Birla Sun Life Insurance

0 / 5 based on 0 User Reviews
Claim Settlement Ratio - 87.76%*
*Data according to IRDA Annual Report (2013-14)

Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., one of the leading international financial services company from Canada. Birla Sun Life Insurance has contributed to the growth and development of the life insurance industry and is currently one of the leading life insurance companies in the country.  Their customer base comprises of over two million policy holders. The Company offers a complete range of plans comprising protection solutions, children's future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions. Its distribution network is in over 500 cities, 560 branches, around 85,000 empanelled advisors and over 140 partnerships with corporate agents, brokers and banks.

It’s been a decade that 0has contributed significantly to the growth and development of the life insurance industry of our country. They have also pioneered in the launch of Unit LinkedLife Insurance plans. Their vision is to be a leader and role model in integrated financial services. They value Integrity, commitment, Passion, Seamlessness and Speed.

Insurance Plans

Birla Sun Life Insurance Company Limitedoffers a wide variety of insurance plans to the customers. These plans cater to all the basic needs and necessities of the customers at a very competitive rate of interest. They take care of all the basic necessities of the customers by insuring them against all sorts of risks through a wide variety of plans to choose from. The different types of insurance plans offered by Birla Sun Life Insurance Company Limitedare as follows:

  • Life Term Solutions
  • Savings with Protection
  • Children’s Future Solution
  • Pension Solution Plan
  • Ulip Solution Plans
  • Rural
  • NRI

Here are different types of plan offered by Birla Sun Life Insurance:

Life Term Solutions:

As we all know and somehow we have accepted the fact that life is filled with uncertainties and hence the protection of our family tops our priority list. Hence we always try to ensure that even during our absence our family enjoys the same lifestyle and leads a comfortable life. So Birla Sun Life Insurance brings those plans that are simple yet economic and help us achieving our objectives irrespective of what the shortcomings are. They have assured that the premiums are very reasonable and helps fit in the budget easily. The different kind of Protection Solutions Plans are as follows:

BSLI Protector Plan Plus –This is a plan that promises to take care of the family keeping in of the growing needs and in turn makes provision for a good lifestyle. The features of the plan is enlisted below:

  • Complete financial protection at low costs
  • Entry age – 18years – 65years
  • Minimum Sum Assured amount – 30,000/-
  • Death Benefit Available – 10 times the annualized premium + Sum assured at the date of death
  • Tax Benefits – this plan offers tax benefits under Section 80C and Section 10(10D) of Income Tax Act,1961
  • Total & Permanent Disability Benefit –In case there is any kind of disability during the plan term then 50% of the Sum Assured is paid and death benefit remains unaffected.

BSLI Future Guard Plan- This plan provides complete financial freedom even when you're not around. This plan is ideal if you want an economic way of providing for cover and would like to protect your family you also get back all your premiums back on maturity. So you can enjoy life knowing that your family's future is secured and guaranteed even in your absence and your premiums are yours on your survival. The features of the plan is enlisted below:

  • Entry age – 18years – 65years
  • Minimum Sum Assured amount –5,00,000/-
  • Death Benefit Available – 10 times the annualized premium + Sum assured at the date of death
  • Tax Benefits – this plan offers tax benefits under Section 80C,80D and Section 10(10D) of Income Tax Act,1961

 

BSLI Easy Protect Plan – Birla Sun Life Insurance presents this traditional term insurance plan which gives you the option for flexible cover and it also includes increasing and constant term assurance. It secures you and your family financially at an affordable cost. As our responsibilities only keep increasing with time, it protects your family against extra liability. The features of the plan is enlisted below:

  • Entry age – 18years – 55years
  • Complete financial solution and that too at affordable costs
  • Two plans options to your requirement.
  • Minimum Sum Assured amount –50,00,000/-
  • Death Benefit Available – In case of demise of the insured the sum assured applicable shall be paid to the nominee.
  • Tax Benefits – this plan offers tax benefits under  Income Tax Act,1961
  • Surrender Benefit – the policy will acquire a surrender value immediately after the issuance of the policy.

