Birla Sun Life Platinum Advantage

Recommendations :No

Name of the policy :
Birla Sun Life Platinum Advantage

A brief desciption :

Birla Sun Life Platinum Advantage is a ULIP providing fund value at maturity and (higher of the Basic Sum Assured and the Fund Value) + (Enhance Sum Assured, if any) as death benefit. However we can't ignore the fact that it is equally loaded with charges and insurance component being miniscule, it is strongly advisable to stay away from this fund

Started date :

Type of policy :
Insurance cum Investment

Category :

Insurance :
Entry Age Below 45 years- 10 times basic premium; 45 Years and above- 7 times basic premium

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

Entry age :
8-70 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- 25,000 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 provides a choice to increase the sum assured with Enhanced Sum Assured Option, and it also provides 2 investment strategies viz. Self Managed Option and Guaranteed Option. It�s a limited premium payment plan where you have to pay premium for 5 years but you get a cover for 10 years.

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 :1.00% p.a. for Income Advantage, Assure, Protector and Builder, 1.25% p.a. for Enhancer and Creator, 1.35% p.a. for Magnifier, Maximiser, Multiplier and Super 20, 1.50% p.a. for Platinum Advantage Fund of which 0.30% is to provide for the investment guara
Surrender/ Premium Discontinuance Charge Year 1 :Lower of 6% of AP, 6% of FV, Rs. 6,000
Surrender/ Premium Discontinuance Charge Year 2 :Lower of 4% of AP, 4% of FV, Rs. 5,000
Surrender/ Premium Discontinuance Charge Year 3 :Lower of 3% of AP, 3% of FV, Rs. 4,000
Surrender/ Premium Discontinuance Charge Year 4 :Lower of 2% of AP, 2% of FV, Rs. 2,000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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