Birla Sun Life Insurance Platinum Premier Plan
BSLI Platinum Premier Plan is an ULIP policy from the stable of Birla Sun Life Insurance. This is an unique plan which not only protects your NAV but also offers flexibility in your investment. This is yet another insurance plan or policy which is developed for those who appreciate and targets the equity market in wealth generation. But just like any other ULIP Plan in India, has its own risks depending upon the equity market status.
This plan from Birla Sunlife looks a lot similar to that of LIC Wealth Plus and ICICI Pru Ace, although with minor changes though.
Benefits:
This Birla Sun Life Insurance Platinum Premier Plan helps you direct your investment to the Platinum Premier Fund and thus be able to derive higher returns with either the starting unit price of Rs. 10 or the maximum unit price recorded for the next 7 years and 3 months or the final unit price at the end of 10 years. You can get to choose whichever option you want. Thus this eventually mean that the highest NAV is always protected no matter what eventuality happens. The rest of the premiums can be made either 100% debt or 100% equity depending upon your need.
Loyalty Additions:
Apart from the above protection, you will get 5% as loyalty additions of the annual premiums when the policy gets matured will only help you add more wealth to your existing plan.
Choice of Investments:
The BSLI Platinum Premier Plan gives you the choice of two options to get your premium invested, namely, guaranteed option and self-managed option. With the guaranteed option Birla Sun Life will create a new series regularly during your policy tenure and each of these units starts at Rs. 10. For this option the guaranteed unit price would be the highest daily NAV that was recorded during the seven years and three months period of the plan.
And with the self-managed option you get to choose where you want your money to be invested, either full 100% equity or full 100% debt or any percentage of your money in either option depending upon your risk taking behavior and/or safe measures. There are in fact 10 investment funds to choose from. You can switch between them any number of times during the policy period.
Life Cover:
Apart from this you will get life cover for you and thus your family is well protected no matter what happens to you.
Partial Withdrawals:
Partial withdrawal is allowed in this Platinum Premier Plan after 3 years.
Policy Details:
The minimum annual policy premium is Rs. 25,000 and Rs. 30,000 if paid using half yearly, quarterly or monthly. The sum assured is a minimum of 5 times annual policy premium. The premiums can be paid online and even the switching between the funds can be done online by you and thus making, the BSLI Platinum Premier Plan a flexible insurance policy among the existing similar plans available.
Tax Benefits:
Under secion 80C the annual premiums are given tax benefits, i.e., up 1 Lakhs can be invested in such insurance policies.
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Comments
Plan offered by birla is quit good to invest beacause of its less charges and many of its fund options…
plan offers 5% bonus on every year when a customer pays premium,which covers its charges…holl n soul its a good plan to invest rather than any mutual fund…
Sir,I have already taken the Birla Platinum policy on half yearly basis,But I don’t know how to know the NAV value time to time in online,please give the procedure to check the nav
What is the present NAV of BSIL Platinum Premier Plan and how much minimum instalments I have to pay means what is lock in period. My agent told me that it is 3 years if first instalment is paid before 31 August,2010 but policy was reliesed on 9 Sept,2010 indicating lock in period of 5 years. Please clarify,my present age is 61.
Dear Sirs
Yet there is no reply on my e mail id for my comment dated Nov 6 2010 regarding policy term.
M K PORWAL
Thanks for the useful post stating all the details of the fund. This seems to be a attractive fund to invest in.