Birla Sun Life Insurance Platinum Plus III: Review

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Birla Sun Life Insurance Platinum Plus III is in one way similar to SBI Life’s SMART ULIP and Tata AIG Life Invest Assure Apex as all three offer you a guaranteed highest NAV, however major difference here is Platinum plus III guarantee you the highest NAV of each of the working day and not of some predefined reset dates, this gives it a upper hand compared to other two.

There are some other good features as well like Low allocation charge, Only 3 years Premium paying term, No surrender charge after 3 year,

Let us take a look at other terms and condition of the plan.

Platinum plus Fund III in which all of your money gets invested.

For capital appreciation it invest 0 – 100% in equities and to lock capital appreciation it uses debt instrument.

Guaranteed Maturity Unit Price:

The Guaranteed Maturity Unit Price starts at 10 on the first business day, which is 15th May, 2009. Until 16th August, 2016 the Guaranteed Maturity Unit Price is increased on subsequent business days to the then prevailing unit price of Platinum Plus Fund III, if higher.

As a result, the Guaranteed Maturity Unit Price at maturity will equal the highest unit price of Platinum Plus Fund III recorded on all the business days between 15th May, 2009 and 16th August, 2016.

Entry Age of Life Insured: 18 to 70 years.

Minimum Annual Premium: Rs. 50,000.

Minimum Sum Assured: 5 x Annual Premium.

Policy term is 10 years.

Premium payment term is 3 years.

No Surrender charge after 3 completed years and full fund value is paid.

Partial withdrawal from 3rd year.

Maturity Benefit:

Guaranteed Maturity Unit Price multiplied by number of units or fund value whichever is higher.

Death Benefit:

Higher of sum assured (reduced by partial withdrawal) or fund value.

Premium allocation charge:

10% of premium in first year and 4% for rest two years.

This plan is available till August 16th 2009 only.

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