Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a leading international financial services organisation. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable protection for your future.

The Aditya Birla Group has a turnover close to Rs. 33000 crores with a market capitalisation of Rs. 53400 crores (as on 31st March 2006). It has over 72000 employees across all its units worldwide. It is led by its Chairman - Mr. Kumar Mangalam Birla. Some of the key organisations within the group are Hindalco, Grasim, Aditya Birla Nuvo, etc. Sun Life Financial Inc. and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Sun Life Financial Inc. had assets under management of over US$343 billion, as on 31st March,2006. Sun Life Financial Inc. is a leading player in the life insurance market in Canada.

Birla Sun Life Insurance (BSLI) in its 5 successful years of operations has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than a million lives since inception and its customer base is spread across more than 1000 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company has a capital base of Rs 460 crores as on 31st March 2006.

You have the option of taking the plan for 10 yrs, 20yrs, 30yrs or Whole Life.
Minimum Duration:10yrs
Maximum Duration: 70yrs
(Please note that Whole Life is assumed to be 100 yrs )

Minimum Sum Assured: Rs. 2,00,000

The premium amount is entirely flexible subject to a minimum annual premium amount of Rs. 25,000 and minimum Sum Assured of Rs. 2,00,000.There is no limit for the maximum premium amount. To give you an idea of the flexibility in the premium payment, the plan allows you to:

You can pay additional amounts over and above the regular premium amount from inception whenever you have additional savings. These amounts, which you deposit, get added to your Fund Value so that you do not have to look for other investment opportunities for your money. The minimum amount of top up will be Rs. 10,000. The maximum amount of top up in a policy year can not exceed one annualised premium or Rs.5,00,000 whichever is lower.

If the amount of top up premiums paid exceeds 25 percent of the Annual Policy Premiums paid till date it will result in a proportionate increase in the Sum Assured subject to then prevailing underwriting and administrative rules. The amount of additional Sum Assured will amount to 125% of the excess top up premium.

You have the option of paying the premiums on a monthly (through ECS only), quarterly, semiannual and annual basis. (Please note that the minimum annual premium should be Rs 25000/- for any mode of premium payment.)

You have an option to pay your premiums through Cash, Cheque, Credit Card, Salary Deduction, ECS, Direct Debit.

The Sum Assured can be any multiple of your choice of the annualized premium amount that you choose to pay subject to a minimum multiple of 5 times and the minimum Sum Assured of Rs. 2,00,000. The minimum Sum Assured will be as per the formula 0.5*Benefit Term* annualized premium subject to the following multiples:

*However, the minimum Sum Assured for 10 years term will be five times the annual premium or Rs. 2,00,000 whichever is higher. The maximum multiple is dependent on your age and Coverage Paying Period chosen by you.

You can select the Investment Fund Options based on your risk preference and switch between the Investment Funds based on market performance. See the risk profile of each Asset Class at the end of the brochure.

Objective: The primary objective of this Investment Fund Option is to provide capital conservation, at a high level of safety and liquidity through judicious investments in high quality short-term debt.

Strategy: Generate better return with low level of risk through investment into fixed interest securities having short-term maturity profile.

Objective: The objective of this Investment Fund Option is to generate consistent return through active management of fixed income portfolio and focus on creating long-term equity portfolio, which will enhance yield of composite portfolio with minimum risk appetite.

Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% at low level of risk. This product is suitable for those who want to preserve their capital and earn steady return on investment through higher exposure to debt securities.

Objective: This Investment Fund Option helps build your capital and generate better returns at moderate level of risk, over a medium or long-term period through a balance of investment in equity and debt.

Strategy: Generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.

Objective: This Investment Fund Option helps you grow your capital through enhanced returns over a medium to long term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This Investment Fund Option is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities.

Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.

Objective: The objective of this Investment Fund Option is to achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This Investment Fund Option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time.

Strategy: The strategy is to invest into fixed income securities & maintaining diversified equity portfolio along with active Fund management policyholder's wealth in long run.

Objective: The objective of this Investment Fund Option is to maximize wealth by managing diversified portfolio.

Strategy: The strategy is to invest in high quality equity security to provide long-term capital appreciation with high level of risk. This Investment Fund Option is suitable for those who want to have wealth maximization over long-term period with equity market dynamics.

