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Smart investing is about                                                                                               buy...
BSLI FORESIGHT PLAN AT A GLANCE                                                                                           ...
BSLI FORESIGHT PLAN AT A GLANCE                                                                                           ...
Policy Surrender          YOUR PREMIUM AND NET INVESTED PREMIUM                                                           ...
Policy Surrender          YOUR PREMIUM AND NET INVESTED PREMIUM                                                           ...
If you wish to diversify your risk, you can choose to allocate your NIP in varying proportions   For the purpose of the Gu...
If you wish to diversify your risk, you can choose to allocate your NIP in varying proportions   For the purpose of the Gu...
- The second component of the special NIP Guaranteed Value adds back this amount,           YOUR UNIQUE FORESIGHT ADVANTAG...
- The second component of the special NIP Guaranteed Value adds back this amount,           YOUR UNIQUE FORESIGHT ADVANTAG...
Income Advantage                                                                                      ProtectorObjective: ...
Income Advantage                                                                                      ProtectorObjective: ...
Maximiser                                                                                          Foresight 5PObjective: ...
Maximiser                                                                                          Foresight 5PObjective: ...
Under the Single-Pay Option                     Under the 5-Pay Option Gender      Age 25     Age 35     Age 45     Age 55...
Under the Single-Pay Option                     Under the 5-Pay Option Gender      Age 25     Age 35     Age 45     Age 55...
Policy Loans                                                                                        person to take or rene...
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  1. 1. Smart investing is about buying low and selling high Now invest smartly and get life cover too Birla Sun Life InsuranceCall: 1-800-270-7000 www.birlasunlife.com sms FORESIGHT to 56161 Foresight Plan A Life Insurance Plan with unique guaranteesRegd. Office: One Indiabulls Centre, Tower 1, 15th & 16th Floor, Jupiter Mill Compound, 841, on investmentSenapati Bapat Marg, Elphinstone Road, Mumbai 400013. Reg. No.109 Unique No.: 109L069V01ADV/2/10-11/4481 VER 3/Sept/2011 20 1
  2. 2. BSLI FORESIGHT PLAN AT A GLANCE Entry Age (age last birthday) 8 to 60 years Policy Term 10 years Pay Option Single-Pay 5-Pay Minimum Basic Premium Rs. 200,000 once Rs. 100,000 yearly Minimum Basic Sum Assured (BSA) For entry ages below 45 1.25 x Basic Premium 10 x Basic Premium For entry ages 45 and above 1.10 x Basic Premium 7 x Basic Premium STEP 1: Choose Basic Premium • Single-Pay option - the entire Basic Premium is payable only once • 5-Pay option - the entire Basic Premium is payable at the beginning of every policy year for a period of 5 years STEP 2: Choose Basic Sum Assured • Single-Pay option - you can choose the minimum BSA or 5 x the Basic Premium • 5-Pay option - you can choose 100, 150, 200, 250 or 300% the minimum BSA STEP 3: Choose Investment Option • Self-Managed Option - you decide how to invest your money in our universe of funds. We offer presently 10 different investment funds - Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20. These investment funds range from 100% debt to 100% equity to cater to your individual needs and risk appetite • Guaranteed Option - you invest your money in the Foresight fund assigned toIn this policy, investment risk in investment portfolio is borne by the policyholder. your policy when it is issued and, at maturity, your investment will be safeguarded by our unique Guaranteed Minimum Maturity Benefit INTRODUCING BSLI FORESIGHT PLAN BEFORE YOU READ ANY FURTHERIn doing your financial planning, you will seek the perfect plan to protect your loved ones and toaccumulate and safeguard your wealth. Presenting BSLI Foresight Plan, the perfect insurance BSLI Foresight Plan is a non-participating unit-linked life insurance plan. All unit-linked lifecum investment plan just for you. insurance plans are different from traditional insurance plans and are subject to different riskBSLI Foresight Plan allows you to choose your life cover to suit your particular insurance needs. factors. The name of this plan and that of the investment funds do not in any way indicate the quality of the plan or future returns.BSLI Foresight Plan allows you to build your own universe of investments through the Self-Managed Option and thus diversify your risk according to your own personal preferences. In this plan, the investment risk in the investment funds chosen by you is borne by you.Alternatively, BSLI Foresight Plan with its Guaranteed Option, allows you to optimise your Investment funds are subject to investment risks and unit prices may go up or down reflectingparticipation in capital markets while safeguarding your investment and any gains thereon. the market value of the underlying assets. Past performance is no guarantee of future results. 2 3
  3. 3. BSLI FORESIGHT PLAN AT A GLANCE Entry Age (age last birthday) 8 to 60 years Policy Term 10 years Pay Option Single-Pay 5-Pay Minimum Basic Premium Rs. 200,000 once Rs. 100,000 yearly Minimum Basic Sum Assured (BSA) For entry ages below 45 1.25 x Basic Premium 10 x Basic Premium For entry ages 45 and above 1.10 x Basic Premium 7 x Basic Premium STEP 1: Choose Basic Premium • Single-Pay option - the entire Basic Premium is payable only once • 5-Pay option - the entire Basic Premium is payable at the beginning of every policy year for a period of 5 years STEP 2: Choose Basic Sum Assured • Single-Pay option - you can choose the minimum BSA or 5 x the Basic Premium • 5-Pay option - you can choose 100, 150, 200, 250 or 300% the minimum BSA STEP 3: Choose Investment Option • Self-Managed Option - you decide how to invest your money in our universe of funds. We offer presently 10 different investment funds - Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20. These investment funds range from 100% debt to 100% equity to cater to your individual needs and risk appetite • Guaranteed Option - you invest your money in the Foresight fund assigned toIn this policy, investment risk in investment portfolio is borne by the policyholder. your policy when it is issued and, at maturity, your investment will be safeguarded by our unique Guaranteed Minimum Maturity Benefit INTRODUCING BSLI FORESIGHT PLAN BEFORE YOU READ ANY FURTHERIn doing your financial planning, you will seek the perfect plan to protect your loved ones and toaccumulate and safeguard your wealth. Presenting BSLI Foresight Plan, the perfect insurance BSLI Foresight Plan is a non-participating unit-linked life insurance plan. All unit-linked lifecum investment plan just for you. insurance plans are different from traditional insurance plans and are subject to different riskBSLI Foresight Plan allows you to choose your life cover to suit your particular insurance needs. factors. The name of this plan and that of the investment funds do not in any way indicate the quality of the plan or future returns.BSLI Foresight Plan allows you to build your own universe of investments through the Self-Managed Option and thus diversify your risk according to your own personal preferences. In this plan, the investment risk in the investment funds chosen by you is borne by you.Alternatively, BSLI Foresight Plan with its Guaranteed Option, allows you to optimise your Investment funds are subject to investment risks and unit prices may go up or down reflectingparticipation in capital markets while safeguarding your investment and any gains thereon. the market value of the underlying assets. Past performance is no guarantee of future results. 2 3
