Birla Sun Life Wealth Assure Plan

Recommendations :No

Name of the policy :
Birla Sun Life Wealth Assure Plan

A brief desciption :

Birla Sun Life Wealth Assure Plan is a ULIP providng Fund Value at maturity and fund value plus sum assured at the death of the life insured. However the insurance cover is miniscule which is not sufficient to protect the income earned by the earning member of the family. Moreover, there are loads of charges levied which gives back practically nothing at maturity in comparison to other investment avenues. So it is strongly advisable to stay away from this product.

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Entry Age below 45- Higher of 10 years or policy term divided by 2 Entry Age above 45- Higher of 10 years or policy term divided by 4

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

Entry age :
8-65 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- 90,000 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 is a ULIP providing the facility to enhance the cover and also provides the flexibility to choose within 3 investment options.


Premium Allocation Charge Year 1 :0.05%
Premium Allocation Charge Year 2 :0.04%
Premium Allocation Charge Year 3 :0.04%
Premium Allocation Charge Year 4 :0.04%
Premium Allocation Charge Year 5 :0.04%
Premium Allocation Charge Year 6 :0.04%
Premium Allocation Charge Year 7 :0.04%
Premium Allocation Charge Year 8 :0.04%
Fund Management Charge :1.00% p.a. for Liquid Plus, Income Advantage, Assure, Protector and Builder, 1.25% p.a. for Enhancer and Creator, 1.35% p.a. for Magnifier, Maximiser, Multiplier, Super 20, Pure Equity, and Value & Momentum.
Surrender/ Premium Discontinuance Charge Year 1 :Lower of 6% of AP, 6% of FV, ` 6,000
Surrender/ Premium Discontinuance Charge Year 2 :Lower of 4% of AP, 4% of FV, ` 5,000
Surrender/ Premium Discontinuance Charge Year 3 :Lower of 3% of AP, 3% of FV, ` 4,000
Surrender/ Premium Discontinuance Charge Year 4 :Lower of 2% of AP, 2% of FV, ` 2,000
Surrender/ Premium Discontinuance Charge Year 5 and above :Nil

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