Birla Sun Life Insurance Wealth Secure Plan that combines long-term savings and whole life coverage specially designed for you to focus on your goals and maximize savings for your future.
Eligibility Criteria | |
Age at Entry (Min) | 1yr to 60 years |
Maximum Maturity Age | Whole Life |
Policy Term | Whole Life |
Premium Paying Term (PPT) | 5 to 30 years |
Minimum PPT | Attained age at the end of PPT must be 18 years or more |
Maximum PPT | Attained age at the end of PPT must be 75 years or less |
Basic Premium | Minimum Rs. 20,000 p.a. if paid annually |
Minimum Rs. 30,000 p.a. if paid Semi-Annually | |
Minimum Rs. 60,000 p.a. if paid Monthly or Quarterly | |
Top-up Premium | Minimum Rs. 5,000/- |
Under BSLI Wealth Secure Plan, you decide how to invest your premiums in one of the three investment options - LifeCycle Option, Systematic Transfer Option or the Self-Managed Option. At any time after one year while your policy is in effect, you can change your investment option.
Under the LifeCycle Option, your portfolio will be structured as per your age and risk profile – all you need is to decide on your risk profile – Conservative, Moderate or Aggressive. Your portfolio will then be managed and administered by us, saving you the time and effort involved. We automatically shift your investments from riskier assets to safer assets progressively with your age.
We will invest your premiums between the two investment funds, Maximiser (Equity Fund) and Income Advantage (Debt Fund) in a predetermined proportion based on the selected risk profile and your age when the premium is invested. Details about these two funds are explained later.
The proportion invested in Maximiser (Equity Fund) will be according to the schedule given below – the remaining amount will be invested in Income Advantage (Debt Fund):
Age (years) | Risk Profile | ||
Conservative | Moderate | Aggressive | |
1-30 | 50% | 70% | 90% |
31-40 | 40% | 60% | 80% |
41-50 | 30% | 50% | 70% |
51-60 | 15% | 35% | 55% |
61-70 | 0% | 20% | 40% |
71+ | 0% | 5% | 25% |
For example – if person A aged 35 years, opts for LifeCycle Option and a moderate risk profile, then based on the age and the risk profile, the investment portfolio will change with time as below:
Age (years) | Percentage of Investments in | |
Maximiser | Income Advantage | |
31-40 | 60% | 40% |
41-50 | 50% | 50% |
51-60 | 35% | 65% |
61-70 | 20% | 80% |
71+ | 5% | 95% |
You can change your risk profile at any time with no additional cost. All premiums paid from that point onwards will be invested in the Maximiser and Income Advantage according to your new risk profile.
We will automatically rebalance your investment portfolio on each policy anniversary to ensure that it maintains the predetermined proportion in Maximiser and Income Advantage as per the risk profile you have selected at no additional charge.
The Systematic Transfer Option safeguards your wealth against the market volatilities and is available only if you have opted for annual mode. Under the Systematic Transfer Option, your premium (net of premium allocation charge) shall be first allocated to Liquid Plus fund option and thereafter 1/12th of the allocated amount shall be transferred to an investment fund of your choice. You may choose any one investment fund out of Enhancer, Multiplier, Super 20, Pure Equity and Value & Momentum for your premiums to be transferred to. The transfers to your chosen investment fund will take place monthly on 1st, 8th, 15th or 22nd of the month as selected by you.
This option helps mitigate any risk arising from volatility and averages out the risks associated with the equity market, reducing the overall risk to your portfolio.
For example – if person A aged 35 years, opts for Systematic Transfer Option with transfers on the 15th of every month to Super 20.
Premium/s net of premium allocation charges will be allocated in Liquid Plus Fund and th th thereafter on the 15th of every month, 1/12th of initially allocated amount shall be automatically transferred to Super 20 Fund.
Self-Managed Option gives you access to our well-established suite of 13 investment funds, complete control in how to invest your premiums and full freedom to switch from one investment fund to another.
