BIJU PATNAIK INSTITUTE OF IT &

MANAGEMENT STUDIES
MBA

SUMMER INTERNSHIP
REPORT 2017

STUDENT NAME: BPUT

REGD .NO:

Asutosh Mohanty 1606258035

FACULTY GUIDE: PROF. BHAGBAN BEHERA

CORPORATE GUIDE: DEBenjan CHAtTARJI

(MARKETING
Manager)
 A final project report submitted to

BIJU PATNAIK UNIVERSITY OF TECHNOLOGY, ODISHA

(For the partial fulfilment of the Requirement of the Degree of MBA)

2016-2018

A
PROJECT REPORT
ON
PRODUCT PORTFOLIO MANAGEMENT OF BIRLA SUNLIFE
INSURANCE

Submitted by

ASUTOSH MOHANTY

BPUT REGD. No. : 1606258035

UNDER THE GUIDANCE OF

MR.BHAGAVAN BEHERA

BIJU PATNAIK INSTITUTE OF IT & MANAGEMENT STUDIES

BHUBANESWAR
 Biju Patnaik Institute of IT &
Management
ePublications@biitm

Summer Project Report Management

A REPORT ON PRODUCT PORTFOLIO MANAGEMENT AT BIRLA SUN

LIFE INSURANCE LIIMTED

MR. ASUTOSH MOHANTY

Biju Patnaik Institute of IT & Management Studies, Bhubaneswar
Affiliated to Biju Patnaik University of Technology, Odisha
BPUT Registration Number: 1606258035
E mail: asutoshindustries@gmail.com

Internal Faculty Guide: Prof. BHAGAVAN BEHERA, Asst. Prof., BIITM,

Bhubaneswar
External Corporate Guide: Mr. DEBENJAN CHATTARJI

Follow this and additional works at: http://www.biitm.ac.in/epublication

Recommended Citation

Asutosh Mohanty A STUDY ON EQUITY RESERCH OF AUTOMOBILE SECTOR

AT BIRLA SUN LIFE INSURANCE LIIMTED
This Summer Internship Project Report is brought to you by the Faculty of Management
at ePublications@biitm.
It has been accepted for analysis in Management ePublication by an authorized
administrator of ePublications@biitm. For more information, please contact Biju Patnaik
Institute of IT & Management Studies, Bhubaneswar SIP Repository Coordinator at
sip.biitm@gmail.com
 CERTIFICATE FROM THE GUIDE

WHOM SO EVER IT MAY CONCERN

This is to certify that the Project Work titled A REPORT ON PRODUCT

PORTFOLIO MANAGEMENT is a bonafide work of ASUTOSH MOHANTY

Enroll/Reg. No: 1606258035 carried out in partial fulfilment for the award of degree of

MASTER IN BUSINESS ADMINISTRATION FOR THE SESSION (2016-2018) of

Biju Patnaik University of Technology, Odisha under my guidance. This project work is

original and not submitted earlier for the award of any degree / diploma or associate ship

of any other University / Institution. The thesis:

Embodies the work of the candidate himself

Has duly been completed
Fulfils the requirements of the rules and regulation relating to the summer
internship of Institute,
Is up to the standard both in respect to contents and language for being referred to
the examiner.

Place: Signature of Guide

Date: Bhagavan Behera

 DECLARATION

I hereby declare that the project report entitled PRODUCT PORTFOLIO

MANAGEMENT AT BIRLA SUNLIFE INSURANCE, BHUBANESWAR is my sincere
endeavor. It bonafide record of the work presented by myself alone at Biju
Patnaik Institute of IT & Management Studies, Bhubaneswar onwards the
partial fulfillment of the requirement of the degree in MBA and the report
has not been submitted to any other educational institutions for any other
degree.

DATE:

NAME-AsutoshMohanty
Roll No. - 1606258035
 ACKNOWLEDGEMENT

I am obliged to my Faculty guide Prof. Bhagaban Behera for providing time, effort

and most of all his patience in helping me for preparing this project report. I am also

thankful to all the faculty members of our college for their kind cooperation with me to

write this report.

I feel immense pleasure to express my deep sense of gratitude to Mr. Debanand

Chaterjee (Marketing Manager, Birla Sunlife Insurance) as corporate guide whose

expert guidance and deep knowledge help me to complete my project in this short span of

time. I am also thankful to all the staff members of BIRLA SUNLIFE INSURANCE

who extended their hands and cooperation directly or indirectly for successful

completion of the training programme.

Lastly, I am thankful to my family members and friends for providing me moral support

to do this project successfully.

DATE: Asutosh Mohanty

 CONTENTS

1. Introduction to insurance

2. Objectives

3. Fundamental principles of insurance

4. Reasons for taking a life insurance policy

5. Vision, Mission, Values

6. Company Profile

7. Sales Procedure

8. Companys Products
8.1 Vision Star Child Plan (1 Age)
8.2 Vision Money back plus
8.3 Vision Life (40 Age)
8.4 Retirement Solution Plan

9. Funds by BSLI

10. Conclusion

11. Recommendation

12. Bibliography

13. Annexure
INTRODUCTION
Insurance, in law and economics, is a form of risk management primarily
used to hedge against the risk of a contingent loss. Insurance is defined as the
equitable transfer of the risk of a loss, from one entity to another, in exchange
for a premium. An insurer is a company selling the insurance. The insurance
rate is a factor used to determine the amount, called the premium, to be
charged for a certain amount of insurance coverage. Risk management, the
practice of appraising and controlling risk, has evolved as a discrete field of
study and practice.
The evolution of human beings from the primordial wild stage to the cave
dwelling stage is nothing but their saga of search for security. Their quest for
security is eternal. Life insurance is a device invented by them to seek security
against the most important hazards against which they found themselves quite
helpless. It will not be an exaggeration to say that progress of civilization is due
to human beings unending pursuit for security.
Life insurance in its modern form is a western concept. Although it started
taking shape since last 300 years, it came to India with the arrival of the
Europeans .the first life insurance company was established in India in 1818 as
oriental life insurance company mainly by Europeans to provide for widows of
Europeans. The companies that followed mainly catered to Europeans and
charge extra premium on Indians lives. The first Indian company, insuring
Indian lives at standard rates, was Bombay mutual life insurance company,
which was formed in 1870.this was the year also when the first Insurance Act
was passed by the British parliament. The years subsequent to the Swedishi
Movement saw the emerging of several insurance companies.
The end of the year 1955, there were 245 insurance companies and provident
societies out of which 16 were non-Indian companies. These companies were
nationalized in 1956 and brought under one umbrella the life insurance
corporation of India, which enjoyed monopoly of life insurance business, till
almost up to the end of year 2000.By enacting the IRDA Act 2000,the
government of India effectively ended LICs monopoly and opened the doors
for private insurance companies

Objectives:-

1. To study the different types of plans of birla sun life

insurance.

2. To know about the most preferable plans for consumer.

3. To compare the return of various plans.

 FUNDAMENTAL PRINCIPLES OF INSURANCE
Some useful terms in Insurance:

A) INDEMNITY
A contract of insurance contained in a fire, marine, burglary or any other policy
excepting life assurance and personal accident and sickness insurance) is a
contract of indemnity. This means that the insured, in case of loss against which
the policy has been issued, shall be paid the actual amount of loss not exceeding
the amount of the policy, i.e. he shall be fully indemnified. The object of every
contract of insurance is to place the insured in the same financial position, as
nearly as possible, after the loss, as if his loss had not taken place at all. It
would be against public policy to allow an insured to make a profit out of his
loss or damage.

B) UTMOST GOOD FAITH

Since insurance shifts risk from one party to another, it is essential that there
must be utmost good faith and mutual confidence between the insured and the
insurer. In a contract of insurance the insured knows more about the subject
matter of the contract than the insurer. Consequently, he is duty bound to
disclose accurately all material facts and nothing should be withheld or
concealed. Any fact is material, which goes to the root of the contract of
insurance and has a bearing on the risk involved. It is only when the insurer
knows the whole truth that he is in a position to judge
(a) Whether he should accept the risk and
(b) What premium he should charge.

