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Project Report
On
“BIRLA SUN LIFE INSURANCE”
INDIAN INSTITUTE OF FINANCE
DELHI

Submitted to: Submitted by:


NIMESH KHANDELWAL
4106107107
Nidhi Jain SHUBHENDU
Senior Faculty 41060164164
IIF, DELHI SHUCHI SINGH
41060165165

Certificate
This is to certify that the Project entitled “BIRLA SUN LIFE

INSURANCE” a genuine work done by Nimesh khandelwal,

Shubhendu parhi & Shuchi singh students of Indian Institute of Finance

under my supervision and guidance.

Nidhi Jain
Senior Faculty
IIF

Declaration

This is to certify that the project report titled “BIRLA SUN LIFE

INSURANCE” is carried out by us as a part of the course requirement


for Management of Business Finance Program. This study is submitted

for the approval to the Indian Institute of Finance.

We declare that the form and content of the

above mentioned project are original and have not been submitted in part

or full for any other degree or diploma of this or any other organization

Institute/ University.

Signature :
Name : NIMESH KHANDELWAL
Enroll. No. : 4106107107
Signature :
Name : SHUBHENDU PARHI
Enroll. No. : 4106164164
Signature :
Name : SHUCHI SINGH
Enroll No. : 4106165165

Acknowledgement

At the very outset we have the great pleasure in expressing our deep sense of gratitude
to respected Prof. J.D. Agarwal, Chairman and Mr. Aman Agarwal, Director Indian
Institute of Finance, who gave us the opportunity to carry out this project.
The euphoria and happiness of successfully completing any task is incomplete
without thanking the people who have directly or indirectly helped us in preparation
of this project.

We also have the great pleasure in expressing our vote of thanks to our respected
Madam Nidhi Jain under whose able guidance, encouragement, deep personal
interest and supervision this work has taken its present shape.

PREFACE
Insurance is very important in today’s world as it provides the measure for reducing
the exposure to risk. There are different types of insurance policies and the person can
take them on the basis of their need. Insurance covers you not only when you are alive
but also after your death in the terms of
benefit which accrues to your family members.
The concept of insurance is not the new one. The insurance is prevalent
all over the world from the very beginning either in the form of traditional or the
reciprocal insurance. Mainly insurance have been categorized into two parts 1. Life
Insurance, 2. Genaral Insurance. Life insurance mainly covers the health related issues
and the general insurance covers the other aspects. Insurance helps in pooling the
losses and also leads to the transfer of losses. It makes the person on the same position
as he was before loss. The investment in insurance is also eligible for tax deductions.
Previously, the private players are not allowed in the insurance sector but
in todays competitive world mostly the private players are dominating the insurance
sector and their market share is also increasing day by day. So, insurance is very much
necessary for each and every individual, the earlier you take it better it is for you.

EXECUTIVE SYNOPSIS
The project “BIRLA SUN LIFE INSURANCE ” is the subject matter of discussion.
Project mainly includes the different policy of BSLI.The policies have been divided
into various types 1. Individual policies, 2. Group Policies 3. NRI Policies.

The benefits, how to claim, premium amount, eligbility to apply, Add on covers,
scope of the different policies have been studied in details and incorporated into
project.

Lastly based on the study the conclusion have been drawn about the policy and which
one is the best according to us.

Birla Sun Life Insurance Ltd.


About Birla Sun Life Insurance Company Limited

• Birla Sun Life Insurance pioneered the unique Unit Linked Life Insurance Solutions in
India

• Within 4 years of its launch, BSLI has cemented its position as a leading player in the Private
Life Insurance Industry

• There has been focus on Investment Linked Insurance Products, supported with protection
products to maintain leadership in product innovation.

• Multi Distribution Channels- Direct Sales Force, Alternate Channels and Group offering
convenient channels of purchase to customers.

• Web-enabled IT systems for superior customer services.

• First to have issued policies over the Internet.

• Corporate governance and a high degree of transparency in all business practices and
procedures.

• First to have an operational Business Continuity Plan.

• Strong fundamentals based on the Aditya Birla group's local insight and Sun Life
Financials's global expertise.

Vision
To be a world class provider of financial security to individuals and corporates and to be amongst
the top three private sector life insurance companies in India.

Mission
To be the first preference of our customers by providing innovative, need based life insurance and
retirement solutions to individuals as well as corporates. These solutions will be made available by
well-trained professionals through a multi channel distribution network and superior technology.
Our endeavour will be to provide constant value addition to customers throughout their relationship
with us, within the regulatory framework. We will provide career development opportunities to our
employees and the highest possible returns to our shareholders.

Values

• Integrity

• Commitment

• Passion

• Seamlessness

• Speed
GROUP POLICIES

1. Group Protection Solutions Plan


Birla Sun Life Insurance launches its Group Insurance Business with its Group Term Plan? Birla
Sun Life Group Protection Solutions on 8th October, 2001. Birla Sun Life Insurance announced its
entry into the group insurance business, on 8th October 2001 with the launch of Birla Sun Life
Group Protection Solutions. It is the first of the group products to be launched by Birla Sun Life
Insurance in this business category and provides companies with a new avenue to offer protection to
their employees.

"Birla Sun Life Group Protection Solutions takes insurance to a new market segment. The product
design puts both employers and employees in a win-win situation. I expect an enthusiastic response
from the corporate sector, where we have established strong relationships through our other financial
service ventures? , said Mr. S.K.Mitra, Director, Financial Services for the Aditya Birla Group while
addressing a well attended press conference.

Birla Sun Life Group Protection Solutions gives employers, the option of providing their employees
life insurance cover at a very affordable cost. The plan is available to professional and borrower-
lender groups as well.

Birla Sun Life Group Protection Solutions is a yearly renewable policy. It is a term plan with four
riders: Accidental Death, Accidental Death and Dismemberment, Critical Illness and Term, and
there are two options that can be added, which are the options to cover spouse and the option to
convert to an individual policy.

The plan can be customised to suit the needs of each customer group. The cover could be uniform or
graded according to the categories in the company or as a multiple of the salary.

Some of the unique features of the Birla Sun Life Group Protection Solutions are:

Customisation based on the group's needs.

Wide range of riders and options

A World-class integrated technology platform that helps to provide exhaustive back end operations.

Phased implementation of the customer friendly interactive web enabling and common data
warehousing, which will allow a person to check for any information regarding the insurance that he
has with the company.
"Birla Sun Life Group Protection Solutions is our well planned foray into the corporate
sector. Once implemented, our technology platform will enable our customers, to get realtime
information about the status of their plans. It gives corporate an affordable option of
improving employer - employee relationships," said Mr. Vijay Singh, Director, Birla Sun Life
Insurance.

Unique Features
The Group Protection Solutions is designed to provide life insurance protection to the employees of your organisation at
an affordable cost

Duration
The Group Protection Solutions is a yearly renewable policy.

Coverage
Flat cover or Uniform cover.Graded cover according to the designation / ranks of employees in the
group.Multiple of salary.

Maturity
No benefits are payable at the end of policy period or on earlier termination of policy.

Beneficiary
Gets the Coverage Amount on death of Member while the policy is in force.

Eligibility
All employees between the age of 18 to 60 are eligible for this plan. It is possible to extend the
maximum age beyond 60 years where the normal retirement age exceeds 60 years to a max of 65
years.All the employees should satisfy a simple insurability condition that they are actively at work
at the inception of the plan.
The coverage will be allowed as long as the policy is in force and the Member is in employment of
the scheme's employer.

Accidental Death
This rider covers the risk of death of an employee due to accident. It provides for payment of an
amount equal to rider Sum Assured to the beneficiary of the employee in the event of his or her
death due to accident.

Exclusions
Birla Sun Life Insurance will not pay any part of this Coverage Amount if the death or
dismemberment of the Life Insured is a direct or indirect result of any of the following:

• Suicide or self-inflicted injury, whether the Life Insured is medically sane or insane War,
• terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion,
revolution, insurrection, military or usurper power, riot, or civil commotion (war means any
war whether declared or not).

• Service in armed forces, or any auxiliary civilian force, of any country at war or service in
any force of an international body

• Committing an assault, a criminal offence, an illegal activity or any breach of law


• Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotic,
medicine, sedative or poison, except as prescribed by a licensed doctor other than the Life
Insured or any relatives of the insured.

• Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the course of
duty

• Bodily or mental infirmity or any disease

• Participation in aviation other than as a fare-paying passenger in an aircraft which is


authorised by the relevant regulations to carry such passengers between established
aerodromes.

• Atomic energy explosion of any nature whatsover.

• Participitaion in dangerous sports like polo,hunting,horse trading or motor racing and the
likes.

Accidental Death and Dismemberment

This rider covers the risk of death of a member due to an accident as well as the risk of
dismemberment i.e. the loss of a limb or eyesight while the coverage is in force. The rider provides
for payment of an amount to the beneficiary or the employee (member) as the case may be in the
event of accidental death or dismemberment.

The amount payable is

• 100% of rider Sum Assured in the event of death due to accident.


• 50 % of rider Sum Assured in the event of member losing one limb or sight in one eye.
• 100% of rider Sum Assured if the member loses more than one limb or sight in both eye or
one limb and sight in one eye.

The rider benefit is terminated for a member once the rider benefit is paid.

Exclusions
Birla Sun Life Insurance will not pay any part of this Coverage Amount if the death or
dismemberment of the Life Insured is a direct or indirect result of any of the following :

• Suicide or self-inflicted injury, whether the Life Insured is medically sane or insane.

• War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law,
rebellion, revolution, insurrection, military or usurper power, riot, or civil commotion
(war means any war whether declared or not)

• Service in armed forces, or any auxiliary civilian force, of any country at war or
service in any force of an international body

• Committing an assault, a criminal offence, an illegal activity or any breach of law

• Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug,


narcotic, medicine, sedative or poison, except as prescribed by a licensed doctor other
than the Life Insured or any relatives of the insured.

• Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the


course of duty

• Bodily or mental infirmity or any disease

• Participation in aviation other than as a fare-paying passenger in an aircraft which


is authorised by the relevant regulations to carry such passengers between established
aerodromes

• Atomic energy explosion of any nature whatsover.

• Participitaion in dangerous sports like polo,hunting,horse trading or motor racing


and the likes.

Critical Illness

The rider Sum Assured is paid if the member is diagnosed to be suffering from any of these four
illnesses and the member survives the specified illness for a period of at least 30 days from the date
of diagnosis. The four critical illness covered are Heart Attack, Stroke, Malignant Cancer and
Bypass surgery on Coronary Arteries.

Exclusions

Birla Sun Life Insurance will not pay any part of this Coverage Amount if an Insured Critical
Condition is a direct or indirect result of any of the following
• Any diagnosis of an Insured Critical Condition made within 90 days from the date of
becoming insured under this Policy.

• Any pre-existing or recurring Insured Critical Condition which is diagnosed or


which the Life Insured contracted prior to the date of becoming insured under this Policy

• Attempted suicide or self-inflicted injury, whether the Life Insured is medically


sane or insane.

• Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug,


narcotic, medicine, sedative or poison, except as prescribed by a licensed doctor other
than the Life Insured.

• Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the


course of duty.

• Committing an assault, a criminal offence, an illegal activity or any breach of law.

• Disease in due presence of an human immunodefeciency virus infection.

Term Rider

The Term Rider enables an individual Member within the Group to take an additional cover within
the group policy. The premium for this coverage may be paid either by employer or by the
employee. The rider provides for an additional amount to be paid to the Beneficiary should the
employee die while the rider is in force.

Tax Benefits

For Employer

• Premiums paid by Employer are allowed as business expense in the year of payment.
For Employee

• Premiums paid by Employer are not included in the value of taxable perquisites in the hands
of employee in terms of section 17(2) (v).

• Premiums paid by the employee are eligible for tax deduction under section 88.

• Death benefits when paid are not subject to tax.


Critical Illness Plus

Subject to provisions of Diagnosis, Insured Critical Illness clauses as set out in the following
paragraphs, Birla Sun Life Insurance will pay for this Rider Coverage in respect of a Member if
he/she

• Is diagnosed to be suffering from one of the conditions specified in the Insured Critical
Conditions provision in this Rider Coverage; and

• Survives the Insured Critical condition for a period of at least 30 days from the date of
diagnosis

• While this Rider Coverage is in force and provided that Birla Sun Life Insurance receives
evidence satisfactory to it, in its sole discretion, of;

• The diagnosis the Member is suffering from an Insured Critical Condition; and

• Any other facts which Birla Sun Life Insurance may consider material to claim.
Diagnosis

In this Rider Coverage, the term diagnosis means the certified diagnosis of an Insured Critical
Condition by a medical practitioner;
• Other than the Member or any relative of the Member;

• Licensed and practicing medicine; and

• Deemed acceptable by Birla Sun Life Insurance.

Birla Sun Life Insurance reserves the right to require medical examination of the Member and
confirmation of the diagnosis of an Insured Critical Condition by a medical practitioner appointed
by it.

Insured Critical Conditions

Insured Critical Conditions for this Rider Coverage are:

Heart Attack
The death of a portion of the heart muscle as a result of inadequate blood supply to the relevant area,
provided always that diagnosis must be passed by all the of following:

• A history of typical prolonged chest pain;


• New electrocardiographic changes; and
• Elevation of infarction specific enzymes Non- ST- segment elevation myocardial infarction
(NSTEMI) with elevation of Troponin I or T is excluded.
Stroke
Any cerebrovascular incident producing neurological sequelae lasting more than 24 hours and of a
permanent nature. Evidence of permanent neurological damage must be confirmed by a neurologist
within 90 days after the incident and no claim can be admitted earlier.

This includes infarction of brain tissue, cerebral haemorrhage, or embolisation from an extra-cranial
source.

Specifically excluded are transient ischaemic attacks, any reversible ischaemic neurological deficit,
vertebrobasilar ischaemia and cerebral symptoms due to migraine.

Cancer
A malignant tumour characterized by the uncontrolled growth and spread of malignant cells and the
invasion of tissue.

This includes Leukaemia and malignant disease of the lymphatic system such as Hodgkin's disease
and invasive melanoma starting with Clark's Level III or 1.50 millimetres in thickness.

Specifically excluded are:

• All tumours which are histologically described as benign, premalignant, non-invasive,


cervical dysplasia (CIN) or cancer in-situ;
• Prostate cancer stage 1; Hodgkin's Disease stage I
• All forms of lymphoma in the presence of Human Immunodeficiency Virus;
• Kaposi's Sarcoma in presence of Human Immunodeficiency Virus; and
• Any skin cancer other than invasive malignant melanoma starting with Clark Level III or
1.50 millimeters in thickness.

Surgery to Coronary Arteries

The actual undergoing of open heart surgery for the correction of one or more coronary arteries,
which are narrowed or blocked, by coronary artery bypass graft (CABG). The surgery must have
been proven to be necessary by means of coronary angiography.

Specifically excluded are angioplasty, chelations, and other palliative procedures including
rotablation and laser application, and all other intra-arterial and non-surgical

Kidney Failure (End Stage Renal Disease)

End stage renal disease presented as chronic irreversible failure of both kidneys to function, as a
result of which either regular renal dialysis (hemodialysis or peritoneal dialysis) is instituted or renal
transplantation is carried out.
Aorta (Surgery of Aorta)

The actual undergoing of surgery for a disease of the aorta needing excision and surgical
replacement of the diseased aorta with a graft. For the purpose of this definition aorta shall mean the
thoracic and abdominal aorta but not its branches. Traumatic injury of the aorta is excluded.

Heart Valve Surgery

Open heart valvuloplasty, valvulotomy or replacement of one or more heart valves. This includes the
aortic, mitral, pulmonary or tricuspid valves due to stenosis or incompetence or a combination of
these factors.

Major Organ Transplantation

The actual undergoing of a transplantation as the recipient of a heart, lung, liver, pancreas, kidney or
bone marrow.

Paralysis
Total and irreversible loss of use of two or more limbs through paralysis due to accident or sickness.
These conditions should persist for a period of at least 90 days.

Alzheimer's Disease before age 60

Clinically established diagnosis of Alzheimer's Disease (presenile dementia) before age 60 resulting
in a permanent inability to perform independently three or more Activities of Daily Living ? bathing,
dressing/undressing, getting to and using the toilet, transferring from bed to chair or chair to bed,
continence, eating/drinking and taking medication ? or resulting in need of supervision and
permanent presence of care staff due to the disease. These conditions should persist for a period of at
least 90 days.

Benign Brain Tumour

Removal of a non-cancerous growth of tissue in the brain under general anaesthesia leading to a
permanent neurological deficit or if inoperable also leading to a permanent neurological deficit.
Specifically excluded are all cysts, granulomas, malformations in or of the arteries or veins of the
brain, haematomas and tumours in the pituitary gland or spine.

Deafness (Loss of Hearing)

Total and irreversible loss of hearing in both ears.

Parkinson's Disease before age 60

Unequivocal diagnosis of idiopathic or primary Parkinson's Disease (all other forms of Parkinsonism
are excluded) before age 60 by a consultant neurologist holding such an appointment at an approved
hospital. The disease must result in a permanent inability to perform independently three or more
Activities of Daily Living ? bathing, dressing/undressing, getting to and using the toilet, transferring
from bed to chair or chair to bed, continence, eating/drinking and taking medication ? or must result
in need of supervision and permanent presence of care staff due to the disease. These conditions
should persist for a period of at least 90 days.

Termination of Coverage

The Critical Illness Rider Coverage in respect of any Member under this Policy will terminate on the
earliest of the following dates:

• Date of termination of Life Insurance Coverage in respect of the Member



• Date of payment of Coverage amount under this Rider Coverage.
• The date on which the Member is diagnosed as suffering from any one of the Insured Critical
Conditions

Exclusions
Birla Sun Life Insurance will not pay any part of this Coverage Amount if an Insured Critical
Condition is a direct or indirect result of any of the following:

• Any diagnosis of an Insured Critical Condition made within 90 days from the date of
becoming insured under this Policy

• Any pre-existing or recurring Insured Critical Condition which is diagnosed or which the
Life Insured contracted prior to the date of becoming insured under this Policy

• Attempted suicide or self-inflicted injury, whether the Life Insured is medically sane or
insane

• Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotic,


medicine, sedative or poison, except as prescribed by a licensed doctor other than the Life
Insured.

• Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the course of
duty

• Committing an assault, a criminal offence, an illegal activity or any breach of law.

Total & Permanent Disability

Total and Permanent Disability (TPD) rider pays a fixed benefit amount upon the occurrence of a
very severe disability, caused by bodily injury due to accident, which perpetually prevents the
insured from working in any gainful occupation for the remainder of life and does not result from
any of the causes listed in the Exclusions described below under this Rider Coverage and provided
that Birla Sun Life Insurance receives evidence satisfactory to it of;The Total and Permanent
Disability of the Member; and Any other facts which Birla Sun Life Insurance may consider as
material and
relevant to the claim.

Total and Permanent Disability means

Disability caused by bodily injury due to accident which causes permanent inability to perform any
occupation or to engage in any activities for remuneration or profit and which has lasted for at least
180 days.

The loss of both arms, or of both legs, or of one arm and one leg, or of both eyes, shall be considered
total and permanent disability, without prejudice to other causes of total and permanent disability.
Loss shall mean, with regards to arms and legs, dismemberment by amputation of the entire hand or
foot, and, with regard to eyes, entire and irrevocable loss of sight

The loss of one arm, or of one leg, or of sight in one eye, shall entitle the insured to 50% of the rider
sum assured. In no event shall the cumulative paid benefits be more than the rider sum assured.

Termination of Coverage

The Total and Permanent Disability Rider Coverage in respect of any Member under this Policy will
terminate on the earliest of the following dates

• The date Birla Sun Life Insurance pays a claim in respect of the Member under this Rider
Coverage.
• The date of termination of Life Insurance Coverage of the Member.

• The date this Policy is terminated in accordance with its terms.

Exclusions
Birla Sun Life Insurance will not pay any part of this Coverage Amount if the Total Permanent
Disability of the Member is a direct or indirect result of any of the following:

• Suicide or self-inflicted injury, whether the Member is medically sane or insane

• War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion,
revolution, insurrection, military or usurper power, riot, or civil commotion (war means any
war whether declared or not)

• Service in armed forces, or any auxiliary civilian force, of any country at war or service in
any force of an international body

• Committing an assault, a criminal offence, an illegal activity or any breach of law


• Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotic,
medicine, sedative or poison, except as prescribed by a licensed doctor other than the Life
Insured

• Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the course of
duty

• Bodily or mental infirmity or any disease

• Participation in aviation other than as a fare paying passenger in an aircraft which is


authorised by the relevant regulations to carry such passengers between established
aerodromes

• Atomic energy explosions of any nature whatsoever Participating in dangerous sports like
polo, hunting, horse trading, motor racing or other dangerous sport

2. Group Superannuation Plan


It covers the following:-

Unique Features

Services Offered

Tax Benefits

Investment Fund

Ready Reference

Exceptional Circumstances

Terms Defined

BSLI

Administration Guidelines
In this policy, the investment risk in investment portfolio is borne by the policyholder

Being a preferred employer


The driving force behind an organisation is its people. And the driving force behind the people can
be the promise of a secure future and a comfortable retired life. A promise that can be made by the
employer through an appropriate retirement solution. In short, a retired life the employee can look
forward to.

As a thoughtful employer, it's imperative on your part to chalk out a comfortable retirement plan for
your employees. A gesture that will go a long way in not only establishing your image as the most
preferred employer but also serving as a motivational and retention tool for your employees. That's
precisely where the Birla Sun Life Group Superannuation Plan comes in, a retirement plan designed
to give your employees a happy and tension-free life.

Group Superannuation Plan - Retiring in comfort

Under this plan you can make a contribution for each member, so as to build a retirement corpus,
which can provide him/her financial security at retirement. You can take this plan for all your
employees or a group of specified employees. Your contribution can be built-in in the employees’
remuneration package and considered as a part of Cost to the Company (CTC) Thus this plan fulfills
employee welfare, financial planning as well as tax planning needs. All in all, a plan that can be
customized to the unique requirements of your organisation.