BSLI Protect @ Ease - The happiness and security of our family is always your priority. We always want to ensure that your loved ones never have to compromise on their dreams aspirations.We understand that in this fast paced world, you are always looking for convenience while considering a term plan. Keeping all this in mind, this plan brings you a hassle-free way of getting the advantage of term life insurance for the security of your family. In addition to this unmatched convenience, you can also choose your sum assured, the duration of the policy and more. Our flexible plan is tailored to give you the best cover possible, ensuring that your family gets the future they deserve. 

Saving with Protection:

Life is full of uncertainties and we never know what life has planned for you. This is where BSLI Savings with Protection solutions come to your aid. By helping you make small savings in a disciplined manner, we can create a corpus for fulfill your family's wishes in the future. Since the amount is small, you can continue enjoying your current lifestyle without compromises. What's more, your family will get the added security of a Life Cover & tax free returns. The different kinds of Plans are enlisted below:

BSLI Vision MoneyBack Plus Plan – This plan gives you the advantage of money back policy. It’s a traditional plan which also meets your financial requirement and life cover to meet any unexpected danger. Some of its features are listed below:

  • Entry age – 13years – 45years
  • Minimum Sum Assured amount –1,00,000/-
  • Guaranteed Survival Benefit- A survival benefit is given at every 4th or 5th year of the plan as percentage of sum assured. The regular payouts are given as long as life insured survives and these are predefined percentages on sum assured.
  • Death Benefit Available –the nominee receives Sum assured + accrued bonus +terminal bonus.
  • Maturity Benefit is given with Accrued bonus + Terminal Bonus, and posts these payments the plan is permanently terminated.
  • Tax Benefits – this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.

BSLI Vision Life Income Plan – Despite the uncertainty in our lives we always try to plan for all of life’s important responsibilities and stages, hence to fulfill these efforts and dreams we need a regular source of extra income. It is then this plan comes into the picture. It is a traditional whole life plan which not only helps us to fulfill all the responsibilities but also realizing the dreams by providing a steady extra income. In this plan survival benefits are payable every year the end of the premium paying term till maturity and a life insurance benefit, this plan offers a perfect blend of income and financial protection for you and your family. Some of its features are listed below:

  • Entry age – 1year – 60years
  • Minimum Sum Assured amount –2,00,000/-
  • Access to rider at nominal extra cost.
  • Comprehensive financial protection the family with whole life covers up till age 100.
  • 5% of the sum assured + bonus every year after premium paying term
  • Death Benefit Available – the nominee receives Sum assured + accrued bonus +terminal bonus.
  • Maturity Benefit is given with Sum Assured + Terminal Bonus, and posts these payments the plan is permanently terminated.
  • Tax Benefits – this plan offers tax benefits under Section 80C, 80Dand Section 10(10D) of Income Tax Act, 1961.

BSLI VisionEndowment Plan –This plan assures you that your savings are absolutely safe and moreover it starts giving you growth in your savings with accrued bonus from the first year itself. Some of its features are listed below:

  • Entry age – 1year – 55years
  • Minimum Sum Assured amount –1,00,000/-
  • Death Benefit Available – the nominee receives Sum assured + accrued bonus +terminal bonus. In case the death is due to accident then an sum assured is paid up as additional benefit.
  • Maturity Benefit is given with Sum Assured + Accrued Bonus+ Terminal Bonus, and posts these payments the plan is permanently terminated.
    • Tax Benefits – this plan offers tax benefits as per extant laws

BSLI Savings Plan – This plan not only allows you to regularly save money and also helps it grow over the time. This plan allows you to have mental satisfaction and peace to meet your future financial requirements. Some of its features are listed below:

  • Entry age – 18years – 50years
  • Minimum Sum Assured amount –30,000/-
  • Access to rider at nominal extra cost.
  • Comprehensive financial protection the family with whole life covers up till age 100.
  • 5% of the sum assured + bonus every year after premium paying term
  • Death Benefit Available – the nominee receives Sum assured + accrued bonus + guaranteed additional bonus+terminal bonus.
  • Maturity Benefit is given with Sum Assured + Terminal Bonus + guaranteed additional bonus.

