Birla Sun Life Insurance Classic Endowment Plan
Investment risk in the investment portfolio is borne by the policy holder. The premiums paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the policy owner is responsible for his or her decision. Birla Sun Life Insurance,, Self-Managed Option Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20 are only the names of the Company, Policy, Investment Option and Investment Funds respectively and do not in any way indicate the quality of the Policy, Investment Funds or their future prospects or returns. Insurance is the subject matter of the solicitation. Tax benefits are subject to changes in tax laws. For more details onterms and conditions please refer product brochure. 2
Unit linked non participating life insurance plan that helps to build a healthy corpus by investing in a choice of 10 investment funds plus option of enhanced life cover & rider benefits at nominal cost 3
Dream Solutions (Withdrawn) Basic Premium Guaranteed Option Enhanced SA Premium Enhanced Savings Premium Self-Managed Option Endowment Child Retirement 4
Dream Solutions (Withdrawn) Guaranteed Option Dream Plans (New) Base Plan Enhanced Sum Assured Self-Managed Option Classic Plans (New) Base Plan Enhanced Sum Assured Top-ups Endowment Retirement t Child 5
Policy Term 10, 15, 20, 25 & 30 years Savings Date Same as policy term Entry Age 1 65 years, subject to min. age of 18 years on Savings Date Basic Premium Payment Mode Min. Basic Premium Annual Rs. 25,000 p.a. Semi-annual Rs. 30,000 p.a. Quarterly Rs. 30,000 p.a. Monthly Rs. 30,000 p.a. Pay Term Short pay 5,10,15,20 years or To Savings Date 6
Basic Sum Assured is Basic Premium multiplied by higher of [10 or Policy Term/2] for entry ages below 45; or higher of [7 or Policy Term/4] for entry ages 45 and above Enhanced Sum Assured Option to increase protection substantially by paying a small premium Option available only at inception Payable on death only, prior to your Savings Date Min. Amount Rs. 50,000 Entry Age 18 to 65 years, max. age on Savings Date: 75 years Term Till Savings Date Basic Premium & Enhanced SA Premium payable is invested under the Self-Managed Option 7
Guaranteed Additions 10 th policy anniversary and on every 5 th policy anniversary thereafter. Guaranteed Addition is 2.50% of the Basic Premiums paid in the last 60 months 11 th policy anniversary and every policy anniversary thereafter. Guaranteed Addition is 0.25% of the average Fund Value in the last 12 months Death Benefit Higher of [Basic Sum Assured or Fund Value]; plus Enhanced Sum Assured, if any Death benefit shall never be less than 105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras) less any previous partial withdrawals Surrender Benefit Fund Value at the time, after completion of 5 policy years Maturity Benefit Fund Value at maturity 8
Accidental Death and Disability Rider Critical Illness Rider Hospital Care Rider Surgical Care Rider Waiver of Premium Rider Rider premium will be invested in investment fund/s chosen by you under the Self-Managed Option 9
Premium Allocation Charge Policy year % of Basic Premium %oftop-up Premium Year 1 7.50 Year 2 6.50 2.00% Year 3 + 5.00 Fund Management Charge 1.00% p.a. for Income Advantage, Assure, Protector and Builder 1.25% p.a. for Enhancer and Creator 1.35% p.a. for Magnifier, Maximiser, Multiplier and Super 20 Policy Administration Charge Policy year Charge per month Year 1 5 Rs. 20.00 Year 6 Rs. 25.00 inflating @ 5% p.a. thereafter 10
Mortality Charge Charge for Basic Sum Assured depends on the gender and the attained age of the life insured Charge for the Enhanced Sum Assured will depend on the Guaranteed Savings Date, gender and entry age of the life insured Miscellaneous Charge Partial Withdrawal / Switching / Re-direction Rs. 50 Policy Revival Rs. 100 11
Premiums are to be paid during the Pay Term In case premiums are not paid the policy will be discontinued as shown in the process below Grace period: 30 days (15 days for monthly pay) BSLI to send a notice within 15 days Period of 30 days for the client to reply Reply No Reply Revive Pay o/s premiums plus revival charges Discontinue - Fund Value less discontinuance charge credited to Discontinued Policy Fund (DCF) - DCF earns min interest @ 3.5% p.a. and paid out at the end of 5 th policy years - post 5 years, Fund Value paid immediately 12
Charge Policy Discontinued For AP of Rs. 25,000 or more In Policy Year 1 In Policy Year 2 In Policy Year 3 Lower of 6% of AP or FV; subject to a maximum of Rs. 6,000 Lower of 4% of AP or FV; subject to a maximum of Rs. 5,000 Lower of 3% of fap or FV; subject to a maximum of Rs. 4,000 In Policy Year 4 Lower of 2% of AP or FV; subject to a maximum of Rs. 2,000 In Policy Year 5 Nil where AP is Annual Premium and FV is Fund Value 13
Partial Withdrawals Unlimited partial withdrawals after 5 policy years or life insured attaining age 18, whichever is later Min. Rs. 5,000 Max. excess over Fund Value of Rs. 25,000 plus top-up premiums in last 5 years Policy Loans Min. Rs. 5,000 Max. 40% of Fund Value net of any discontinuance charge Interest rate will be declared from time to time Benefit amount payable on exits will be reduced by any outstanding policy loan at that time Top Up Premiums Min. Rs. 5,000 Not allowed 5 years before maturity Basic Sum Assured will increase by (a) 125% if the attained age of the life insured is less than 45 years; or (b) 110% if the attained age of the life insured is 45 years or more 14
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