Birla Sun Life Insurance presents 'BSLI Foresight Plan'
3rd March, 2011
~ Maximises wealth ~
~ Secures family's future ~
~ Manages the portfolio during market high's and low's ~
Mumbai: Birla Sun Life Insurance Company Ltd, a subsidiary of Aditya Birla Nuvo Ltd, announced the launch of BSLI Foresight Plan, a cutting-edge solution that provides customers the upside of market returns while completely shielding their investments from downside risks. This medium-term unit linked savings plan is apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options.
Commenting on the launch, Mr. 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. However, many customers tend to stay away from this attractive opportunity due to the lack of knowledge on timing the market and the resultant fear of loosing their money. This behaviour brings forth the need for a product offering that can eliminate this fear and give customers the confidence of not just optimising investments when the markets are low but also locking the gains, when the markets are at a high."
He further adds, "Keeping this unfelt customer need in mind, we have designed BSLI Foresight Plan, an innovative investment avenue that addresses this requirement. We are positive that this product will induce many more customers to take their first step towards participating in the equity markets, help them protect their investment downside and lock their gains."
BSLI Foresight Plan can be customised for different investors. It offers the following flexibility:
- Choice of Basic Premium: Entire premium to be paid once / at the beginning of every policy year
- Choice of Basic Sum Assured:
- Single pay option: Minimum BSA or 5 x Basic Premium
- 5 - pay option: 100, 150, 200, 250 or 300 per cent the minimum BSA
- Choice of Investment Option: Self-Managed Option or Guaranteed Option
- Choice of Premium Pay Term: Single-Pay / 5-Pay
- Provides upside of market related returns while shielding investments from downside risks
- Full freedom to switch from one fund to another - From amongst 10 investment funds under Self-Managed Option
- Option to increase protection by choosing higher sum assured multiple
- Option to pay all 5 year's premium in advance
- Tax benefits under Sections 80C and 10 (10D) of the Income Tax Act, 1961
- Opportunity to invest in New Generation Foresight Fund
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 an 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 trust of over 2 million customers, BSLI is known for innovations. BSLI offers a complete range of products comprising 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, over 1,53,000 empanelled advisors and over 240 partnerships with Corporate Agents and Banks. The AUM of Birla Sun Life Insurance is over Rs.19000 crore and it has a robust capital base of Rs.2450 crore as on December 31, 2010. For more information, please visit www.birlasunlife.com
About Aditya Birla Financial Services Group (ABFSG)
The 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 US$18 billion approximately 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 1600 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 revenue of over US$1.25 billion (in 2009-2010) ABFSG is a significant non bank player.
ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a US$3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a US$30 billion Indian business house operating in 27 countries across the globe.
About Sun Life Financial
Sun Life Financial is a leading international financial services organisation 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 June 30, 2010, the Sun Life Financial group of companies had total assets under management of $434 billion. For more information please visit www.sunlife.com
Sun Life Financial Inc trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
- Investment risk in the investment portfolio is borne by the policy holder.
- The premiums paid in Unit Linked 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 holder is responsible for his or her decision.
- Birla Sun Life Insurance - BSLI Foresight Plan - Self-Managed Option and Guaranteed Option - Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier, Super 20 and Foresight are only the names of the Company - Policy - Investment Options - Investment Funds respectively and do not in any way indicate the quality thereof or their future prospects or returns.
- Insurance is the subject matter of the solicitation.
- Tax benefits are subject to changes in tax laws.
- Refer to product brochure for more details.
Chief Manager-Corporate Communications | Birla Sun Life Insurance
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