Birla Sun Life Insurance Company, a joint venture between the Aditya Birla Group, India’s leading transnational conglomerate and Sun Life Financial Inc, one of the leading international financial services organizations from Canada, has announced the launch of its new whole life plan, ‘BSLI Wealth Secure’.

The plan enables customers to meet their financial goals according to their changing life stages with equity market participation, and also provides them financial security throughout their entire lives.

Niall O’Hare, Chief Actuarial Officer, Birla Sun Life Insurance, says, “With three investment options to choose from, the plan can meet the demands of the diverse investors. BSLI Wealth Secure plan combines long-term savings and whole life cover in such a way that it allows customers to focus on their goals and maximize savings for their future.” He adds, “With a built-in savings compo¬nent, BSLI Wealth Secure plan can help accumulate sizable returns with every premium paid, owing to its long tenure and equity market participation.”

The plan enables a customer to fulfill his family’s dreams with prudent investments and also financially secure their future with a whole Life cover. 

Many customers tend to stay away from the equity market opportunity due to lack of knowledge, thereby compromising on their long-term wealth creation goals. The company is positive that the product will induce many more customers to achieve a balanced growth on their investments while they benefit from advanced investment strategies and also a whole life cover.

The plan offers customers a choice to select the premium amount. Based on his/her current age and the premium amount that the customer opts for, the company will determine the life cover applicable on the policy. This is also the minimum Basic Sum Assured. 

Key features of BSLI Wealth Secure plan include – 
Insurance cover for whole life.
Option to select from three investment strategies - Systematic Transfer Option, LifeCycle Option and Self-Managed Option.
Systematic Transfer Option mitigates the risk arising from the volatility in the equity market by averaging out a customer’s cost of purchase. This option allows customers to enter the equity market not at once, but slowly at different times and at different levels, thus reducing the overall risk to their portfolio.
LifeCycle Option is meant for individuals who want their investments to change according to their changing age and risk profile.
Self-Managed Option is meant for individuals who seek complete freedom and flexibility to manage their investments by allocating the premiums across investment funds of their choice in varying proportions. Self- managed Option gives customers access to BSLI’s well established suite of 13 investment funds with complete control on how to invest premiums, and the independence to switch from one investment fund to another.
Option of increasing life cover by up to 300% of the minimum Basic Sum Assured.
Advantage of enhanced financial security with BSLI Riders.
Flexibility to make partial withdrawals to meet any financial emergencies after completion of five policy years.
Additional boost to Fund Value in the form of Guaranteed Additions.
Payment of Sum Assured or fund value  to the nominee, whichever is higher, in the unfortunate event of death of the Life Assured during the term of the policy.
Tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.