From correspondents in Delhi, India, 04:32 PM IST

Birla Sun Life Insurance (BSLI) is the pioneer of Unit Linked Life Insurance plans in India, amongst private life insurers. BSLI has time and again designed investment friendly insurance products, hence presents, yet again, innovation of a different league -. Birla Sun Life Insurance Platinum Plus.

Mr.Vikram Mehmi, President & CEO, Birla Sun Life Insurance remarked “ The Platinum Plus product design is unique and we are once again proud to lead the way in product innovation. The initial response to this plan has been excellent.”

Product Details:

Birla Sun Life Insurance Platinum Plus is a short pay, medium-term unit linked insurance plan, which aims to reduce the investment risk and optimize the returns. The plan offers Guaranteed Maturity Unit Price, first of its kind in the Indian insurance industry.

With the Platinum Plus, not only will our policyholders participate in the equity market but they will also enjoy a Guaranteed Maturity Unit Price. The maximum unit price recorded on the 15th of each calendar month till June 15, 2015.

Hence, we guarantee that the unit price will not lose value. In addition to this we also guarantee the market gains recorded on a Reset date* will be locked-in to be encashed at maturity. (NAV guaranteed, given the current ups & downs of the equity market, which gives the policyholders the potential to earn market upside with downside protection)

Special features:

· Guaranteed Maturity Unit Price

· Highest unit price recorded on the 88 Reset Dates is guaranteed at Maturity

· New Fund Offering – Platinum Plus Fund I

· 10-year benefit period with 3 years premium paying term

· Option to reduce annual premium in the 2nd & 3rd year subject to minimum of Rs 1,00,000

· Partial withdrawals available after three policy years in case of any financial emergency

· Full liquidity without any penalty after three years

*Reset Dates are the 15th of every calendar month (or if not open for business, the next business day) till June 2015

Platinum Plus Fund 1

The main objective of Platinum Plus Fund I, is to optimize the participation in an actively managed well-diversified equity portfolio of fundamentally strong blue chip companies while using the debt instruments and derivatives to lock-in capital appreciations. This fund is for the people who are not very comfortable with the volatility in the equity market but yet want to participate in the equity market to earn good returns. With Platinum Plus dynamic asset allocation strategy, not only will our policyholders participate in the equity market but they will also enjoy the benefit of guarantee.

The fund will invest in an optimum mix of equities & fixed income instruments. The fund may have upto 100% exposure in both equities & fixed income assets while investment in money market instruments will be capped at 40%. Allocation between debt & equity would be dynamically managed. The equity investment strategy would revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a research-focused investment approach. In case of a market decline, the assets may be reallocated more heavily in debt Instruments and money market funds. As a result, the future returns of Platinum Plus Fund I may be lower than those of the equity market.

Source: Press Release Distribution via India PRwire