  4. 4. Policy Surrender YOUR PREMIUM AND NET INVESTED PREMIUM In case of emergencies, you can surrender your policy to us after the completion of five policyUnder the Single-Pay option, your premium is payable only once at policy inception. Under years and receive the Fund Value at that time, plus a refund of mortality charges for thethe 5-Pay option, your premium is payable at the beginning of every policy year for a period of remaining term to maturity.5 years. Please ask your financial advisor for details about the range of convenient paymentmethods we offer. YOUR BENEFITSFrom the premium paid by you, we shall deduct: Maturity Benefit- the premium allocation charge; You will receive the Fund Value at maturity, if you are invested in the Self-Managed Option at- the mortality charge for the Basic Sum Assured chosen by you that time.The residual amount, referred to as the Net Invested Premium (or NIP), shall then be used to You will receive the higher of the Guaranteed Minimum Maturity Benefit or the Fund Value atpurchase units in the various investment fund/s offered under this plan and as chosen by you. maturity, if you are invested in the Guaranteed Option at that time.The units purchased in a particular investment fund will be the monetary amount allocated tothe investment fund divided by its then prevailing unit price. We shall not redeem any units from Death Benefityour investment fund/s unless requested by you. Upon the unfortunate demise of the life insured prior to maturity, we shall pay to the nominee the Basic Sum Assured plus the Fund Value as of the date of intimation of death. TRACKING AND MONITORING YOUR INVESTMENTS THE FUND VALUE The death benefit shall never be less than 105% of total premiums paid to date (excluding any applicable underwriting extras) less any previous partial withdrawals.Fund ValueThe Fund Value represents the total value of your investments to date and is the balance of all YOUR INVESTMENT CHOICESunits allocated to your policy multiplied by their respective then prevailing unit price. Under BSLI Foresight Plan, you decide how to invest your Net Invested Premiums (or NIPs)Monitoring Your Investments through the Self-Managed Option or the Guaranteed Option.You can monitor your investments At the inception of the policy, you must choose between the Self-Managed Option and the- On our website (www.birlasunlife.com) with your CPIN and TPIN number; Guaranteed Option. At any time throughout the policy term, you have the freedom to switch from the Guaranteed Option to the Self-Managed Option but not vice-versa. If you decide to- Through the semi-annual statement detailing the number of units you have in each switch from the Guaranteed Option to the Self-Managed Option, your Guaranteed Minimum investment fund and their respective then prevailing unit price; and Maturity Benefit will no longer apply and all future NIPs can then only be allocated to the- Through the published unit prices of all investment funds on our website as well as in investment funds in the Self-Managed Option. the newspapers Self-Managed OptionPartial Withdrawals In this investment option, you decide how to invest your NIPs. We offer 10 investment fundsYou are allowed to make unlimited partial withdrawals any time after (a) five complete policy ranging from 100% debt to 100% equity to suit your particular needs and risk appetite -years or (b) life insured attaining the age of 18, whichever is later. The minimum amount of Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser,partial withdrawal is Rs. 5,000. There is no maximum limit, but you are required to maintain a Multiplier and Super 20.minimum Fund Value equal to Rs. 25,000. 4 5
  5. 5. Policy Surrender YOUR PREMIUM AND NET INVESTED PREMIUM In case of emergencies, you can surrender your policy to us after the completion of five policyUnder the Single-Pay option, your premium is payable only once at policy inception. Under years and receive the Fund Value at that time, plus a refund of mortality charges for thethe 5-Pay option, your premium is payable at the beginning of every policy year for a period of remaining term to maturity.5 years. Please ask your financial advisor for details about the range of convenient paymentmethods we offer. YOUR BENEFITSFrom the premium paid by you, we shall deduct: Maturity Benefit- the premium allocation charge; You will receive the Fund Value at maturity, if you are invested in the Self-Managed Option at- the mortality charge for the Basic Sum Assured chosen by you that time.The residual amount, referred to as the Net Invested Premium (or NIP), shall then be used to You will receive the higher of the Guaranteed Minimum Maturity Benefit or the Fund Value atpurchase units in the various investment fund/s offered under this plan and as chosen by you. maturity, if you are invested in the Guaranteed Option at that time.The units purchased in a particular investment fund will be the monetary amount allocated tothe investment fund divided by its then prevailing unit price. We shall not redeem any units from Death Benefityour investment fund/s unless requested by you. Upon the unfortunate demise of the life insured prior to maturity, we shall pay to the nominee the Basic Sum Assured plus the Fund Value as of the date of intimation of death. TRACKING AND MONITORING YOUR INVESTMENTS THE FUND VALUE The death benefit shall never be less than 105% of total premiums paid to date (excluding any applicable underwriting extras) less any previous partial withdrawals.Fund ValueThe Fund Value represents the total value of your investments to date and is the balance of all YOUR INVESTMENT CHOICESunits allocated to your policy multiplied by their respective then prevailing unit price. Under BSLI Foresight Plan, you decide how to invest your Net Invested Premiums (or NIPs)Monitoring Your Investments through the Self-Managed Option or the Guaranteed Option.You can monitor your investments At the inception of the policy, you must choose between the Self-Managed Option and the- On our website (www.birlasunlife.com) with your CPIN and TPIN number; Guaranteed Option. At any time throughout the policy term, you have the freedom to switch from the Guaranteed Option to the Self-Managed Option but not vice-versa. If you decide to- Through the semi-annual statement detailing the number of units you have in each switch from the Guaranteed Option to the Self-Managed Option, your Guaranteed Minimum investment fund and their respective then prevailing unit price; and Maturity Benefit will no longer apply and all future NIPs can then only be allocated to the- Through the published unit prices of all investment funds on our website as well as in investment funds in the Self-Managed Option. the newspapers Self-Managed OptionPartial Withdrawals In this investment option, you decide how to invest your NIPs. We offer 10 investment fundsYou are allowed to make unlimited partial withdrawals any time after (a) five complete policy ranging from 100% debt to 100% equity to suit your particular needs and risk appetite -years or (b) life insured attaining the age of 18, whichever is later. The minimum amount of Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser,partial withdrawal is Rs. 5,000. There is no maximum limit, but you are required to maintain a Multiplier and Super 20.minimum Fund Value equal to Rs. 25,000. 4 5
