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Birla Sun Life Insurance Company

Birla Sun Life Insurance Co. Ltd. or BSLI is one of India’s most trusted and foremost insurance companies. It is a combined endeavour by the Aditya Birla Group, a trustworthy multinational company with an ever expanding global presence and Sun Life Fin Incorporated, one of Canada’s top financial services companies.

Birla Sun Life Insurance Co. Ltd. started its operations in India, in 2000. It now has over a decade of experience in the insurance sector and has emerged as one of India’s leading insurance companies. It is ranked among the top seven private sector life insurance companies in India. The company combines the integrity of the Aditya Birla Group and its grasp and knowledge of the Indian Market with the financial expertise in the insurance sector of the Sun Life Financial Inc., to provide its customers with the best and most comprehensive insurance policies and cover.

Company Performance

BSLI is one of the most innovative and enterprising companies in the insurance sector. It was the first insurance company in India to introduce the Free Look Period before it was made mandatory by the Insurance Regulatory and Development Authority (IRDA). One of the main forerunners in the field of insurance in India, BSLI initiated the launch of Unit Linked Insurance Plans and originated the practice of disclosing the monthly portfolio which leads to greater credibility and transparency.
It was recognised as the third Most Trusted Life Insurance Company in the 2013 “Most Trusted Brands” survey. It won the highly coveted “Good Corporate Citizen Award” for the year 2009-2010 in Mumbai, in the Banking and Financial Institutions category. With a network of around 600 branches, 10,500 empanelled advisors and over 150 partnerships with banks, brokers and corporate agents, the company’s services are widely distributed across more than 500 cities.
BSLI provides its customers with a wide range of insurance policies and services categorized as the following:

  • Protection
  • Retirement
  • Health & Wellness
  • Children’s Future
  • Savings with Protection
  • Wealth with Protection
  • Rural
  • NRI
  • Group Solutions
  • Riders or applicable benefits to the chosen plan or policy

As of 30th June 2014, Birla Sun Life Insurance had Assets under Management (AUM) of about Rs. 26,813 crores and a robust capital base of more than Rs. 2.170 crores.  With the trust of more than 2.5 million happy customers, BSLI is one of the fastest growing players in the Indian life insurance field, and is a key player for future growth and development of the insurance sector.

Types of Solutions Offered and their Plan Details

1. Protection Solutions- Term Insurance Plans that ensure that your family is taken care of even during difficult times.
I. BSLI Protector Plus Plan- assures financial security for your family, with rewards for a healthy lifestyle.

An Overview:

Entry Age

18 to 65 years of age

Sum Assured Option

I - Level Sum Assured
II - Increasing Sum Assured

Policy Term

5 to 30 years, subject to max. age on maturity: 70 years

Premium Paying Term

Regular Pay

Premium Mode

Annual | Semi-annual | Quarterly | Monthly

Sum Assured

Min. Rs. 30,00,000
Max. no limit (subject to underwriting guidelines)

Premium

Min. Rs. 3,024



II. BSLI Future Guard Plan- provides financial freedom to your family even after your death.

An Overview:

Entry Age

:

18 65 years of age

Policy Term

:

10,15,20,25,30 years, subject to max age on maturity : 75 years

Premium Paying Term

:

Regular Pay

Premium Mode

:

Annual | Semi-annual | Quarterly | Monthly

Sum Assured

:

Min. Rs. 500,000
Max. No Limit



III. BSLI Protect@Ease- provides a customized plan for your family.

An Overview:

Entry Age

18 to 65 years

Policy Term

5 to 40 years; subject to maximum 80 years of age at the end of policy term

Plan Option

I – Level Term Assurance
II – Increasing Term Assurance

Premium Paying Term

Single Pay | Limited Pay – 5 | 7 years | Regular Pay

Premium Mode

Annual | Monthly

Sum Assured

Min. Rs. 30,00,000
Max. No Limit (subject to underwriting guidelines)



2. Wealth with Protection Solutions- Unit linked insurance plans that will enable you to fulfil your dreams and long-term goals.