Unique Features

Unit-Linked Plans, a retirement boon

As pioneers in Unit Linked Solutions, Birla Sun Life Insurance brings you this plan that combines
safety and growth. This is how it works. The member-wise contribution is invested in one or more
of the unitized funds. You have the freedom to choose from one or more of the six investment funds,
depending on their investment outlook. This creates an opportunity to get market linked returns and
growth in the investment in the long run.

Choose your fund. Choose your future

The Unit-Linked platform offers the benefit of six investment funds. You can select the fund of your
choice for your contribution. Additionally, your contribution can be allocated in various proportions
to any of the six funds.

You can also use a combination of the six funds or select a few that best meets your investment
outlook and needs.

If you wish to diversify your risk, you can choose to allocate your premium in varying proportion
amongst the available Investment Funds and create your own fund. You can switch * between the
Investment Fund options and change the allocation into the various funds @ anytime during the
policy tenure. In a year two switches will be free.

Investment safety first

Retirement investments are sacred investments. And their safety is our primary concern. Hence the
original/principal contribution is guaranteed against any market fluctuation at the exit of any
member. Exit can be either through retirement, resignation or death.

Freedom to Switch Funds

To help you to manage risks and optimize the returns based on market performance, the
policyholder has the option of changing the allocation in various funds after completion of the first
policy year. This further helps to earn better returns and make your money work harder. We provide
two free switches in a year where you can change the Investment Fund options. Additional number
of switches is possible at a nominal Switching Charge up to a maximum of 0.75% of the funds
transferred.

Freedom of Premium Redirection

To help you to manage risks and optimize the returns based on market performance, the
policyholder has the option of changing the percentage of allocation in various funds after
completion of the first policy year. This further helps to earn better returns and make your money
work harder.

Track the retirement fund

To enable your employees to track the status of their Investment Fund, an annual statement is sent to
each member. Alternatively, they can update themselves easily by logging on to
www.birlasunlife.com with the unique customer ID and password provided.

Flexibility to choose the annuity provider


On retirement or resignation, the employee can buy an annuity from any annuity provider including
Birla Sun Life Insurance. This provides maximum flexibility and freedom to your employees.
Funds at retirement

On Vesting date (retirement or resignation or death), benefits of the retirement fund are payable as
per the rules of the trust fund. The total units in the funds are payable at the applicable NAV. The
employee has the option of withdrawing (commuting) 33.33% of the fund. Balance to be invested to
buy an annuity from an annuity provider.

Free Administration services

Should you want to start a new fund, we will assist you in the formation of the
Trust and documentation like Trust Deed, etc.
Additionally, any existing approved Superannuation Fund can be taken over by us. We also offer
assistance in documentations like Deed of Variation etc.

Services Offered

Any time switch option available.

2 free switches in a year

CIP/TPINS issued to individual members so as to enable employees to check the status of their
funds, monitor their fund performance etc. The member has an option of placing a request for switch
in funds. He can also provide his valuable feedback/suggestions etc that gets redirected to our
dedicated e-mail ID grouphelpline@birlasunlife.com.

Individual Policy Account Statement issued at the end of every policy year
Cost & Benefit particulars issued for each contribution received, giving member-wise details (viz
Fund Option, NAV applicable, Units allocated etc)

Tax Benefits

The contributions to an approved Superannuation Fund are allowable as business deduction under
section 36(1)(iv) of the Income Tax Act 1961. The contribution should not exceed 27% of the basic
salary less the amount contributed by the employer towards a Recognized Provident Fund.
Additionally any contributions to the Superannuation Fund in excess of Rs. 1 lakh per employee will
be subject to Fringe Benefit Tax (FBT).

The benefits received by the employee from a Superannuation Fund is exempt from tax under
section 10(13) of the Income Tax Act in the following cases:

• Death of the beneficiary]


• Commuted value on retirement.
• Refund of contributions in case of death.

Deduction will be allowed under section 80C of the Income Tax Act for a contribution by an
employee to an approved Superannuation Fund subject to the limits specified under section 80CCE
of the Income Tax Act.

Investment funds

Contributions made on behalf of each Member will be invested in one or more of the nine BSLI
Funds currently offered: Fixed Interest Fund, Bond Fund, Gilt Fund, Secure Fund, Stable Fund and
Growth Fund.
Asset Mix with the minimum and maximum limits of each tment category. invest

Fixed
Bond Gilt Secure
Asset Class Interest
Fund Fund Fund
Fund
Government
and
20%- 50%- 30%-
Government Nil
70% 100% 90%
approved
securities
Corporate
Bonds rated 30%- 80%-
Nil 0%-30%
AA or above 75% 100%
by Crisil
Money market
0%- 0%-
and other 0%-20% 0%-20%
20% 20%
liquid assets
Infrastructure
sector as
Nil Nil Nil 0%-25%
defined by the
IRDA
10%-
Listed equities Nil Nil Nil
20%

The objective and strategy of the various Investment Funds is as given below:

Fixed Interest Fund

Objective: The Investment Fund option with full exposure in debt market instrument, aims to
achieve value creation at low risk over a long-term horizon by investing into high quality fixed
interest securities.

Strategy: Active Investment Fund management at a medium level of risk by having entire exposure
to government securities, corporate bonds maintaining medium to long-term duration of the portfolio
to achieve capital conservation.

Bond Fund

Objective: The Investment Fund option aims to achieve capital preservation along with stable
returns by investing in corporate bonds over medium-term period.
Strategy: The Investment Fund follows a strategy to invest in high credit rated corporate bonds,
maintaining a short-term duration of the portfolio at a medium level of risk to achieve capital
conservation.

Gilt Fund

Objective: The Investment Fund Option aims to deliver safe and consistent returns over a long-term
period by investing in Government Securities for capital preservation of the policyholder.

Strategy: The Investment Fund strategy is to invest in government securities, maintaining a medium
to long-term duration of the portfolio to achieve capital conservation.

Secure Fund

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.

Stable Fund

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 Investment 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.

Growth Fund

Objective: The objective of the Investment Fund Option is to achieve optimum balance between
growth and stability to provide long-term capital appreciation with balanced level of risk by
investing in fixed income securities and high quality equity security. This Investment Fund option is
for those who are willing to take average to high level of risk to earn attractive returns over a long
period of time.

Strategy: The strategy is to invest into fixed income securities & maintaining diversified equity
portfolio along with active fund management policyholder's wealth in long run.
The Risk Profiles of the different asset classes is as under:-
Type of Asset Risk Profile
Govt & Govt approved securities Low
Corporate Bonds Medium
Infrastructure sector as defined by IRDA Medium
Money Market and Other Liquid Assets Very Low
Listed Equities High

Ready Reference

a) Eligibility

All employees (members) above the age of 18 are eligible for this plan. Existing fund approved by
the Income Tax Commissioner should be administered through Trustees under a Trust.

b) Contributions

Employer normally provides the contribution. This can be built into the remuneration package of the
employee. Even an employee can contribute additional amount towards the fund. Contributions can
be made annually, semi-annually, quarterly or monthly or in single lump sum.

c) Past Service Contributions

At the option of the Trustees/Employer, past service contributions can be made in respect of the
members to be covered under the plan . This past service contribution can be paid in installments.

d) Choose your investment option

The contribution will be credited to each members account . The policyholder has the freedom to
select from one or more of the 6 Investment Fund options. Alternatively, Employer/Trustee can also
make the investment choice on behalf of all the members.

e) Fund Management

Member wise contribution will be administered on a unitized basis. In case of contribution both
from employer and member, contribution accumulation is maintained separately in the system.
NAVs are calculated on every business day. The Net Asset Value per unit of each Investment Fund
will be calculated as per the prevailing IRDA guidelines."
f) Unit Allocation

Units in the Investment Funds will be allocated by dividing the Contribution allocated to the
Investment Fund by the applicable NAV of the Investment Fund calculated as per prevailing IRDA
guidelines

g) Calculation of NAV

The net asset value per unit of each Investment Fund will be calculated as per the prevailing IRDA
guidelines.

The valuation of scheme's investments will be in accordance with the provisions of IRDA
Regulations/Insurance Act, 1938, as amended from time to time. Under extraordinary circumstances,
such as extreme volatility of the value of the investments of an Investment Fund, extended
suspension of trading on the stock exchanges, natural calamities, riots and similar events, the
Company reserves the right to suspend the cancellation or allocation of Units. The Company also
reserves the right not to value one or more Investment Funds or to change the formula for
calculating NAV under these circumstances. The changes to the formula would be made subject to
IRDA Approval.

h) Fund Management Charge

Birla Sun Life Insurance shall charge Fund Management Charge upto 1.50% of the Fund Value. The
above charges will be recovered by way of adjustment of NAVs.

i) Surrender Charges

In case of termination of policy by the policyholder, Fund Value less Surrender Charges as per
the following table will be paid. The Surrender Charge is levied as a percentage of Fund Value.

Upon termination by the Policyholder in the: Surrender Charge (as a Percentage of the Policy
Fund Value)

First Policy 0.5


Year
Second Policy 0.25
Year
Third Policy Nil
Year

j) Switching Charge

Every year, two free switches between any of the six investment funds are allowed. A switching
charge upto a maximum of 0.75% of the amount transferred is levied from the third switch onwards.
k)Termination of the scheme

The scheme can be terminated in the manner set out below:

1.By the Policyholder by providing written notice to BSLI stating its intent to terminate this
Policy in which case this Policy will terminate on the later of the date specified in the notice; or
30 days from the date on which BSLI receives the notice.

2.By BSLI on any date after giving 30 days' written notice to the Policyholder; or on any date if
required by legislation.

3.Automatic Termination: The Policy will automatically terminate 180 days after the balance in
the Fund Value is zero.

l) Closure of funds

BSLI may close any BSLI Fund available under the Policy at any time, subject to the consent of
the Policyholder and with the prior approval of IRDA.

Exceptional Circumstances

Under extraordinary circumstances such as extreme volatility of assets, extended suspension of


trading on stock exchange, natural calamities, riots and similar events Birla Sun Life Insurance
reserves the right of changing formula for NAV calculations These changes will be done subject to
IRDA approval and norms from time to time

Terms Defined

Member is an employee and part of the Group

Group Denotes the total members covered by the Policy.

Fund Value means and includes the number of units in the various chosen funds at any given time
purchased with the contributions made by the policyholder.

Annuity means a life insurance contract providing for periodic payments of a fixed or variable
amount for the life of the insured, issued by a licensed insurer in accordance with the applicable
legislation.

Beneficiary is the person nominated by the member to receive benefits in the event of death of the
member.

Risk Factors/Disclaimers

• This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI).
• Birla Sun Life Insurance, Group Superannuation, Fixed Interest, Bond, Guilt, Secure, Stable,
Growth 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 Charges mentioned above are applicable to all the 6 Investment Fund Options offered at
present. All the policy charges can be modified by the company subject to approval of the
IRDA.
• The company reserves the right to introduce new Investment Funds with different charges
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 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 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.

3. Group Gratuity Plan


it covers the following

Unique Features

Services Offered

Tax Benefits

Ready Reference

Terms Defined

BSLI

In this policy, the investment risk in investment portfolio is borne by the policyholder.

