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Birla Sun Life Insurance Saral Jeevan Plan
 
In this policy, the investment risk in investment portfolio is borne by the policyholder.
We make your life Saral.
 
In today's increasingly complex world, evolving simple solutions is important. Which is why Birla Sun Life Insurance has simplified buying a life insurance policy with its new plan -Birla Sun Life Insurance Saral Jevan.All you have to do is agree to three simple health-related statements and you are covered immediately. What's more, there are no medical examinations, thus helping you save on effort and time.

The BSLI Saral Jeevan plan provides the dual benefit of protection and investment. So it is the ideal policy if you want to secure your life and build wealth at the same time.
Get Birla Sun Life Insurance Saral Jeevan Plan
 
This plan provides you easy and immediate life insurance cover. Just agree to 3 health-related statements and your life will be covered immediately. There are no medical tests.
The 3-step saral process:
 
  • Complete a simple application form, which includes illustrations suitable for you.
  • Agree to 3 health-related statements.
  • Make your payment and submit the required documents - identity, residence, income and age proof.
 
Get your life insurance cover immediately.
Why buy Birla Sun Life Insurance Saral Jeevan Plan
 
  • An easy and simple plan: An easy life insurance plan to buy due to simple processes.
  • Earn efficient returns - New Multiplier Fund: Choose from a wide range of 8 fund options including the new Multiplier fund for allocating your premiums, depending on your risk profile.
  • Match your risk profile at every stage: Free unlimited switches and premium redirection give you an opportunity to always have control of your fund and optimize your returns.
  • Tax benefits: Avail of tax benefits under Section 80C and Section 10(10 D).
  • Choose your mode of premium payment: Pay your premiums at your convenience through the various payment options on an annual, semi-annual, quarterly or monthly mode.
  • Death benefit with a PLUS: Your nominee will receive both sum assured and fund value in the unfortunate event of death.
  • Unmatched Liquidity: Free unlimited partial withdrawals are allowed from your fund value after 3 policy years. Also, zero surrender charges after 3 policy years.
 
BSLI Saral Jeevan plan comes with a bouquet of benefits, which fulfill your needs of life cover and investment at an affordable price. To know more read on.
Who can buy this plan and what is the duration of this plan?
 
If you are between the age of 18 and 55 years, you are eligible to buy this plan. You have an option of three policy terms - 10 years, 15 years and 20 years, provided your age at maturity is 65 or less.
The fastest, easiest and simplest life cover.
How to buy this policy?
 
Just agree to three health-related statements in the application form. Submit the application form along with cash/local cheque, your photograph and the required documents - identity, residence, income and age proof. You get immediate life cover after this simple process.
A Saral life insurance cover that comes at an affordable price...
What is the sum assured for this plan?
 
You have the option to choose as many Covers to meet your insurance needs. Each Cover represents Rs.10000 sum assured. The minimum number of Covers is 6, 9, and 12 for a policy term of 10, 15 and 20 years respectively. The maximum number of Covers is 100.
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Premiums
 
 What is the premium amount and the duration of paying premium?
Your premium amount is available in the application form and is payable throughout the term of the policy.
 
 What are the various premium payment options?
You may pay your premiums at your convenience i.e. annually, half-yearly, quarterly and monthly (ECS and Salary Deduction only). Also, you have the option to pay your premiums through cash (upto Rs.50,000), cheque/ demand draft, credit card, salary deduction, ECS and direct debit.
Wide range of 8 investment fund options giving you an opportunity to increase your returns.
 
 What are the various investment fund options available in this plan?
Choose from 8 investment fund options to match your risk profile. If you wish to diversify your risk, you may allocate your premiums in varying proportions in the 8 fund options. You have the benefit of allocating your premiums in the new fund option - Multiplier that has been introduced along with this plan.
You may select the fund options, based on your risk preference and switch between the investment funds based on market performance.
 
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
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Investment Fund
 
 The portfolio of different investment fund options is given below:
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%
Multiplier
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%.
  • Free Unlimited Switches allowed between the investment funds to suit your risk profile anytime during the year.
 Do I have the flexibility to change my fund allocation according to the change in my risk profile?
Yes, you can switch* between the investment funds and redirect* your premiums in various funds anytime during the year. Thus you can create your own fund to match your risk. All this comes absolutely free of charge. There are no charges for switching between investment funds in part or full and redirection of your premiums.
*The premium re-direction can be made in each fund from 5% to 100% in the increments of 5%. Switch from one fund to another fund in full or part is allowed, for a minimum switch of Rs. 5000.
 How do I keep track of the performance of my policy?
We provide our customers with a high level of transparency in all our plans to put them in total control. Keeping track of your investment is easy with us
  • We will send you an annual statement detailing the number of units you have in each investment fund and their respective unit price as of the last policy anniversary; and
  • We publish the unit prices of all investment funds on our website www.birlasunlife.com as well as in the newspapers.
 What will I get at the end of the policy term?
You will get the fund value.
Ensure the best security for your loved ones: sum assured plus fund value as death benefit.
 What amount will the nominee get in the unfortunate event of the death of life insured?
The nominee will receive the sum assured plus the fund value in the unfortunate event of death of life insured.
Liquidity at the back of your hand with unlimited free partial withdrawals and zero surrender charges after 3 policy years.
 When and how can I surrender my policy?
The plan offers the flexibility of surrendering the policy if the need arises, anytime during the tenure of the policy. The surrender benefit will be the fund value after deducting the surrender charges. There will be no surrender charge from the 4th policy year.
However, if the policy is surrendered before completing 3 policy years, the surrender benefit will be paid only at the end of third policy year. The surrender value as of the date of your surrender remains constant till paid to you.
 Can I make partial withdrawals from my policy?
You are allowed to make unlimited partial withdrawals after 3 policy years, free of cost. The minimum amount of partial withdrawal is Rs. 5000. There is no maximum limit subject to a balance of fund value equal to Rs. 12000.
An opportunity to increase your returns at minimum cost.
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Policy Charges
 
