BSLI Foresight Plan is a medium-term unit linked savings plan apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options
Birla Sun Life Insurance, a subsidiary of Aditya Birla Nuvo, has launched BSLI Foresight Plan, a cutting-edge solution that provides customers the upside of market returns while completely shielding their investments from downside risks. This medium-term unit linked savings plan is apt for a volatile market providing the perfect blend of guarantee, flexibility and liquidity options.
Fabien Jeudy, chief actuarial officer, Birla Sun Life Insurance said, "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 the lack of knowledge on timing the market and the resultant fear of loosing their money. This behavior brings forth the need for a product offering that can eliminate this fear and give customers the confidence of not just optimizing investments when the markets are low but also locking the gains, when the markets are at a high."
He further adds "Keeping this unfelt customer need in mind, we have designed BSLI Foresight Plan, an innovative investment avenue that addresses this requirement. We are positive that this product will induce many more customers to take their first step towards participating in the equity markets, help them protect their investment downside and lock their gains."
BSLI Foresight Plan provides upside of market related returns while shielding investments from downside risks. The plan offers full freedom to switch from one fund to another-from amongst 10 investment funds under self-managed option. It also offers options-such as increase protection by choosing higher sum assured multiple, option to pay all five years premium in advance, tax benefits under Sections 80C and 10(10D) of the Income Tax Act,1961 and opportunity to invest in New Generation Foresight Fund.
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