Our 13 investment funds range from 100% debt to 100% equity to suit your particular needs and risk appetite - Liquid Plus, Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier, Super 20, Pure Equity and Value & Momentum. If you wish to diversify your risk, you can choose to allocate your premium in varying proportions amongst the 13 investment funds. We record your allocation instructions as per the premium allocation percentages specified in the application form. Our only requirement is that the percentage allocated to any investment fund be in increments of 5%, ranging from 5% to 100%.
To meet your ever changing investment needs, you have full flexibility to redirect future premiums by changing your premium allocation percentages at any time. You also have full flexibility to switch monies from one investment fund to another at any time provided the switched amount is for at least Rs. 5,000.
Not Available
Charges | ||||||
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Discontinuation Charge | The charge is for discontinuing the plan before the end of the Policy Tenure. | |||||
Year of Discontinuation | Annual Premium > Rs 25,000 p.a. | |||||
1st | Lower of 6% of (Annual Premium or Fund Value) subject to a max. of Rs 6,000 | |||||
2nd | Lower of 4% of (Annual Premium or Fund Value) subject to a max. of Rs 5,000 | |||||
3rd | Lower of 3% of (Annual Premium or Fund Value) subject to a max. of Rs 4,000 | |||||
4th | Lower of 2% of (Annual Premium or Fund Value) subject to a max. of Rs 2,000 | |||||
5th onwards | NIL | |||||
Premium Allocation Charge | ||||||
Policy Year | Premium Allocation Charge | |||||
1st and 2nd Year | 6.00% of the basic premium payable | |||||
3rd and 6th year | 5.50% of the basic premium payable | |||||
7th year | 5.00% of the basic premium payable | |||||
Notes :- A premium allocation charge of 2% is levied on any top-up premium when paid. | ||||||
Fund Management Charge | ||||||
Type | Charge | |||||
Liquid Plus Fund | 1% p.a. | |||||
Income Advantage Fund | 1% p.a. | |||||
Assure Fund | 1% p.a. | |||||
Protector Fund | 1% p.a. | |||||
Builder Fund | 1% p.a. | |||||
Enhancer Fund | 1.25% p.a. | |||||
Creator Fund | 1.25% p.a. | |||||
Magnifier Fund | 1.35% p.a. | |||||
Maximiser Fund | 1.35% p.a. | |||||
Multiplier Fund | 1.35% p.a. | |||||
Super 20 Fund | 1.35% p.a. | |||||
Pure Equity Fund | 1.35% p.a. | |||||
Value & Momentum Fund | 1.35% p.a. | |||||
Note:- We may change the Fund Management Charge under any investment fund at any time subject to a maximum of 1.35% p.a. in the future subject to IRDA approval. |
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Policy Administration Charge: | ||||||
The policy administration charge is Rs. 20 per month for the first five policy years | ||||||
It shall increase to Rs. 25 per month in the sixth year and inflate at 5% p.a. thereafter, subject to a maximum of Rs. 6,000 p.a. | ||||||
This charge is deducted at the start of every month by cancelling units proportionately from each investment fund the customer might have at that time. | ||||||
Mortality Charge | ||||||
Mortality charge is deducted at the start of every month for providing the insured with the risk cover. | ||||||
The charge per 1,000 of Sum at Risk will depend on the gender and attained age of the life insured. | ||||||
Attained Age | 25 years | 35 years | 45 years | 55 years | 65 years | |
Male | 1.546 | 1.753 | 3.04 | 7.064 | 16.267 | |
Female | 1.502 | 1.605 | 2.505 | 5.494 | 13.197 | |
Miscellaneous Charges | ||||||
Charge Rs. 50 per request for premium re-direction, fund switch and partial withdrawal, reserve the right to charge up to Rs. 500 per request in the future. Present charges are Rs. 100 per policy revival. the charges might increase in the future subject to a maximum of Rs. 1,000 per revival. |
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Know Claim process of BSLI Wealth Secure Plan
Aditya Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organizations from Canada.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.