If that were so, the insured might be tempted to bring about the event insured
against in order to get money.

C) Insurable Interest - A contract of insurance affected without insurable

interest is void. It means that the insured must have an actual pecuniary interest
and not a mere
Anxiety nor sentimental interest in the subject matter of the insurance. The
insured must be so situated with regard to the thing insured that he would have
benefit by its existence and loss from its destruction. The owner of a ship run a
risk of losing his ship, the charterer of the ship runs a risk of losing his freight
and the owner of the cargo incurs the risk of losing his goods and profit. So, all
these persons have something at stake and all of them have insurable interest. It
is the existence of insurable interest in a contract of insurance, which
distinguishes it from a mere watering agreement.

D) Causa Proxima - The rule of causa proxima means that the cause of the loss
must be proximate or immediate and not remote. If the proximate cause of the
loss is a peril insured against, the insured can recover. When a loss has been
brought about by two or
More causes, the question arises as to which is the causa proxima, although the
result could not have happened without the remote cause. But if the loss is
brought about by any cause attributable to the misconduct of the insured, the
insurer is not liable.

E) Risk - In a contract of insurance the insurer undertakes to protect the insured

from a specified loss and the insurer receive a premium for running the risk of
such loss. Thus, risk must attach to a policy.

F) Mitigation of Loss - In the event of some mishap to the insured property, the
insured must take all necessary steps to mitigate or minimize the loss, just as
any prudent person would do in those circumstances. If he does not do so, the
insurer can avoid the payment of loss attributable to his negligence. But it must
be remembered that though the insured is bound to do his best for his insurer, he
is, not bound to do so at the risk of his life.

G) Subrogation - The doctrine of subrogation is a corollary to the principle of

indemnity and applies only to fire and marine insurance. According to it, when
an insured has received full indemnity in respect of his loss, all rights and
remedies which he has against
Third person will pass on to the insurer and will be exercised for his benefit
until he (the insurer) recoups the amount he has paid under the policy. It must be
clarified here that the
Insurers right of subrogation arises only when he has paid for the loss for
which he is liable under the policy and this right extends only to the rights and
remedies available to the insured in respect of the thing to which the contract of
insurance relates.

H) Contribution - Where there are two or more insurance on one risk, the
principle of contribution comes into play. The aim of contribution is to
distribute the actual amount of loss among the different insurers who are liable
for the same risk under different policies in respect of the same subject matter.
Any one insurer may pay to the insured the full amount of the loss covered by
the policy and then become entitled to contribution from his co-insurers in
proportion to the amount which each has undertaken to pay in case of loss of the
same subject-matter.

In other words, the right of contribution arises when

1) There are different policies, which relate to the same subject matter
2) The policies cover the same peril which caused the loss, and
3) All the policies are in force at the time of the loss, and
4) One of the insurers has paid to the insured more than his share of the loss.
Life Insurance Policy is a form of security for the person who insures his life
and his family. Life insurance policies have helped trade and other economic
activities to flourish in a great manner. It has generated lots of job opportunities.
It is looked upon as a lucrative career option. Life insurance companies have
also entered the international business scenario.

The following reasons substantiate why a life insurance policy

should be taken:

A) Early Deaths
The mortality rate is experiencing a declining trend in many parts of the world.
However it is also important to note that the age at which People die is also ever
decreasing. Some reasons for this include unhealthy living style, stress,
pollution, and some natural calamities. This necessitates people to make
adequate measures to yield income for their family and dependents. This could
be a serious concern if the insured happens to be the sole breadwinner. Some
individuals see this as an option to plan their retirement.

B) Advancements in Health Care

The mortality rate has declined rapidly even though the fact remains that the
number of people who die at an early age is on the increase. This is mainly due
to the advancement in healthcare and the awareness on medical facilities. This
results in an increased spending at an old age. This increased spending is also
due to increase in the costs of living apart from paying expensive medical bills.
Unless they invest in Life insurance or other forms of insurance like health
insurance it becomes next only too impossible to meet the financial demands
especially during the old days.

C) Increase in the Cost of Living and Spending Power

The purchasing power of the consumers and the standard of living has
experienced a steep rise over the years. The increase in National Income and
gross domestic product are partly responsible for this. Individuals incur many
unexpected expenses due to the growing needs. Insurance comes in handy to
meet such an unexpected expense. It also
Makes sure that an individual is able to meticulously plan his finances.
Insurance option is more or less an interest free loan. An individual can cancel
his insurance policy and obtain a huge amount if it is imperative in meeting an
urgent expenses and he does not have alternative sources for finance. Life
insurance companies therefore do the needful to consumers.

D) Tax Concessions
Income tax concessions are available to individuals and corporate houses that
adopt insurance policies. Many have been making investments in Insurance
with the sole aim of enjoying tax benefits. This naturally increases spending
power. Since the investments increases the economic activities in the country
automatically increases.
 VISION

To be a world class provider of financial

security to individuals and corporates and to be
amongst the top three private sectors life
insurance companies in India.

MISSION

To be the first preference of our customers by

providing innovative, need based life insurance
and retirement solutions to individuals as well
as corporates. These solutions will be made
available by well-trained professionals through
a multi channel distribution network and
Superior technology.

Our endeavor will be to provide constant value

addition to customers throughout their
relationship with us, within the regulatory
framework.
We will provide career development
opportunities to our employees and
 The highest possible returns to our
shareholders.

VALUES

Integrity: Honesty in every action.

Commitment: Deliver on the
promise
Passion: Energized action
Seamlessness: Boundary less in
letter & spirit
Speed: One step ahead always

COMPANY PROFILE

Birla Sun Life A Coming Together Of Values

Company Profile:

Birla Sun Life Insurance Limited:

Birla Sun life Insurance Limited established in the year 2000 and founded by
Adtya Bikram Birla headquartered in Elphinstone road, Mumbai, India. It is the
joint venture between Aditya Birla Group, one of the leading conglomerates
company in India and Sun Life Financial Incorporation, a leading international
financial service organization from Canada. The local knowledge of Aditya
Birla Group combined with the domain expertise of Sun Life Insurance
Incorporation. It record a gross premium income of INR 5724 Crore as on
financial year 2016-17 and posted a net profit of INR 123 Crore. Its Assets
Under Management at INR 34,523 Crore on Financial year 2017. BLSI has
nation-wide distribution presence through 409 branches, 6 bancassurance
partners, over 73000 direct selling agents and more than 150 corporate agents
and brokers.

Aditya Birla Financial Service Group:

Aditya Birla Financial Service Group is the umbrella brand of all financial
service business of Aditya Birla Group. ABFSG offer financial services in the
field of asset management, wealth management, housing finance, equity and
commodity broking, portfolio management services, insurance and insurance
advisory services. ABFSG ranks among the top five fund managers in India
with an AUM of INR 246,759 Crore as on March 31 st, 2017. Its aggregate
revenue from business operation is INR 10,341 Crore and profit before tax is
INR 1374 Crore.

Sun Life Financial Incorporation:

Sun Life Financial Inc is a Canada based financial service company, primarily
known as Life Insurance Company. It is one of the largest and oldest life
insurance company in the world. Sun Life Financial founded by Mathew
Hamilton in the year 1865 headquartered at Sun Life Centre Toronto, Ontario,
Canada. It provides products like financial services, financial planning and
advice, life insurance, health insurance, dental insurance, investment, pension
plan, retirement plan and asset management service. The company operates in
India as Birla Sun Life Asset Management Company since 1994.