BSLI Vision Life Secure Plan – We must inculcate this habit of saving very early in our lives because in the long run not only  good amount of wealth is accumulated but also tax benefit is available from a lot of them. Some of its features are listed below:

  • Entry age – 1year – 60years
  • Minimum Sum Assured amount –2,00,000/-
  • Access to rider at nominal extra cost.
  • Comprehensive financial protection the family with whole life covers up till age 100.
  • 5% of the sum assured + bonus every year after premium paying term
  • Death Benefit Available – the nominee receives Sum assured + accrued bonus +terminal bonus.
  • Maturity Benefit is given with Sum Assured + Terminal Bonus + Accrued Bonus.
  • Tax Benefits – this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.

BSLI Income Assured Plan – This plan is of a traditional nature providing savings and protection. It gives assured income benefits payable from the end of the premium paying period and life insurance benefits. This plan comes with monthly income and financial security. Some of its features are listed below:

  • Entry age – 8years – 60years
  • Minimum Sum Assured amount –1,00,000/-
  • Guaranteed Additions – these addition will added to the policy at the beginning of each quarter after the completion of the premium payment term until policy date maturity.
  • Death Benefit Available – the nominee receives Sum assured + guaranteed additions accumulated till death.
  • Maturity Benefit is given with Sum Assured + guaranteed additions accumulated
  • Tax Benefits – this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.

BSLI Vision Regular Returns Plan – BSLI Vision Regular Returns Plan is a traditional participating endowment plan. With survival benefits payable every year from 5th policy anniversary till maturity and life insurance benefit, this plan offers a perfect combination of liquidity, savings and financial protection of your family. Some of its features are listed below:

  • Entry age – 13years – 45years
  • Minimum Sum Assured amount –2,00,000/-
  • Survival Benefit – this benefit is distributed from 5th year and every subsequent policy anniversary till maturity you receive a guaranteed survival benefit.
  • Death Benefit Available – the nominee receives Sum assured +Accrued Bonus till date
  • Maturity Benefit is given with Accrued Bonus less non- guaranteed survival benefits already paid.
  • Tax Benefits – this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.

BSLI Vision Endowment Plus Plan – All our lives are filled with uncertainty so if there is any policy which assures you that not only is the money safe but your returns will be higher than your investment. With the return of premium along with accrued bonuses on maturity and protecting your family's financial security.So by investing in BSLI Vision Endowment Plus Plan, your investment can go a long way in building a safe and financially sound future for your family, today as well as in the years to come. Some of its features are listed below:

  • Entry age – 30 days – 60years
  • Minimum Sum Assured amount –1,00,000/-
  • Tax Benefits – this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.

BSLI Guaranteed Future Plan – A unique plan designed to help you meet your responsibilities for certain major milestones of your life such as children education, marriage, exotic family holidays etc. Some of its features are listed below:

  • Entry age – 18years – 50years
  • Sum Assured amount –10 * Annual Premium
  • Flexibility to choose – premium paid every year, policy term, death benefit option.
  • Tax Benefits – this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.

Children’s Future Solution

A child is a source of joy for every parent. You work towards ensuring that you have the means to meet the big future expenses of your child, be it for higher education, marriage or any other dreams that you have for your child. This plan is designed to meet future requirement of your child by allowing us to meet the major expenses. They also offer you the choice of guaranteed returns or the flexibility to manage your fund options to make your money grow as per your needs. 

BSLI Vision Star Plan - As the child grows up and looks for success in this fast paced world, he will always look to you for support and inspiration. Hence you will need a plan that gives your child the confidence to pursue and discover his/her real passion. Presenting, BSLI Vision Star Plan, so that you can ensure that your child doesn't miss out on opportunities due to insufficient funds. Some of its features are listed below:

  • Entry age – 18years – 55years
  • Sum Assured amount –1,00,000/-
  • Regular Bonus – Simple Bonus is declared at the end of each financial year and it will be added to your policy.
  • Maturity Benefit – Accrued Bonus till date + Terminal Bonus
  • One can take loan in this plan once it has acquired its surrender value. Minimum loan amount is 5,000/- and maximum is 85% of your surrender value.

Pension Solution Plans

At retirement, income stops but the expenses don’t. It is therefore important to start saving early and in a planned manner for a comfortable and in a disciplined manner for a stress-free retired life. What is also important is to determine your goal for the retirement corpus basis your projected needs during retired life.

Birla Sun Life Insurance Retirement Solutions ensure that you enjoy a secure and happy retired life. 

