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Birla Sun Life Insurance Gold-Plus II
Premiums
Benefits
Policy Charges
Birla Sun Life Insurance
More Information
Terms & Conditions
 
In this policy, the investment risk in investment portfolio is borne by the policyholder.
Highlights
 
  • Eight Fund Options including a 100% equity option - Maximiser: A wide range of investment funds to choose from depending on your risk appetite. Also, a golden opportunity to higher your return on investments by investing in 100% equity option - Maximiser.
  • Manage your investment fund portfolio: Free unlimited switches and premium redirection - The plan allows you to monitor your investment fund performance and change its portfolio according to your preferences at different stages through free unlimited switches and premium redirection.
  • Short pay option-3 pay: Convenient short pay option that allows you to pay your premiums for 3 years only thus avoiding the hassle of paying regular premiums.
  • Premium Flexibility: The plan offers the flexibility to reduce your premiums from the 2nd year depending upon your financial situation.
  • Liquidity: The plan offers good liquidity through Partial withdrawals and Surrender. After three years there is no penalty on surrender of policy. Free unlimited partial withdrawals after 3 policy years allowed subject to a minimum withdrawal amount of Rs. 5000.
Your Future . Your Success
 
The Gold-Plus II Plan which gives you much more than a good insurance cover, an opportunity to grow your investments for the medium term.

It is worth more than Gold.

It is Gold Plus II Plan
Birla Sun Life Insurance Gold-Plus II Plan
 

This plan is a unit linked, non-participating, insurance plan for duration of 8 years. A simple, hassle free plan it helps you strike the right proportion between protection and savings. Our plan offers you the convenience of paying for a limited period of 3 years with the flexibility to reduce premium (subject to minimum of INR 10000) from the second policy year onwards without reduction in sum assured. The plan, also offers you the benefits of top-up besides providing liquidity in the form of partial withdrawals and surrender benefits.

Our plan has seven fund options, which empowers you with the flexibility of allocating premiums in varying proportions into different fund options and achieves superior investment returns. Free unlimited switches and premium redirection give you an opportunity to optimize your returns.

Eligibility
 
  • Entry Age: 18 yrs to 70 years.
  • Minimum Premium: INR 50, 000.
  • Minimum Sum Assured: 5 x annual premium.
Before you continue reading...
 

All Unit Linked life insurance plans are different from traditional insurance plans and are subject to different risk factors. The name of the investment funds and that of this plan do not in any way indicate the quality of the plan or future returns.

In this plan, the investment risk in the investment funds chosen by you is borne by you. Investment funds are subject to investment risks and unit prices may go up or down reflecting the market value of the underlying assets. Past performance is no guarantee of future results.

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Premiums
 

You can choose your desired premium and the sum assured.

  • Premium Payment Frequency
You can pay the policy premium monthly (through ECS only), quarterly, half-yearly or annually.
  • Premium Paying Mode
    You can pay your policy premium by cash (up to INR 50,000), cheque, credit card, salary deduction, ECS and direct debit.
  • Top-Up Premium
    You can top-up the fund whenever you have additional savings prior to the maturity of the policy. The minimum top-up premium is INR 5,000.
    The sum assured in the plan will increase if the top-up amount exceeds 25% of the policy premium paid till date. The additional sum assured will be 125% of the excess top- up premium and is subject to the administrative and underwriting rules of the company.
Investing Your Premiums
 

We offer seven investment funds to suit your particular investment needs - Assure, Protector, Builder, Enhancer, Creator, Magnifier and Maximiser. If you wish to diversify your risk, you can choose to allocate your premium in varying proportions amongst the available investment fund options. You can switch between the fund options or change the allocation into the various funds anytime during the tenure of the policy. The minimum switch amount is INR 5000.

Assure
Objective: To provide capital conservation, at a high level of safety and liquidity through judicious investments in high quality short-term debt.