Vision:
To be a leader and role model in a broad based and integrated financial services
business.
Value:
Integrity
Commitment
Passion
Seamlessness
Speed

Area of Operation:
Insurance and Insurance advisory
Equity and Commodity broking
 Mutual Fund
Wealth and Asset Management
Portfolio Management Services
Capital Advisory Services

Future Growth:
BSLI is the first Indian Insurance Company to introduce "Free Look Period", by
which consumer can return the policy to an insurance company within this
period after receiving the policy. Free Look Period was later made mandatory
by Insurance Regulatory and Development Authority of India for all other life
insurance companies In 2013. Additionally, BSLI pioneered the launch of Unit
Linked Plan. BSLI has a policy of disclosing their portfolio on a monthly basis.
On 5 February 2015, Birla Sun Life Insurance signed an IT outsourcing deal
with International Business Machines Corporation (IBM) with a view to
leveraging mobility and cloud solutions developed by IBM Research and the
IBM India Software Lab.
Awards and Recognition:
Best Employer Brand Award by Asian Confederation of Businesses
in 2012.
Successful Performance' for 4 years April 2005 by The Indo-
Canadian Business Chamber in 2005.
Best Life Insurer (Runner Up) 2004 TROPHY by Outlook Money
Awards 2004.
Gold Trophy' for Financial Reporting by The Institute of Chartered
Accountants of India (ICAI) in 2012
Media Abby Awards at Goa Fest Advertising Agencies Association
of India & Advertising Club Bombay (2011)
Grand Midas at the Midas Awards 2013 in Public Service Category
for work titles as 'Death Track'
Gold Midas Awards 2013 in Direct Mail/Collateral competition for
work titled as 'Karva Chauth'
Key People at Birla Sun Life
Insurance:
Mr. Kumar Mangalam Birla, Chairman
Mr. Pankaj Razdan, MD and Chief Executive Officer
Mr. Amit Jain, Chief Financial Officer
Mr. Devan Sangoi, Chief Investment Officer- Equity
Mr. Devendra Singhvi, Chief Investment Officer- Debt
Mr. Rajesh Nambiar, Chief Marketing Officer
Mr. Shailendra Kothavale, Chief Compliance & Risk Officer
Mr. Anil Singh, Chief Actuarial Officer
Mr. Vikas Seth, Chief Distribution Officer
Mr. Parag Raja, Deputy Chief Distribution Officer
Ms. Shobha Ratna, Head- Human Resource & Trainning
Mr. Rajesh Varrier, Chief Technology and Digital Officer

Products:
Vision Life Income Plan:

It is a traditional participating whole life plan that help a person to not only plan
his/her financial goals but also realise his/her dreams by providing him/her with
a steady income and whole life cover. With survival benefits payable every year
from the end of the premium paying term till maturity and a life insurance
benefit, this plan offers a perfect blend of income and financial protection for
you and your family.
 Vision Money Back Plus Plan:

To fulfil the dreams and aspirations of your family with the Vision Money Back
Plus Plan by Birla Sun Life Insurance. It is a traditional participating plan,
which provides you with regular liquidity to meet your financial requirements
along with adequate life cover against any unfortunate event.

Vision Star Plan:

The future expenses of child include funding your child's foreign education,
helping with capital to set up a small home-based business or even paying for a
lavish wedding. The best way to raise essential funds for these expenses is to
invest in child insurance plans. To this end, Birla Sun Life Insurance Future
Solutions extends a helping hand to parents who wish to convert their children's
every dream to reality. This is a child plan that provides with a high life cover,
the opportunity to earn guaranteed returns on the investment and the freedom to
manage fund to maximise your earnings as per need.

BLSI Retirement Solution Plan:

After retirement income of a person stops but the expenses continues unabated.
To overcome from financial pressure BLSI was introduced retirement solution
plan for next innings of a persons life for daily living.

LBSLI Wealth Solution Plan:

This plan will come through unit lined insurance plans under the aegis of the
Birla Sun Life Insurance Wealth with Protection Solutions, which provide a
sizeable life insurance cover and help you save money regularly for the future.
This plan is suited to your specific goals and aligns itself to help you realise
your cherished dreams. With ULIP policies, you can achieve supplemental
income even as you get a vigorous life cover.
Competitors Profile:
These are the top Competitors of Birla Sun Life Insurance:

Life Insurance Corporation of India:

Life Insurance Corporation of India (LIC) is an Indian state-owned

insurance group and investment company headquartered in Mumbai. As of
2013 it had total life fund of Rs.1433103.14 crore with total value of
policies sold of 367.82 lakh that year. The Life Insurance Corporation of
India was founded in 1956 when the Parliament of India passed the Life
Insurance of India Act that nationalised the private insurance industry in
India. Over 245 insurance companies and provident societies were merged
to create the state owned Life Insurance Corporation.
 SBI Life Insurance:

SBI Life Insurance is a joint venture life insurance company between State
Bank of India, the largest state-owned banking and financial services
company in India, and BNP Paribas Cardiff. BNP Paribas is a French
multinational bank and financial services company with global headquarters
in Paris. SBI owns 70.1% of the total capital and BNP Paribas Cardiff 26%
of the capital. Other investors are Value Line Pte. Ltd. and MacRitchie
Investments Pte. Ltd., holding 1.95% of the total capital each.

HDFC Standard Life:

HDFC Life (HDFC Standard Life Insurance Company) is a long-term life

insurance provider with its headquarters in Mumbai, offering individual
and insurance. It is a joint venture between Housing Development Finance
Corporation Ltd (HDFC), one of India's leading housing finance institution
and Standard Life plc, leading well known provider of financial savings &
investments services in the United Kingdom. On August 14, 2015 HDFC Ltd.
entered into a share sale agreement with Standard Life to sell a 9.00% stake
in HDFC Life to the latter. The transaction is subject to receipt of regulatory
approvals. Post the completion of the above transaction, HDFC will hold
61.65% stake in HDFC Life and Standard Lifes stake will increase to 35.00%,
with rest to be held by others.

ICICI Prudential Life Insurance:

ICICI Prudential Life Insurance Company is a joint venture between ICICI

Bank and Prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the
first private sector insurance companies to begin operations in December
2000 after receiving approval from Insurance Regulatory and Development
Authority of India (IRDAI). As of 2010, the managing director and CEO was
Sandeep Bakhshi. ICICI Prudential Life's capital infused stands at Rs. 48.16
billion (as of March 31, 2015) with ICICI Bank Ltd. and Prudential plc
holding 68% and 32% stake respectively. For the financial year 2015, the
company garnered a total premium of Rs. 153.07 billion. The company has
assets under management of Rs. 1001.83 billion as on March 31, 2015.
 SWOT Analysis of Birla Sun Life
Insurance:

1. Has Network of 600 branches and advisors spread

over 1500 towns in India having over 130,000
STRENGTHS advisors.
2. Backed by Aditya Birla Brand and Sun Life financial
services.
3. Emphasis on Customer Satisfaction through
Transparent Functioning.
4. Strong Capital Base.
1. Low Presence in Rural Market.
WEAKNESSES 2. Lesser advertising as compared to competitors.

1. Growing potential in the Rural Market.

OPPORTUNITIES 2. Alignment with Government Schemes.
3. Better awareness amongst people for getting
insurance.
1. Economic crisis and economic instability.
THREATS 2. Entry of new NBFCs in the sector.
Customer Profile:
As Birla Sun Life Insurance is an insurance firm and provides service to its
clients such as the investors who are interested to invest in insurance products.
Who should be the Customer?
A salaried Person
Age group of 25-60

Sales Procedure of Insurance in BSLI:

BSLI ensures that its policyholders get the best out of the policy offered to them
by their Advisors. For this, BSLI follows a set procedure of selling Insurance to
the clients. The sales procedure can be diagrammatically presented as follows:
 SUSPECTING

PROSPECTING

APPOINTMENT

FIRST SALES CALL

FOLLOW UPS

SALES CLOSED

OFFICE WORK

This procedure can be stepped down as follows:

1. Pitching the customer: The first and foremost thing is that, client should be
ready to purchase the Insurance plan. Insurance is not a very preferable product
yet in India. And,
Thus, co. has to be very vigilant. Advisors, at BSLI, maintain relationships and
make the most of their Goodwill. Insurance is a Relationship oriented business.
Keeping this in mind BSLI also initiated Bancassurance, where Banks image of
being loyal to the customers, plays a major role in pitching the customer to buy
Insurance. BSLI uses following routes for distributing their Product to general
public:
a. Direct Personal Contacts (through Advisors)
b. Bancassurance (through Banks)
c. Personal Relations (through co. employees)
d. Existing Policyholders.

