Private insurer Birla Sun Life Insurance Company,a subsidiary of Aditya Birla Nuvo,on Thursday announced the launch of BSLI Foresight Plan – a unit-linked plan.
BSLI Foresight Plan provides customers the upside of market returns,while shielding their investments from downside risks,its Chief Actuarial Officer Fabien Jeudy said here.
This medium-term unit linked savings plan is apt for a volatile market providing the perfect blend of guarantee,flexibility and liquidity options,he told reporters.
“Equity markets have a huge potential towards meeting customer’s long-term wealth creation needs. However,many customers tend to stay away from this attractive opportunity due to lack of knowledge on timing the market and the resultant fear of loosing their money,” he said.
Keeping this customer need in mind,the company has designed BSLI Foresight Plan,an innovative investment avenue that addresses this requirement.
The company is positive about the performance of this product and expects to collect about Rs 1,000 crore premium within the first year,he said.
Foresight Plan can be customised for different investors and offers flexibilities like choice of basic premium from single to yearly category,choice of investment options such as self-managed option with choice of 10 funds or guaranteed option among others.
The product has a minimum five years of lock-in period and offers tax saving benefits as per the regulatory guidelines.
BSLI is a joint venture between the Aditya Birla Group and Sun Life Financial Inc,one of the leading international financial services organisations from Canada.
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