BSLI Empower Pension Plans – This is a plan designed to ensure that one remains in control of the non-earning phase of one’s life. It is basically a unit linked, non-participating pension plan an helps you focus on your goals enhance your savings. Some of its key features are as follows:

  • Entry age – 25years – 70years
  • Death Benefit – Guaranteed Death Benefit/Fund value as on date of intimation or accumulation of all basic premiums paid or accumulation of all basic premiums paid till date at a compounding guaranteed rate.
  • Tax Benefits – this plan offers tax benefits under Section 80CC, and Section 10(10D) of Income Tax Act, 1961.

BSLI Immediate Annuity Plan - Birla Sun Life Insurance Immediate Annuity Plan enables you to convert your savings or lump sum amounts into an instantly guaranteed lifetime income source after retirement, which you can avail anytime you choose to.

BSLI Empower Pension – SP Plan - In this policy, investment risk in investment portfolio is borne by the policyholder.Linked Insurance Products do not offer any liquidity during the first five years of the contract. BSLI Empower Pension – SP Plan – this plan will help you gain financial freedom during your second innings. Helps you focus on your goals and enhances your savings for a future free from worries.

Ulip Solution Plans

If you buy this premium then your dreams are secure, these plans offer you flexible plans and encourage you to save regularly.

  • BSLI Wealth Max Plan – Single pay unit linked plan it allows you to choose where to invest in 13 different funds.
  • BSLI Wealth Secure Plan – its life insurance plan and ensures to meet your family’s dream with Whole Life Cover.
  • BSLI Wealth Assure Plan – it’s a protection and savings plan enabling your wealth to grow steadily.
  • BSLI Fortune Elite Plan – this plan allows you to decide your premium amount under 3 different plans.
  • BSLI Wealth Aspire Plan –in this policy the insurer is rewarded for policy continuance in the form of additional units will be added to your policy

Rural Solutions

A large population of India lives in the rural areas. The impact of risks associated with life and health are far more severe on this population as compared to the urban population with higher levels of income. 

Birla Sun Life launched its rural program in 2001 to provide insurance to the rural populace of India. This includes the endowment product that provides life cover and guarantees returns to the insured on maturity.

  • BSLI BimaDhanSanchay – provides the security of life insurance and guarantees return of premiums paid on maturity.
  • BSLI Bima Suraksha Super – Simple and hassle free plan providing security to family’s future
  • BSLI BimaKavachYojana – it’s a 3 year plan with death,maturity and surrender benefits.
  • BSLI Grameen Jeevan Raksha Plan – plan designed to cater to needs of rural population and a term insurance.

NRI Solutions

NRI solutions can help you ensure that your dreams and aspirations are not compromised even while you stay away from your family. They help you plan all your goals like planning for your child's education, planning for your retirement, building a house, caring for your parents back home.

  • BSLI Vision Life Income Plan - BSLI Vision LifeIncome Plan, a traditional participating whole life plan that helps you to not only plan your financial goals but also realize your dreams by providing you with a steady income and whole life cover.

 

Birla Sun Life Insurance - Latest News

  • Sun Life’s stake hike completed in the insurance joint venture launched Aditya Birla

    Birla Sun Life Insurance Company, held 6.9 % of the market shares for a period of 9 months ending on 31st December, 2015 and assets of Rs.30,421 Crore at the end of the calendar year 2015.

    Aditya Birla Nuvo Limited declared the successful accomplishment of financial stake increase of Sun Life in ABNL’s insurance JV. The financial stake of Birla Sun Life Insurance Company, by the means of this transaction, became 49% from 26%.

    As stated by the company in a release, Aditya Birla Nuvo Limited will now be holding 51% controlling stake of the insurance JV. ABNL received a payment of Rs. 1,664 Crore from Birla Sun Life in exchange of an additional stake of 23%. The transaction has valued Birla Sun Life at a total of Rs. 7,235 Crore.

    Nearly a total of 437 million shares, which makes 23% of the paid up and issued equity share capital of Birla Sun Life, were sold to Sun Life Financial by Aditya Birla Nuvo Limited. ABNL stated that the funds generated by the stake sale will lead to a substantial decrease in the debt of the company. Also, as per the company release, the free cash flow generated by the transaction will help ABNL strengthen its growth plans.