2. Sales Illustration: BSLI is the first company to give demonstration of the

fund performance i.e. how a certain policy will perform or will give returns.
BSLI Advisors give sales illustration. Fund performance is shown on 6% and
10% projections. If client find these projected returns suitable to his/her risk
profile, he go for purchasing the policy.

3. Proposal Form: Now as client is ready to get insured, advisor gives him
the proposal form and asks for all the documents required. Proposal
form is a 4 page document that contains all the necessary information
related to the Insured and the Owner of the policy. Documents required
along with the proposal form are:
Date-Of-Birth Proof
Address & ID Proof
Income Certificate
Medical Certificates (only if Insurer is a senior citizen)
 1. After Sales Service: Now after the Insurance is sold, follow-ups are
required. Advisor needs to maintain good relations with the
policyholder. Insurance co. can
Generate further business, only if, existing policyholders are satisfied with
the services being provided by the advisor of the co. Thus, BSLI keeps this
in mind and Business Development Executives continuously track the needs
of the policyholders. BSLI provides the policyholders with monthly updates
of the fund performance and
Also discloses the asset portfolio of the fund. This assists the policyholders to
manage their policy according to their risk profile. They can, thus, change their
fund allocation as well as the asset allocation in any fund, chosen by them.

COMPANY PRODUCTS / PLANS

All the plans associated with BSLI are Unit Linked Plans.

VISION STAR PLAN AT A GLANCE

BSLI Vision Star Plan is suitable for you, if your key objective is to get regular assured payouts
for financing your childs education and securing childs future even in your absence with
comprehensive financial protection.

The BSLI Vision Star Plan offers:

Assurance - In case of your untimely death all the dreams for your child will
still be fulfilled. No burden on your family to pay the premiums to receive the
benefits as planned by you
Safety to your loved ones - Comprehensive financial protection of your family
depending on your choice of Sum Assured.
Growth to your savings - Enhance your savings by accrued bonuses starting from
the first policy year which continue to accrue till maturity.

ELIGIBILITY CRITERION

Entry Age (age last birthday) 18 55 years

Maximum Maturity Age
Minimum Policy Term
Premium Paying Term
Minimum Sum Assured
Premium Frequency
75 years
For Option A-16 years (maximum of 23 years)
For Option B-14 years (maximum of 21 years)
5 -12 years
`1,00,000
Annual, Semi-annual, Quarterly & Monthly

At inception, you need to choose the Sum Assured which represents the life cover during the
policy term.
Your premium will depend on the amount of the Sum Assured you select, premium paying
term, policy term and plan option chosen by you. For easy reference, your Sum Assured is
banded as follows:

Sum Assured Band Band 1 Band 2 Band 3 Band 4

Sum Assured (`.) 1,00,000 to 1,99,999 2,00,000 to 3,99,999 4,00,000 to 7,99,999 8,00,000 +

Regular bonuses - BSLI will declare simple reversionary bonuses regularly at the end of each
financial year and that will be added to your policy on its policy anniversary. Bonuses once attached
to the policy are payable along with the interim bonuses, as applicable on maturity or surrender.
In case of surrender, the surrender value of the attached bonuses will be payable. The regular bonus
rate declared by BSLI may vary from year to year and will depend on the actual experience regarding
various factors and the prevailing economic conditions. Future bonuses are however not guaranteed
and will depend upon the future profits of the participating business.

Terminal bonus - BSLI may also pay a terminal bonus on maturity or surrender, if earlier, based on
The actual experience and the prevailing economic conditions.
 YOUR PLAN

Give your loved ones the power to dream by completing 3 simple steps :

STEP 1

Choose your Sum Assured

BSLI Vision Star Plan offers you the freedom to choose your sum assured depending on your
future needs.

STEP 2

Choose your Assured Payout Option

BSLI Vision Star Plan offers you the flexibility to choose between two Assured Payout Options
to suit your requirements.
Option A 4 biannual payouts of 20% | 20% | 30% | 30%
Starting 5 years after the premium paying term is over; there will be an Assured Payout
every two years.
Option B 5 annual payouts of 15% | 15% | 20% | 20% | 30%
Starting 5 years after the premium paying term is over, there will be an Assured Payout
every year.

STEP 3

Choose your Premium Paying Term

BSLI Vision Star Plan offers you the flexibility to choose your premium paying term from
5-12 years.
Complete the application form and pay your premiums based on your above choices.

YOUR BENEFITS

Death Benefit

In the unfortunate event of the death of the life insured during the policy term,
we will pay the nominee

Sum Assured on Death; plus

No premiums are required to be paid in future; plus

Assured Payouts on the scheduled dates as explained in the Assured Payout section; plus
 Bonuses accrued till policy maturity date and terminal bonus, if any, will be payable
on the policy maturity date.
Sum Assured on Death is the maximum of Sum Assured chosen at inception irrespective of any
guaranteed payouts paid or 10 times the annual premium payable.

The death benefit will be subject to minimum of 105% of total premiums paid to date excluding
service tax, any applicable rider premiums and underwriting extras, if any.

You may also consider taking this plan under MWP Act provision to protect your childs future
as planned by you.

Assured Payout
th

Starting from 5 year after the premium paying term is over, you shall start receiving Assured
Payouts which are pre defined percentage of the Sum Assured chosen by you. Depending on
your perceived need for a biannual or annual payout, you can choose one of the following
options at inception to receive the Assured Payouts after five years after the premium paying

Option A
X+5 X+7 X+9 X + 11

%age of Sum Assured 20 20 30 30

Option B
X+5 X+6 X+7 X+8 X+9

%age of Sum Assured 15 15 20 20 30

Where X denotes the premium paying term

These benefits will continue as scheduled irrespective whether life insured is alive or not,
provided all due premiums are paid till date of unfortunate death of life insured.

You can choose to defer the due Assured Payout until the time the next Assured Payout is due
to be paid. The payout will happen only when the Assured Payout is due to be paid. On deferral
the percentage of Assured Payout will be enhanced as given below:
 Option A Assured Payout Year till the Assured Payout is deferred/
(% of SA) Enhanced Assured Payout

Year when Assured X+5 X+7 X+9 X + 11

Payout is due
X+5 20% 20% 22% 25% 28%
X+7 20% NA 20% 22% 25%
X+9 30% NA NA 30% 33%
X + 11 30% NA NA NA 30%

Option B Assured Payout Year till the Assured Payout is deferred

(% of SA) /Enhanced Assured Payout

Year when Assured X+ 5 X+ 6 X+7 X+8 X+9

Payout is due
X+5 15% 15% 16% 17% 18% 19%
X+6 15% NA 15% 16% 17% 18%
X+7 20% NA NA 20% 21% 22%
X+8 20% NA NA NA 20% 21%
X+9 30% NA NA NA NA 30%

Where X denotes the premium paying term

Upon death or surrender, the discounted value of enhanced assured payouts will be paid
along with the normal surrender/death benefit subject to minimum of the value as payable on
the original due date of the assured benefit payment.

Maturity Benefit

If the life insured survives, we shall pay to you the following on the maturity date
Accrued bonuses till date; plus
Terminal bonus (if any)
The policy shall be terminated once the maturity benefit is paid.