Gratuity: The Loyalty Reward


Loyalty pays. And the proof is Gratuity. It's a statutory benefit to the employees under the Gratuity
Act, 1972. According to this Act, the employee becomes eligible for 15 days pay for each completed
year of service. This is payable on death of the employee during his tenure of service or if the
employee retires after 5 years of continuous service.

Gratuity benefits are a statutory liability for any organisation and tend to increase annually as the
salaries and tenure of employment increase. In the case of growing organizations, Gratuity benefits
can work out to a substantial amount. If the employer pays the Gratuity benefit from its day-to-day
operations it can become difficult to meet this liability on a sustainable basis. Therefore, it makes
sense to have a Gratuity Fund. Call it prudent financial planning that is beneficial both to the
employer as well as the employee.

For the first time in India, Birla Sun Life Insurance brings Group Gratuity Plan that is beneficial in
more ways than one.

Unique Features
More for less through Efficient Returns
We offer an opportunity to earn market-linked returns on the Gratuity contribution. A healthy
market-linked return can help augment the asset base and can decrease your future contribution to
the Gratuity Fund.

The asset allocation flexibility between various Investment Funds gives you the added advantage of
efficient investment management. These multiple fund options and the facility to switch among
them give you a further opportunity to optimize your returns as per your outlook based on market
trends.

Choose your fund. Choose your future.

The Unit-Linked platform offers the benefit of nine Investment Funds. You can select the fund of
your choice for your contribution. Additionally, your contribution can be allocated in various
proportions to any of the nine funds. You may use a combination of all the nine funds or use the few
that best meet your investment outlook and needs.

Manage your risk. Protection Fund option

Amongst the nine fund options, we also offer you an opportunity to preserve the capital. The
Protection Fund option provides a guarantee on the NAV at which Units are allocated, on all
contributions (less any redemptions), which have been invested in this fund option for a period of 3
years or more.

Initial Allocation

We offer unique value added benefit of additional units up to 5% of the initial contribution.

Feel free to Switch Funds


To enable you to manage the risk and optimize the returns based on market performance, you have
the option of changing the allocation in various funds. This further helps you earn better returns and
make your money work harder. We provide four free switches during one year where you can
change the fund options. Additional number of switches is possible at a nominal switching charge.

Freedom of Premium Redirection

To help you to manage risks and optimize the returns based on market performance, the
policyholder has the option of changing the percentage of allocation in various funds after
completion of the first policy year. This further helps to earn better returns and make your money
work harder.

Easy Investment Tracking

To enable your employees to track the status of their investment and growth, an annual investment
statement is sent to each employee.

You can track your investment easily on www.birlasunlife.com using your unique customer ID and
password, which will be provided to you.

Easy Installments: Freedom from anxiety

We provide you the facility to fund your past gratuity liability contribution in easy installments.

Future Service Gratuity: Life Insurance Cover

Life Insurance cover equal to future service gratuity and future PF contribution, if any or flat/graded
cover will be added. The premium for Term insurance cover will be computed separately. Insurance
cover will be paid only on the death of the member.

Future Service Provident Fund: For extra Life Insurance cover

As in the case of Gratuity, you can also provide Life Insurance cover to the extent of Provident Fund
to cover the unfortunate death of an employee. The Provident Fund benefit will be payable for the
full deemed service till retirement age.

Retirement Benefits: Comfort to your employees

Gratuity benefits are payable on retirement, resignation, termination or the unfortunate death of an
employee based on the pre-defined formula. The Gratuity benefit payable will be as per the Gratuity
Act, 1972. However the employer may also provide a higher benefit formula.

Services Offered
• 4 free switches in a year
• Any time switch option available.

• CIP/TPINS are issued to the group policyholder so as to empower them to check their fund
account, derive absolute rate of returns etc. The client can also place requests for change of
address, switch of funds etc.

• Policy Account Statement is issued at the end of every policy year

• Option to invest in single fund or multiple funds.


Income Tax Benefits

As per current legislation, the employer may contribute up to 8.33% of annual wage bill and claim it
as deductible business expense under section 36 (i)v of the Income Tax Act, 1961.

Employer may claim the entire initial contribution up to 8.33% of the employee's salary for each
year of the past service. Income on investment is exempt from tax under section 10(25) (iii) of the
Income Tax Act, 1961.

Ready Reference
A)Eligibility

All employers may subscribe to this plan to provide Gratuity benefit to their employees. Employees
above the age of 18 can benefit under this plan and there is no maximum age limit.
b) Contribution & Premiums for Life Insurance Coverage

The Trust will make the contribution to the fund. Contributions as well as Life Insurance Coverage
premiums can be made monthly, quarterly, half-yearly or annually. There is no minimum
contribution and the minimum sum assured is Rs 1000 per member. The minimum policy term for
contributions is five years.

c) Past Service Contribution

For the organisation intending to set up a new fund, the contribution to provide for the past service
liability can be made based on an actuarial valuation . This past service contribution may be paid in
installments to establish the Gratuity Fund.

d)Choose your investment option

The contributions will be credited to the Group Account. Policyholder can allocate the contribution
to one fund option or allocate in various proportions to the nine different funds.
Interest Bond Gilt Secure Stable Growth
Name Of Security Fund Fund Fund Fund Fund Fund

Government and Government approved 20%-70% 50%- 15%-


securities nil 100% 30%-90% 30%-80% 55%
30%-75% 80%- 10%-
Corporate Bonds rated AA or above by Crisil 100% Nil 0%-30% 0%-30% 30%
0%-20% 0%- 0%-
Money market and other liquid assets 0%-20% 20% 0%-20% 0%-20% 20%
Nil 0%-
Infrastructure sector as defined by the IRDA Nil Nil 0%-25% 0%-25% 25%
Nil 35%-
Listed Equities Nil Nil 10%-20% 10%-20% 50%

BSLI Funds

Contributions made on behalf of each Member will be invested in one or more of the nine BSLI
Funds currently offered: Protection Fund, Money Market Fund, Floating Rate Fund, Fixed Interest
Fund, Bond Fund, Gilt Fund, Secure Fund, Stable Fund and Growth Fund. BSLI’s liability is limited
to the Fund Value available only

BSLI Funds– Asset Mix with the minimum and maximum limits of each investment category.

The investment pattern is as under:


The Asset Mix of the Money Market Fund is as under:
Asset Class Min/Max Limit of
Percentage of Assets
Money market instruments including treasury bills,

commercial paper, certificates of deposit, short term deposits,

government securities and cash 80%-100%

Fixed rate debt securities which at the time of purchase have

residual or average maturity of more than 365 days 0%-20%


You can allocate a maximum of

of funds in Money Market Fund 20%

The Asset Mix of the Floating Rate Fund is as under:

Asset Class Min/Max Limit of


Percentage of Assets

Floating rate debt securities including fixed rate debt instruments swapped for

floating rate returns 50%-100%


Fixed rate debt securities 0%-30%
Money market and other liquid instruments including bank deposits and cash 0%-
20%

The Asset Mix of the Protection Fund is as under:

Asset Class Min/Max Limit


of
Percentage of Assets
Government and Government approved securities 80%-100%
Corporate Bonds rated A.or above by Crisil 0%-20%

Money market and other liquid assets 0%-20%


Infrastructure sector as defined by the IRDA 0%-25%
Listed Equities Nil

The objective and strategy of the various funds is as given below:

Fixed Interest Fund

Objective: The Investment Fund Option with full exposure in debt market instrument, aims to
achieve value creation at low risk over a long-term horizon by investing in high quality fixed interest
securities.

Strategy: Active fund management at a medium level of risk by having entire exposure to
government securities, corporate bonds maintaining medium to long-term duration of the portfolio to
achieve capital conservation.

Bond Fund

Objective: The Investment Fund Option aims to achieve capital preservation along with stable
returns by investing in corporate bonds over medium-term period.

Strategy: The fund follows a strategy to invest in high credit rated corporate bonds, maintaining a
short-term duration of the portfolio at a medium level of risk to achieve capital conservation.

Gilt Fund

Objective: The Investment Fund Option aims to deliver safe and consistent returns over a long-term
period by investing in Government Securities for capital preservation of the policyholder.

Strategy: The Investment Fund Option strategy is to invest in government securities, maintaining a
medium to long-term duration of the portfolio to achieve capital conservation.

Secure Fund

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.
Stable Fund

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.

Growth Fund

Objective: The objective of the Investment Fund Option is to achieve optimum balance between
growth and stability to provide long-term capital appreciation with balanced level of risk by
investing in fixed income securities and high quality equity security. This Investment Fund Option is
for those who are willing to take average to high level of risk to earn attractive returns over a long
period of time.

Strategy: The strategy is to invest in fixed income securities & maintaining diversified equity
portfolio along with active fund management of policyholder's wealth in the long run.

Floating Rate fund

Objective: The primary objective of the Investment Fund Option is to provide income consistent
with prudent level of risk to achieve capital conservation for the policyholder.

Strategy: The strategy of the Investment Fund Option is to build a portfolio comprising substantially
of floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and
also fixed rate instruments and money market instruments.

Money Market fund

Objective: The primary objective of the Investment Fund Option is to provide reasonable returns, at
a high level of safety and liquidity for capital conservation for the policyholder.

Strategy: The strategy of the Investment Fund Option is to make judicious investments in high
quality debt and money market instruments to protect capital of the policyholder with very low level
of risk.

Protection Fund
Objective: The Investment Fund Option with full exposure to debt market instruments, aims to
achieve capital protection at medium level of risk.

Strategy: The strategy of the Investment Fund Option is to have combination exposure with
Government securities & corporate bonds, maintaining low to medium term duration of the portfolio
to achieve capital conservation for the policyholder

Risk Profiles of Investment Options


Type of Asset Risk Profile

Government & Government approved securities Low

Corporate Bonds Medium

Infrastructure sector as defined by IRDA Medium

Money Market and other Liquid Assets Very Low

Listed Equities High

e) Fund Management

One Group Account is maintained in the system and Net Asset Value per unit of each Investment
Fund will be calculated.

f) Unit Allocation

Units in the BSLI Funds will be allocated to the account of the Policyholder by dividing the
contribution allocated to the Investment Funds by the applicable NAV of that Investment Fund
calculated as mentioned below.

On issue of the policy, units will be allocated on the policy issue date. For subsequent contributions
received, the cut-off timings will be as follows:

• Cash or local cheque received at any of our offices by duly authorised officials before 4.15
p.m. on a working day will be allocated units based on the NAV declared for that day.

• Cash or local cheque received at any of our offices by duly authorised officials after 4.15
p.m. on a working day will be allocated units based on NAV declared for the next working
day.