  6. 6. If you wish to diversify your risk, you can choose to allocate your NIP in varying proportions For the purpose of the Guaranteed Minimum Maturity Benefit, each Net Invested Premiumamongst the 10 investment funds. We record your allocation instructions as per the (or NIP) is tracked separately and each has its own value (NIP Value) and guaranteepremium allocation percentages specified in the application form. Our only requirement is (NIP Guaranteed Value). To help you understand the Guaranteed Minimum Maturity Benefit,that the percentage allocated to any investment fund be in increments of 5%, ranging from an example is used throughout this section. Please note that the example is only for illustrative5% to 100%. purposes and does not in any way indicate the quality of the investment fund or its future prospects or returns.Our wide range of funds gives you the flexibility to redirect future premiums and change yourpremium allocation percentages applicable to NIPs paid from that point onwards. Also you can The NIP Value represents the current value of a particular NIP invested in this plan. The NIPswitch monies from one investment fund to another at any time provided the switched amount Value on any day is the NIP itself multiplied by the ratio of (i) the current unit price over (ii) theis for at least Rs. 5,000. Switches must however be within the investment funds offered under unit price used when the NIP was paid to purchase the units in the Foresight fund.the Self-Managed Option. Example: NIP of 100,000 is invested using a unit price of 10 to purchase units in theGuaranteed Option Foresight fund.In this investment option, all your NIPs will be invested in the Foresight fund assigned to • If the current unit price is 12, the NIP Value is 100,000 x 12 / 10 = 120,000your policy when it is issued. The Foresight fund is our latest and new generation investment • If the current unit price is 8, the NIP Value is 100,000 x 8 / 10 = 80,000fund with a Guaranteed Minimum Maturity Benefit employing proprietary and sophisticatedinvestment techniques to optimize your participation in the equity markets while safeguarding The NIP Guaranteed Value represents the minimum value we guarantee at maturity on ayour investments. particular NIP. BSLI Foresight Plan, with its Guaranteed Option, gives you the benefit of not only protecting the NIP itself but also the benefit of locking in the highest gains thereon achieved during the first 7 policy years. This is accomplished with the NIP Guaranteed Value being equal to the highest NIP Value recorded on a daily basis over the first 7 policy years. Example: NIP of 100,000 had its NIP Value peak at 200,000 on a particular day during the first 7 policy years. The NIP Guaranteed Value is 200,000. For your entire policy, the Fund Value is the sum of all your NIP Values as of date. Your Guaranteed Minimum Maturity Benefit is similarly defined as the sum of all your NIP Guaranteed Values. At maturity and provided you remain invested in the Guaranteed Option, you will receive the Fund Value or the Guaranteed Minimum Maturity Benefit, whichever is higher. Note that your Guaranteed Minimum Maturity Benefit shall be reduced proportionately in case you take a partial withdrawal at any time after completing 5 policy years. For example, if you withdraw 20% of your Fund Value on a particular day, then each of your NIP Guaranteed Values (and thus your Guaranteed Minimum Maturity Benefit) will also be reduced by 20% on that date. 6 7
  7. 7. If you wish to diversify your risk, you can choose to allocate your NIP in varying proportions For the purpose of the Guaranteed Minimum Maturity Benefit, each Net Invested Premiumamongst the 10 investment funds. We record your allocation instructions as per the (or NIP) is tracked separately and each has its own value (NIP Value) and guaranteepremium allocation percentages specified in the application form. Our only requirement is (NIP Guaranteed Value). To help you understand the Guaranteed Minimum Maturity Benefit,that the percentage allocated to any investment fund be in increments of 5%, ranging from an example is used throughout this section. Please note that the example is only for illustrative5% to 100%. purposes and does not in any way indicate the quality of the investment fund or its future prospects or returns.Our wide range of funds gives you the flexibility to redirect future premiums and change yourpremium allocation percentages applicable to NIPs paid from that point onwards. Also you can The NIP Value represents the current value of a particular NIP invested in this plan. The NIPswitch monies from one investment fund to another at any time provided the switched amount Value on any day is the NIP itself multiplied by the ratio of (i) the current unit price over (ii) theis for at least Rs. 5,000. Switches must however be within the investment funds offered under unit price used when the NIP was paid to purchase the units in the Foresight fund.the Self-Managed Option. Example: NIP of 100,000 is invested using a unit price of 10 to purchase units in theGuaranteed Option Foresight fund.In this investment option, all your NIPs will be invested in the Foresight fund assigned to • If the current unit price is 12, the NIP Value is 100,000 x 12 / 10 = 120,000your policy when it is issued. The Foresight fund is our latest and new generation investment • If the current unit price is 8, the NIP Value is 100,000 x 8 / 10 = 80,000fund with a Guaranteed Minimum Maturity Benefit employing proprietary and sophisticatedinvestment techniques to optimize your participation in the equity markets while safeguarding The NIP Guaranteed Value represents the minimum value we guarantee at maturity on ayour investments. particular NIP. BSLI Foresight Plan, with its Guaranteed Option, gives you the benefit of not only protecting the NIP itself but also the benefit of locking in the highest gains thereon achieved during the first 7 policy years. This is accomplished with the NIP Guaranteed Value being equal to the highest NIP Value recorded on a daily basis over the first 7 policy years. Example: NIP of 100,000 had its NIP Value peak at 200,000 on a particular day during the first 7 policy years. The NIP Guaranteed Value is 200,000. For your entire policy, the Fund Value is the sum of all your NIP Values as of date. Your Guaranteed Minimum Maturity Benefit is similarly defined as the sum of all your NIP Guaranteed Values. At maturity and provided you remain invested in the Guaranteed Option, you will receive the Fund Value or the Guaranteed Minimum Maturity Benefit, whichever is higher. Note that your Guaranteed Minimum Maturity Benefit shall be reduced proportionately in case you take a partial withdrawal at any time after completing 5 policy years. For example, if you withdraw 20% of your Fund Value on a particular day, then each of your NIP Guaranteed Values (and thus your Guaranteed Minimum Maturity Benefit) will also be reduced by 20% on that date. 6 7