Reduced Paid-Up Benefits

If you discontinue paying premiums after having paid premiums for at least
three full years (two years for premium paying term less than 10 years), your
policy will not lapse but continue on a Reduced Paid-up basis. Under Reduced
Paid-up, your Sum Assured and Sum Assured on Death shall be reduced in
proportion to the premiums actually paid to the total premiums payable during the
policy term. Your accrued bonuses up to the date of first unpaid premium will not be reduced;
however any bonus payable for the policy year of premium discontinuance shall be reduced
proportionately to the unpaid premiums in that policy year. There will be no further accrual of
bonuses.

Once the policy has become Reduced Paid-up, the benefits payable in the
Your Benefits section are amended as follows:

Death Benefit

In the unfortunate event of the death of the life insured during the policy term, we shall pay
Reduced Sum Assured on Death to the nominee. Assured Payouts and Maturity Benefit will
continue and will be paid on their respective dates.

Assured Payout

Starting from 5th year after the premium paying term, you will receive assured payouts every 2nd
year or every year depending on the option selected by you and will be a pre-defined
percentage of the Reduced Sum Assured. These payouts are irrespective of whether any
death benefit has been paid earlier on the policy. There will be no option to defer the Assured
Payout

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you
Accrued regular bonuses

Surrendering your Policy

Your policy will acquire a surrender value after all due premiums for at least three full policy
years (two years for premium paying term less than 10 years) are paid. The Guaranteed
Surrender Value is a percentage of premiums paid (excluding any premiums paid towards
underwriting extra and service tax) plus the surrender value of accrued regular bonuses
less any assured payout already paid or deferred. The Guaranteed Surrender Value will
vary depending on the premium paying term and the year the policy is surrendered.

Your policy will also be eligible for a Special Surrender Value. The surrender value payable will
be the higher of Guaranteed Surrender Value or Special Surrender Value. The policy shall be
terminated once the Surrender Value is paid. Please ask your financial advisor for an
illustration of the Special Surrender Values applicable to your policy or refer to your policy
contract for further details. Kindly refer to the policy contract on the website for the surrender
value table.

Taking a Policy Loan

You may take a loan against your policy once it has acquired a surrender value. The minimum
loan amount is Rs.5,000 and the maximum is 85% of your surrender value. We shall charge
interest on the outstanding loan balance at a rate declared by us from time to time based on
then prevailing market conditions. Assured Payout will be reduced by the outstanding policy
loan instalments, if any. Any outstanding loan balance will be recovered by us from policy
proceeds due for payment and will be deducted before any benefit is paid under the policy.
Should the outstanding policy loan balance equal or exceed the surrender value of your policy
at any time, when your policy is in Reduced Paid up status, then the policy shall be terminated
without value. Note that prior to this happening, we shall give you an opportunity to repay all or
part of your outstanding loan balance in order for your policy to continue uninterrupted. If your
policy is in fully paid up status or premium paying (in force) and your outstanding policy loan
balance equals or exceeds the Surrender Benefit then on that date, your policy shall not be
foreclosed.

WEALTH MONEY BACK PLUS

BSLI Vision MoneyBack Plus Plan is a traditional participating plan, which provides for lump
sum payouts at regular intervals to meet your interim financial requirements and thereby
providing the best to your family.

PLAN AT A GLANCE

BSLI Vision MoneyBack Plus Plan is suitable for you, if your key objective is secured savings,
with regular liquidity to meet your financial objectives, while providing your family with
comprehensive financial protection.

The BSLI Vision MoneyBack Plus Plan offers:

Guaranteed Liquidity Regular payouts as a pre specified percentage of sum assured at

the end of every fourth or fifth policy year throughout the policy term.
Safety to your loved ones Comprehensive financial protection of your family depending
on your choice of Sum Assured.

Entry Age (age on last birthday) 13 45 years

Policy Term
Premium Paying Term
Minimum Sum Assured
Premium Frequency
20, 24, 25 years
10 years for a 20 year policy term
12 years for 24 and 25 year policy terms
`1,00,000
Annual, Semi-annual, Quarterly and Monthly

Eligibility Criterion
At inception, you need to choose the Sum Assured which represents the life cover during the
policy term.

Your premium will depend on the amount of the Sum Assured you select, premium paying term,
policy term and intervals for regular payouts. For easy reference, your Sum Assured is banded
as follows:

Sum Assured Band Band 1 Band 2 Band 3 Band 4

Sum Assured (`) 100,000 to 199,999 200,000 to 399,999 400,000 to 799,999 800,000 +

Regular bonuses BSLI will declare simple reversionary bonuses regularly at the end of each
financial year and these will be added to your policy on its policy anniversary. Bonuses once
attached to the policy are payable along with the interim bonuses, as applicable on maturity or
surrender or death, if earlier. In case of surrender, the Surrender Value of the attached bonuses
will be payable. The regular bonus rate declared by BSLI may vary from year-to-year and will
depend on the actual experience regarding various factors and the prevailing economic
conditions. Future bonuses are however not guaranteed and will depend upon the future profits
of the participating business.

Terminal bonus BSLI may also pay a terminal bonus on maturity, surrender or death,
if earlier, based on the actual experience and the prevailing economic conditions.

YOUR BENEFITS

Guaranteed Survival Benefit

On every 4th or 5th policy anniversary, as selected by you, you shall receive a survival benefit
as a percentage of Sum Assured. These benefits will continue throughout the policy term as
long as the life insured survives. The regular payouts are a pre defined percentage of sum
assured in the following options:
 Premium Paying Term /
Policy Term
Survival Benefit 10/20 12/24 Survival Be
Year Year
4 th
10% 10%
5th
8 th
15% 15% 10th
th
12 20% 20% 15th
th
16 25% 25% 20th
th
20 30% 30% 25th
24th - 35%

You can choose to defer the due Guaranteed Survival Benefit until the next Guaranteed Survival
Benefit is due to be paid. The payout will happen only when the Guaranteed Survival Benefit is
due to be paid. On deferral the Guaranteed Survival Benefit will be enhanced as given below.

Option 10 PPT / 20 term

Year when Guaranteed Year till the Guaranteed Survival Benefit is deferred/Enhanced
Guaranteed Survival Guaranteed Survival Benefit
Survival Benefit
Benefit is due (% of SA) 4th 8th 12th 16th 20th
4th 10% 10% 12% 15% 19% 23%
8 th 15% NA 15% 18% 23% 28%
12th 20% NA NA 20% 24% 30%
16th 25% NA NA NA 25% 30%
th
20 30% NA NA NA NA 30%
Option 12 PPT / 24 term
Year when Guaranteed Year till the Guaranteed Survival Benefit is deferred/Enhanced
Guaranteed Survival Guaranteed Survival Benefit
Survival Benefit
Benefit is due (% of SA) 4th 8th 12th 16th 20th 24th
4 th
10% 10% 12% 15% 19% 23% 29%
8 th
15% NA 15% 18% 23% 28% 35%
th
12 20% NA NA 20% 24% 30% 37%
16th 25% NA NA NA 25% 30% 37%
20th 30% NA NA NA NA 30% 37%
th
24 35% NA NA NA NA NA 35%

Option 10 PPT / 20 term

Year when Guaranteed Year till the Guaranteed Survival Benefit is deferred/Enhanced
Guaranteed Survival Guaranteed Survival Benefit
Survival Benefit
Benefit is due (% of SA) 5th 10th 15th 20th
5 th
15% 15% 20% 25% 33%
10th 20% NA 20% 25% 33%
th
15 25% NA NA 25% 33%
th
20 40% NA NA NA 40%

Option 12 PPT / 25 term

Year when Guaranteed Year till the Guaranteed Survival Benefit is deferred/Enhanced
Guaranteed Survival Guaranteed Survival Benefit
Survival Benefit
Benefit is due (% of SA) 5th 10th 15th 20th 25th
5 th
15% 15% 20% 25% 33% 43%
th
10 20% NA 20% 25% 33% 43%

15th 25% NA NA 25% 33% 43%

th
20 30% NA NA NA 30% 39%
25th 45% NA NA NA NA 45%

Upon death or surrender, the discounted value of enhanced guaranteed survival benefit will be
paid along with the normal surrender / death benefit subject to a minimum of the value as
payable on the original due date of the guaranteed survival benefit payment.
Death Benefit

In the unfortunate event of the death of the life insured during the policy term, the death benefit
payable to the nominee shall be:
Sum Assured on Death; plus

Accrued regular bonuses as of date of death; plus

Terminal bonus (if any)

Sum Assured on Death is the maximum of the Sum Assured chosen at inception irrespective of
any survival benefits paid or 10 times the annual premium payable.
The Death Benefit will be subject to a minimum of 105% of total premiums paid to date
excluding Service Tax and Cess, any applicable rider premiums and underwriting extras, if any.
In case of death of the life insured, if the life insured is different from the policyholder, the
policyholder will receive the death benefit. The policy shall be terminated once the death
benefit is paid.