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

Protector
Objective: To generate consistent returns through active management of a fixed income portfolio and focus on creating a long-term equity portfolio, which will enhance the yield of the 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 investment fund is suitable for those who want to preserve their capital and earn a steady return on investment through higher exposure to debt securities.

Builder
Objective: To build 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: To generate better returns with moderate level of risk through active management of a fixed income portfolio and focus on creating a long-term equity portfolio, which will enhance the yield of the composite portfolio with low level of risk appetite.

Enhancer
Objective: To grow 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 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 a diversified equity portfolio and seek to earn regular returns on the fixed income portfolio by active management resulting in wealth creation for policy owners.

Creator
Objective: 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 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: To invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholder's wealth in long run.

Magnifier
Objective: To maximize wealth by managing diversified portfolio.

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

Maximiser
Objective: To provide long term capital appreciation by actively managing a well-diversified equity portfolio of fundamentally strong blue chip companies. Further, the fund seeks to provide a cushion against the sudden volatility in the equities through some investments in short-term money market instruments.

Strategy: To build and actively manage a well-diversified equity portfolio of value and growth driven stocks by following a research focused investment approach. While appreciating the high risk associated with equities, the fund would attempt to maximize the risk-return pay off for the long-term advantage of the policyholders. The fund will also explore the option of having exposure to quality mid cap stocks. The non-equity portion of the fund will be invested in good rated (P1/A1 & above) money market instruments and fixed deposits. The fund will also maintain a reasonable level of liquidity.

Multiplier
Objective: To provide long-term wealth maximization by actively managing a well-diversified equity portfolio, predominantly comprising of companies whose market capitalization is close to Rs. 1000 crores and above.

Strategy: To build and actively manage a well-diversified equity portfolio of value & growth driven stocks by following a research driven investment approach. The investments would be predominantly made in mid cap stocks, with an option to invest 30% in large cap stocks as well. While appreciating the high risk associated with equities, the fund would attempt to maximize the risk-return pay-off for the long-term advantage of the policyholders. The fund will also maintain reasonable level of liquidity

See Schedule A below for specifics on each investment fund.

We record your allocation instructions as per the premium allocation percentage, and our only requirement is that the percentage allocated to each investment fund be in increments of 5%, ranging from 0% to 100%.

For added flexibility, you can at any time:

  • Use our premium redirection facility and change your premium allocation percentage applicable to future policy premiums and top-up premiums; and
  • Switch part or all of your allocated units in one investment fund to another at the then prevailing unit prices.
Keeping Track Of Your Investments
 
  • BSLI will send you an annual policy statement giving details on the number of units and their unit price, held by you under the various investment funds as of the last policy anniversary.
  • The unit price of the various investment funds will be available on our website www.birlasunlife.com, as well as in the newspapers.
Accessing Your Investments
 

Fund Value is the balance of all units allocated to your policy multiplied by their respective then prevailing unit price.

Partial Withdrawals
You are allowed to make unlimited partial withdrawals after 3 policy years, free of cost. The minimum withdrawal amount is INR 5,000. The maximum partial withdrawal you can make is the excess, if any, of the fund value over the higher of:

  • INR 30,000; or
  • Top-up premiums paid by you during the three years preceding the partial withdrawal date.

Policy Surrender
The policy can be surrendered any time during the tenure of the policy subject to a surrender charge. The surrender charges will be zero from the 4th policy year. In case of surrender in the first 3 policy years the benefits will be paid out only after the 3rd policy year. The surrender value as of the date of your surrender remains constant till paid to you.

Policy Loans
We do not offer this facility on this plan.

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Benefits
 

Maturity Benefit
On maturity, your fund value will be paid to you.

Death Benefit
In the unfortunate event of the death of the life insured prior to the maturity date of the policy, we will pay to the nominee the greater of (a) the fund value or (b) the sum assured reduced for partial withdrawals as follows:

  • Before the life insured attains the age of 60, the sum assured payable on death is reduced by partial withdrawals made in the preceding two years.
  • Once the life insured attains the age of 60, the sum assured payable on death is reduced by all partial withdrawals made from age 58 onwards.
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Policy Charges
 

 Premium Allocation Charge

Premium allocation charge is deducted from your policy premium when received and before units are allocated. It is guaranteed to never increase. See Schedule B.