  8. 8. - The second component of the special NIP Guaranteed Value adds back this amount, YOUR UNIQUE FORESIGHT ADVANTAGE 162,500 - 150,000 = 12,500 (APPLICABLE ONLY FOR THE 5-PAY OPTION) Adding the two components gives a special NIP Guaranteed Value ofYou will enjoy our new and innovative investment guarantee by committing 5 yearly premiums. 187,500 + 12,500 = 200,000.At the end of the 5th policy year, we will determine a special NIP Guaranteed Value for each NIPinvested in this plan. Your NIP Guaranteed Value will then be the higher of this special NIP INVESTMENT FUNDSGuaranteed Value or the one in the previous section representing the highest NIP Valueachieved during the first 7 policy years. The portfolio of different investment funds is given below:The special NIP Guaranteed Value is the sum of (a) and (b) where: Investment Risk Segregated Fund Asset Allocation* Min. Max. Fund Profile Identification Numbera) Reflects the foresight to invest on the best day possible Income Very Debt Instruments, Money Market & Cash 100% 100% ULIF01507/08/08BSLIINCADV109 This first component allows you to benefit from the growth that would have been achieved Advantage Low Equities & Equity Related Securities 0% 0% if your NIP was invested on the best day possible during the policy year in which the NIP Assure Very ULIF01008/07/05BSLIASSURE109 Debt Instruments, Money Market & Cash 100% 100% Low Equities & Equity Related Securities 0% 0% was invested. Debt Instruments, Money Market & Cash 90% 100% Protector Low ULIF00313/03/01BSLPROTECT109 It equals the NIP itself multiplied by the ratio of: Equities & Equity Related Securities 0% 10% - the NIP Value as of the end of the 5th policy year; over Builder Low ULIF00113/03/01BSLBUILDER109 Debt Instruments, Money Market & Cash 80% 90% Equities & Equity Related Securities 10% 20% - the lowest NIP Value recorded during the policy year in which the NIP was invested Debt Instruments, Money Market & Cash 65% 80% Enhancer Medium ULIF00213/03/01BSLENHANCE109 th Equities & Equity Related Securities 20% 35% Example: NIP of 100,000 has a current NIP Value of 150,000 at the end of the 5 policy Debt Instruments, Money Market & Cash 50% 70% year. The current value is therefore 150% of the NIP. Creator Medium ULIF00704/02/04BSLCREATOR109 Equities & Equity Related Securities 30% 50% - Say that in the policy year in which the NIP was invested, its NIP Value dropped to Debt Instruments, Money Market & Cash 10% 50% Magnifier High ULIF00826/06/04BSLIIMAGNI109 80,000 on a particular day. This means that the current NIP Value of 150,000 is 187.5% Equities & Equity Related Securities 50% 90% of this low point of 80,000. If the NIP of 100,000 was invested on that particular day Debt Instruments, Money Market & Cash 0% 20% Maximiser High ULIF01101/06/07BSLIINMAXI109 instead, it would now be worth 100,000 x 187.5% or 187,500 today Equities & Equity Related Securities 80% 100% Debt Instruments, Money Market & Cash 0% 20% - The first component of the special NIP Guaranteed Value is exactly this amount, Multiplier High ULIF01217/10/07BSLINMULTI109 Equities & Equity Related Securities 80% 100% 100,000 x 150,000 / 80,000 = 187,500 Debt Instruments, Money Market & Cash 0% 20% Super 20 High ULIF01723/06/09BSLSUPER20109 Equities & Equity Related Securities 80% 100%b) Reflects the foresight to lock-in gains on the best day possible Foresight 5P ULIF02510/02/11BSLFSIT5P1109 Debt Instruments (short term & long term) 0% 100% High The second component allows you to benefit from the lock-in of the highest gains Foresight SP ULIF02610/02/11BSLFSITSP1109 Equities & Equity Related Securities 0% 100% achieved to date. * In each Investment Fund except Foresight 5P and Foresight SP, the Short Term Debt Instruments (Money It equals the: Market, Mutual Fund & Cash) asset allocation will not exceed 40%. - the highest NIP Value achieved during the first 5 policy years; less Money Market Instruments are debt instruments of less than one year maturity. It includes collateralised borrowing & lending obligation, certificate of deposits, commercial papers etc. Investment in Money Market Instrument th - the NIP Value as of the end of the 5 policy year supports for better liquidity management. Example: NIP of 100,000 had its NIP Value peak at 162,500 on a particular day and has since dropped to its current NIP Value of 150,000 at the end of the 5th policy year. The current NIP Value is therefore 12,500 less than its previous peak. 8 9
  9. 9. - The second component of the special NIP Guaranteed Value adds back this amount, YOUR UNIQUE FORESIGHT ADVANTAGE 162,500 - 150,000 = 12,500 (APPLICABLE ONLY FOR THE 5-PAY OPTION) Adding the two components gives a special NIP Guaranteed Value ofYou will enjoy our new and innovative investment guarantee by committing 5 yearly premiums. 187,500 + 12,500 = 200,000.At the end of the 5th policy year, we will determine a special NIP Guaranteed Value for each NIPinvested in this plan. Your NIP Guaranteed Value will then be the higher of this special NIP INVESTMENT FUNDSGuaranteed Value or the one in the previous section representing the highest NIP Valueachieved during the first 7 policy years. The portfolio of different investment funds is given below:The special NIP Guaranteed Value is the sum of (a) and (b) where: Investment Risk Segregated Fund Asset Allocation* Min. Max. Fund Profile Identification Numbera) Reflects the foresight to invest on the best day possible Income Very Debt Instruments (short term & long term) 100% 100% ULIF01507/08/08BSLIINCADV109 This first component allows you to benefit from the growth that would have been achieved Advantage Low Equities & Equity Related Securities 0% 0% if your NIP was invested on the best day possible during the policy year in which the NIP Assure Very ULIF01008/07/05BSLIASSURE109 Debt Instruments (short term & long term) 100% 100% Low Equities & Equity Related Securities 0% 0% was invested. Debt Instruments (short term & long term) 90% 100% Protector Low ULIF00313/03/01BSLPROTECT109 It equals the NIP itself multiplied by the ratio of: Equities & Equity Related Securities 0% 10% - the NIP Value as of the end of the 5th policy year; over Builder Low ULIF00113/03/01BSLBUILDER109 Debt Instruments (short term & long term) 80% 90% Equities & Equity Related Securities 10% 20% - the lowest NIP Value recorded during the policy year in which the NIP was invested Debt Instruments (short term & long term) 65% 80% Enhancer Medium ULIF00213/03/01BSLENHANCE109 