• Outstation cheque received at any of our offices by duly authorized officials will be
allocated units based on the NAV on the working day we receive credit in our bank account.
The above-mentioned timings are subject to change according to applicable regulations.

g) Calculation of NAV

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 mentioned below. When
Appropriation Price is applied: The NAV shall be computed as under:
(Market Value of Investments held by the fund + 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 under:


(Market Value of Investments held by the fund - 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)

h) Fund Management Charge

Birla Sun Life Insurance shall charge a Fund Management Charge, which will vary, based on the
Investment Fund. This charge may increase upto 1.7% of the funds p.a.. These charges will be
recovered by way of adjustment of NAVs.

i) Switching Charge

Every year, four free switches between the nine investment funds are allowed. A switching charge of
Rs 100 will be levied from the fifth switch onwards. This charge may increase up to Rs 1000 with
approval from the IRDA.

j) Surrender Charges

The Surrender Charge is levied as a percentage of contribution received in the first policy year.In
case of termination of policy by the policyholder, the Surrender Charges will be deducted from the
Fund Value as per the following table.

Initial Allocation
Policy Year 0% 1% 2% 3% 4% 5%
1 0.50% 1.50% 2.50% 3.50% 4.50% 5.50%
2 0.25% 1.05% 1.85% 2.65% 3.45% 4.25%
3 0.00% 0.60% 1.20% 1.80% 2.40% 3.00%
4 0.00% 0.40% 0.80% 1.20% 1.60% 2.00%
5 0.00% 0.20% 0.40% 0.60% 0.80% 1.00%
Thereafter 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
k) Termination of the scheme

The scheme can be terminated in the manner set out below:

1.By the Policyholder by providing written notice to BSLI stating its intent to terminate this policy
in which case this policy will terminate on the later of the date specified in the notice or 30 days
from the date on which BSLI receives the notice.

2. By BSLI on any date after giving 30 days' written notice to the Policyholder or on any date if
required by legislation.

3. Automatic Termination: The policy will automatically terminate 180 days after the balance in the
Fund Value attains a Surrender Value of Rs 50,000 or at the end of the five year period as mentioned
in the Premium Discontinuance provision if the policyholder continues non-payment of premium.

l) Closure of funds

BSLI may close any BSLI Fund available under the Policy at any time, subject to the consent of the
Policyholder and with prior approval of IRDA

m) Premium Discontinuance

Non-receipt of due premium for Life Insurance Coverage within 30 days from the premium due
date:

To continue the policy as it is, the Policyholder must pay, within the grace period of 30 days, an
amount equal to all premiums towards Life Insurance Coverage due but unpaid. At the end of the
grace period if the premium is not received, the policyholder will be given a period of five policy
years to pay any due and unpaid premiums. During these five policy years, all coverages will
continue to be in force and the premiums will be deducted from the Fund Value by cancellation of
units at the applicable NAV till the Fund Value attains a Surrender Value of Rs. 50,000/. When the
Fund Value attains a Surrender Value of Rs. 50,000/-, the policy will be terminated and the
Surrender Value will be paid out.

At the end of the five year period we will give the policyholder an option to continue the policy and
start paying due premiums by the scheduled premium due dates. If the policyholder does not opt to
continue the policy, the policy will be terminated and the Surrender Value paid out.
In case the policyholder opts to continue the policy, he has to pay the next due premium by the
premium due date.

n) Free Look Period

You have a period of 15 days from the date of receipt of the policy document to review the terms
and conditions of the policy and if you disagree to any of these terms or conditions, you have the
option to return the policy and the premiums and market value of invested contributions will be
refunded after proportionate deductions for Life Insurance Coverage during the period.

Terms Defined

Group denotes the group of employees covered under the plan.

Group Fund means the total accumulated assets under fund management.

Fund Value means and includes the number of units in the various chosen funds at any given time
purchased with the contributions made by the Policyholder.

Beneficiary is the person nominated by the Member to receive benefits in the event of death of the
Member
4. Credit Guard Plan
It covers the following:-

Benefits

Guidelines

The Credit Guard Plan has a clear objective. It secures your risk by protecting your most valuable
business asset - The People: The borrower. The plan provides Life Cover for a group to hedge your
credit risk. It secures your risk by protecting your most valuable business asset

The People: The borrower. The plan provides Life Cover for a group of borrowers. Thus, providing
zero credit risk in the event of any unforeseen tragedy or in case of death of the borrower.

Credit Guard Life Cover can be more or equivalent to the amount of outstanding credit on the
borrower. The cover amount for each coverage year will decrease in tandem with the outstanding
loan.

Benefits

To the Leading Institutions

• In case of the unforeseen tragedy of death of the member, the Coverage Amount applicable
for that particular year will be payable to the lending institution.

• As a unique offering, Credit Guard offers "life cover with simple health declaration" for a
certain sum. This sum is based on group demographics. Need based medical tests are
suggested, for borrowings above this sum.

• You may select any term or any premium-paying mode for the plan.

• New members / borrowers can be admitted to the plan on every monthly processing date up
on the premium payment.

• Option of additional insurance cover with benefit equal to the future service provident fund.
• As a special privilege for a single premium pay mode,a certain percentage of the un-expired
premium shall be refunded in case of pre-payment of the entire loan amount.

Joint Life Cover Benefits

• As a unique feature, we provide joint life coverage if there is more than one borrower in a
single loan. (E.g. "husband-wife", "siblings" or "parent-child")

• The Coverage Amount on joint lives will be equivalent of the outstanding loan amount.

• For Joint Life cover the premium amount normally is lesser than sum total of single cover
premium for each life.

Benefits for the Member

• Ideal protection for the family from financial debt, in case of unforeseen tragedy.

• Cost effective and convenient way to obtain insurance and loan together.

Guidelines

1. Group Size

Minimum size of the group at inception will be 50. Only members who have some outstanding loan
with the financial institution are eligible for membership.

2. Eligibility

The members should be between 18 to 60 years at entry. The maximum maturity age is 65. The
definition of age is age as per the last birthday. sector companies.

3.Coverage Amount

The minimum loan amount to be covered will be Rs 50,000/ for personal/ auto/ education loan or
Rs. 100,000/- for home loan and the maximum will be Rs 1,00,00,000/-. The Coverage Amount
payable on the happening of the insured event i.e. death depends on the Coverage Year during which
the death occurs. The Coverage Amount decreases from year to year and as per the schedule
prepared by BSLI. The schedule provides the capital outstanding loan at the beginning of each
Coverage Year for different interest rates and loan terms. The coverage for any member is extended
subject to acceptance of risk by BSLI after necessary underwriting. The cost of underwriting should
be borne by the client.
4. Joint Life Cover
Entire Coverage Amount is payable on first death was several years after the Malhotra Committee
and coverage ceases thereafter.

5.Termination of the Plan

The Credit Guard Plan can be terminated only by the policyholder. When the policyholder decides
to terminate the plan, he has two options: . The plan will continue for the existing members and no
new members will be admitted. The plan will be discontinued for both the existing and the new
members and the premiums will not be refunded.

6. Exclusion

No benefit will be paid on death due to suicide in the first year of coverage.

7. Terms

Policyholder: The lending /financial institution.Members: Borrowers.

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.
Single Premium Group Term Plan

Benefits

The Plan

In the sea of companies that make up today's business world, it can be challenging to be different.
What can mark you different is the benefit plan you offer to your customers. At Birla SunLife
Insurance, we understand the importance of value addition in various offering – including products,
employee benefits and commissions. One of the ways to add value is to provide life insurance to
these interested groups such as customers, employees, agents and dealers.

The low cost and minimum fuss method of providing life insurance cover to such groups is through
term insurance with single premium payment.

Benefits

Benefits to an Organization

• The Program benefits an organization by permitting it to offer valuable protection at a


reasonable cost. By offering Birla Sun Life Single Premium Group Term Insurance Plan, an
organization can

• Provide financial security to the employees and their families.Attract and retain high caliber
employees (for employer – employee groups).

• Provide value addition to customers for competitive benefit

• Get advantage of a tax exemption benefits on business expense on any premium payments it
makes.

Benefits to Employee / Customer


• Get the benefit of no-cost, base level protection with supplemental coverage.

• Get tax benefit incase of contributions made towards the premium.

The Plan
Who is the plan for?

It is designed for organizations which wish to provide life insurance to employees/ customers at a
low cost.

What are the exclusions from the cover?


General Exclusion – If the member dies within one year from the commencement of the policy or
from the date of reinstatement of the policy, the cause of death being suicide, the company will not
pay the face amount mentioned above.

How does the policy work?

The organization would apply to Birla Sun Life for a group insurance policy to cover its employees /
customers.The organization has the liberty to choose the cover for each member The premium
would be paid in a single payment.

How is the underwriting done ?

Prima facie medical examination would not be insisted however, health data could be collected at
the time of offer. In case of any adverse details being found in the health data, medical tests may be
insisted upon. Birla Sun Life reserves the right to refuse coverage in case of an individual not found
medically fit for insurance as per its underwriting guidelines.

Need more information?

At Birla Sun Life Insurance, we place a strong emphasis on long – term relationship. With a high
score of loyalty towards a client, backed by a strong team of client service support we are committed
to deliver what we promised.

Also for your convenience, all the necessary information and forms are available on the web site
www.birlasunlife.com.
INDIVIDUAL

PROTECTION
1. BIRLA SUN LIFE TERM PLAN
2. PREMIUN BACK TERM PLAN

SAVING PLAN
1. BIRLA SUN LIFE INSAURANCE SARAL JEVAN
2. BIRLA SUN LIFE GOLD-PLUS
3. SUPREME LIFE
4. PRIME LIFE
5. LIFE COMPANION
6. FLEXI CASH FLOW
7. FLEXI SAVE PLUS
8. FLEXI LIFE LINE
9. SINGLE PREMIUM BOND

RETIREMENT PLANS
FLEXI SECURE LIFE RETIREMENT PLAN

CHILDREN’S PLAN
CHILDREN’S DREAM PLAN
PROTECTION PLANS

1. BIRLA SUN LIFE TERM PLAN


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.
Term Plan

Entry age
18-55 yearsMinimum Face Amount Rs.2,50,000 in case of single premium & Rs.2,00,000 in
(Sum Assured) 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 Face Amount
death of the life insured
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)

PREMIUN BACK TERM PLAN


UNIQUE FEATURES

• You get insurance cover throughout the term of the plan at a reasonable cost.
• On maturity, the total premiums paid over the term, will be paid back to you.
• You have the option to choose from two versions of our plan -100% Premium Back (PB) or
125% Premium Back (PB)*.
• In the event of death, the coverage face amount along with the premiums paid till date will
be paid back to your nominee.
Benefits
100%PB 125%PB
Coverage Face Amount + Coverage Face Amount +
Death
100% PB (Paid till date) 100% (PB) (Paid till date)
Maturity 100%PB 125%PB

THE PLAN

• Minimum Coverage Face Amount


The minimum coverage face amount of the plan is Rs.2,00,000/-
• Term (benefit period) of the Premium Back Term Plan
The benefit periods available for the 100% Premium Back (PB) plan are 10, 15 and 20 years.
The benefit periods available for the 125% Premium Back (PB) plan are 15 and 20 years
• Minimum Age at entry
To purchase this plan, you should be 18 years or above of age
• Maximum Age at entry
You should not be more than 50 years of age for the 20 year term plan and 55 years for the 10 and 15 years term plan.
• Maximum Age at Maturity
The maximum maturity age is 70 years
• Surrender Value
The surrender value is available and it varies with the payment term as well as the policy
year in which the plan is surrendered.
• Tax Benefits
As per the current laws, the benefit paid under the policy are entirely tax free under section
10 (10 D) and the premium paid by you also enjoy the tax benefit under section 80 C of the
Income Tax Act, 1961
• Premium paying period
The premium paying period is throughout the benefit period.
• Premium paying frequency
You could pay the premium on an annual, semi-annual, quarterly or monthly basis.

