Birla Sun Life Dream Plan

1. 

   Anonymous
   

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   Please help me understand Birla Sun Life's Dream Plan.

   Posted 2 years ago #
2. 

   chaudharysonal
   

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   Dream Plan is a combination of :
   1.Life Cover + Return on Investment
   2.Plan Guarantees Maturity Benefit “Payable only at maturity”
   3.The Plan has 3 fund options – Protector, Builder and Enhancer.
   4.One can opt for double or triple Guaranteed Maturity Benefit also.

   Other features:
   No Loan facility is available under the plan

   Posted 2 years ago #
3. 

   pricilla
   

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   Before going further just check the conditions applicable to :
   A. Minimum Guaranteed Maturity Benefit (GMB) and
   B. Double or triple Guaranteed Maturity Benefit

   Cond. For point A[u]

   The minimum GMB is payable only on the maturity of the policy, assuming that all premiums are paid when due. Otherwise, the GMB will be limited to the Guaranteed Fund Value.

   Cond. For point B[u]

   By opting 200% or 300% GMB option, the policy shall continue under a settlement option for a period of 5 years starting on the maturity date of the policy.

   During the settlement period, no policy charges are levied except the Fund Management Charge. Also the life cover along with riders, if any cease automatically which please note.

   Posted 2 years ago #
4. 

   palak
   

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   Joined: Jun '09
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   The death Compensation and other benefits payable under the plan are as follows:

   Death Comp.: = Sum Assured (SA) + enhanced SA + Greater of Fund Value and Guaranteed Fund Value.

   Maturity Benefit & Settlement Option:
   Greater of Minimum Guaranteed Payments or the Guaranteed Fund Value* will be paid.

   *Guaranteed Fund Value = all premiums paid, less (charges and guaranteed maturity benefit(s), accumulated at 3% per annum)

   Posted 2 years ago #
5. 

   rajkumar
   

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   Like all other ULIP policies following charges can be levied depending upon case to case and benefits opted:

   1.Premium allocation charges
   2 Policy Administration charges
   3 Fund Management charges
   4 Service tax as applicable
   5 Other charges: Switch over charges, Surrender charges, Revival Charges.

   Posted 2 years ago #
6. 

   Anonymous
   

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   not very explanatory

   Posted 2 years ago #
7. 

   venice
   

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   An insurance advisor told me that if I pay 104,000 (one lac four thousand) for 8 years (where the whole term of the dream plan is 25 years), and thereafter stop paying, the guaranteed maturity benefit will be 12,50,000 and the guaranteed fund value will be 23,00,000 (23 lacs) so overall will get 35 lacs.
   Can this be true ? Of course this is subjec to I not withdrawing partially any amount.
   the sum assured is close to 20 lacs.

   Posted 2 years ago #
8. 

   Anonymous
   

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   The proposal is lucrative but according to the terms and conditions of the plan the investor is eligible to get higher of either the Guaranteed Maturity or Guaranteed Fund value and that too at the time of maturity only.

   Hence either u will get Rs. 12,50,000 or 23,00,000 which ever would be higher at the time of maturity.

   Further the proposal needs scrutiny on various counts specially regarding the several charges that will be deducted in 25 yrs to ascertain the feasibility of the such lucrative fund appreciation.

   Do let us know the out come of the discussion with the adviser for the benefit of others.

   Posted 2 years ago #
9. 

   saurabhjindal
   

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   Joined: Dec '09
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   @Venice:
   The amount of return at the end of the maturity period can never be predicted.It is an assumed return calculated normally at 6% and 10% rate of return, after deducting all the charges.
   GMB is a feature of the Birla plans where in they assure you a guaranteed amount after the maturity of the policy( in case you have paid all the premiums).Also the return which your plan provides, is also dependent on the kind of fund wherein you invest the money.For eg, if you invest in equity based funds and if the markets are doing well, your fund value will increase substantially but the fund values will have a big downfall if the equity markets are not doing well.
   Normally for a long term plan,lets say 20 years, investment in equity based funds should be for 12-14 years.Then your investment should be in a balanced fund for the next 4-5 years and in a debt fund for the last few years.This way you will have better chances of growth of your money and you minimize the risk also when you need to withdraw the money.

   So, if your advisor, tells you abt the money you can expect to get at the end of the period and not the exact amount.
   You can ask your advisor to share with you an illustration of the plan which shows you the exact returns @ 10%.