 Fund Management Charge

A fund management charge not exceeding 1.5% p.a. of the fund value will be charged by adjustments of the daily unit prices. The charge is 1% p.a. for funds Assure, Protector, Builder, and Enhancer and for Creator, Magnifier, Maximiser funds it is 1.25% p.a.

 Policy Administration Charge

A policy administration charge will be recovered by canceling units on a monthly basis proportionately from each investment fund. See Schedule B for the annual rate per 1000 of sum assured. We may increase this charge at any time after the 3rd policy year, subject to a maximum increase of 5% p.a. since inception.

 Mortality Charge

Mortality charge will be deducted on a monthly basis. We will take these charges by canceling units proportionately from each of the investment funds at that time.

The annual rates per 1000 of sum at risk (sum assured less fund value) for sample ages are provided in table below for your reference. Please visit our website or ask your financial advisor for the rates applicable to you. It is guaranteed never to increase

Sex/Age (in years)
25
35
45
55
65
Female
1.023
1.162
2.385
6.441
15.92
Male
1.083
1.363
3.110
8.571
21.06

 Surrender Charge

The surrender charge is applied if and when you surrender your policy in the first 3 policy years. The surrender charge as a percentage of the annual policy premium chosen at issue is shown in Schedule B.

 IRDA Approval

Only when specified and within stated limits, we may increase a particular charge at any time in the future. We, however, need to get prior approval from the IRDA before such charge increase is effective. Otherwise, all other charges in this policy are guaranteed to never increase during the tenure of the policy.

 Schedule A

Investment Fund Option
Risk Profile
Asset Allocation *
Min.
Max.
Assure
Very Low
Debt Instruments, Money Market & Cash
100%
100%
Equities & Equity Related Securities
0%
0%
Protector
Low
Debt Instruments, Money Market & Cash
90%
100%
Equities & Equity Related Securities
0%
10%
Builder
Low
Debt Instruments, Money Market & Cash
80%
90%
Equities & Equity Related Securities
10%
20%
Enhancer
Medium
Debt Instruments, Money Market & Cash
65%
80%
Equities & Equity Related Securities
20%
35%
Creator
Medium
Debt Instruments, Money Market & Cash
50%
70%
Equities & Equity Related Securities
30%
50%
Magnifier
High
Debt Instruments, Money Market & Cash
10%
50%
Equities & Equity Related Securities
50%
90%
Maximiser
High
Debt Instruments, Money Market & Cash
0%
20%
Equities & Equity Related Securities
80%
100%

* In each Investment Fund Option, the Money Market & Cash asset allocation will not exceed 40%.

 Schedule B

Policy Charges
Policy Years
1
2
3
4+
Premium Allocation Charge on policy premium
8%
4%
4%
---
Premium Allocation Charge on top-up premium
2%
2%
2%
2%
Policy Administration Charge*
 19.4
 19.4
 19.4
14.4
Surrender Charge
15%
12.5%
10%
Nil

* per 1000 sum assured up to INR 50,000. An additional 5 per 1000 will be charged in the first three policy years only on any excess sum assured over INR 50,000.

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Birla Sun Life Insurance
 

 BIRLA SUN LIFE INSURANCE - A COMING TOGETHER OF VALUES

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 of close to Rs. 49,440 crores, with a market capitalisation of Rs. 82,400 crores (as on 31st March 2007). It has over 88,000 employees across all its units worldwide. It is led by its Chairman - Mr. Kumar Mangalam Birla. Some of its key companies are Hindalco, Grasim and Aditya Birla Nuvo.

Sun Life Financial Inc. and its partners, have operations in key markets worldwide. These include Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Sun Life Financial Inc. has assets under management of over US$386.82 billion (as on 31st March, 2007). It is a leading performer in the life insurance market in Canada.