th Equities & Equity Related Securities 20% 35% Example: NIP of 100,000 has a current NIP Value of 150,000 at the end of the 5 policy Debt Instruments (short term & long term) 50% 70% year. The current value is therefore 150% of the NIP. Creator Medium ULIF00704/02/04BSLCREATOR109 Equities & Equity Related Securities 30% 50% - Say that in the policy year in which the NIP was invested, its NIP Value dropped to Debt Instruments (short term & long term) 10% 50% Magnifier High ULIF00826/06/04BSLIIMAGNI109 80,000 on a particular day. This means that the current NIP Value of 150,000 is 187.5% Equities & Equity Related Securities 50% 90% of this low point of 80,000. If the NIP of 100,000 was invested on that particular day Debt Instruments (short term & long term) 0% 20% Maximiser High ULIF01101/06/07BSLIINMAXI109 instead, it would now be worth 100,000 x 187.5% or 187,500 today Equities & Equity Related Securities 80% 100% Debt Instruments (short term & long term) 0% 20% - The first component of the special NIP Guaranteed Value is exactly this amount, Multiplier High ULIF01217/10/07BSLINMULTI109 Equities & Equity Related Securities 80% 100% 100,000 x 150,000 / 80,000 = 187,500 Debt Instruments (short term & long term) 0% 20% Super 20 High ULIF01723/06/09BSLSUPER20109 Equities & Equity Related Securities 80% 100%b) Reflects the foresight to lock-in gains on the best day possible Foresight 5P ULIF02510/02/11BSLFSIT5P1109 Debt Instruments (short term & long term) 0% 100% High The second component allows you to benefit from the lock-in of the highest gains Foresight SP ULIF02610/02/11BSLFSITSP1109 Equities & Equity Related Securities 0% 100% achieved to date. * In each Investment Fund except Foresight 5P and Foresight SP, the Short Term Debt Instruments (Money It equals the: Market, Mutual Fund & Cash) asset allocation will not exceed 40%. - the highest NIP Value achieved during the first 5 policy years; less Money Market Instruments are debt instruments of less than one year maturity. It includes collateralised borrowing & lending obligation, certificate of deposits, commercial papers etc. Investment in Money Market Instrument th - the NIP Value as of the end of the 5 policy year supports for better liquidity management. Example: NIP of 100,000 had its NIP Value peak at 162,500 on a particular day and has since dropped to its current NIP Value of 150,000 at the end of the 5th policy year. The current NIP Value is therefore 12,500 less than its previous peak. 8 9
  10. 10. Income Advantage ProtectorObjective: To provide capital preservation and regular income, at a high level of safety over a Objective: To generate consistent returns through active management of a fixed incomemedium term horizon by investing in high quality debt instruments. portfolio and focus on creating a long-term equity portfolio, which will enhance the yield of the composite portfolio with minimum risk appetite.Strategy: To actively manage the fund by building a portfolio of fixed income instruments withmedium term duration. The fund will invest in government securities, high rated corporate Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% atbonds, high quality money market instruments and other fixed income securities. The quality of low level of risk. This investment fund is suitable for those who want to preserve their capitalthe assets purchased would aim to minimize the credit risk and liquidity risk of the portfolio. The and earn a steady return on investment through higher exposure to debt securities.fund will maintain reasonable level of liquidity. BuilderAssure Objective: To build capital and generate better returns at moderate level of risk, over a mediumObjective: To provide capital conservation, at a high level of safety and liquidity through or long-term period through a balance of investment in equity and debt.judicious investments in high quality short-term debt. Strategy: To generate better returns with moderate level of risk through active management ofStrategy: To generate better return with low level of risk through investment into fixed interest a fixed income portfolio and focus on creating a long-term equity portfolio, which will enhancesecurities having short-term maturity profile. the yield of the composite portfolio with low level of risk appetite. Enhancer Objective: To grow capital through enhanced returns over a medium to long-term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This investment fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities. Strategy: To earn capital appreciation by maintaining a diversified equity portfolio and seek to earn regular returns on the fixed income portfolio by active management resulting in wealth creation for policy owners. Creator Objective: To achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This fund option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time. Strategy: To invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholders wealth in long run. Magnifier Objective: To maximise wealth by managing diversified portfolio. Strategy: To invest in high quality equity security to provide long-term capital appreciation with high level of risk. This fund option is suitable for those who want to have wealth maximisation over long-term period with equity market dynamics. 10 11
  11. 11. Income Advantage ProtectorObjective: To provide capital preservation and regular income, at a high level of safety over a Objective: To generate consistent returns through active management of a fixed incomemedium term horizon by investing in high quality debt instruments. portfolio and focus on creating a long-term equity portfolio, which will enhance the yield of the composite portfolio with minimum risk appetite.Strategy: To actively manage the fund by building a portfolio of fixed income instruments withmedium term duration. The fund will invest in government securities, high rated corporate Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% atbonds, high quality money market instruments and other fixed income securities. The quality of low level of risk. This investment fund is suitable for those who want to preserve their capitalthe assets purchased would aim to minimize the credit risk and liquidity risk of the portfolio. The and earn a steady return on investment through higher exposure to debt securities.fund will maintain reasonable level of liquidity. BuilderAssure Objective: To build capital and generate better returns at moderate level of risk, over a mediumObjective: To provide capital conservation, at a high level of safety and liquidity through or long-term period through a balance of investment in equity and debt.judicious investments in high quality short-term debt. Strategy: To generate better returns with moderate level of risk through active management ofStrategy: To generate better return with low level of risk through investment into fixed interest a fixed income portfolio and focus on creating a long-term equity portfolio, which will enhancesecurities having short-term maturity profile. the yield of the composite portfolio with low level of risk appetite. Enhancer Objective: To grow capital through enhanced returns over a medium to long-term period