   Posted 2 years ago #
10. 

    ganesh21
    

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    This plan has been already closed.

    Posted 2 years ago #
11. 

    Anonymous
    

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    there are lots of hidden charges in this plan....

    Posted 1 year ago #
12. 

    Anonymous
    

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    THIS FUND IS JUST A FRAUD ON INVESTORS AND INVESTORS SHOULD NEVER COME IN THE TRAP OF THE AGENTS. I STARTED THE FUND IN 2008 PAID PREMIUMS OF RS 45065 EACH IN 2008, 2009 AND 2010 TOTALLYING TO 135000. THEY CONCEALED THE FACTS FROM ME AND TOLD ME THAT I CAN STOP IT AFTER 3 YEARS AND AT THE END OF 5TH YAER I WILL BE GETTING 4,50000. BUT THEY HAD BEEN SWITCHING OVER TO THE NEW FUNDS OF THEIR OWN AND HAD BEEN DEDUCTING RS 2000 PER MONTH (WHICH WAS NOT WRITTEN ANYWHERE 0N THE BROCHURE OR SCHEME PAPERS. NOW AFTER THREE YEARS THE VALUE OF MY 1,45,000 HAS BEEN REDUCED TO RS 72000, WHICH IS THE VALUE OF THE 'UNITS' !!! CAN ANYONE HELP ME WHERE TO COMPLAIN AND HOW TO GET MY MONEY BACK FROM THESE CHEATS? I AM NOW TO RETIRE AND MY HARD EARNED MONEY HAS BEEN EATEN AWAY BY BIRLA SUNLIFE . WHEN I TALKED TO THE AGENT HE TOLD ME THAT HE HIMSELF WAS NOT AWARE OF THIS MONTHLY DEDUCTION OF RS 2000. ALL THIS HAS HAPPENED WHEN THE SENSEX ROSE TO ABOVE 20000 FROM 13000 !!! WHEN WILL THEIR FUND EARN THE MONEY IF IT COULD NOT EARN NOW? THE COMPANY DOES NOT BEAR ANY LOSS AND DEDUCTING THE MONTHLY PREMIUM (WHICH WAS NEVER TOLD TO ME IN THE BEGINNIG). THEY HAVE SIMPLY CHEATED ME !! I JUST WANT MY MONEY BACK ! CAN ANYBODY HELP ME PLEASE ??

    - PROFESSOR P P BAHUGUNA
    INDIAN SCHOOL OF MINES DHANBAD

    Posted 12 months ago #
13. 

    Anonymous
    

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    @professor PP...if you really feel you are cheated then write to IRDA..

    Posted 11 months ago #
14. 

    Anonymous
    

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    I took ULIP policy(001066868) from Birla Sunlife Insurance 4 years back through Citi bank. I paid 36000 annually for 3 years which was my locking period.

    So, ideally I should get more than 1 lakh Rs. after the completion of 3 years
    which was not in my case. When I called I was surprised to know that I will get only 70000 Rs. I was told that if I wait for one more year (four years in total) then I will get the capital amount of 1L which I have invested. Today after 4 years when I call the person says that I will get only 71000 Rs only.

    Who in this world would invest an amount of 1L and get a return of only 71000 Rs only? This is clearly fooling people in the name of Insurance.

    I have also joined LIC ULIP exactly after 1 year of joining BSLI. I invested 50000Rs for three years and at the end of three years I got 190000 Rs which makes sense. I invested 1.5 Lakhs and I got 1.9 Lakhs after 3 years. This is what investment is, and not BSLI insurance policy.

    People stay away from BSLI policies. They are not here to save your money, they are here to earn their livings using your money. Go for LIC which is best and no hidden charges.

    Regards,
    Bency

    Posted 9 months ago #
15. 

    Anonymous
    

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    Agree with you Bency.
    My case is the same as yours.
    I've taken a Dream plan 25 yrs tenure in 2007 with an yearly premium of 25k\-.
    After 4 years my total fund value is only 89k. its less than the actual amount I've invested. Looks like my fund value is decreasing by 5%.
    When the agent talked to me 4 years ago he showed me the stats of every year growth rate as 18%-25% but forget by increase my fund value is just decreasing.
    Should I stop the policy and withdraw all my money?

    Posted 6 months ago #
16. 

    Anonymous
    

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    Get full information online about birla life insurance, birla sun life insurance, birla sun life insurance company etc..

    Posted 5 months ago #

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