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BSLI Platinum Advantage Life Insurance Plan for NRI

Discussion in 'Life insurance' started by real_buzz, Dec 13, 2012.

  1. real_buzz Moderator

    BSLI Platinum Advantage Life Insurance Plan for NRI
    BSLI Platinum Advantage Life Insurance Plan is a life insurance product offered by birla sun life insurance Company to NRIs.As an informed investor, you appreciate the potential of equity markets to generate wealth over the long term. You also understand that market volatility can impact your investments, and hence you are looking for Investment Options that enable you to diversify your risk to suit your investment needs. You also want options that can lock in your gains and safeguard your investments from potential downsides.

    BSLI Platinum Advantage Plan
    This Plan gives you the advantage to choose from 2 Investment Options – Guaranteed Option and Self-Managed Option. With the Guaranteed Option your investments in the Platinum Advantage Fund are safeguarded from any downsides in the capital markets. And you also have options to enhance the financial security of your loved ones, at a nominal additional cost.

    This plan offers you:
    A 10-year plan with a 5-year Pay Term
    Option to enhance the financial security for your loved ones
    Complete control on your investments

    How BSLI Platinum Advantage Plan works:
    You choose the Basic Premium you want to pay annually for 5 years
    You choose your Investment Option from Self-managed Option or Guaranteed Option
    You choose the Enhanced Sum Assured and increase the financial protection of your loved ones
    You choose from our range of riders and safeguard your family's financial future

    Plan Summary
    Entry Age of Life Insured--8 to 70 years of age
    Policy Term--10 years
    Pay Term--5 years
    Basic Premium--Minimum Rs. 25,000 p.a. if paid annually Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semi-annually
    Premium Payment Frequency--Monthly, Quarterly, Semi-annually or Annually
    Basic Sum Assured--10 x Basic Premium for entry ages below 45 7 x Basic Premium for entry ages 45 and above
    Enhanced Sum Assured--Minimum Rs. 50,000
    Entry Age-- 18 to 65 years

    Self-Managed Option: The Self-Managed Option gives you complete access to invest your premiums in our well established suite of 10 Investment Funds, ranging from 100% debt to 100% equity. You also enjoy full freedom to switch from one Investment Fund to another, as per your changing requirements.
    • Choose from our range of 10 Investment Funds, to suit your risk appetite
    • Allocate your savings the proportion of your choice
    • Change your allocations as per your changing requirements
    Guaranteed Option: The Guaranteed Option allows you to invest your first three annual premiums in our Platinum Advantage Fund. This Fund comes with a guarantee of the highest unit price recorded on a daily basis over 7 years. It offers optimal participation in capital market growth, while safeguarding your investments and any gains thereon. We open a new Platinum Advantage Fund from time to time and your policy will participate in the latest Platinum Advantage Fund open for new business when your policy
    Based on your choices you will receive a host of benefits as below:

    Maturity Benefit: You will receive the Fund Value at maturity. In addition, you will receive an amount equal to the number of units in Platinum Advantage Fund times the excess, if any, of Guaranteed Unit Price over the then prevailing unit price of this Investment Fund, if you have opted for Guaranteed Option .
    Death Benefit: In the unfortunate event of the death of the life insured prior to maturity, we will pay to the nominee the greater of (a) the Fund Value as on date of intimation of death or (b) the Basic Sum Assured reduced for partial withdrawals as follows

    Before the life insured attains the age of 60, the Basic 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 Basic Sum Assured payable on death is reduced by all partial withdrawals made from age 58 onwards
    In addition we will also pay the Enhanced Sum Assured, if any.
    Death benefit shall never be less than 105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras) less any previous partial withdrawals.
    Surrender Benefit: In case of emergency fund requirements, you can surrender your policy after the completion of five policy years, and receive the Fund Value at that time.
    Top-Up Premium: If you wish to increase your investment in the policy, you have the freedom to invest additional amounts to your premium as Top-up premiums, anytime during the policy term, as long as all due policy premiums have been paid. In case of Guaranteed Option, you are allowed to Top-up your investment after first 3 policy years.
    Partial withdrawals: You can make unlimited partial withdrawals to meet any financial emergencies.
    Policy Loans: You can meet your financial needs by availing of a loan on your policy

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