Media

Birla Sun Life presents two new Bachat avenues for customers

24th August, 2011

~ Introduces Bachat (Moneyback) Plan and Bachat (Child) Plan ~

Mumbai: Birla Sun Life Insurance Company Company Ltd, a subsidiary of Aditya Birla Nuvo Ltd, one of India's leading life insurance companies, has introduced two new variants to its recently launched 'Bachat Plan'. The launch of BSLI Bachat (Moneyback) plan and BSLI Bachat (Child) Plan closely follows the launch of Bachat (Endowment) plan in May this year.

The BSLI Bachat Plans enable customers to build a corpus through a regular and systematic savings approach for various life needs. The recently launched BSLI  Bachat (Moneyback) Plan offers the same advantage along with payouts at regular intervals. On the other hand, BSLI Bachat (Child) Plan will enable parents to provide for and protect the child's future through regular savings.

Commenting on the launch, Mr Fabien Jeudy, Chief Acturial Officer, Birla Sun Life Insurance said, "Our research shows that there is an increased demand for products on the traditional platform that will help consumers save for their long term goals through regular and affordable premiums. Keeping this consumer need in mind we had introduced BSLI Bachat (Endowment) plan for customers who are focused on a lumpsum amount at maturity."

He further adds, "This product was very well received by consumers and contributed over 10 per cent of the total sales in the first quarter. This overwhelming response encouraged us to extend this offering for customers who are focused on regular payouts and saving for their child. We are hoping that BSLI Bachat (Money back) and BSLI Bachat (Child) Plan will address these consumer needs effectively."

Key benefits of BSLI  Bachat (Moneyback) Plan:

  • Growth with regular money back as much as 20 per cent of Monthly Base Premiums every 5th, 10th and 15th policy year
  • Maturity benefit with Bachat additions and Loyalty addition
  • Safety and liquidity of savings
  • Life cover to secure family's future needs
  • Tax savings - Under Sec 80 C and Section 10 (10D)
Key benefits of BSLI Bachat (Child) Plan:
  • Benefit of receiving Monthly Base Premiums back after 20 years along with Bachat additions and loyalty additions
  • Policy continuance in case of untimely demise of parents
  • Provides double the Sum Assured for a nominal additional premium in case of accidental death
  • Life cover to secure family's future needs
  • Tax savings - Under Sec 80 C and Section 10 (10D)
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 organisation from Canada.

With an experience of over a decade, BSLI has contributed significantly 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 trust of its over 2.3 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, close to 1,45,000 empanelled advisors and over 700 partnerships with Corporate Agents and Banks. This is well supported by the sound financials that the Company has. The AUM of Birla Sun Life Insurance is close to Rs16,000 crores and it has a robust capital base of over Rs2450 crores as on March 31, 2010. For more information, please visit www.birlasunlife.com

About Sun Life Financial Inc
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2009, the Sun Life Financial group of companies had total assets under management of $435 billion. For more information please visit www.sunlife.com.

For further media information, contact:
Saman Khan
Manager-Corporate Communications
Tel: +22 - 43569000, extn: 9192
M: (91) 9594060612 / (91) 9892460612
Email: Saman.Khan@birlasunlife.com

Disclaimer: Insurance is the subject matter of the solicitation Tax benefits are subject to changes in tax laws. For more details refer to product brochure