You can avail of the Electronic Clearing Service (ECS) for paying your premiums. It is a very
convenient method of paying your premiums through an electronic debit to your bank account.

All the premiums paid back on Maturity or at death exclude any rider/extra premiums paid.

The Birla Sun Life Flexi SecureLife II- Retirement Plan is a Unit-linked non-participating plan. The
plan is designed in two phases; the build up or the Accumulation phase and the Annuity or the
payout phase.
In the Accumulation phase you make regular contributions to build your nest egg on retirem You
can utilise this amount to buy an annuity (Annuity phase), which can take care of your needs post
retirement.
ENTRY AGE
The minimum age at entry should be 18 years and the maximum age for entry is 65 years.

LIFE INSAURANCE COVER

You can opt for a life insurance cover in your Retirement Plan till the vesting age. The minimum
Sum Assured for the life insurance cover will be Rs. 55,000 under the Single Premium Plan and Rs.
50,000 under the Regular Premium Plan. For the Single Premium Plan, the Sum Assured will always
be 110 percent of the single premium (rounded off to the nearest thousand rupees). For the Regular
Premium Plan, the Sum Assured will always be 10 times of the regular premium paid.

PREMIUM PAYMENT

In the accumulation phase, the minimum amounts are Rs. 50,000 under the Single Premium Plan

and Rs. 5,000 under the Regular Premium Plan. In both the plans you can top up your fund with

additional amounts whenever you have additional savings. However, the minimum amount of such

top ups is Rs. 10,000. Only amount paid in excess of the Annual premium in any

policy year will be considered as a top up amount.

CHOICE OF INVESTMENT FUND OPTIONS:- You can choose from three Investment Fund
options depending on your risk profile during the accumulation phase of your plan. The three
investment fund options are: Nourish, Growth, Enrich.
If you wish to diversify your risk, you can choose to allocate your premium in varying proportions
amongst the available Investment Fund Options. You can switch between the Investment Fund
Options or change the Premium Allocation Percentage into the various Investment Fund Options
anytime during the tenure of the policy.
In a year two switches and two changes in Premium Allocation Percentage (using Premium
Redirection facility) will be free.
Minimum & Maximum Limits of Percentage of
Nourish Growth Enrich
Assets in:
Government Securities and Government Approved
30%-85% 25%-90% 20%-70%
Securities
Corporate Bond rated AA or above 0%-30% 0%-30% 10%-30%
Money Market and Other Liquid Assets 0%-20% 0%-20% 0%-20%
Infrastructure Sector as defined by the IRDA 0%-25% 0%-25% 0%-25%
Listed Equities 0%- 10% 10%- 20% 20%-35%

You can select the Investment Fund Options based on your risk preference and switch between the
Investment Funds based on market performance.

BENEFITS OF THE PLAN

ANNUITY PHASE:- Choose your Plan Benefits

On the date of vesting, you can either:

• Withdraw one third of the policy fund as a lump sum and utilise the remaining portion of the
fund to purchase any annuity provided by us then and at the then prevailing rates or buy an
annuity from any other Annuity Provider in the market; or
• Utilise the entire policy fund to purchase any annuity provided by us then and at the then
prevailing rates or buy an annuity from any other Annuity Provider in the market.

DEATH BENEFIT

1) Upon the death of the Life Insured under a Single Premium Policy which provides a Life
Insurance Coverage, we will pay to the Claimant the higher of:
The Policy Fund Value; or
The Life Insurance Coverage Sum Assured (which is always 110 percent of the Single
Premium excluding any Rider or underwriting extra premium or top-up Premium (rounded
off to the nearest thousand rupees).
2) Upon the death of the Life Insured under a Regular Premium Policy which provides a Life
Insurance Coverage and the same being in effect, we will pay to the Claimant the higher of:
The Policy Fund Value; or
The Life Insurance Coverage Sum Assured (which is always 10 times of the Regular
Premium excluding any RidUer or underwriting extra premium or top-up Premium).
RETIREMENT PLANS

FLEXI SECURELIFE RETIREMENT PLAN II


THE PLAN
NRI POLICIES
Prime Life Premier

In this policy, the investment risk in investment portfolio is borne by the policyholder

Highlights

• Hassle free one time investment with top up option.


• Guaranteed additions at regular intervals.
• Choice of 6 Investment Fund Options.

Benefits

• The plan is a unit linked non participating plan


• It offers a choice of six Investment Fund Options to choose from depending on your risk
profile and the flexibility to allocate the premiums (including top ups) in varying proportions
into the different funds.
• A one time premium payment with the option to top up your Investment Fund whenever you
have additional savings
• Guaranteed Addition in the form of additional units added to the Fund Value at the end of 10
years and every 5 years thereafter
• High liquidity in the form of partial withdrawals and surrender benefits
• Death benefits which are favorable at all times to the customer (higher of Sum Assured or
Fund Value)*

The Plan

PrimeLife Premier

Entry Ages
30 days - 65yrsMaturity
70yrs
Age
Premium Term Single premium
Minimum Duration 5yrs
Minimum Premium Rs. 50,000
“5” times of the Life Insurance premium. Minimum Sum
Sum Assured
Assured will be Rs.2,50,000
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.10,000. The maximum amount of top up premium in
any Policy Year will be the policy premium or Rs.5,00,000
whichever is lower. The life insurance coverage will increase if
the cumulative top ups exceed 25% of the single premium
amount. The additional Sum Assured will be 125% of the excess
Top-ups
top up premium and is subject to the prevailing administrative
and underwriting rules of the company.

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 except the top up premiums paid in the last
three years of the policy tenure.
Investment Fund Options Assure, Protector, Builder, Enhancer, Creator & Magnifier and
Maximiser.
Higher of 'Fund Value' or 'Sum Assured' less all applicable
Partial Withdrawals in the 24 months preceding the death of the
Amount due to nominee in life insured. In the event of death of the life insured, till the age
event of of five only Fund value is paid. In case of death at the age of 60
death of life insured or above, the Sum assured will be reduced by the applicable
Partial Withdrawals made since the life insured attained the age
of 58.
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.
Maturity benefits Fund Value
Guaranteed additions in the form of additional units will be
added to the Fund Value at the end of the 10th policy year and
every 5yrs thereafter while your policy is in effect.
Guaranteed benefits
The additional units will be equivalent to 2% of the average
Fund Value at the preceding sixty monthly policy dates.
Partial Withdrawals Partial Withdrawals can be made after three Policy Years or
when the Life Insured attains 18 Years of age whichever is later.
You can make two Partial Withdrawals free of charge in every
policy year.
The minimum Partial Withdrawal amount is Rs.25,000. The
maximum Partial Withdrawal amount in a Policy Year is any
amount subject to the Policy having a balance Fund Value of
Rs.25,000 and Surrender Charges applicable in the year of
Partial Withdrawal or the sum of Top Up premiums made, if any,
in the preceding three years, whichever is higher.
Switch between You can switch between Investment Fund anytime during the
Investment Funds Policy term. In a year two switches are free. Any additional
switch will be charged at a nominal rate.
Accidental Death & Dismemberment, Critical illness, Critical
Riders available
Illness for Women & Term Rider.
You can avail of tax benefits under Sec 80C and Sec 10(10 D) of
the Income Tax Act 1961, and under Sec 80 D on premiums paid
Tax Benefits
towards Critical Illness Rider.
For specific suitability consult your tax advisor.

Policy Charges

The Premium Allocation Charge is recovered as a percentage of the Life Insurance Coverage
Premium and will be equal to 3.5% of the life insurance coverage premium. The premium allocation
charge on Top up and any underwriting extra is 2 percent. There is no Premium Allocation Charge
on Rider Coverage Premiums.
Prime Life
In this policy, the investment risk in investment portfolio is borne by the policyholder.

Highlights

• Hassle free one time investment with top up option.


• Guaranteed additions at regular intervals.
• Choice of 6 Investment Fund Options.

Unique Benefits
• The plan is a unit linked non participating plan.
• The plan offers a choice of six Investment Fund Options to choose from depending on your
risk profile and the flexibility to switch between Funds twice a year without any additional
cost.
• A one-time premium payment with the option to top up your Fund Value whenever you have
additional savings.
• Guaranteed Addition in the form of additional units added to the Fund Value at the end of 10
years and every 5 years thereafter.
• High liquidity in the form of partial withdrawals and surrender benefits
• Death benefits which are favorable at all times to the customer (higher of Sum Assured or
Fund Value)*


The Plan
Particulars Detailed Benefits of PrimeLife
Entry Age 30 days - 60 years
Max. Maturity Age 100 yrs
Minimum Duration 40 years
Premium Term Single Pay
Minimum Premium Rs.20,000
150% of the single premium amount, minimum Sum Assured
Sum Assured
will be Rs.30,000
Top-ups Whenever you have additional savings during the tenure of the
policy, you can top up the Investment Fund. The minimum
amount of top ups will be Rs. 10,000. The maximum amount
of Top Up Premium in any Policy Year will be the Policy
Premium or Rs. 5,00, 000 whichever is lower. The life
insurance coverage will increase if the cumulative top up paid
till date exceeds 25% of the single premium amount. The
additional Sum Assured will be 125% of the excess top up
premium and is subject to the prevailing administrative and
underwriting rules of the company. 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
except the top up premiums paid in the last three years of the
policy tenure.
Assure, Protector, Builder, Enhancer, Creator and Magnifier
Investment Fund Options
and Maximiser.
Higher of 'Fund Value' or 'Sum Assured' less all applicable
Partial Withdrawals in the 24 months preceding the death of
the life insured. In the event of death of the Insured, till the
Amount due to nominee in event
age of five only Fund value is paid. In case of death at the age
of death of the life insured
of 60 yrs or above, the Sum assured will be reduced by the
applicable Partial Withdrawals made since the life insured
attained the age of 58.
On Maturity Fund Value
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.
Guaranteed Benefits Guaranteed additions in the form of additional units will be
added to the Fund Value at the end of 10th Policy year and
every 5 years thereafter while your policy is in effect.

The guaranteed additional units will be equivalent to 2% of


the average Fund Value at the preceding sixty monthly policy
dates.
Partial Withdrawal Partial withdrawals can be made anytime after three Policy
Years or when the Life Insured attains 18 years of age ,
whichever is later. The minimum Partial Withdrawal amount
is Rs.10,000. The maximum amount of Partial Withdrawal is
any amount subject to the condition that the minimum Fund
Value is Rs.25,000 and Surrender Charges applicable in the
year of Partial Withdrawal or the sum of Top Up Premiums
made, if any, in the preceding 3 years, whichever is higher.
Switch between Investment You can switch between Investment Funds anytime during the
Funds Policy term. In a year two switches are free*

Policy Charges

The Premium Allocation Charge is levied as a percentage of the Life Insurance Coverage Premium
and will be equal to 3.5%. The Premium Allocation Charge on top ups and any under writing extra
is 2%. In addition to the above Premium Allocation Charge, the following Policy Charges will be
recovered from the Fund Value.

