Birla Sun Life Wealth Max Plan

Recommendations :No

Name of the policy :
Birla Sun Life Wealth Max Plan

A brief desciption :

Birla Sun Life Wealth Max Plan is a single premium ULIP providing fund value at maturity and higher of fund value or sum assured 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 :
2/3/2012

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- 125% of Basic Premium Max- 500% of basic premium

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

Entry age :
3-60 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- For 7 years- 5 lakhs, For 10 & 15 years- 1 lakh 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 Single premium ULIP providing Guaranteed Additions and an option of investing in 13 different funds.


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

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