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A plan that provides highest daily NAV protection along with flexibility of managing investments
Online PR News – 22-October-2010 –Birla Sun Life Insurance launches ‘Platinum Advantage Plan’
A plan that provides highest daily NAV protection along with flexibility of managing investments
Mumbai: Birla Sun Life Insurance Company Ltd., a subsidiary of Aditya Birla Nuvo Ltd., has introduced BSLI Platinum Advantage Plan, a non participating ULIP that will help customers build wealth through participation in the equity markets while protecting their returns. BSLI Platinum Advantage Plan is a sequel to the former BSLI Platinum Premier plan and is packed with a bevy of additional benefits. One of the pioneering advantages of the BSLI Platinum series is that it safeguards against the potential downsides of the equity market through a guarantee of highest daily NAV over 7 years. The new plan also offers choices like Enhanced Sum Assured option and Riders that allow customers to increase their financial security at a nominal additional cost.
Commenting on the launch, Fabien Jeudy, Chief Actuarial Officer, Birla Sun Life Insurance said “Equity markets have a huge potential towards meeting customer’s long-term wealth creation needs. Through BSLI Platinum Advantage plan we offer customers protection along with an excellent investment proposition that not only helps them participate in the equity market but also safeguard their investments through a highest daily NAV guarantee.”
He further added “Given the overwhelming response to BSLI Platinum Premier Plan and the benchmark that it created for the industry, we have now launched BSLI Platinum Advantage Plan with the objective of meeting consumers’ evolving needs efficiently through its enhanced product features.”
This plan gives customers the advantage of 2 Investment Options of their choice – Guaranteed Option and Self-Managed Option. The Guaranteed Option allows customers to safeguard their investments from any downsides in the capital markets while the Self-Managed Option gives customers’ complete access to invest premiums in a well established suite of 10 Investment Funds, ranging from 100% debt to 100% equity. Customers also enjoy full freedom to switch from one Investment Fund to another, as per their changing requirements. In addition to this, customers have the flexibility to invest additional amounts in the form of top-up premiums, anytime during the policy term, except in the five years prior to maturity date.
Key highlights of the new plan are:
1. Investment flexibility – 2 Investment Options of their choice – Guaranteed Option and Self-Managed Option
2. Flexibility to choose the premium amount (payable annually for 5 years)
3. Option of Enhanced Sum Assured to increase financial security
4. Benefit of additional 5 riders
5. Tax benefits under section 80C and section 10(10D) of the Income Tax Act, 1961
Premium Allocation Charge
A premium allocation charge is levied on the Basic Premium when received:
• 7.50% of the Basic Premium received in the first policy year
• 6.50% of the Basic Premium received in the second policy year
• 5.00% of the Basic Premium received from the third year onwards
* Conditions Apply
For further media information, contact:
Atul Malikram
9827092823
pr@atulmalikram.in
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