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you:
Accrued bonuses till date; plus

Terminal bonus (if any)

The policy shall be terminated once the maturity benefit is paid.

Rider Information
For added protection, you can enhance your insurance coverage during the policy term by
adding following riders for a nominal extra cost.

BSLI Accidental Death and Disability Rider (UIN: 109B018V03)

BSLI Critical Illness Rider (UIN: 109B019V03)

BSLI Surgical Care Rider (UIN: 109B015V03)

BSLI Hospital Care Rider (UIN: 109B016V03)

BSLI Waiver of Premium Rider (UIN: 109B017V02)

BSLI Accidental Death Benefit Rider Plus (UIN: 109B023V01)

Please refer to detailed brochures on riders, consult your financial advisor or visit our website
for further details.

Reduced Paid-up Benefits

If you discontinue paying premiums after having paid premiums for at least three full years, your
policy will not lapse but will continue on a Reduced Paid-up basis. Under Reduced Paid-up,
your Sum Assured and Sum Assured on Death shall be reduced in proportion to the premiums
actually paid to the total premiums payable during the policy term. Your accrued bonuses up to
the date of first unpaid premium will not be reduced; however any bonus payable for the policy
year of premium discontinuance shall be reduced proportionately to the unpaid premiums in
that policy year. There will be no further accrual of bonuses.
Once the policy has become Reduced Paid-up, the benefits payable in the Your Benefits
section are amended as follows:

Death Benefit

In the unfortunate event of the death of the life insured during the policy term, we shall pay to
the nominee:
Reduced Sum Assured on Death; plus

Accrued regular bonuses

Guaranteed Survival Benefit

Every 4th or 5th policy anniversary, as selected by you, you shall receive the Guaranteed
Survival Benefits as a pre-defined percentage of the Reduced Sum Assured. There will be no
option to defer the Guaranteed Survival Benefit under Reduced Paid-up policy.

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you
Accrued regular bonuses

Paying Premiums

Please ask your financial advisor or visit our website to determine the premium rate applicable
for your policy. You may choose to pay your premium annually, semi-annually, quarterly or
monthly as per your convenience. For annual and semi-annual payments, we give a premium
rebate of 5.0% and 2.0% respectively.

Sum Assured Rebate

For higher Sum Assured, we also offer a premium rebate as follows:

Sum Assured Band* Band 1 Band 2 Band 3 Band 4

Premium Rebate per 1,000 of SA nil 1.00 5.00 7.00

Surrendering your Policy

Your policy will acquire a Surrender Value after all due premiums for at least three full policy
years, are paid. The Guaranteed Surrender Value is a percentage of premiums paid (excluding
any premiums paid towards rider benefit, underwriting extra and service tax) plus the Surrender
Value of accrued regular bonuses less any survival benefit already paid or deferred.
The Guaranteed Surrender Value will vary depending on the premium-paying term and the year
the policy is surrendered.
Your policy will also be eligible for a Special Surrender Value. The Surrender Value payable will
be the higher of the Guaranteed Surrender Value or Special Surrender Value. The discounted
value of the enhanced survival benefit will be paid additionally. The policy shall be terminated
once the Surrender Value is paid. Please ask your financial advisor for an illustration of the
Special Surrender Values applicable to your policy or refer to your policy contract for further
details. Kindly refer to the policy contract on the website for the Surrender Value table.

Taking a Policy Loan

You may take a loan against your policy once it has acquired a Surrender Value. The minimum
loan amount is `5,000 and the maximum is 85% of your Surrender Value. We shall charge
interest on the outstanding loan balance at a rate declared by us from time-to-time based on then
prevailing market conditions. Survival Benefit payable will be reduced by the outstanding policy
loan instalments, if any. Any outstanding loan balance will be recovered by us from policy
proceeds due for payment and will be deducted before any benefit is paid under the policy.
Should the outstanding policy loan balance equal or exceed the Surrender Value of your policy at
any time, when your policy is in reduced paid-up status, then the policy shall be terminated
without value. Note that prior to this happening, we shall give you an opportunity to repay all or
part of your outstanding loan balance in order for your policy to continue uninterrupted. If your
policy is in fully paid up status or premium paying (in force) and your outstanding policy
loan balance equals or exceeds the Surrender Benefit then on that date, your policy
shall not be foreclosed.
 VISION LIFE INCOME
BSLI Vision LifeIncome Plan is suitable for you, if your key objective is secured savings, earning
a steady income till age 100 and providing your family with comprehensive financial protection.

The BSLI Vision LifeIncome Plan offers:

Income for life 5% of the Sum Assured guaranteed plus bonus every year after the
Premium Paying Term
Safety for your loved ones Comprehensive financial protection for your family with whole
life cover till age 100.

Eligibility Criterion
Entry Age (age last birthday) 30 days* 60 years
Policy Term Whole Life to Age 100
Premium Paying Term 8 | 10 | 12 | 15 to 40 years
Minimum Attained Age at end of Premium Paying Term is 18 or more
Maximum Attained Age at end of Premium Paying Term is 75 or less
Minimum Sum Assured ` 200,000
Minimum Premium For PPT 8 | 10 | 12 years - Rs. 1,00,000 p.a.
For PPT 15 to 40 years - Rs. 3,880 p.a.
Premium Frequency Annual, Semi-annual, Quarterly, Monthly

* risk commences from the first policy anniversary

At inception, you need to choose the Sum Assured which represents the life cover during the
entire policy term.

Your premium will depend on the amount of the Sum Assured you select. For easy reference,
your Sum Assured is banded as follows:

Sum Assured Band Band 1 Band 2 Band 3

Sum Assured (`) 200,000 to 399,999 400,000 to 799,999 800,000+

Bonuses BSLI will declare simple reversionary bonuses regularly at the end of each financial
year and those will be accrued in the policy on its policy anniversary, surrender or on death.
Bonuses once attached to the policy are payable along with the interim bonuses, as applicable
on death, surrender or survival. In case of surrender, the surrender value of the attached
bonuses will be payable. The regular bonus rate declared by BSLI may vary from year to year
and will depend on the actual experience regarding various factors and the prevailing economic
conditions. Future bonuses are however not guaranteed and will depend upon the future profits
of the participating business.

Terminal bonus BSLI may also pay a terminal bonus at the company's discretion on death,
or maturity, based on the actual experience and the prevailing economic conditions.
 YOUR BENEFITS

Survival Benefit

In the event the life insured survives to the end of the premium paying term, we shall pay to you:
Accrued bonuses till date
In the event the life insured survives to the end of each subsequent policy year, we shall pay to you :

Income Benefit of 5.0% of Sum Assured; plus

Bonus from the current policy year

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you:
Higher of, Sum Assured or 105% of total premiums paid to date(1); plus
Terminal bonus (if any)

Death Benefit

In the unfortunate event of the death of the life insured during the premium paying term,
we shall pay to the nominee:
Highest of, Sum Assured or 10 times of the annualised premium or 105% of total
premiums paid to date(1); plus
Accrued bonuses as of date of death(2); plus
Terminal bonus (if any)

In the event the life insured dies after the premium paying term, we shall pay to the nominee:
Highest of, Sum Assured or 10 times of the annualised premium or 105% of total
premiums paid to date1); plus
Bonus from the current policy year(3); plus
Terminal bonus (if any)

In case where the death of the Life Insured takes place prior to the risk commencement date,
only the basic premiums paid to date (excluding service tax, if any ) shall be payable as the
Death Benefit.

