Birla Sun Life Insurance launches SecurePlus Plan

Birla Sun Life Insurance (BSLI), the life insurance arm of the Aditya Birla Financial Services has announced the launch of BSLI SecurePlus Plan. This is a non-participating traditional insurance plan that provides customers a guaranteed second income (during the payment period) which is twice the annual premium paid along with a life cover.

Pankaj Razdan, MD & CEO, Birla Sun Life Insurance said that this product helps customers multiply their money and earn 2x income on their premiums which can be used by the customer to meet several life goals. We hope that this offering will be able to touch the lives of our customers as they realize their protection needs with us.

BSLI SecurePlus Plan offers life cover for the policyholder during the policy term. At the end of the policy term, this plan gives two Income benefits options. In option A the customer will receive increasing Income of 1x to 6x in 6 years . For example a customer who has paid Rs 1 lakh per annum for 12 years will receive Rs 1 lakh in 14th year followed by Rs 2 lakh, 3 lakh, 4 lakh, 5 lakh and 6 lakh in 15th, 16th, 17th, 18th and 19th year respectively. In Option B the customer shall receive double the premiums paid for 12 years. For instance customer who has paid Rs 1 lakh per annum for 12 years shall receive Rs. 2 lakh every year for 12 years starting from the 14th year.

The return in both these cases is tax free. In the event of premature death during the Payment Period, the Income Benefit Pay-outs as scheduled are provided to the nominee . The plan thus ensures that your family's finances are protected even in your absence. The policy also offers life cover with sum assured ranging from 14.5 to 19 times the premium paid during the policy term. The policy has a built in accidental death benefit which ensures that the nominee receives double the sum assured.