    Birla Sun Life is currently catering to a minimum of 16 lakh policyholders.

  • Birla Sun Life Insurance Company adapts cluster method to achieve sales targets

    Birla Sun Life Insurance, the private life insurance company, has switched to cluster method in order to analyze the usual issues faced by specific groups in the nation. This is being done with an intention to design solution-based products for those clusters. The company has also designed a lab to bring up design specific solutions for all the examined clusters and also recognize more of such clusters.

    "We are trying to do things differently for financial services. We realized that the trust in buying these products was going down. We started believing there has to be some core reason for this and then began looking at newer methods to deal with it," said Pankaj Razdan, CEO, Birla Sun Life Insurance. Razdan explained the thought behind this concept, which is: to build trust in the consumer population, it is necessary to understand them and their needs.

  • Keen vision of Birla Sun Life Insurance might prove profitable this year

    Jan 29, 2016: In this volatile quarter the big player Birla Sun Life Insurance is promising proper returns. The CIO of this big corporation, Sashi Krishnan suggests low returns this season. The market is suffering a low trench as China, one of the world’s largest economies is going through a setback which might have a consequence on the emerging market and capital outflows will be witnessed if not stabilised soon.

    Revenue growth will be flat. He also said that after watching the budgets very attentively investment spending will significantly give results. The year 2016 will also witness structural reforms that did not happen in the previous year although administrative reforms were significant. The company has its own USP. It provides attractive valuations for the investors and imparts proper corporate governance focus.

    Birla Sun Life Insurance outperforming the other players diverting its funds to some promising energy sectors for better returns. Both the company and the investors will be profited for the venture.

  • Sun Life’s 23% stake ascend in Birla Sun Life Insurance approved by CCI

    JSun Life's acquirement of 23% added stake in Birla Sun Life Insurance has been approved by the Competition Commission of India (CCI). Birla Sun Life Insurance is a joint venture between Sun Life Financial and Aditya Birla Nuvo. The company is a private life insurance competitor in India and holds new business premium market share of 7.9% as of September 30, 2015.

    Canada's Sun Life's stake in BSLI will rise from 26% to 49% due to this acquisition. "CCI approves acquisition of additional 23% equity of Birla Sun Life Insurance by Sun Life Financial (India) Insurance Investments," said CCI on Monday. Also, this sale of 23% stake will fetch Aditya Birla Nuvo about Rs 1,664 crore.

  • Birla Sun Life scripts another 'buland' story with a human touch

    A new film has been launched under Birla Sun Life Insurance’s 'Khud ko kar buland' campaign. Shot in a hospital ward, this film features an old gentleman who has recently had bypass heart surgery. When his boss comes to see him, he gets worried about his boss’ air travel ticket, and his replacement. On the other hand, the boss is concerned about his PA's health and wants to know how soon he will get back to work.

    When the old man’s wife tells the boss that the doctors have told him not to work, he supports his PA and offers the same job to his son. On this, the PA reveals that this would not be required, as his son has already left for the UK to do his masters. The boss happily congratulates the young man and his assistant proudly says that his son would not have to fix appointments, instead give them.

    As they all rejoice with laughter, a voice over says, that you cannot control the unavoidable, but the unavoidable would not be able to control you either. Protect your loved ones and your dreams.

  • Birla Sun Life ties up with Peerless Financial for Wider Distribution of Insurance Products

    Birla Sun Life insurance and Peerless financial Products distribution Ltd have signed a long-term agreement for a corporate agency tie-up. According to the Memorandum of Understanding signed between the two companies, Peerless, as a corporate agent, will now be selling all the products of Birla sun Life insurance.

    Birla Sun Life Insurance has been selling Life insurance products for the last 15 years now. But the Company’s popularity was limited to the customers from Urban India. With this new business tie-up, it is expected that Birla Sun Life Insurance will have a more widespread reach among various socio-economic sectors in India. Since Peerless has touchpoints over urban, suburban, and rural areas of India, Birla Sun Life Insurance products will be available to all these touchpoints from now on.

    Birla Sun Life offers need-based life insurance solutions to its customers. This tie-up will further value add to their customer relationship.

Reviews for Birla Sun Life Insurance

TOTAL REVIEWS (0)
No record found.