Birla Sun Life Insurance (BSLI) has been operating for 6 years. It 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. BSLI has covered more than a million lives since it commenced operations. And its customer base is spread across more than 1000 towns and cities in India. The company has a capital base of Rs. 777 crores as on 31st July 2007.

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More Information
 

 Current Tax Benefits
You will be eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

  • Under Section 80C, premiums up to INR 100,000 are allowed as a deduction from your taxable income each year.
  • Under Section 10 (10D), the benefits you receive from this plan are exempt from tax, subject to mentioned exclusions.

 Service Tax and other levies
Service Tax and other levies, as applicable, will be levied as per the extant tax laws.

 Premium Discontinuance
If you are unable to pay the policy premium by the due date, you will be given a grace period of 30 days during which time all coverages under the policy will continue. If we do not receive the entire policy premium by the end of the grace period the insurance under your policy will cease and your fund value will be held in suspense after deduction of surrender charges. You will then have two years from the lapse date to revive your policy.

If the policy is not revived by the end of the two-year revival period, we will terminate the contract and pay the surrender value as of the lapse date to you at that time or at the end of the third policy year, whichever is later. The current charge for revival is INR 100. We reserve the right to increase this charge at any time, subject to a maximum of INR 1000.

If the life insured dies while the policy is not yet revived, we will pay the fund value as of the lapse date immediately and terminate the contract.

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Terms & Conditions
 

 Unit Price

On each business day and for each investment fund, we determine the unit price by dividing the net asset value (NAV) of the investment fund at the valuation time by the number of units in existence for the investment fund in question. We publish the unit prices of all investment funds on our website www.birlasunlife.com as well as in the newspapers.

The NAV is determined based on whether we are purchasing (appropriation price) or selling (expropriation price) assets in order to meet the daily transactions of unit allocations (redemptions) associated with the investment fund. When appropriation (expropriation) price is applied, the NAV of the investment fund is the market value of investment held by the fund; plus (less) the expenses incurred in purchasing (selling) assets; plus the value of current assets; plus any accrued income net of fund management charges; less the value of any current liabilities or provisions. This NAV divided by the number of units existing on the valuation date, before units are allocated (redeemed), gives the amount of money we put in to (take out of) the investment fund per unit allocated (redeemed).

 Suicide

We will refund higher of the fund value or policy premiums paid to date in the event the life insured dies by suicide, whether medically sane or insane, within one year after the issue or revival date, whichever is later.

 Free-Look Period

You will have the right to return your policy to us within 15 days from the date of receipt of the policy. We will pay the fund value plus all charges levied till date (excluding the fund management charge) once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents.

 Section 41 of the Insurance Act, 1938

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.

 Section 45 of the Insurance Act, 1938

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 policyholder and that the policyholder 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.

Risk Factors & Disclaimers

This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI). This is a non-participating unit linked savings plan. Birla Sun Life Insurance, Gold-Plus II, Assure, Protector, Builder, Enhancer, Creator, Magnifier and Maximiser are only the names of the Company, Policy and the Investment Funds respectively and do not in any way indicate the quality of the Policy, Investment Funds or their future prospects or returns. The charges mentioned above are applicable to all the seven Investment Funds offered at present. Only the policy administration charge and fund management charge can be modified by the company subject to specified limits and approval of the IRDA. The value of the Investment Fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in Unit Linked Life Insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of Investment Fund and factors influencing the capital market and the policy owner is responsible for his/her decisions. There is no guarantee or assurance of returns from the Investment Funds. BSLI reserves the right to recover levies such as the Service Tax levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. This brochure contains the salient features of the plan. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of the solicitation. For more details and clarification call your BSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.

UIN No. - 109L035V01

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Angel Financial Advisors Pvt. Ltd. is corporate agent of Birla Sun Life Insurance & ICICI Lombard. Licence no with IRDA. 3834662.
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