through investments in equity and debt instruments, thereby providing a good balance between risk and return. This investment fund is suitable for those who want to earn higher return on investment through balanced exposure to equity and debt securities. Strategy: To earn capital appreciation by maintaining a diversified equity portfolio and seek to earn regular returns on the fixed income portfolio by active management resulting in wealth creation for policy owners. Creator Objective: To achieve optimum balance between growth and stability to provide long-term capital appreciation with balanced level of risk by investing in fixed income securities and high quality equity security. This fund option is for those who are willing to take average to high level of risk to earn attractive returns over a long period of time. Strategy: To invest into fixed income securities & maintaining diversified equity portfolio along with active fund management policyholders wealth in long run. Magnifier Objective: To maximise wealth by managing diversified portfolio. Strategy: To invest in high quality equity security to provide long-term capital appreciation with high level of risk. This fund option is suitable for those who want to have wealth maximisation over long-term period with equity market dynamics. 10 11
  12. 12. Maximiser Foresight 5PObjective: To provide long term capital appreciation by actively managing a well-diversified Foresight SPequity portfolio of fundamentally strong blue chip companies. Further, the fund seeks to Objective: To optimise the participation in an actively managed well-diversified equity portfolioprovide a cushion against the sudden volatility in the equities through some investments in of fundamentally strong blue chip companies while using debt instruments and derivatives toshort-term money market instruments. lock-in capital appreciations. The use of derivatives will be for hedging purposes only and asStrategy: To build and actively manage a well-diversified equity portfolio of value and growth approved by the IRDA.driven stocks by following a research focused investment approach. While appreciating the Strategy: To dynamically manage the allocation between equities and fixed incomehigh risk associated with equities, the fund would attempt to maximise the risk-return pay off instruments, while using derivatives when necessary and for hedging purposes only. The equityfor the long-term advantage of the policyholders. The fund will also explore the option of investment strategy will revolve around building and actively managing a well-diversifiedhaving exposure to quality mid cap stocks. The non-equity portion of the fund will be invested equity portfolio of value & growth driven fundamentally strong blue-chip companies byin good rated (P1/A1 & above) money market instruments and fixed deposits. The fund will following a research-focused investment approach. On the fixed income side, investments willalso maintain a reasonable level of liquidity. be made in government securities, high rated corporate bonds and money market instruments.Multiplier OUR POLICY CHARGESObjective: To provide long-term wealth maximisation by actively managing a well-diversifiedequity portfolio, predominantly comprising of companies whose market capitalisation is close The charges under this plan are designed to optimise the long-term return on your investmentsto Rs. 1000 crores and above. while providing for the costs of insurance, distribution and administration of your policy.Strategy: To build and actively manage a well-diversified equity portfolio of value & growth Premium Allocation Chargedriven stocks by following a research driven investment approach. The investments wouldbe predominantly made in mid cap stocks, with an option to invest 30% in large cap stocks as A premium allocation charge of 5% is levied on the Basic Premium when received.well. While appreciating the high risk associated with equities, the fund would attempt to Fund Management Chargemaximise the risk-return pay-off for the long-term advantage of the policyholders. The fund willalso maintain reasonable level of liquidity. The daily unit price of the investment fund is adjusted to reflect the fund management charge.Super 20 - 1.00% p.a. for Income Advantage, Assure, Protector and Builder - 1.25% p.a. for Enhancer and CreatorObjective: To generate long-term capital appreciation for policyholders by making investmentsin fundamentally strong and liquid large cap companies. - 1.35% p.a. for Magnifier, Maximiser, Multiplier, Super 20 and ForesightStrategy: To build and actively manage an equity portfolio of 20 fundamentally strong large In the case of the Foresight fund, the charge shall be increased by 0.25% p.a. under the Single-cap stocks in terms of market capitalisation by following an in-depth research-focused Pay option and 0.40% p.a. under the 5-Pay option to provide for the investment guarantee.investment approach. The fund will attempt to adequately diversify across sectors. The fund We may change the fund management charge under any investment fund at any time in thewill invest in companies having financial strength, robust, efficient & visionary management, future subject to IRDA approval.enjoying competitive advantage along with good growth prospects & adequate marketliquidity. The fund will adopt a disciplined yet flexible long-term approach towards investing Policy Administration Chargewith a focus on generating long-term capital appreciation. The non-equity portion of the fund There is no policy administration charge in this plan.will be invested in high rated money market instruments and fixed deposits. The fund will alsomaintain reasonable level of liquidity. Mortality Charge A mortality charge is deducted for the Basic Premium when received. The charge per 1000 of Basic Sum Assured will depend on the gender and entry age of the life insured. 12 13
  13. 13. Maximiser Foresight 5PObjective: To provide long term capital appreciation by actively managing a well-diversified Foresight SPequity portfolio of fundamentally strong blue chip companies. Further, the fund seeks to Objective: To optimise the participation in an actively managed well-diversified equity portfolioprovide a cushion against the sudden volatility in the equities through some investments in of fundamentally strong blue chip companies while using debt instruments and derivatives toshort-term money market instruments. lock-in capital appreciations. The use of derivatives will be for hedging purposes only and asStrategy: To build and actively manage a well-diversified equity portfolio of value and growth approved by the IRDA.driven stocks by following a research focused investment approach. While appreciating the Strategy: To dynamically manage the allocation between equities and fixed incomehigh risk associated with equities, the fund would attempt to maximise the risk-return pay off instruments, while using derivatives when necessary and for hedging purposes only. The equityfor the long-term advantage of the policyholders. The fund will also explore the option of investment strategy will revolve around building and actively managing a well-diversifiedhaving exposure to quality