Mumbai, : Birla Sun Life Insurance Company (BSLI), one of India’s leading life insurance companies, is introducing the BSLI Bachat (Endowment) Plan, an insurance plan that will help customers build a corpus through regular systematic savings. With this plan customers can start saving for their future and provide financial security to their families with as little as Rs.400 per month. The policy term for this plan is 20 years and customers can get a life cover of up to 180 times their monthly premium. At the end of the term customers receive the maturity amount including a loyalty addition. Customers can also double the insurance cover by opting for the Accidental Death Benefit Rider by paying a nominal additional premium. The premiums paid under this plan are currently also eligible for income tax benefits under Section 80C and Section 10(10D).
Salient features of the Bachat Plan are:
- Choose your Monthly Base Premium based on your needs beginning with as little as
- Get Life Cover – Insure coverage for up to 180 x the Monthly Base Premium
- Get Bachat additions every year
- Get loyalty additions every year
On the occasion of the launch Mr. Fabien Jeudy, Chief Actuarial Officer, Birla Sun Life Insurance said “This product will help customers save for their long term goals by saving affordable amounts regularly along with safety and growth. This product is targeted at customers who are not comfortable with market linked savings and for whom safety and growth of savings is of importance”
About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organization from Canada. With an experience of over a decade, BSLI has contributed significantly to the growth and development of the Indian life insurance industry and currently is one of the leading life insurance companies in the country. Enjoying trust of its over 2 Million customers, BSLI is known for innovations. BSLI offers a complete range of offerings comprising of protection solutions, children’s future solutions, wealth with protection, health and wellness as well as retirement solutions and has an extensive distribution reach over 500 cities through its network of over 600 branches, close to 1,70,000 empanelled advisors and over 700 partnerships with Corporate Agents and Banks. This is well supported by the sound financials that the Company has. The AUM of Birla Sun Life Insurance is close to Rs. 16,000 crs and it has a robust capital base of over Rs. 2450 crs as on March 31, 2010. For more information, please visit www.birlasunlife.com
About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has a significant presence across various verticals, including life insurance, insurance broking, mutual funds, private equity, security based lending, factoring, insurance advisory services, retail broking and distribution of third party products.
The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Capital Advisors Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd, Aditya Birla Finance Ltd. and Birla Insurance Advisory & Broking Services Ltd.
The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with over 4.5 million customers manages assets worth USD 18 billion approximately and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through 1600 branches and over 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With over a billion dollar revenue, ABFSG is a significant non bank player and one of the few players who have a top 5 position in both life insurance and mutual funds.
ABFSG is a part of Aditya Birla Nuvo Litd (ABNL), a USD 3 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 25 countries across the globe.
About Sun Life Financial Inc.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2009, the Sun Life Financial group of companies had total assets under management of $375 billion. For more information please visit www.sunlife.com.
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