Guaranteed Additions in the form of additional units will be added to the Fund Value on the 10th policy anniversary and on every 5th policy anniversary thereafter while your policy is in effect. The Guaranteed Addition will be 2% of your average Fund Value in the last 60 months. Your average Fund Value in the last 60 months is equal to the sum of your Fund Value on the monthly date, after monthly deductions, in the 60 policy months immediately preceding the Guaranteed Addition calculation, all divided by 60.

Partial Withdrawals can be made after three Policy Years or when the Life Insured attains maturity (i.e. on or after attainment of age 18) whichever is later.
The minimum Partial Withdrawal amount is Rs.10, 000.

The maximum Partial Withdrawal amount in a Policy Year is any amount subject to the Policy having a balance Fund Value of Rs. 25,000 plus Surrender Charges applicable in the year of Partial Withdrawal and one Annual Policy Premium or top up premiums, if any, made in the last three years whichever is higher.

The plan also offers you the flexibility of surrendering your policy if the need arises. There will be no Surrender Charge on policies surrendered after six completed policy years, which means that the entire Fund Value is payable to you in case you surrender the policy anytime after six policy years till maturity.

However, if the Policy is surrendered within three years from inception, then the Surrender Value will be paid to you after the completion of the third Policy anniversary.

Below 5 yrs: If the death of the Life Insured takes place before the commencement of the Policy Anniversary, coinciding with or immediately following the date when the Life Insured attains the age of five, only the Fund Value shall be payable to the Policy Owner. This is not applicable for the wholelife option.

Between 5 yrs and 60 yrs: Higher of the Fund Value or The Sum Assured less all applicable Partial Withdrawals made in the last 24 months preceding the death of the Life Insured.

60 yrs and above: Higher of the Fund Value or Sum Assured less all applicable Partial Withdrawals made since the Life Insured attained the age of 58.

Tax benefit on premium payment is governed by Section 80C of the Income Tax Act, 1961. Tax exemption on the amounts received by you on maturity or by the beneficiary in the unfortunate event of death and the withdrawals are governed by section 10(10D) of the Income tax Act, 1961.

Accidental Death and Dismemberment Rider:
It provides 100% of coverage in case of death due to accident; loss of more than one limb or sight in both the eyes or in case of loss of one limb and loss of sight in one eye; 50% coverage in case of loss of one limb or sight in one eye

Critical Illness Rider:
It provides a cover in the event of life insured being diagnosed as suffering from any of the four illness specified under the Critical Illness Plus Rider.

Critical Illness Plus Rider:
It provides a cover in the event of life insured being diagnosed as suffering from any of the seventeen illness specified under the Critical Illness Plus Rider.

Critical Illness Woman Rider:
It provides a cover against several critical illness including woman specific illness, pregnancy complications and congenital anomalies in a new born child.
 

Waiver of Premium Rider:
This rider waives payment of future premiums on the happening of any of the unforeseen events as covered under this rider.

Please note that the riders are not available if you are an NRI investor.

For further details, please refer to detailed brochure on riders.

(a) In case the premium is discontinued within first three Policy Years:

If the premium is not received on the premium due date, a grace period of 30 days is given. Even at the end of the grace period if the premium is not received, then the Policy will lapse and all Coverages will terminate immediately.

If the Policy is not revived within two years from the lapse date, the Surrender Value as at lapse date will be paid out at the end of the third Policy Year or at the end of the revival period whichever is later. In case the Policy is surrendered during the Revival Period, then the Surrender Value as at lapse date will be paid out at the end of the third Policy Year or the date of Surrender whichever is later. The Surrender Value will be calculated by deducting the Surrender Charges applicable on the lapse date. The Surrender Value will not be affected by the market fluctuations and will remain constant till the time it is paid out. There will be no deduction of the Policy Charges (as set out in the Policy Charges section) thereafter, from the Surrender Value.

In case of death of the Life Insured during this two year Revival Period the Fund Value as at the lapse date will be paid out. The contract will be terminated when the Surrender Value is paid out.

 (b) In case the premium is discontinued after the first three Policy Years:

If all due premiums have been received for the first three Policy Years and subsequent due premium is not received on the premium due date, a grace period of 30 days is given. At the end of the grace period if the premium is not received, you will be given a period of two years to pay any due and unpaid Policy Premiums. During these two years all Coverages will continue to be in force and all applicable charges will continue to be deducted from the Fund Value till the Surrender Value falls to one Annual Policy Premium. At the end of the two year period we will give you an option to continue the Policy. If you do not opt to continue the Policy, the Policy will be terminated and the Surrender Value will be paid out.