mid cap stocks. The non-equity portion of the fund will be invested equity portfolio of value & growth driven fundamentally strong blue-chip companies byin good rated (P1/A1 & above) money market instruments and fixed deposits. The fund will following a research-focused investment approach. On the fixed income side, investments willalso maintain a reasonable level of liquidity. be made in government securities, high rated corporate bonds and money market instruments.Multiplier OUR POLICY CHARGESObjective: To provide long-term wealth maximisation by actively managing a well-diversifiedequity portfolio, predominantly comprising of companies whose market capitalisation is close The charges under this plan are designed to optimise the long-term return on your investmentsto Rs. 1000 crores and above. while providing for the costs of insurance, distribution and administration of your policy.Strategy: To build and actively manage a well-diversified equity portfolio of value & growth Premium Allocation Chargedriven stocks by following a research driven investment approach. The investments wouldbe predominantly made in mid cap stocks, with an option to invest 30% in large cap stocks as A premium allocation charge of 5% is levied on the Basic Premium when received.well. While appreciating the high risk associated with equities, the fund would attempt to Fund Management Chargemaximise the risk-return pay-off for the long-term advantage of the policyholders. The fund willalso maintain reasonable level of liquidity. The daily unit price of the investment fund is adjusted to reflect the fund management charge.Super 20 - 1.00% p.a. for Income Advantage, Assure, Protector and Builder - 1.25% p.a. for Enhancer and CreatorObjective: To generate long-term capital appreciation for policyholders by making investmentsin fundamentally strong and liquid large cap companies. - 1.35% p.a. for Magnifier, Maximiser, Multiplier, Super 20 and ForesightStrategy: To build and actively manage an equity portfolio of 20 fundamentally strong large In the case of the Foresight fund, the charge shall be increased by 0.25% p.a. under the Single-cap stocks in terms of market capitalisation by following an in-depth research-focused Pay option and 0.40% p.a. under the 5-Pay option to provide for the investment guarantee.investment approach. The fund will attempt to adequately diversify across sectors. The fund We may change the fund management charge under any investment fund at any time in thewill invest in companies having financial strength, robust, efficient & visionary management, future subject to IRDA approval.enjoying competitive advantage along with good growth prospects & adequate marketliquidity. The fund will adopt a disciplined yet flexible long-term approach towards investing Policy Administration Chargewith a focus on generating long-term capital appreciation. The non-equity portion of the fund There is no policy administration charge in this plan.will be invested in high rated money market instruments and fixed deposits. The fund will alsomaintain reasonable level of liquidity. Mortality Charge A mortality charge is deducted for the Basic Premium when received. The charge per 1000 of Basic Sum Assured will depend on the gender and entry age of the life insured. 12 13
  14. 14. Under the Single-Pay Option Under the 5-Pay Option Gender Age 25 Age 35 Age 45 Age 55 Age 25 Age 35 Age 45 Age 55 Male 9.831 13.177 26.625 65.333 2.570 3.510 7.340 17.710 Female 9.616 11.447 20.676 49.629 2.510 3.020 5.670 13.680Sample rates are provided for your reference. Please visit our website or ask your financialadvisor for the rates applicable to you.Miscellaneous ChargesWe currently charge 50 per request for premium re-direction, fund switch and partialwithdrawal. We do however reserve the right to charge up to 500 per request in the future. Wepresently charge 100 per policy revival. We may increase this charge in the future subject to amaximum of 1,000 per revival. Any increase in the miscellaneous charges will be subject toIRDA approval.Service TaxService Tax and other levies, as applicable, will be extra and levied as per the extant tax laws.IRDA ApprovalOnly when specified and within stated limits, we may increase a particular charge at any time inthe future. We, however, need to get prior approval from the IRDA before such charge increaseis effective. Otherwise, all other charges in this policy are guaranteed to never increase duringthe tenure of the policy. If you do not pay your due and unpaid premiums within 30 days as stipulated in our notice you shall be deemed to have chosen the option to completely withdraw from the policy. Till this TERMS AND CONDITIONS period, your policy as well as all insurance cover and charges will continue. Should you completely withdraw from the policy, the insurance cover will cease and your FundFree-Look Period Value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.You will have the right to return your policy to us within 15 days from the date of receipt of the The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. onpolicy, in case you are not satisfied with the terms & conditions of your policy. We will pay the compounding basis and the proceeds from this will be payable to you on the dateFund Value plus all charges levied till date (excluding the fund management charge) once we corresponding to your fifth policy anniversary or the date the life insured dies, if sooner. Thereceive your written notice of cancellation (along with reasons thereof) together with the original discontinuance charge is as per the following table:policy documents. Depending on our then current administration rules, we may reduce the Policy Discontinued Discontinuance Chargeamount of the refund by expenditures incurred by us in issuing your policy and as permitted bythe IRDA and in accordance to IRDA (Protection of Policyholders Interest) Regulations, 2002. In Policy Year 1 Lower of 6% of AP, 6% of FV, Rs. 6,000 In Policy Year 2 Lower of 4% of AP, 4% of FV, Rs. 5,000Policy Discontinuance In Policy Year 3 Lower of 3% of AP, 3% of FV, Rs. 4,000For the 5-Pay option, you are given a grace period of 30-days to pay the due premium. If we do In Policy Year 4 Lower of 2% of AP, 2% of FV, Rs. 2,000not receive your full premium by the end of the grace period, we shall send you a reminder In Policy Year 5 Nilnotice within 15 days to revive the policy by paying your due and unpaid premium or to chooseto withdraw from the policy completely. Where AP is Annual Premium and FV is Fund Value. 14 15
