CAN YOU BE SURE AS TO WHAT MAY HAPPEN TO “U” IN THE NEXT FEW MINUTES???????<br />
DO YOU LOVE YOUR NEAR AND DEAR ONES AS MUCH AS YOU LOVE YOURSELF????<br />
DO YOU WANT TO BE FINANCIALLY SECURE IN THE EVENT OF ANY UNFORSEEN CALAMITY???<br />
Invest the next 15 minutes of your time to understand INSURANCE in the right perspective... <br />
What is insurance?<br />Insurance is a contract between two parties where one party (the insurer) agrees to protect the other party (the insured) in the event of any loss or unforeseen event. Insurance can be broadly classified into two categories – Life Insurance and Non Life Insurance. <br />What do you mean by Premium payable on an insurance policy?<br />Premium is the periodical amount that the insured needs to pay to the insurance company to enjoy the benefits of the insurance policy.<br />
What do you mean by “sum assured”?<br />Sum assured refers to the amount for which the insurance cover is taken. <br />What is meant by death benefit? <br />The amount received from the insurance company on the death of the insured is known as death benefit. <br />What do you mean by “riders”?<br />Riders are additional benefits that are added on to an insurance policy to make it more compatible to the needs of the policyholder. Riders are generally applicable only for life insurance and not for general insurance. <br />.<br />
What is surrender benefit?<br />The sum of money an insurance company will pay to the policyholder in the event his or her policy is voluntarily terminated before its maturity or the insured event occurs<br />What is maturity benefit? <br />The amount received on the maturity of the policy is known as maturity benefit.<br />
Why insurance???<br />PRIMARY REASONS<br /><ul><li>Life is full of uncertainties
Serves as a financial buffer in the wake of any unfavorable and un-foreseen circumstances
Ensures that near and dear ones are not left in financial doldrums due to any exigency
The risk cover that insurance provides has no parallels in the financial world</li></li></ul><li>Why insurance ???<br />SECONDARY REASONS<br /><ul><li>Money back plans provides an element of liquidity by returning a portion of the sum assured at regular intervals. This is in addition to the risk cover
Unit linked plans invest a percentage of the premiums in market securities and provide returns. This combines market linked returns along with risk cover </li></li></ul><li>OBJECTIVE OF THE PRESENTATION<br /><ul><li>Highlighting the fundamentals of insurance as a financial product
Insight into the Birla Sun Life </li></ul> Insurance and its products available in the market <br /><ul><li>The tax implications of insurance</li></li></ul><li>
COMPANY PROFILE<br />Launched just before 9 years but still managed to be amongst leading player(7th) in private insurance industry.<br />Strong fundamentals based on the Aditya Birla Group’s local insight and Sun Life financials global expertise.<br />Birla Sun Life Insurance pioneered the unique Unit Linked Life Insurance Solutions in India<br />Having 1, 68,090 active advisors, and sold 2.5 million policies.<br />Current AUM of BSLI stands Rs. 8165 crore as on February 28, 2009<br />In April 2009, achieved the landmark of processing 100% of its claims.<br />
Birla Sun Life Insurance Bima Kavach Yojana </li></li></ul><li>Retirement Plans<br />Birla Sun Life Insurance Secure 58 Plan. <br />Birla Sun Life Insurance Freedom 58. <br />Birla Sun Life Insurance Flexi Secure Life Retirement Plan II.<br />
Riders<br />Accidental Death Rider <br />Accidental Death and Dismemberment Rider <br />Term Rider <br />Critical Illness Rider <br />Waiver of Premium <br />Critical Illness Plus Rider <br />Critical Illness - Woman Rider<br />
Favourable Term - Favourable Premium Rates for Female Clients.</li></li></ul><li>Types of Term Insurance<br />Level Term <br />Increasing and Decreasing Term <br />Renewable Term <br />Convertible Term <br />Group Term <br />
Birla Sun Life Insurance Dream Plan<br />your dream, Our commitment….<br /><ul><li>Guaranteed Maturity Benefits
Options to double or triple the Guaranteed Maturity Benefit by choosing 200% or 300% options.