Tax Benefits

You can avail of tax benefits under section 80C of the Income Tax Act 1961 on the premium paid
upto 20% of the Capital Sum Assured (maximum of Rs 1,00,000). Since this is a single premium
policy the tax benefit will be reversed incase the policy is terminated before completion of 2 years of
commencement. Please consult your tax advisor for specific suitability
Life Companion Money back
In this policy, the investment risk in investment portfolio is borne by the policyholder

Highlights
• Fixed amounts paid out at regular intervals
• Guaranteed additions on maturity
• Additional accident benefit

The Plan
Who can apply for the Life Companion Money Back Plan?

Any person, male or female, in the age group of 30 days to 59 years is eligible to applying for the
Life Companion Money Back plan

Who should buy the plan?

The plan is ideally suited for any person looking for a life insurance protection and regular savings
for meeting the milestone needs. The plan protects those who depend on your earnings, such as your
spouse, children and quite possibly, your parents. If any unfortunate event were to take place
prematurely, the plan can provide emergency support for their life's needs such as education,
marriage and medical costs.

What are the various durations for which this plan is available?
The plan is available for the durations of 16 years, 20 years, 24 years and 30 years:

30 days (14 years for 16, 20 and 24 year terms) - 59 yrs age at last birthday for
Entry Ages
all durations.
Maximum
75 years
Maturity Age
Minimum Life
Rs. 75, 000
Insurance Cover
Maximum Life No Limit.
Insurance Cover Maximum Accidental Death: Rs. 10 lacs
Duration of the
16, 20, 24 and 30 years
Plan
Premium Throughout the term except in the case of plan with duration of 30 years where
Payment Period the payment period will be 20 years
Premium Paying
Annual, Semi annual, Monthly (through ECS only)
Frequency
Premium Paying
Cash (upto Rs. 20,000), Credit Card, Salary Deduction, ECS, Direct Debit etc.
Mode
Policy Payouts Regular Benefits are payable every 4 years in the 16, 20 & 24 yrs duration
during the term plans. In case of the 30 yrs duration, the benefits will be an amount equal to 5%
of the Policy of Sum Assured paid every year from 21st year till the 29th year.

Benefits
The plan offers excellent benefits under each option. The benefits are as detailed below:

Policy Benefits Details


Fixed amounts at regular intervals depending on the duration
Survival Benefits
and shown in the payout table
Amount shown in payout schedule or the Fund Value
Maturity Benefits
whichever is higher (subject to conditions)
Sum Assured + Fund Value on the date of death (Fund Value is
Death Benefits *
payable if death takes place below 5 yrs of age)
Between the ages 18 and 65 an amount equal to the Sum
Additional Benefits in case
Assured upto a maximum of Rs. 10 lakhs across all
of death due to accident
LifeCompanion Money Back policies
Rider Waiver of Premium Rider available.
Free Look Period 15 days after receipt of the Policy Document
Under Section 80C and Section 10(10D) of the Income Tax Act
Tax Benefits $
of 1961
An additional 5% of the Fund Value as Guaranteed Additions
Guaranteed Additions
on maturity.

Policy Charges
The Premium Allocation Charge is a charge recovered as a percentage of the Annual Premium and
varies as per the Policy Year as given under:

Policy Year Premium Allocation Charge


1 65%
2 20%
3 20%
4 15%
5 15%
6+ 0%

The Premium Allocation Charge on Underwriting Extra (if any) is 2.0%. There is no Premium
Allocation Charge on Rider Coverage Premiums

In addition to the above Premium Allocation Charge, the following Charges will be recovered from
the Fund Value.

The Mortality Charge of the Life Insurance Coverage will be deducted by cancellation of Units on a
monthly basis ,at the prevailing NAV. The Mortality Charges per thousand of the Sum Assured for
sample ages are as follows:

Age 20 30 40 50
Male 1.016 1.171 2.150 5.532
Female 0.896 1.163 1.657 4.030
Life Companion Endowment
In this policy, the investment risk in investment portfolio is borne by the policyholder

Highlights
• Guaranteed maturity benefits*
• Death benefits of Sum Assured and Fund Value
• 5% Guaranteed additions*
• Inbuilt Accidental death benefit.

The Plan

Any person, male or female, in the age group as specified in the table is eligible to apply for the Life
Companion Endowment plan.

Particulars
Endowment Plan
Entry Ages 30 days (3 years for the 15 year term) - 60 yrs age at last
birthday, for all durations except “To age 60” plan where
maximum entry age is 40 yrs.
Maximum Maturity Age 75 years
Minimum Life Insurance Cover Rs. 75, 000
Maximum Life Insurance Cover No Limit
Maximum Accidental Death
Rs. 10 lacs
Benefit
Duration of the Plan 15, 20, 25, 30 years or “To age 60”.
Premium Payment Period 20 years in case of “To age 60” and throughout the term of the
policy for other durations
Premium Payment Frequency Annual, Semi annual, Monthly (through ECS only)
Premium Payment Mode Cash (upto Rs. 20,000), Cheque, Credit Card, Salary
Deduction, ECS, Direct Debit etc.
Benefits
The plan offers excellent benefits, which are as detailed below:
Policy Benefits Details
Maturity Benefits Higher of Sum Assured or Fund Value (subject to conditions)
Death Benefits* Sum Assured + Fund Value on the date of death
Between the ages 18 and 65 an amount equal to the Sum Assured
Additional Benefits in case of
upto a maximum of Rs. 10 lakhs across all LifeCompanion
death due to accident
Endowment policies
Rider Waiver of Premium Rider available.
Free Look Period 15days after receipt of the Policy Document
Under Section 80C and Section 10(10D) of the Income Tax Act
Tax Benefits$
of 1961
An additional 5% of the Fund Value as Guaranteed Additions on
Guaranteed Additions
maturity.

Policy Charges

What are the Policy Charges?

The Premium Allocation charge is an up-front charge recovered as a percentage of the Life
Insurance Coverage Premium that you pay and varies as per the Policy Year as given under:

Policy Year % of Life Insurance Coverage Premium


1 65%
2 20%
3 20%
4 15%
5 15%
6+ 0%
Flexi Life Line Plan
In this policy, the investment risk in investment portfolio is borne by the policyholder.

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

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/ A minimum guaranteed return of 3% p.a. applies on premiums
Guaranteed Funds 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 Higher of ‘Fund value’ or ‘Guaranteed Fund’ or ‘Sum Assured’
of death of the life insured 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 **
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%

Flexi Save Plus


In this policy, the investment risk in investment portfolio is borne by the policyholder

Highlights
• Benefits of compounding over the long term.
• Choice of maturity ages.
• Guaranteed return of 3% net of policy charges.
• Choice of 3 investment fund options.

Unique Features
• The plan is a unit linked non participating plan giving you efficient earnings in the long term.

• 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 Withdrawals ** from your Fund Value, any time after three
years

• Surrender of the policy without penalty any time after 4 policy years

• Increase the Sum Assured during the premium paying period depending on your
requirements

• Convenient premium payment options: Single, Short or Regular Premium Paying Period.

The Plan

Flexi Save Plus Plan


Entry Age 30 days - 60 years
Maximum Maturity
70 years
Age
Durations As per policy term - 10,15,20,25 or 30 yrs or as per maturity age:
To age 20,25,30,35 yrs for minors and 60,65,70 yrs for majors.
Minimum Duration 6yrs for To age variant for minors and 10yrs for all other options.
35yrs for To age variant for minors, 52yrs for To age variant for majors
Maximum Duration
and 30yrs for all other options.
Minimum Sum Assured Rs. 2,00,000 for To age 70 years and Rs.1,00,000 for all other terms.
10, 15, 20 years or Regular Premium Payment Period. In case of 25 years
Premium Paying Period
term, the premium payment period will be 20 years or regular or 15 years.
Premium Payment Single pay, Annually, Semi-annually, Quarterly (for annual premium more
Frequency than Rs.20,000 only), Monthly (through ECS only).
Premium Payment Cash (upto Rs. 20000), Cheque, Credit Card, Salary Deduction, ECS,
Mode 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.
A minimum guaranteed return of 3% p.a. applies on premiums and top-up
Guaranteed Returns/ premium, net of policy charges and survival benefits. This total will
Guaranteed Funds 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 Higher of 'Fund Value' or 'Guaranteed Fund' or 'Sum Assured’ less
in event of death of the applicable Partial Withdrawals in the 24 months preceding the death of the
life insured life insured.

Where the policy is brought 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.

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.
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. For the Single Pay option, the maximum limit on
Partial Withdrawal is any amount subject to the Policy having a Fund
Value equivalent to the Guaranteed Fund or Rs. 25000 and the Surrender
Charges applicable in the year of the Partial Withdrawal, whichever is
higher.
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 Benefits
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 Sec 80C and Sec 10 (10D) of the Income Tax Act 1961**

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 under

Payment Period
Policy Year Single 6-9 pay 10 -14 pay 15-pay or greater
1 3% 29.9% 54.6% 65%
2 N/A 5.0% 7.5% 7.5%
3 N/A 5.0% 7.5% 7.5%
4+ N/A 5.0% 5.0% 5.0%
The Premium Allocation Charge for top up 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.

Flexi Cash Flow


In this policy, the investment risk in investment portfolio is borne by the policyholder.

Highlights

• Lump sum payment at regular intervals


• Tax free payment at important milestones in life.
• Guaranteed return of 3% net of policy charges.
• Choice of 3 investment fund options
Unique Features
• The plan is a unit linked non-participating plan to give you efficient returns.

• Tax free lump sum pay-outs, to take care of recurring needs.

• 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 Withdrawals**from your Fund Value anytime after three
years

• Surrender of the policy without penalty after 4 policy years

• Increase the Sum Assured during the premium paying period any time depending on your
needs

• Convenient premium payment options: Short or Regular Premium Payment Period.

The Plan

Flexi Cash Flow Plan


Entry Age 13 to 65 years of age
Maturity Age 75 years
Minimum Sum Assured Rs.1,00,000
Durations 10, 15, 20 or 25 years
Premium Paying Period 10, 15, 20 years or Regular Premium Payment Period. In case of
25 years term, the premium payment period will be 20 years or
regular or 15 years.
Annually, Semi-annually, Quarterly (for annual premium more
Premium Payment Frequency
than Rs.20,000 only), Monthly(through ECS only) .
Cash (upto Rs. 20,000), Cheque, Credit Card, Salary Deduction,
Premium Payment Mode
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 / A minimum guaranteed return of 3% p.a. applies on premiums
Guaranteed Funds 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.
Survival benefits / These benefits are payable at the end of every 5 policy years.
Regular Pay-outs The amount that will be available is the minimum of the
'Guaranteed Fund' at the time or the 'Percentage of the Sum
Assured' applicable for your policy. The percentages are as
under:
• 30% for policy with duration of 10 years
•25% for policy with duration of 15 years
•20% for policy with duration of 20 years
•15% for policy with duration of 25 years
Maturity Benefits The higher of the ‘Fund Value’ or the ‘Guaranteed Fund Value’
(based on 3% net returns)
Amount due to nominee in event Higher of ‘Fund Value’ or ‘Guaranteed Fund Value’ or Sum
Of death of the life insured Assured less all applicable Partial Withdrawals in the 24 months
preceding the death of the life insured.