In case of death of the life insured, if the life insured is different from the policyholder, the
policyholder will receive the death benefit.
The policy shall be terminated once the death or maturity benefit is paid and no other benefit
shall be payable thereafter
(1)
105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras)
(2)
Refer to bonus section
(3)
Any bonuses previously paid are excluded

Reduced Paid-up Benefits

If you discontinue paying premiums after having paid for at least three full years (two full policy
years for 8 pay term), your policy will not lapse but will continue on a Reduced Paid-Up basis.
Under Reduced Paid-Up, your sum assured or 10 times of the annualised premium as
applicable under Death Benefit whichever is higher, shall be reduced in proportion to the
premiums actually paid to the total premiums payable during the premium paying term subject
to minimum of 105% of total premium paid to date (excluding any applicable rider premium
and/or underwriting extras), shall be paid as Reduced Sum Assured . Your accrued bonuses to
the date of premium discontinuance will not be reduced; however any bonus payable in the
year of premium discontinuance shall be reduced proportionately to the unpaid premiums in
that policy year. In the successive years there will be no further accrual of bonuses.
Once the policy has becomes Reduced Paid-Up, the benefits payable in the Your Benefits
section are amended as follows:
Survival Benefit

After the premium paying term in the event the life insured survives to the end of each
subsequent policy year, we shall pay to you:
Income Benefit(4) of 5.0% of Reduced Sum Assured

If the Income Benefit is less than Rs 1,000 per year, you will receive a lump sum payment at the end of the premium paying term based at

the then prevailing conversion rate.

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you:
Reduced Sum Assured; plus
Terminal bonus (if any)

Death Benefit

In the unfortunate event of the death of the life insured during the premium paying term,
we shall pay to the nominee:
 Reduced Sum Assured; plus
Accrued bonuses as may be applicable (described above); plus
Terminal bonus (if any)

In the event the life insured dies after the premium paying term, we shall pay to the nominee
Reduced Sum Assured; plus
Terminal bonus (if any)

Additional Insurance Benefits

For added protection, BSLI Vision LifeIncome Plan can be enhanced by the following riders for
a nominal extra cost.

BSLI Accidental Death and Disability Rider (UIN: 109B018V03)

BSLI Critical Illness Rider (UIN: 109B019V03)
BSLI Surgical Care Rider (UIN: 109B015V03)
BSLI Hospital Care Rider (UIN: 109B016V03)
BSLI Waiver of Premium Rider (UIN: 109B017V02)
BSLI Accidental Death Benefit Rider Plus (UIN: 109B023V01)
Please refer to detailed brochures on riders, consult your financial advisor or visit our website
for further details.
 EMPOWER PENSION PLAN

BSLI Empower Pension Plan is designed so that you remain in control of your destiny even
during your second innings. This plan helps you to focus on your goals and enhance your
savings for your future ensuring it is free from worries.

Take one step today to ensure a lifetime without worries

BSLI Empower Pension Plan is a unit linked, non-participating pension plan. A simple, hassle
- free plan, it helps you accumulate your premiums and the investment returns thereof
into a corpus for your retirement. We call this period of retirement corpus generation as the
accumulation phase. Once you decide to vest your policy, you will enter into the income
phase where your corpus will be used to purchase a stream of regular income payable for the
rest of your lifetime.

During the accumulation phase we offer our Smart Option - an option where you allow us to
manage and administer your investment portfolio on your behalf, based on your chosen vesting
date and risk profile to meet your retirement objectives.

Your accumulated retirement corpus is utilised at vesting (retirement) to purchase an annuity

option with us prevailing at that time.

PLAN AT A GLANCE

Entry Age (age last birthday) 25 70 years

Accumulation Period
Premium Paying Term
Basic Premium
5 30 years, subject to maximum vesting age of 80 years
Regular pay
Minimum Rs. 18,000 p.a. if paid annually
Minimum Rs. 24,000 p.a. if paid semi-annually
Minimum Rs. 30,000 p.a. if paid quarterly; or
Minimum Rs. 36,000 p.a. if paid monthly

BEFORE YOU READ ANY FURTHER

BSLI Empower Pension Plan is a non-participating unit linked pension plan. All unit linked life
insurance plans are different from traditional insurance plans and are subject to different risk
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.

In this plan, the investment risk in the investment fund chosen by you is borne by you.
Investment funds are subject to investment risks and unit prices may go up or down reflecting
the market value of the underlying assets. Past performance is no guarantee of future results.
 YOUR CHOICES

STEP 1

Choose your basic premium

You choose the basic premium amount you wish to pay regularly in each policy year till the
vesting date. You can pay the basic premium in monthly, quarterly, semi-annual or annual
instalments. Please ask your financial advisor for details about the range of convenient payment
methods we offer.

STEP 2

Choose your vesting date

You choose a vesting date so as to have an accumulation period between 5 to 30 years.

STEP 3

Choose your risk profile

You choose your risk profile Aggressive | Moderate | Conservative, based on your risk
appetite. Once chosen, the risk profile cannot be changed.

Your Guaranteed Vesting Benefit is automatically determined based on the above choices as
explained later.

The basic premium (net of premium allocation charge) will be used to purchase units in the two
investment funds Maximiser Guaranteed (an equity fund) and Income Advantage Guaranteed (a
debt fund) in a predetermined proportion based on the selected vesting date and risk profile.
The units purchased in the investment fund are the monetary amounts allocated to the
investment fund divided by the then prevailing unit price.

Fund Value represents the total value of your investments to date and is the balance of all units
allocated to the investment funds multiplied by its then prevailing unit prices.

YOUR BENEFITS

1. Guaranteed Additions in the form of additional units will be added to your policy:

On 6th policy anniversary and every policy anniversary thereafter, Guaranteed Addition is
0. 25% of the average Fund Value in the last 12 months; plus

On 11th policy anniversary and every policy anniversary thereafter, Guaranteed Addition is
0.35% of the average Fund Value in the last 12 months; plus
 On 16th policy anniversary and every policy anniversary thereafter, Guaranteed Addition is
0.35% of the average Fund Value in the last 12 months

After completion of 5 policy years, non-negative residual additions, if any, shall be credited to
the policy in order to meet the maximum reduction in yield as in Regulation 37 of IRDAI (Linked
Insurance Products) Regulations, 2013.

Vesting Benefit On your vesting date, you will receive the greater of (a) your
Guaranteed Vesting Benefit or (b) the Fund Value. The Guaranteed Vesting Benefit varies by
your chosen vesting date and risk profile. Guaranteed Vesting Benefit, once assigned to your
policy at inception, shall remain constant.

Depending on our expectations with regards to future economic conditions, the Guaranteed
Vesting Benefit may be revised on April 1st of every calendar year (as approved by IRDAI)
subject to a minimum Guaranteed Vesting Benefit of 101% of the basic premiums paid and will
be applicable for policies issued thereafter.

The current Guaranteed Vesting Benefit is displayed in the table below:

Years to Vesting Guaranteed Vesting Benefit

Risk Profile
Aggressive Moderate Conservative

5 * * 105%
6 10 101% 106% 112%
11 15 102% 110% 119%
16 20 103% 114% 126%
21 25 104% 118% 133%
26 30 105% 122% 140%
As a percentage of basic premiums paid.
* For 5 years to vesting, only Conservative risk profile will be available.

