Birla Sun Life Group Unit Linked Plan

This group plan has the following salient features -

Benefits and Advantages of Group Unit Linked Plan

This plan from Birla Sun Life utilizes different investment funds in order to aid in the growth of wealth and can be opted for by employers to aid in the management of gratuity benefits of employees. Life cover provided by this policy for the group members throughout the policy term is an added benefit. The key advantages in opting for this plan can be mentioned in the following points -

• Life cover is present throughout the policy term
• Indefinite policy term through an annual automatic renewing cycle
• Applicable tax benefits can be availed as per the prevailing tax laws
• Multiple fund options and switches allowed

The key benefits under this policy can be explained as below -

• Maturity/Vesting Benefit - This amount is made available to the group member upon retirement or resignation
• Death Benefit - In case of the death of the group member, Death Benefit will be payable to the nominee
• Surrender Benefit - As a group policy, this plan’s surrender benefits are only applicable for the master policyholder and will be equal to the fund value at the time of the surrender less the surrender charges as decided by the insurer
• Tax Benefit - As per the prevalent tax rules, tax benefits might be applicable for this plan with reference to the master policyholder

Investment of Funds under Birla Sun Life Group Unit Linked Plan

This unit-linked plan from Birla Sun Life comes with four fund options that offer a variable mix of risk and return. The premiums for the fund options are through employer and trustee contributions, and continue throughout the term of the policy. The details about such funds have been mentioned in the table below -

GST of 18% is applicable on life insurance effective from the 1st of July, 2017