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Is your term plan equipped to keep pace with increasing responsibilities?

30th June, 2011

Birla Sun Life Insurance presents term solutions with increasing sum assured at no extra premium

Launches BSLI Protector Plan and BSLI Protector Plus Plan

Mumbai: Birla Sun Life Insurance Company, a joint venture of Aditya Birla Group and Sun Life Financial Inc has announced the launch of its new term plan offerings - Protector Plans. These plans offer flexibility to customers by giving them the option to increase their sum assured over a period rising out of increasing responsibilities and inflation, at no extra cost. The Protector plan is available in two variants - BSLI Protector Plan and BSLI Protector Plus Plan.

Says Mr Mayank Bathwal, Chief Financial Officer and Head - Institutional Sales, "Over time, an individual's responsibilities grow and this, coupled with lifestyle improvements, makes one realise the need for increased protection. To ensure that one's loved ones continue to enjoy the same comforts, even under unforeseen circumstances, there was a need for a plan that could keep pace with changing requirements."

He further adds, "BSLI has repeatedly been able to not just assess consumers' evolving needs, but also introduce innovative solutions time and again that have set industry benchmarks. Keeping these customer needs in mind for a term plan that can grow with growing responsibilities; BSLI has introduced BSLI Protector Plans that aim to ensure a family's financial security as per their evolving life cycle needs at an affordable cost." 

Both plans offer customers the flexibility of opting for a constant or increasing Sum Assured at inception. Customers, who opt for an increase in Sum Assured, have the option of increasing it by 5% or 10% every year, in order to factor in growing needs and responsibilities. Under this facility, on every policy anniversary, the Sum Assured increases by 5% or 10%.  

For added protection, both plans can be enhanced with the following riders:

  • BSLI Accidental death and disability rider UIN: 109C018V01
  • BSLI Critical illness rider UIN: 109C019V01
  • BSLI Surgical care rider UIN: 109C015V01
  • BSLI Hospital care rider UIN: 109C016V01
  • BSLI Waiver of premium rider UIN: 109C017V01

While blending complete financial protection with affordability, the two plans, also offer an additional advantage of lower premium for women.

Key features of the BSLI Protector Plans:

  • Option to increase sum assured at no extra cost
  • Choice of 5 additional riders to enhance your policy protection
  • Flexibility of premium paying frequency: Annual / Semi - Annual / Quarterly / Monthly
  • Income Tax benefits as per prevailing norms under the Income Tax Act, 1961

Additionally, Protector Plus Plan offers the following benefits:

  • Special premium rates for non-smokers
  • Special premium rates for women

About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate, and Sun Life Financial Inc, one of the leading international financial services organisations from Canada. With experience of over a decade, BSLI has contributed to the growth and development of the Indian life insurance industry and currently is one of the leading life insurance companies in the country. Enjoying the trust of over 2.4 million customers, BSLI is known for innovations. BSLI offers a complete range of offerings comprising of protection solutions, children's future solutions, wealth with protection, health and wellness as well as retirement solutions and has an extensive distribution reach over 500 cities through its network of over 600 branches, about 1,50,000 empanelled advisors and over 240 partnerships with Corporate Agents and Banks. The AUM of BSLI is Rs. 19760 crores and it has a robust capital base of over Rs. 2450 crores as at March 31, 2011. For more information, please visit www.birlasunlife.com

About Aditya Birla Financial Services Group (ABFSG):

Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz., life insurance, asset management, NBFC, private equity, broking, wealth management and distribution and general insurance advisory services.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Capital Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and Aditya Birla Insurance Brokers Ltd. ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with about 5.5 million customers manages assets worth Rs. 89,571 Crores (USD 19.9 billion) and prides itself for having a talent pool of about 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1,700 points of presence and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything under financial services except a savings or current account. With over Rs. 6,296 Crores in revenues, ABFSG is a significant non-bank player.

ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a USD 4 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 35 billion Indian business house operating in 33 countries across the globe.