Have options of partial withdrawals and surrender of policy option.
Enhanced Sum Assured - Choice to enhance life cover anytime during the policy term at minimal additional cost</li></li></ul><li>Birla Sun Life Insurance Children's Dream Plan.<br /> <br />This plan is meant for you if:<br /><ul><li>You, the Life Insurer, is 18 to 60yrs
Your child, the Nominee, is 13 years or younger at entry
You must be of age 75 or younger when your plan matures & The Guaranteed Maturity Benefit you choose must be at least:
Rs. 75,000 for the 100% Guaranteed Maturity option
Rs. 37,500 for the 200% Guaranteed Maturity option
Rs. 25,000 for the 300% Guaranteed Maturity option
The Enhanced Sum Assured you choose, if any, must be at least Rs. 50,000.</li></ul> <br />
Birla Sun Life<br />Insurance Platinum Plus<br />This plan is a unit linked, non- participating, insurance plan with,<br /><ul><li>A policy term of 10 years.
An innovative investment fund - Platinum Plus Fund III. Full liquidity after three policy years to meet any cash needs</li></li></ul><li>Eligibility:<br /><ul><li>Entry Age of Life Insured: 18 to 70 years.
Minimum Sum Assured: 5 x Annual Premium</li></ul>Benefits:<br /><ul><li>Maturity Benefit
Death Benefit</li></li></ul><li>Birla Sun Life Insurance Secure 58 Plan<br />BSLI Secure 58 is the right plan for you if : <br /><ul><li>You are 18 to 80 years of age
Looking to vest anytime between 10 years - 40 years from the entry age. Maximum vesting age is 90 years.
You are looking to invest at least Rs. 9,600 per annum for retirement planning. While there are no limits on the amount you can invest in this plan, you can choose your annual base premiums only in multiples of Rs. 1,200 per annum over the minimum premium of Rs. 9,600.</li></li></ul><li>Benefits:<br /><ul><li>Surrender benefit
Tax benefits under section 80CCC and Section 10(10A).</li></li></ul><li>Tax Benefits in Insurance<br />The benefits under income tax are of two types <br /> 1.Deductions:<br />Sec 80C <br /> Deduction is available amounting to Rs. 1,00,000 <br /> The benefit for life insurance premium u/s 80C is restricted to 20% of the actual capital sum assured. Surrender of Plan before premium has been paid for two years will result in reversal tax benefit<br />
80CCC <br /> Deduction in respect of contribution to pension funds Maximum Rs. 1,00,000 Flexi Secure Life Retirement Plan and Freedom 58 from Birla Sun Life Insurance provides all the benefits. <br />Sec 80 CCE <br />Under Section 80CCE, the overall limit for deduction u/s 80C, u/s 80CCC and u/s 80CCD is Rs. 1,00,000.<br />
2.Exemptions:<br /><ul><li>Commuted pension: 10(10A)(iii) </li></ul> One-third of the Value at vesting date would be tax-free 10(10D) Any sum received from Life insurance policy as maturity proceeds, death benefits.<br />
‘OLD HABITS DIE HARD’: Its still difficult task to win the confidence of public towards private company.
Competitors offering similar kind of insurance</li></li></ul><li>RESEARCH ANALYSIS(Ahmedabad)<br />Which plan have you taken?<br />Question. Are you satisfied with the Insurance plan you have?<br /> <br />
Ques. Are you satisfied with the services provided by the company regarding new plans and schemes?<br />Ques. Are you interested to make more investments in BSLI ?<br />
Ques. Have you any other Insurance Plan apart from BSLI?<br />
FINDINGS ABOUT THE SELECTIONS OF NEW ADVISOR <br />