Birla Sun Life Dream Life Plan

Recommendations :No

Name of the policy :
Birla Sun Life Dream Life Plan

A brief desciption :

Birla Sun Life Dream Life Plan is a ULIP providing higher of Fund Value or Guaranteed Savings Fund at maturity and Basic Sum Assured + Fund Value + Enhanced Sum Assured, if any as Death Benefit

Started date :
8/11/2010

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Entry Age below 45- The higher of 10 or the number of years to attain age 70 divided by 2, Entry Age Above 45- The higher of 7 or the number of years to attain age 70 divided by 4

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
18-60 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min- 12,000 Max- No limit

Mortality Charges :
A mortality charge is deducted for the Basic Premium when received. The charge per 1000 of Basic Sum Assured will depend on the entry age of the life insured. Under the Single-Pay Option For Age 25- 1.546 For Age 35- 1.753 For Age 45- 3.040 For Age 55-7.0

Unique features :
It provised 5 additional riders, guaranteed additions but only one investment fund.


Premium Allocation Charge Year 1 :0.07%
Premium Allocation Charge Year 2 :0.07%
Premium Allocation Charge Year 3 :0.05%
Premium Allocation Charge Year 4 :0.05%
Premium Allocation Charge Year 5 :0.05%
Premium Allocation Charge Year 6 :0.05%
Premium Allocation Charge Year 7 :0.05%
Premium Allocation Charge Year 8 :0.05%
Fund Management Charge :The daily unit price of the investment fund is adjusted to reflect the fund management charge of 1.25% p.a.
Surrender/ Premium Discontinuance Charge Year 1 :For AP less than 25,000- Lower of 20% of AP, 20% of FV, Rs. 3,000, For AP 25,000 and more- Lower of 6% of AP, 6% of FV, Rs. 6,000
Surrender/ Premium Discontinuance Charge Year 2 :For AP less than 25,000- Lower of 15% of AP, 15% of FV, Rs. 2,000, For AP 25,000 and more- Lower of 4% of AP, 4% of FV, Rs. 5,000
Surrender/ Premium Discontinuance Charge Year 3 :For AP less than 25,000- Lower of 10% of AP, 10% of FV, Rs. 1,500, For AP 25,000 and more- Lower of 3% of AP, 3% of FV, Rs. 4,000
Surrender/ Premium Discontinuance Charge Year 4 :For AP less than 25,000- Lower of 5% of AP, 5% of FV, Rs. 1,000, For AP 25,000 and more- Lower of 2% of AP, 2% of FV, Rs. 2,000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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Table of Contents