BSLI Wealth Assure Plan Overview
BSLI (Birla Sun Life Insurance) Wealth Assure Plan is a non-participating ULIP (Unit Linked Insurance Plan). Unlike traditional insurance plans, ULIPs are subject to different risk factors. It’s basically a protection cum savings plan that provide you and your family with peace of mind and a secure financial future to take care of your financial needs at different stages of life.
Under this plan, the policyholder is supposed to borne the investment risk in the segregated funds chosen. These segregated funds are subject to investment risks and the share/bonds prices may fluctuate reflecting the market value of the chosen assets. Please understand that past performance of the chosen assets is no guarantee of their future performance.
How does the plan work?
• First of all, you need to choose the basic premium and policy tenure.
• After that, you need to select the payment mode.
• The next step is to choose basic sum assured (risk cover amount) you want.
• Finally, choose from the 3 available preferred investment options that suits your investment needs, viz., Lifecycle option, Systematic Transfer Option and Self-Managed Option.
|Entry Age||30 days||65 years|
|Maturity Age||18 years||75 years|
|Policy Term||10 years||30 years|
|Premium Payment term||5 Pay|
|Top-Up Premium||Rs 5,000||–|
Key Advantages of Aditya Birla Sun Life Insurance Wealth Assure Plan:
• Investment cum insurance plan offering financial security to your family in your absence and providing upside of market related returns while protecting your returns from downside risks.
• Flexibility to select between 3 different investment preferences to suit your needs.
This option allows you to manage and administer your investment portfolio on your own, suiting your risk profile.
Systematic Transfer Option
Under this investment option, you can systematically participate and time your investment portfolio into the equity market.
Under this option, you get to invest your money in different funds.
• Sum assured combined with fund value (as death benefit)
• Option to add premium top-ups if you’ve additional savings
• Partial withdrawals to take care of emergency fund requirements
Salient Features of ABSLI Wealth Assure Plan:
In case you choose to continue your policy even after the policy matures, the company will reward you in the form of additional units to your policy.
In case of an unfortunate demise of the life assured before the plan matures, the nominee will be paid the basic sum assured along with the basic fund amount accumulated as on the date of intimation of death. In addition to that, the nominee will also be given the top-up sum assured plus the top-up fund value as on the date of intimation of death.
Death benefit is equal to 105% of the total premiums paid till date (excluding service tax).
In case, the death of the life assured takes place before the risk commencement date, the nominee will only receive the basic premiums paid (excluding service tax) as the Death Benefit.
It is the fund value which is given to the policyholder once the plan matures.
In case of any emergency, you have an option to surrender your policy. Once the policy is surrendered and discontinued, you will receive the surrender benefit after deducting the applicable charges.
The policy charges consist of fund management charge, premium allocation charge, mortality charge and policy administration charge.