  1. BSLI Wealth Max Plan- is a single unit linked plan that allows you to determine the way your money is invested in 13 different funds.
  2. BSLI Wealth Secure Plan- selects the best investment option according to your family’s requirements and secures them by providing Whole Life Cover.
  3. BSLI Wealth Assure Plan- is a protection and savings plan that enables growth in wealth and provides a secure financial future.
  4. BSLI Fortune Elite Plan- offers three main investment options to the customers to invest their premiums in - Systematic Transfer Option, Return Optimiser Option or the Self-Managed Option.
  5. BSLI Wealth Aspire Plan- has Guaranteed Additions – customers are rewarded for policy continuance in the form of additional units which will be added to their policy.

3. Savings with Protection Solutions- Money back insurance policies that create wealth through periodic incremental savings, and enable you to save money steadily in small amounts with the advantages of a large life cover and tax-free returns on the endowment insurance plan.

  1. BSLI Vision MoneyBack Plus Plan- guarantees financial security and return on investments.
  2. BSLI Vision LifeIncome Plan- provides steady income and whole life cover, along with survival benefits and life insurance benefits.
  3. BSLI Vision Endowment Plan- assures growth in savings and the return of the customer’s money.
  4. BSLI Savings Plan- provides security for your savings.
  5. BSLI Vision LifeSecure Plan- assures future investment returns.
  6. BSLI Income Assured Plan- provides regular savings, regular income, and comprehensive financial protection for your family.
  7. BSLI Vision Regular Returns Plan- provides a blend of financial protection, savings, and liquidity for your dear ones.
  8. BSLI Vision Endowment Plus Plan- provides a safe and financially sound future for your family.
  9. BSLI Guaranteed Future Plan- provides an assured Maturity Benefit which is the Assured Sum at maturity. This depends on the selected option for Death Benefit, frequency for paying the premium, the amount of premium chosen and the gender of the life insured.       
  10. BSLI SecurePlus Plan- offers a backup income opportunity that guarantees more than just income for a financially safe future for your family.

4. Children’s Future Solutions- for your child’s safe future.
BSLI Vision Star Plan- provides financial stability and assurance that will help your child achieve his or her dreams.

An Overview:

Entry Age (age on last birthday)

18 – 55 years

Max Maturity Age

75 years

Minimum Policy Term

For Option A - 16 years (maximum of 23 years)
For Option B - 14 years (maximum of 21 years)

Premium Paying Term

5 -12 years

Minimum Sum Assured

Rs. 100,000

Premium Frequency

Annual, Semi-annual, Quarterly & Monthly



5. Retirement Solutions- Plans that offer financial security and the ability to meet your expenses after retirement.

  1. BSLI Empower Pension Plan-helps accumulate premiums and investment returns for greater savings.
  2. BSLI Immediate Annuity Plan-converts savings into a guaranteed lifetime income source for retirement.
  3. BSLI Empower Pension – SP Plan –provides financial freedom after retirement.

6. Health Solutions- get quality treatment, free from financial worries.

  1. BSLI Hospital Plus Plan- supplements your health insurance policy and helps with and reduces additional expenses.
  2. BSLI Cancer Shield Plan- provides financial aid for cancer treatment.

7. Rural Solutions- policies that seek to address the increased health risks in rural areas with an added endowment product that provides life coverage and returns on the maturity of the plan.

  1. BSLI Bima Dhan Sanchay- provides life insurance cover and refunds of premiums on maturity.
  2. BSLI Bima Suraksha Super- provides simple and convenient life insurance.
  3. BSLI Bima Kavach Yojana- is a 3 year plan which has benefits like surrender, maturity, and death, designed specifically keeping the rural population in mind.
  4. BSLI Gramin Jeevan Raksha Plan- for the rural masses and socially weaker sections in semi-urban and urban areas.

8. NRI Solutions- Vision LifeIncome Plan is an NRI life insurance plan that provides life coverage and survival benefits on a yearly basis from the end of the premium paying term till the maturity date.

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