 What are the charges applicable in this policy?
 
  • Premium Allocation Charge
    No premium allocation charge is deducted from your policy premium. This means all of your policy premium will be invested in the investment funds of your choice.
  • Fund Management Charge
    The daily unit price of each investment fund is adjusted to reflect the fund management charge. We may increase this charge any time in the future subject to a maximum of 1.50% per annum for all fund options except Multiplier at 1.75% per annum.
    per annum & reflected daily in Unit Price
    Investment Fund
    Investment Fund
    Assure
    1.00%
    Creator
    1.25%
    Protector
    1.00%
    Magnifier
    1.25%
    Builder
    1.00%
    Maximiser
    1.25%
    Enhancer
    1.00%
    Multiplier
    1.50%
  • Policy Administration Charge.
    The policy administration charge will be deducted monthly by canceling units proportionately from each investment fund you have at that time.
    This charge is guaranteed to never increase for the first three years, after which it can be increased by no more than by 5% per annum since inception.
    monthly per Cover *
    Policy
    Policy Term
    Year
    10 Years
    15 Years
    20 Years
    1 to 3
    Rs. 29.0
    Rs. 26.0
    Rs. 25.0
    4 onwards
    Rs. 4.0
    Rs. 3.0
    Rs. 2.5
    plus Rs. 40 (on the first Cover only)
  • Mortality Charge
    Every month we will deduct a mortality charge for providing you with the death cover. We will take these charges by canceling units proportionately from each of the investment funds at that time.
    The charge depends on the policy term as well as the age and gender of the life insured. This charge is guaranteed to never increase. Sample rates are provided for your reference.
    monthly per Cover *
     
    Issue Age
     
    25
    35
    45
    55
    Policy Term
    Male
      10 Years
    1.77
    2.35
    4.77
    11.27
      15 Years
    1.92
    2.65
    5.48
      20 Years
    2.41
    3.28
    6.46
    Policy Term
    Female
      10 Years
    1.73
    2.04
    3.73
    8.76
     15 Years
    1.85
    2.27
    4.29
      20 Years
    2.33
    2.84
    5.12
    Please refer to the application form for the rate applicable to you.
  • Surrender Charge
    The surrender charge is applied if and when you surrender your policy in the first 3 policy years. The amount you will receive will be the fund value less this charge. This charge is guaranteed to never increase.
    per Cover *
    Policy
    Policy Term
    Year
    10 Years
    15 Years
    20 Years
    1
    Rs. 1044
    Rs. 936
    Rs. 900
    2
    Rs. 696
    Rs. 624
    Rs. 600
    3
    Rs. 348
    Rs. 312
    Rs. 300
    4 onwards
    nil
    nil
    nil
    * Cover: sum assured in Saral Jeevan plan is available in easy Covers of Rs. 10000 each. One Cover = Rs. 10000 sum assured.
  • Revival Charge
    The current charge for policy revival is Rs. 100. We may increase this charge at any time in the future subject to a maximum of Rs. 1,000, subject to IRDA approval.
   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.
   
   What happens if I miss out paying my premiums?
 
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 insurance cover under your policy will continue.

If you do not pay your premium within the grace period of 30 days, the following will be applicable:
 
  • During the first three policy years - Your policy will lapse 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. This net fund value will be paid out to you only at the end of the third policy year or the end of the two-year revival period, whichever is later. You can revive your policy within two-years from its lapse date (due date of unpaid policy premium) by paying all outstanding policy premiums and providing us with evidence of insurability satisfactory to us.
    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.
  • After three completed policy years - If we do not receive the entire policy premium by the end of the grace period, then you will be given a period of two years (starting on the due date of the unpaid policy premium) to pay all outstanding premiums till date. Your policy will continue during these two years, as well as all insurance cover and charges. At the end of this two-year period, we will give you the choice to either surrender your policy or continue it without the payment of additional policy premiums. Your policy will, however, be deemed as surrendered should your fund value equals one annual policy premium.
   What if I change my decision of buying the policy?
 
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.
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Terms & Conditions
 
 Service Tax
Service Tax and Education Cess is payable by you at the applicable rates on the risk charges when due.
 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 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.
 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.
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Birla Sun Life Insurance
 
 About Birla Sun Life Insurance
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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Risk Factors & Disclaimers

This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI). This is a non-participating unit linked endowment plan. Birla Sun Life Insurance Saral Jeevan, Assure, Protector, Builder, Enhance, Creator, Magnifier Maximiser and Multiplier 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 eight 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 - 109L034V01

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