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.

In case of death at the age of 60 years or above then the Sum


Assured will be reduced by the applicable Partial Withdrawals
made since the life insured attained the age of 58.
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 balance in the 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.
The policy can be surrendered any time during the tenure of the
policy. The surrender charges will be zero after the 4th policy
Surrender Benefits
year. In case of surrender in the first 3 policy years the benefits
will be paid out only after the 3rd policy year
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
Free Look Period
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 **

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 Pay 15-pay or greater
1 54.6% 65%
2 7.5% 7.5%
3 7.5% 7.5%
4+ 5.0% 5.0%
The Premium Allocation Charge for top up and on Underwriting Extra (if any) will be 2.0 percent.
The Premium Allocation Charge is guaranteed for the duration of the contract. There is no Premium
Allocation Charge on Rider Coverage Premium

Classic Life Premier

In this policy, the investment risk in investment portfolio is borne by the policyholder.

Highlights

• Guaranteed additions in the form of additional units


• Choice of tenure-10, 20, 30 years or whole life
• Choice of 6 Investment Fund Options

The Plan
What are the options available in the product?

 Entry Age

Minimum Entry Age : 30 days for 20 and 30 term, 8 years for the 10 term and 30 years
for Whole Life

Maximum Entry Age: For 10 yrs term - 60yrs


: For 20yrs term - 50yrs
: For 30yrs term - 40yrs
: For Whole Life - 60yrs

 Duration of the product

You have the option of taking the plan for 10 yrs, 20yrs, 30yrs or Whole Life.
Minimum Duration:10yrs
Maximum Duration: 70yrs
(Please note that Whole Life is assumed to be 100 yrs )

 Maturity age

70 yrs for the terms - 10, 20, 30 yrs


:100 yrs for Whole Life

Minimum Sum Assured: Rs. 2,00,000

 Premium Payment Term

The premium is payable for the payment term that you opt for. You have the following option to
choose from:
For 10 yrs term: 3yrs, 5yrs or regular Coverage Paying Period.
For 20 yrs, 30 yrs term and Whole Life: 5yrs, 10yrs or regular Coverage Paying Period.

What are the premiums that I need to pay and the various payment options?

 Premium Amount

The premium amount is entirely flexible subject to a minimum annual premium amount of Rs.
25,000 and minimum Sum Assured of Rs. 2,00,000.There is no limit for the maximum premium
amount.

Benefits

 Guaranteed Additions

Guaranteed Additions in the form of additional units will be added to the Fund Value on the 10th
policy anniversary and on every 5th policy anniversary thereafter while your policy is in effect. The
Guaranteed Addition will be 2% of your average Fund Value in the last 60 months. Your average
Fund Value in the last 60 months is equal to the sum of your Fund Value on the monthly date, after
monthly deductions, in the 60 policy months immediately preceding the Guaranteed Addition
calculation, all divided by 60.

 Partial Withdrawal Option

Partial Withdrawals can be made after three Policy Years or when the Life Insured attains maturity
(i.e. on or after attainment of age 18) whichever is later.
The minimum Partial Withdrawal amount is Rs.10, 000.

The maximum Partial Withdrawal amount in a Policy Year is any amount subject to the Policy
having a balance Fund Value of Rs. 25,000 plus Surrender Charges applicable in the year of Partial
Withdrawal and one Annual Policy Premium or top up premiums, if any, made in the last three years
whichever is higher.

 Surrender Benefit

The plan also offers you the flexibility of surrendering your policy if the need arises. There will be
no Surrender Charge on policies surrendered after six completed policy years, which means that the
entire Fund Value is payable to you in case you surrender the policy anytime after six policy years
till maturity.

However, if the Policy is surrendered within three years from inception, then the Surrender Value
will be paid to you after the completion of the third Policy anniversary.

 Death Benefits

Below 5 yrs: If the death of the Life Insured takes place before the commencement of the Policy
Anniversary, coinciding with or immediately following the date when the Life Insured attains the
age of five, only the Fund Value shall be payable to the Policy Owner. This is not applicable for the
wholelife option.

Between 5 yrs and 60 yrs: Higher of the Fund Value or The Sum Assured less all applicable Partial
Withdrawals made in the last 24 months preceding the death of the Life Insured.

60 yrs and above: Higher of the Fund Value or Sum Assured less all applicable Partial Withdrawals
made since the Life Insured attained the age of 58.

 Maturity Benefits

On maturity of the policy, the Fund Value is payable.

Under the Whole Life option, on maturity of the policy when the Life Insured attains age 100, the
Fund Value is payable and the Policy will be terminated.
 Tax Benefits

Tax benefit on premium payment is governed by Section 80C of the Income Tax Act, 1961. Tax
exemption on the amounts received by you on maturity or by the beneficiary in the unfortunate
event of death and the withdrawals are governed by section 10(10D) of the Income tax Act, 1961.

Single Premium Bond


In this policy, the investment risk in investment portfolio is borne by the policyholder.

Highlights

• Hassle free one time investment.


• No medical requirements
• Facility of high entry age.
• Choice of tenure- 5 yrs & 10 yrs
• Choice of 3 Investment Fund Options (in the 10 year plan).

What is the Plan About?

'SINGLE PREMIUM BOND' is a unit-linked non-participating investment oriented insurance plan


wherein you pay a single premium and the policy pays a lump sum at maturity. It is the ideal plan
for you if you have received a large amount/bonus or have a surplus and are in search of an avenue
to invest your money. This plan is available for two tenures of 5 and 10 years. In the case of the 10-
year plan, you have a choice between three Investment Fund Options with different investment
patterns - Protector, Builder and Enhancer. This gives you the option to invest your money in a fund
based on your risk profile. In the 5 year plan the Investment Fund Option available is only Protector.
You can switch between the Investment Fund Options during the term of the policy ensuring that
your money works harder andprovides you with more efficient returns.

Single Premium Bond


Entry Age 13 years for the 5 year term, 8 years for the 10 year term - 70 years
Maximum Maturity Age 75 or 80 years depending on the benefit term chosen
Benefit terms available 5 years and 10 years
Minimum Duration of
5 years
plan
Minimum premium
Rs. 20,000
amount
125% of the single premium amount; minimum sum assured will be Rs.
Sum Assured
25000

Benefits
a) You get dual benefits :
'SINGLE PREMIUM BOND' caters to the twin needs of Life Insurance and Investment. The
premium contribution in the plan is guaranteed on maturity.

b) There are no medical requirements :


You don't require any medical test to buy this plan

c) It's so convenient:
Simple documention
Simple one time payment saves you the hassle of regular investments.

d)You have the option of 3 Investment Funds (in the 10 year plan):
Three Investment Fund Options are available under the 10 year plan. You can allocate your
premiums in varying ratios between these 3 Funds. You also have the choice of switching between
the various Funds twice a year free of cost. For the 5 yr plan the Investment Fund available is
Protector.

e) Maturity Benefits :
The maturity benefit would depend upon the contribution made, and the term of the policy decided
by you. On maturity the higher of the Fund Value or the policy premium will be payable to you.

f) Death Benefit :
In case of the unfortunate death of the life insured, Fund Value or 125% of the single premium (Sum
Assured), whichever is higher, is payable to the policyholder’s nominee. Let us take an example:
A male aged 25 years buys this plan for a premium amount of Rs 50,000.The benefit period is 10
years. The death benefit for this plan would be higher of the Fund Value or 125% of 50,000 that is
Rs.62, 500.

g) Surrender Benefit :
The policy can be surrendered any time after 3 policy years without any charges. The amount
payable will be the Fund Value.

What are the Charges?

A Premium Allocation Charge of 2.5% of the single premium will be deducted from the premium
you pay.

Mortality Charge: Charges towards mortality will be deducted by cancellation of units on a monthly
basis at the prevailing NAV.

The annual Mortality rates per thousand Sum At Risk are as follows:

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
SimplyLife
In This Policy, The Investment Risk In Investment Portfolio Is Borne By The Policyholder

Highlights

• Contribution guarantee
• Market related returns
• Increasing death benefit
• Tax benefits under section 80 C and sec 10(10D)

The Plan
SimplyLife
Entry Ages 8 years - 50 years age as on last birthday
Maximum Maturity Age 60 years
Duration of the Plan 10 years
Minimum Annual Premium Rs. 10,000
Maximum Annual Premium Rs. 1,00,000
Payment Frequency Monthly (ECS), Quarterly, Semi Annually & Annually
Maturity Benefit The higher of the Fund Value or the aggregate of all the premiums
paid subject to following conditions
• All Premiums are paid; and
• Each premium is paid on or before the expiry of a period of 60
days from the due date
Face Amount 5 times the annual premium amount
Investment Fund Choice of two investment funds – Balancer and Enhancer
Death Benefit Upon the death of the Life Insured we will pay to the Nominee or
the Policy Owner as the case may be an amount equal to the total of
the Sum Assured and the Fund Value
Surrender option Any time during the tenure of the policy. There are no surrender
charges from the 7th policy year onwards. However if the policy is
surrendered in the first 3 years the surrender value will be paid out
after the third policy year
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
Free Look Period 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.
Under Sec 80(C) and Sec 10(10D) of the Income Tax act
Tax Benefit
1961*(Please consult your tax advisor for specific suitability)

Policy Charges
The Premium Allocation Charges (PAC) are deducted as a percentage of the premium that you pay
in your policy as depicted in the table below:

Policy Year Premium Allocation Charge


1 27.5%
2 5.0%
3 5.0%
4 5.0%
5 5.0%
Thereafter 2.2%
SWOT ANALYSIS:-
STRENGTHS:-

 Company has received the rating for Superior capital position, Strong operating performance,
Strong market position. Only company to develop significant International operations, long record
of successful trading outside India.

 Large number of policies covering the risk of each and every aspect of life.

 Reasonable criteria for claiming and the premium amount is also reasonable.

WEAKNESS:-

 Policies not covering the rural sector and semi urban society.

 Small number of offices in abroad.

OPPORTUNITIES:-

• Try to capture the rural and semi urban sector.


• Make collaboration with the foreign players for tapping the market in abroad as well as in
India.

Threats:-

• Competition from other participants.


CONCLUSION:-
In the conclusion it can be said that the Kotak Old Mutual Life Insurance deserves a special position
in the life insurance sector. The various policies provided by the company reduces the risk exposure
of different segment of the society. The company should make collaborations with the foreign
players in order to increase its global presence.

In the project the different policy of the company have been studied in order to know about the
different criteria for the pension amount, how to claim, what are the benefits, what are the added risk
covered by the policy etc. The criteria for claiming and the premium amount is very reasonable so
even a lay man can take the policy very easily.

The company should try to tap the rural and the semi urban sector as it is lacking on in this sphere. It
has to come up with new policies and the strategies in order to compete with the new emerging
private players.

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