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  • BSLI Wealth Assure Plan

    Birla Sun Life Insurance

    Birla Sun Life Wealth Assure Plan is insurance cum insurance plan that gives you protection for unfortunate times as well as assured growth for your money. This plan offers steady growth of you finances along with peace of mind that follows the fact that your family will be well provided for even when you aren't around.

    BSLI Wealth Assure is a non-participating unit-linked insurance plan and is thus subject to market risks since the returns on investment will depend upon the market movement. Also, any past performance of this scheme, good or bad, does not reflect on how the insurance scheme will perform in future.

    Eligibility Criteria for BSLI Wealth Assure Plan:

    Listed below are the minimum and maximum entry age for the BSLI Wealth Assure Plan

    Age at entry

    8 to 65 years of age

    Maximum Maturity Age

    75 years

    Key Features of BSLI Wealth Assure Plan

    The table below depicts the key features of the BSLI Wealth Assure Plan.

    Plan type

    Non-Participating unit-linked plan.

    Plan basis

    Individual

    Premium paying terms

    5 Pay

    Policy term

    10,15,20,25,30 years

    Premium payment Mode

    Monthly and yearly



    Grace period

    30 days from the expected date of payment of premium

    Free Look Period

    15 days from the date of availing the policy



    Policy revival

    Birla Sun Life Wealth Assure Plan can be revived with full benefits, within 2 years from the date of the first unpaid premium.

    Nomination

    Nomination facility is available under section 39 of the Insurance Act, 1938

    Sum Assured

    Sum assured is dependent upon the basic premium paid by you which in turn depends upon your insurance needs.

    Policy coverage

    Death benefits and maturity benefits.

    Death Benefits: In case of death of policyholder, two options A and B are there which the policyholder needs to choose at the time of availing the policy.

    Option A: Guaranteed death benefit plus no premium payment required to be paid in future plus guaranteed maturity benefit at the time of maturity

    Option B: Guaranteed death benefit plus no premium payment required to be paid in future plus guaranteed maturity benefit at the time of maturity plus guaranteed income till policy anniversary before the end of policy term

    Guaranteed Maturity Benefits: Guaranteed maturity benefit is the sum assured paid out in case the policyholder survives the policy period. This maturity benefit depends upon the chosen death benefit option, premium paying frequency, amount of premium and the gender of the policyholder. The guaranteed maturity benefit is paid on the date of maturity of policy.

    Premium alteration

    Alteration in frequency of premium payment is allowed for policyholders

    Benefits/Advantages of BSLI Wealth Assure Plan

    Listed below are some of the most prominent benefits and advantages offered by BSLI Wealth Assure Plan.

    • Tax benefits: Policyholders get to avail tax benefits under section 80C of the Income Tax Act for all premiums paid for this insurance policy.
    • Policy loan: Loans cannot be availed against the BSLI Wealth Assure Plan
    • Guaranteed Additions: Guaranteed additions will be made to your policy from time to time. Guaranteed addition between 6-10 years of availing the policy is 0.25% of the average fund value in the past 12 months. Similarly, for 11th - 15th year it is 0.55% and from 16th year onwards it is 0.75% every year.
    • Partial withdrawals: After completion of 5 years of policy, unlimited partial withdrawals are permitted. The minimum partial withdrawal amount being Rs.5000 and the maximum has no limit until a minimum fund value is maintained.

    How Does The BSLI Wealth Assure Plan Work

    Let us look into each of these plans.

    1. Lifecycle option

      Under this option, your portfolio gets structured according to your current age and the type of risk chosen by you. Risk options available are conservative, moderate and aggressive. The portfolio is then managed by BSLI professionals who auto-shift your investments from aggressive to moderate and so on as you grow older.

      Age (years)

                 

      Risk Profile

      8 - 30

      31 - 40

      41 - 50

      51 - 60

      61 - 70

      71+

      Conservative

      50%

      40%

      30%

      15%

      0%

      0%

      Moderate

      70%

      60%

      50%

      35%

      20%

      5%

      Aggressive

      90%

      80%

      70%

      55%

      40%

      25%

    2. Systematic Transfer option

      This option safeguards your invested capital from fluctuations of the stock market. The investment amount is first aloted to Liquid Plus Fund option after which 1/12th of the amount is then invested in a fund chosen by you. Options available to you are Enhancer, Multiplier, Super 20, Pure Equity and Value and Momentum.

    3. Self-managed option

      This is an option where all your investments are managed by you on your own. 13 investment funds are offered by BSLI ranging from 100% debt to 100% equity investment. Depending upon your risk appetite, any one of these can be chosen. Also, customers can choose to invest partially in all 13 investment options in order to diversify and mitigate risk.

      List of investment funds offered and related allocation

      Investment Fund

      Risk Profile

      Asset Allocation

      Min. (%)

      Max. (%)

      Liquid Plus

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      10, 0, 50

      50,40,90

      Income Advantage

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Assure

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Protector

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Builder

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Enhancer

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Creator

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Magnifier

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Maximiser

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Multiplier

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Super 20

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Pure Equity

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Value & Momentum

      High

      Debt Instruments Money Market & Case

      Equities & Equity Related Securities

      0, 0, 80

      20,20,100

      Applicable Charges for BSLI Wealth Assure Plan

      Premium Allocation Charge

      5% of basic premium during the first year

      4% of basic premium second year onwards

      NA

      Fund Management Charge

      1% p.a. for Liquid Plus, Income Advantage, Assure, Protector and Builder

      1.25% p.a. for Enhancer and Creator

      1.35% p.a. for Magnifier, Maximiser, Multiplier, Super 20, Pure Equity and Value & Momentum

      Policy Administration Charge

      Rs.3000 per annum for the initial 5 years and 1/12th of this charge later

      NA

      NA

      Mortality Charge

      Charged by unit cancellation in proportion to investment funds each year

      NA

      NA

      Misc. Charges

      Rs.50 per request for investment option switch

      Similar charges for premium re-direction

      NA

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