Birla Sun Life Wealth Assure Plan

• Investment cum Life Insurance plan
• 5 years premium pay term
• Invest in 13 different fund options
• Option to choose 3 investment options
• Receive Fund Value as maturity benefit
• Guaranteed Additions to grow savings
• Flexibility to add top ups
• Unlimited Partial withdrawals to meet financial contingency
• Tax benefits are available

This policy offers following 13 investment funds and you have the option to invest in any one or combination of fund options.

• Liquid Plus Fund
• Income Advantage Fund
• Assure Fund
• Protector Fund
• Builder Fund
• Enhancer Fund
• Creator Fund
• Magnifier Fund
• Maximiser Fund
• Multiplier Fund
• Super 20 Fund
• Pure Equity Fund
• Value & Momentum Fund

You have the option to choose from following three investment strategies that help manage your funds.

LifeCycle Option: This investment option is for individuals who would like their investments to change over time based on their age and risk profile.

Systematic Transfer Option: This investment option is for individuals who would like to eliminate the need to time one’s investments in the market. It safeguards your wealth against the market volatilities.

Self-Managed Option: This investment option is for individuals who would like to have control over their investment. It provides you the flexibility to invest amongst 13 available investment funds and you can also switch from fund to another, provided the switched amount is at least Rs. 5,000.

Death Benefit

In the event of death of the life assured while the policy is in-force, the Death Benefit payable is Basic Fund Value (till the date of intimation of death) plus Basic Sum Assured. This death benefit also includes Top-up Fund Value (till the date of intimation of death) plus Top-up Sum Assured.

Death benefit shall be at least 105% of the total premiums paid.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Total Fund Value is payable at maturity.

Guaranteed Additions

Guaranteed Addition is 0.25% of the average Fund Value in the last 12 months (6th to 10th policy anniversary). It is 0.55% of the Average Fund Value in the last 12 months (from 11^th to 15^th policy anniversary). It is 0.75% of the average Fund Value in the last 12 months (every year, from 16^th policy anniversary onwards).

Non-Negative Residual Additions

After the completion of 5 policy years, non-negative residual additions, are credited to the policy in order to meet the maximum reduction in yield.

Top-Ups

Facility for Top-up Premium is available through the entire policy term, provided all due basic premiums have been paid. The minimum top-up premium allowed is Rs 5,000. The total top-up premium should not exceed the total basic premiums paid.

Top-up Sum Assured = Top-up Multiple * Top-up Premium

Top-up multiple is 125%/110% for age less than 45 years/age equal to 45 years & above, respectively.

Alter Sum Assured

Based on your insurance needs, you can increase the amount of protection by 150%, 200%, 250% or 300% of the minimum Basic Sum Assured.

Switching

You can switch among 13 available fund options to suit your changing investment needs.

Premium Re-direction

Premium Re-direction facility is available to alter future premium allocation and it will apply to your subsequent premiums.

Partial Withdrawal

Unlimited Partial Withdrawal is allowed from 6^th policy year onwards (in case of minor lives, life assured attains 18 years). The minimum partial withdrawal amount allowed is Rs 5,000. The minimum Basic Fund Value required is equal to two years basic premiums plus top-up premiums paid in the previous five years, immediately before the date of withdrawal.

Bonus

The plan is not eligible for the bonuses, as it is a non-participating insurance plan.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the ‘Linked Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. A fund management charge of 0.50% per annum of the Linked Discontinued Policy Fund is applicable. The proceeds after addition of interest subject to a minimum guaranteed interest rate of 4% per annum or as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

No rider is available under this plan.

Premium Allocation Charges: This charge is deducted from the premiums paid and the balance amount is then allocated to funds chosen. The premium allocation charge of 5%/4% is levied during 1^st policy year/2^nd policy year onwards, respectively. A premium allocation charge of 2% is levied on top-up premium paid.

Policy Administration Charge: Policy administration charge is Rs 300 per annum during 1^st to 5^th policy year. 1/12^th part of this charge is deducted at the start of every month by cancelling appropriate units from the fund value.

Mortality Charges: Mortality charge is levied for providing you with the risk cover. The charge per Rs 1000 of Sum at Risk depends on the gender and age of the life insured. This charge is deducted every month by cancellation of units.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a. for Magnifier, Maximiser, Multiplier, Super 20, Pure Equity and Value & Momentum Fund, 1.25% p.a. for Enhancer and Creator Fund, 1.00% p.a. for Liquid Plus, Income Advantage, Assure, Protector and Builder Fund. Fund management charge may be revised, subject to a maximum of 1.35% p.a. upon prior approval from IRDAI.

Miscellaneous Charges: Rs 50 per request for change in investment option, fund switch, premium re-direction, partial withdrawal or any other servicing request. This charge may be revised to a maximum of Rs 500 per request.

Taxes: The charges mentioned under this plan are subject to applicable tax and cess, as applicable.

Tax benefits can be availed under section 80C & 10(10D) under the Income Tax Act, subject to change in tax laws.

Mr. Raman aged 35 years, is leading a happy life with his wife ananya and a daughter sanya. He wants to build a corpus amount, so his family can achieve their dreams such as sanya’s education, her marriage, etc. He also wants to ensure financial security of the family, in case of a mishap. He thus opts for BSLI Wealth Assure Plan with the policy term of 20 years, premium payment term of 5 years, annual premium of Rs 2,50,000 and sum assured of Rs 25,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Total Fund Value is payable at maturity. Guaranteed Addition is 0.25% of the of the average Fund Value in the last 12 months (6th to 10th policy anniversary). It is 0.55% of the Average Fund Value in the last 12 months (from 11^th to 15^th policy anniversary). It is 0.75% of the average Fund Value in the last 12 months (every year, from 16^th policy anniversary onwards). After the completion of 5 policy years, non-negative residual additions are also credited to the policy.

Scenario B- Death Benefit: In the event of his death during the policy term, the Death Benefit payable is Basic Fund Value (till the date of intimation of death) plus Basic Sum Assured. This death benefit also includes Top-up Fund Value (till the date of intimation of death) plus Top-up Sum Assured.