BSLI Wealth Assure Plan

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 11^th - 15^th year it is 0.55% and from 16^th 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.

Lifecycle optionUnder 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%
Systematic Transfer optionThis 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.

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

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

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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%