Birla Sun Life Insurance Company Ltd., a subsidiary of Aditya Birla Nuvo Ltd., announced the launch of BSLI Foresight Plan, a cutting-edge solution that provides customers the upside of market returns while completely shielding their investments from downside risks. This medium-term unit linked savings plan is apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options.
Commenting on the launch, Fabien Jeudy, Chief Actuarial Officer, Birla Sun Life Insurance said “Equity markets have a huge potential towards meeting customer’s long-term wealth creation needs. However, many customers tend to stay away from this attractive opportunity due to the lack of knowledge on timing the market and the resultant fear of loosing their money. This behavior brings forth the need for a product offering that can eliminate this fear and give customers the confidence of not just optimizing investments when the markets are low but also locking the gains, when the markets are at a high.”
He further adds “Keeping this unfelt customer need in mind, we have designed BSLI Foresight Plan, an innovative investment avenue that addresses this requirement. We are positive that this product will induce many more customers to take their first step towards participating in the equity markets, help them protect their investment downside and lock their gains.”
BSLI Foresight Plan can be customized for different investors. It offers the following flexibility:
Choice of Basic Premium: Entire premium to be paid once/at the beginning of every policy year
Choice of Basic Sum Assured:
Single pay option: Minimum BSA or 5 X Basic Premium
5 – pay option: 100,150,200,250 or 300% the minimum BSA
Choice of Investment Option : Self-Managed Option or Guaranteed Option
Choice of Premium Pay Term : Single-Pay/ 5-Pay
Other key highlights of BSLI Foresight Plan:
Provides upside of market related returns while shielding investments from downside risks
Full freedom to switch from one fund to another – From amongst 10 investment funds under Self-Managed Option
Option to increase protection by choosing higher sum assured multiple
Option to pay all 5 years premium in advance
Tax benefits under Sections 80C and 10(10D) of the Income Tax Act,1961
Opportunity to invest in New Generation Foresight Fund
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