i need a review on the birla sun life dream plan.?



Please tell me if it is a good product for taking cover. How does it compare with term plans? Also if it is not so good then what is a cheap and an efficient product?

i need a review on the birla sun life dream plan.?
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4 Replies to “i need a review on the birla sun life dream plan.?”

  1. The main advantage associated with Birla Sun Life’s new Dream Plan is it gives you a guaranteed maturity benefit that you set yourself. Birla Sun Life’s new Dream Plan is basically a top-down plan meaning that you set a target at the completion of the term and pay the premium on the basis of your target.

    In an ideal scenario, a small sum is directed towards your insurance needs, which you can enhance depending on your needs. The policyholder is always guaranteed the maturity amount chosen and because of this he or she can plan his requirements.

    In general, the policy period can vary from five to twenty five years but only for individuals between 18-60 years of age. It has come into the notice of The India Street that there are three choices under the guaranteed maturity benefit scheme, namely, 100 percent, 200 percent and 300 percent.

    Fund values and guaranteed values will be minimized every month by reducing the units. It is worth mentioning in this regard that there is a fund management charge of 1 percent per annum. Talking about the limitation of Birla Sun Life’s new Dream Plan, for a basic sum assured, the charges are quite steep.

    It is 8.45 percent for the first three years in a term of five years for a basic sum assured of Rs 1,133 and 12.26 percent for the remaining under the 100 percent maturity option. Remember that these charges vary as per different bands set under the policy. In my opinion, the overheads are very steep and the guarantee of 3 percent is not too exciting. Although, the plan does allow you to choose a mix of targets and options on offer- but that by itself does not really make it a dream plan.


  2. I was also offered this product as a replacement of term plan. This plan has less mortality charge & charge is constant for complete term (unlike other plans). So I was able to cover myself for 30L & effective investment of 1500 by paying annual premium of about 8500/-. If I compare it to my SBI term plan of 15L cover (premium 4284/- for same term) , I was definitely saving 1500/- (as 30 L term cover in SBI will cost about 8550 & have no saving component). Though I have not read the fine print of policy application form.

    This is a ULIP, which you can customise as a cheaper term plan. Do not think about investment but about insurance while you take this plan. If you have more investment component then this plan is not good & have too much cost.

    I found SBI & Religare term products cheaper then all other options. Please check the premium of the sum assured you have planeed & then check Dream plan if you are getting some investment also by paying same or less premium then term plan for same sum assured.

    Please mail me if you need more info.


  3. The main advantage associated with Birla Sun Life’s new Dream Plan is it gives you a guaranteed maturity benefit that you set yourself. Birla Sun Life’s new Dream Plan is basically a top-down plan meaning that you set a target at the completion of the term and pay the premium on the basis of your target.

    In an ideal scenario, a small sum is directed towards your insurance needs, which you can enhance depending on your needs. The policyholder is always guaranteed the maturity amount chosen and because of this he or she can plan his requirements.

    Read the full details here
    http://www.theindiastreet.com/2007/08/review-of-birla-sun-lifes-new-dream.html


  4. Apollo DKV insurance is the leading provider of health insurance in India. There products are cheap and affordable health insurance, medical cover, individual health insurance, group health insurance and family health insurance plans in India.





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