If you decide to continue with the Policy, the Company will not accept further Policy Premium under this Policy. All Coverages will continue to be in force and all applicable charges will continue to be deducted till the Surrender Value falls to one Annual Policy Premium. At this time the Policy will be terminated and the Surrender Value will be paid out

You may opt to continue the Fund Value with BSLI on the Coverage Maturity Date for a further period of five Policy Years.
No Life Insurance Coverage will be provided during the settlement period and hence no Mortality Charges will be deducted. Applicable Fund Management Charges and Administration Charges will be deducted from the Fund Value till it is paid out

 

The Effective Date of Revival is the date on which the above requirements are met and approved by the Company. On this date, the Fund Value as on the lapse date will be re-invested in the Investment Funds at the NAV's applicable on the Effective Date of Revival. All outstanding Policy Charges, if any, for the period between the lapse date and the Effective Date of Revival shall be deducted from the Fund Value.  

We reserve the right to levy a charge subject to our administrative rules then in force to cover the Underwriting costs arising at the time of Revival. The Revival charge currently is Rs 100. This charge cannot exceed Rs. 1000.

In case of non-receipt of premium after the first three Policy Years, you can continue the Policy by contributing any Policy Premium due but unpaid from the date of Premium Discontinuance, within two years from the end of the grace period after non-receipt of premium.

You have a period of 15 days from the date of receipt of the policy document to review the terms and conditions of the policy and where the insured disagrees to any of those terms or conditions, you have the option to return the policy stating the reasons for his objection, when you will be entitled to a refund of the premium paid, subject only to a deduction of a proportionate risk premium for the period on cover and the expenses incurred by the insurer on medical examination of the proposer and stamp duty charges.

The Mortality Charge of the Life Insurance Coverage will be deducted by cancellation of units on a monthly basis at the prevailing NAV. The annual Mortality Charge per thousand of the Sum at Risk (Sum Assured Less the Fund Value) for sample ages are as follows:

Sex/Age (in yrs)	25	35	45	55	65
Female	1.023	1.023	2.385	6.441	15.920
Male	1.083	1.363	3.110	8.571	21.061

 A Policy Administration Charge will be recovered by canceling units on a monthly basis at the prevailing NAV.  The annual Policy Administration Charge per 1000 of the Life Insurance Coverage Sum Assured is given in the table below:

 

The Surrender Value is calculated after deducting the Surrender Charges applicable at the time of surrender. The Surrender charges are levied as a percentage of the Annual Life Insurance Coverage Premium payable. The Surrender Charges levied on this Policy are as per the table below:

Subject to our then current administrative rules, as mentioned earlier you can switch between Investment Fund(s).
Any switch request, whether for single or multiple transfers would be treated as a single switch.

*In a year two switches are free. Every additional switch will be subject to a charge as per the then current administrative rules of the company. Our current Charge for an additional switch is Rs 100/-. The switching charge shall not exceed Rs. 500/-.

@ You can change the Premium Allocation Percentage (using premium redirection facility) free of Charge twice every year. Every additional change is subject to Charge of Rs. 100/-. The charge will not exceed Rs. 500/-.

# In a year only 4 Partial Withdrawals are permitted. Two Partial Withdrawals in every policy year will be free of Charge and every additional Partial Withdrawal will be subject to a Charge of 0.5% of the amount withdrawn. This amount cannot exceed Rs 500/-.

“ If the Life Insured dies by suicide within one year of the issue of the policy or the reinstatement of the Life Insurance Coverage whichever is later, we will not pay the life insurance cover. In such a case, we will refund the higher of the premiums paid towards the policy since the issue date or the Fund Value on the date of death”.

No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

No Policy of Life Insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no Policy of Life Insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which it was effected be called in question by an Insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the Life Insured, or in any other document leading to the issue of the Policy, was inaccurate or false, unless the Insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the Life Insured and that the Life Insured knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the Insurer from calling for proof of age at any time if he is entitled to do so, and no Policy shall be deemed to be called in question merely because the terms of the Policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the application.