  15. 15. Under the Single-Pay Option Under the 5-Pay Option Gender Age 25 Age 35 Age 45 Age 55 Age 25 Age 35 Age 45 Age 55 Male 9.831 13.177 26.625 65.333 2.570 3.510 7.340 17.710 Female 9.616 11.447 20.676 49.629 2.510 3.020 5.670 13.680Sample rates are provided for your reference. Please visit our website or ask your financialadvisor for the rates applicable to you.Miscellaneous ChargesWe currently charge 50 per request for premium re-direction, fund switch and partialwithdrawal. We do however reserve the right to charge up to 500 per request in the future. Wepresently charge 100 per policy revival. We may increase this charge in the future subject to amaximum of 1,000 per revival. Any increase in the miscellaneous charges will be subject toIRDA approval.Service TaxService Tax and other levies, as applicable, will be extra and levied as per the extant tax laws.IRDA ApprovalOnly when specified and within stated limits, we may increase a particular charge at any time inthe future. We, however, need to get prior approval from the IRDA before such charge increaseis effective. Otherwise, all other charges in this policy are guaranteed to never increase duringthe tenure of the policy. If you do not pay your due and unpaid premiums within 30 days as stipulated in our notice you shall be deemed to have chosen the option to completely withdraw from the policy. Till this TERMS AND CONDITIONS period, your policy as well as all insurance cover and charges will continue. Should you completely withdraw from the policy, the insurance cover will cease and your FundFree-Look Period Value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.You will have the right to return your policy to us within 15 days from the date of receipt of the The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. onpolicy, in case you are not satisfied with the terms & conditions of your policy. We will pay the compounding basis and the proceeds from this will be payable to you on the dateFund Value plus all charges levied till date (excluding the fund management charge) once we corresponding to your fifth policy anniversary or the date the life insured dies, if sooner. Thereceive your written notice of cancellation (along with reasons thereof) together with the original discontinuance charge is as per the following table:policy documents. Depending on our then current administration rules, we may reduce the Policy Discontinued Discontinuance Chargeamount of the refund by expenditures incurred by us in issuing your policy and as permitted bythe IRDA and in accordance to IRDA (Protection of Policyholders Interest) Regulations, 2002. In Policy Year 1 Lower of 6% of AP, 6% of FV, Rs. 6,000 In Policy Year 2 Lower of 4% of AP, 4% of FV, Rs. 5,000Policy Discontinuance In Policy Year 3 Lower of 3% of AP, 3% of FV, Rs. 4,000For the 5-Pay option, you are given a grace period of 30-days to pay the due premium. If we do In Policy Year 4 Lower of 2% of AP, 2% of FV, Rs. 2,000not receive your full premium by the end of the grace period, we shall send you a reminder In Policy Year 5 Nilnotice within 15 days to revive the policy by paying your due and unpaid premium or to chooseto withdraw from the policy completely. Where AP is Annual Premium and FV is Fund Value. 14 15
  16. 16. Policy Loans person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate ofYou can avail of a loan on your policy. The minimum loan amount is Rs. 5,000 and the the premium shown on the policy, nor shall any person taking out or renewing or continuingmaximum loan amount is 40% of the Fund Value net of any discontinuance charges. The a policy accept any rebate, except such rebate as may be allowed in accordance with theinterest we charge on such loans will be fixed by us from time to time based on then prevailing published prospectuses or tables of the insurer.market conditions. Any proceeds payable upon policy termination due to death, surrender ormaturity shall be reduced by any outstanding policy loan at that time. Should the outstanding Any person making default in complying with the provisions of this section shall be punishablepolicy loan balance equal or exceed the surrender value of your policy at any time, then the with a fine which may extend to five hundred rupees.policy shall be terminated without value. Note that prior to this happening, we shall give you an Non-Disclosure - Section 45 of the Insurance Act, 1938opportunity to repay all or part of your outstanding loan balance in order for your policy tocontinue uninterrupted. We shall notify you when your outstanding loan balance is 95% or No policy of life insurance effected after the coming into force of this Act shall, after the expiry ofmore of your surrender value. two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, orTop-up Premiums friend of the life insured, or in any other document leading to the issue of the policy, wasTop-up premiums are not allowed in this plan. inaccurate or false, unless the insurer shows that such statement was on a material matter orAdvance Payment of Premiums suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was falseYou can avail of our client servicing facility allowing you to advance payment of policy premiums or that it suppressed facts which it was material to disclose.for up to 5 years. Provided that nothing in this section shall prevent the insurer from calling for proof of age atCurrent Tax Benefits any time if he is entitled to do so, and no policy shall be deemed to be called in question merelyAs per extant tax laws, this plan offers tax benefits under Section 80C and Section 10 (10D) of because the terms of the policy are adjusted on subsequent proof that the age of the lifethe Income Tax Act, 1961. insured was incorrectly stated in the application.- Under Section 80C, premiums up to 1,00,000 are allowed as a deduction from your taxable income each year BIRLA SUN LIFE INSURANCE - A COMING TOGETHER- Under Section 10 (10D), the benefits you receive from this plan are exempt from tax, subject OF VALUES to mentioned exclusions About Birla Sun Life InsuranceExclusions Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya BirlaWe will refund higher of the Fund Value or Basic Premiums paid to date, in the event the life Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leadinginsured dies by suicide, whether medically sane or insane, within one year after the issue date international financial services organizations from Canada. With an experience of over aof the policy. decade, BSLI has contributed to the growth and development of the Indian life insuranceNomination and Assignment industry and currently is one of the leading life insurance companies in the country. Enjoying trust of over 2.4 Million customers, BSLI is known for innovations. BSLI offers a completeIn case you, the policyholder are also the life insured, you need to nominate a person who range of offerings comprising of protection solutions, childrens future solutions, wealth withshall be entitled to the death benefit in case of death. This nomination shall be in accordance protection, health and wellness as well as retirement solutions and has an extensivewith Section 39 of the Insurance Act, 1938. You also have the right to assign your policy in distribution reach over 500 cities through its network of over 600 branches, over 140058accordance with Section 38 of the Insurance Act, 1938. empanelled advisors and over 240 partnerships with Corporate Agents and Banks. The AUMProhibition of Rebates - Section 41 of the Insurance Act, 1938 of Birla Sun Life Insurance is close to Rs19146 crs and it has a robust capital base of over Rs. 2450 crs as on August 31, 2011. For more information, please visit www.birlasunlife.comNo person shall allow or offer to allow, either directly or indirectly, as an inducement to any 16 17
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