On the vesting date, you can utilise the Vesting Benefit to:

Extend the accumulation phase, provided you are below the age of 55 years, provided
maximum vesting age is not more than 80 years. On extension, you will continue to be
invested in Income Advantage Guaranteed Fund for the extended period including the basic
premiums paid during the extension period; or

Enter into a single pay deferred pension plan with us as per then available products on your
vesting date; or
 Commute up to 1/3rd of the Vesting Benefit and receive the amount in a tax-free lump sum
(as per the current Income Tax Act) and utilise the balance to receive a stream of regular
income from us as per our then available products; or
Enter into an income (annuity) phase with us as per our then available products on your
vesting date
Please ask your financial advisor or visit our website to understand the available products at
the time of your vesting.

Death Benefit In the unfortunate event the life insured dies while the policy is in effect, we
will pay to the nominee the greater of (a) the Guaranteed Death Benefit or (b) Fund Value as on
date of intimation of death.

The Guaranteed Death Benefit is the greater of (a) 105% of all basic premiums paid or (b)
Accumulation of all basic premiums paid till date at a compounding guaranteed rate. The
guaranteed rate varies by the risk profile chosen by the policyholder and is equal to 0.5% p.a.,
1.5% p.a. and 3.0% p.a. for Aggressive, Moderate and Conservative risk profiles respectively.

The nominee then has the choice to withdraw the death benefit proceeds; or utilise the entire
proceeds or a part thereof to enter into an income phase with us as per our then available
products offered by us.

Surrender Benefit In case of emergencies, you can surrender your policy to us anytime till
vesting During the first five policy years the benefit on surrender will be as explained in the Policy
Discontinuance section.

In case you surrender the policy after five years you can avail of the surrender benefit in the
following manner:
Enter into a single pay deferred pension plan with us as per then available products on your
surrender date; or
Commute to the extent allowed (as per the extant Income Tax Act) and utilise the balance to
receive a stream of regular income from us as per our then available products; or
Enter into an income (annuity) phase with us as per our then available products on your
surrender date
 FUNDS BY BSLI

Birla Sun Life Insurance, a leading Life Insurance company, offers its clients with a long
range of Funds. These funds are designed to cater to a variety of needs of people who are
from different life stages. BSLI offers a broad range of 12 funds, each having differing
asset allocations.

12 funds offered are:

1. Individual Protector
2. Individual Assure
3. Individual Balancer
4. Individual Builder
5. Individual Creator
6. Individual Enhancer
7. Individual Life Maximiser
8. Individual Magnifier
9. Individual Multiplier
10. Pension Nourish
11. Pension Enrich
12. Pension Growth

A new fund named Platinum Plus Fund I is also added in this list of funds.

Asset Allocation is decided by the Fund Managers of the company. These fund managers
continuously tracks the movements of volatile market and combine this volatility with the
fund requirements of the policyholders. Accordingly he decides allocation of assets in 5
major investment options:
 Government Securities
Corporate Debt
Securitized Debt
Equity
Money Market Instruments

Proportion of allocating the fund in these options, vary according to the needs and fund
requirements of policyholders. The most important thing to be noticed here is that this
portfolio is decided, based on the regulations of IRDA. Performances of these funds are
rated by the rating agency-CRISIL.

All the 12 funds by BSLI are described below along with their respective Asset
Allocations.

Individual Assure

Objective: The primary objective of this fund is to provide Capital Protection, at a high
level of safety and liquidity through judicious investments in high quality short-term
debt.

Strategy: Generate better return with low level of risk through investment into fixed
interest securities having short-term maturity profile.
Asset Allocation:

SECURITIES HOLDING

Corporate Debt 59.57%

Money Market Instruments 17.97%

TOTAL 100.00%

HOLDING

Corporate Debt

59.57%
Money Market
100.00% Instruments

TOTAL

17.97%

Individual Balancer

Objective: The objective of this fund is to achieve value

creation of the policyholder at an average risk level over
medium to long-term period.
 Strategy: The strategy is to invest predominantly in debt
securities with an additional exposure to equity,
maintaining medium term duration profile of the portfolio.

Asset Allocation:

SECURITIES HOLDINGS
Government Securities 10.67%
Corporate Debt 39.04%
Equity 23.44%
Money Market Instruments 26.85%
TOTAL 100.00%

Pension Growth

Objective: This fund option is designed to build the capital

and to generate better returns at moderate level of risk, over
 a medium or long-term period through a balance of
investment in equity and debt.

Strategy: Generate better return with moderate level of risk

through active management of fixed income portfolio and
focus on creating long term equity portfolio which will
enhance yield of composite portfolio with low level of risk
appetite.

Asset Allocation:

SECURITIES HOLDINGS
Government Securities 13.90%
Corporate Debt 45.41%
Equity 18.63%
Money Market Instruments 22.06%
TOTAL 100.00%

Pension Enrich
 Objective: Helps to grow the 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.
Strategy: To earn capital appreciation by maintaining
diversified equity portfolio and seek to earn regular return
on fixed income portfolio by active management resulting
in wealth creation for policyholders.
Asset Allocation:

SECURITIES HOLDINGS
Government Securities 14.35%
Corporate Debt 39.40%
Equity 32.69%
Money Market Instruments 13.57%

TOTAL 100.00%
 CONCLUSION

My training was a very enriching experience for me, I have learnt

so many things, and i got insight into the insurance world.
Insurance sector today playing a major role in everyones life lot
more than ever before life currently there is a comprehensive range
of products covering each type of policy available in the market. I
have studied various insurance plans covered under BSLI, and
their features. BSLI also gives various Riders, which provides
extra benefits to the customers. And i came to know about the
pioneering features of BSLI, like sales procedure, SIP, etc.

While most insurance plans block money for certain period of

time, a BSLI plan gives the double benefit of life insurance along
with easy liquidity through lump sum cash.

Birla Sun Life Insurance (BSLI), one of the largest private life
insurers, is gearing itself to take advantage of the vast rural
opportunity that has opened up as a result of the revised definition
of rural areas by the IRDA. Over the last four years, BSLI has
painstakingly built its rural infrastructure to create a cost-effective
distribution network across the country.

My training gave me corporate exposure, and helped in improving

my communication skills. I learnt to deal with customers, i made
them aware about various plans, and their respective features, even
helped them to select the best plan as per their requirements.

RECOMMENDATIONS

1. Competition from public sector and foreign banks remains a key

challenge for private sector banks. They need to reorient their staff and
effectively utilize technology platforms to retain customers.
2. They have to update their portfolio timely.
3. Birla Sun Life Insurance Ltd should have proper division of
departments under heads.
4. Birla Sun Life Insurance Ltd should have more pension plans.
5. Birla Sun Life Insurance Ltd should have more children plans, and more
help line plans
6. They should provide more information to the customer so that they
become more aware about insurance
 BIBLIOGRAPHY

1. www.birlasunlife.com

2. www.Paisawaisa.com/LifeInsurance

3. Company brochure

4. Company brochure/ VISION STAR PLAN

Company brochure/ VISION LIFE INCOME
Company brochure/ VISION LIFE INCOME
Company brochure/ EMPOWER PENSION PLAN
Company brochure/ WEALTH MONEY BACK PLUS

6. www.google.com

7. www.adityabirla.com
 ANNEXURE

1. Do you make investments?

A.Yes
B.No

2. How much you earn annually?

A. Below 50,000
B. 50,000-100,000
C.100, 000-1, 50,000
D. Above 150000

3. Do you know about insurance?

A. Yes
B. No

4. Do you know about BSLI?

A. Yes
B.No
5. How did you came to know about it?
A Newspapers
B. Online
C. Personal Reference
D. Other

6. What assets do you own?

A. Personal house
B.Car
C.Credit card

7. Where would you like to invest?

A. Mutual Fund
B.Stocks
C.Real estate
D.Insurance
8. What would u like to insure?
A. Vehicle
B.Life insurance

9. Which insurance plan of BSLI are you

interested in?

A.Saral Jeevan
B.Gold Plus II
C.Platinum Plus
D.Classic Life Premier

10. How do you rate our plans?

A. Average
B. Good
C. Excellent