this rider. ... Know more
Terms used
Premium - The amount one has to pay during the period in order to subcribe to a particular plan for a given level of plan benefit.
Premium Paying Period : The period over which you agree to pay the premiums.
Benefit Period - The period for which the insurance plan has been taken.
Face Amount - It is the death benefit payable.
Age - As per last birthday.
Disclaimer
As per budget announcements - February 05 of the finance ministry, there are amendments to Section 80 CCC, Section 80 L and Section 88; The amendments will come into effect when the finance bill is approved by parliament. Kindly make note of the same.
Section 41 of Insurance Act : No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate or the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer.
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