INSURANCE INSIGHTS
|
JULY 2017
24
25
JULY 2017 |
INSURANCE INSIGHTS
Insurer Name
Birla Sun Life Insurance Company
Ltd.
Birla Sun Life Insurance Company
Ltd.
HDFC Standard Life Insurance Company Ltd.
Birla Sun Life Insurance Company Ltd.
Product name
BSLI Empower Pension Plan
BSLI Wealth Secure Plan
HDFC Life Assured Pension Plan
BSLI Empower Pension – SP Plan
Illustrative Maturity/Vesting Benefit
at 4% and 8% return for Premium
R
1,00,000 p.a. (as per insurer's
illustration)
(for a 35 year old Male, non-smoker,
Premium excluding taxes, surcharge
& cess)
R
17,90,723 (at 4%)/
R
25,08,650 (at
8%)
PPT - 15 years, PT - 15 years
Risk Profile - Moderate
R
17,02,347 (at 4%)/
R
23,85,877 (at
8%)
PPT - 15 years, PT - Whole Life
R
7,99,001(at 4%)/
R
11.12.494(at 8%)
PPT - 15 years, PT - 15 years
R
1,39,298(at 4%)/
R
2,50,240 (at 8%)
PPT - 15 years, PT - 15 years, Risk Profile - Moderate
Key Plan Features
Guaranteed Additions in the form of
additional units will be added to your
policy.
Pay premiums for a limited term and
get life cover for whole life along with
flexibility to add top-ups whenever you
have additional savings.
Provides Assured vesting benefit and Loyalty additions from
11th year onwards.
One time investment is required and Guaranteed Additions in the
form of additional units will be added to your policy.
Entry Age(Min/Max)
25/70 years
1/60 years
18/65 years
25/70 years
Maturity Age(Min/Max)
30/80 years
Whole Life
45/75 years
30/80 years
Premium paying options
Regular Pay
Limited Pay
Single Pay, Regular Pay, Limited Pay
Single Pay
Premium Paying Term(PPT)/Policy
Term(PT)
5 to 30 years
5 to 30 years
1
/Whole Life
SP, 8,10 Pay/10,15 to 35 years
15 Pay/15 to 35 years
Single Pay
Premium mode
Annual, Half-yearly, Quarterly, Monthly
Annual, Half-yearly, Quarterly, Monthly
Annual, Half-yearly, Quarterly, Monthly, Single
Single Pay
Sum Assured (Min/Max)
-
Entry age < 45 years: Higher of AP x 10
or AP x no. of years to attain age 70/2/
Up to 300% of Minimum Basic SA
Entry age >= 45 years: Higher of AP x
7 or AP x no. of years to attain age 70/4
/ Up to 300% of Minimum Basic SA
-
-
Minimum Annual Premium
R
18,000
2
R
20,000
2
R
24,000 (LP/RP)
R
1,00,000
Plan options
Risk Profile -Aggressive, Moderate,
Conservative
Not Available
Not Available
Risk Profile - Aggressive, Moderate, Conservative
Premium Allocation Charges
Year 1 : 6%, Year 2-3 : 5.50%, Year
4-10 : 5%, Year 11+ : 4%
Year 1-2 : 6%, Year 3-6 : 5.50%, Year
7+ : 5%, Top-up premium - 2%
Year 1-5 : 5%, Year 6 onwards : 4%. Non-annual modes - 3.9% 3%
Maturity Benefit*
Higher of -
Guaranteed Vesting Benefit or Fund
Value
Not Available
Higher of -
- Fund Value
- Assured Vesting Benefit
Higher of -
- Guaranteed Vesting Benefit
- Fund Value
Death Benefit*
Higher of -
Guaranteed Death Benefit
Fund Value
^
Higher of -
Basic Fund Value or Basic Sum Assured
plus, higher of
Top-up Fund Value or Top-up Sum
Assured
Higher of -
- Fund Value
- 105 % of the total premiums paid till date.
Greater of -
(a) the Guaranteed Death Benefit or (b) Fund Value as on date of
intimation of death.
RETIREMENT PLANS (ULIP)
RETIREMENT PLANS (ULIP)
*Please refer to product brochure for more details.
^The minimum level of death benefit at all times will be 105% of the premiums paid (including top-up).
RP - Regular Pay, LP - Limited Pay, SP - Single Pay
1
Attained age at the end of PPT must be 18 to 75 years.
2
Depends on the premium mode chosen.
