Birla Sun Life Dream Plan - suggestions required

1. 

   rishipatelsh
   

   member
   Joined: Jun '09
   Posts: 17

   Reputation:34

    

   Hi

   I have a quotation from Birla Sun Life for a ulip policy called Dream Plan. To make an informed decision I thought of discussing all the pros and cons of the plan.

   Following are the details of Dream Plan as provided to me:-
   My age: 24
   Gender: Male
   Guaranteed maturity benefit(GMB): Rs.34,00,000
   Guaranteed maturity option: 100%GMB
   Sum Assured: Rs.18,39,400
   Policy term: 25 years
   Premium paying period: 25 years
   Premium frequency: Annual
   Policy premium: Rs.99,620

   Looking for suggestion from community members.
   Thanks

   Posted 2 years ago #
2. 

   devanand
   

   senior admin
   Joined: Jun '09
   Posts: 94

   Reputation:97

    

   Hi Rishi,

   Guranteed options under the plans says that:

   1. Minimum Guaranteed Maturity Benefit(GMB) is payable only on maturity, and subject to all premiums being paid when due ortherwise GFV only will be given.

   2. Guaranteed Fund Value (GFV) is payable either at maturity time or any time after 3 yrs in case of early withdrawl.

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

   IBS

   Posted 2 years ago #
3. 

   ramlal
   

   junior member
   Joined: Jun '09
   Posts: 5

   Reputation:8

    

   This plan is a combination of :

   1.Life Cover - Sum Assured
   2.Return on Investment- Based on funds performance.

   The Plan has 3 investment funds options–
   a. Protector,
   b. Builder and
   c. Enhancer

   Posted 2 years ago #
4. 

   umeshrungta
   

   new member
   Joined: Jun '09
   Posts: 4

   Reputation:7

    

   Policy Charges for this plan is as under:-

   1. Premium Allocation Charges: Nil

   2. Fund Management Charge: Per Annum
   - Protector- 1% to 1.50%
   - Builder 1.25% to 1.50%
   - Enhancer 1.25% to 1.50%.

   3. Policy Administration Charge: Monthly
   - As mentioned in the per schedule-B of the paln

   4. Surrender Charge: only, if policy is surrender during 1st- 3 yrs of its commencement.

   5. Revival Charges: Min- 100. Max 1000.
   6. Other Policy Charges: fund switing Rs. 100 - 500 max

   7. Mortality Charge: Monthly, as per schedule C of the plan

   Above charges are generally adjusted by way of cancellation of units from your fund account.

   Posted 2 years ago #
5. 

   claimsmanager
   

   new member
   Joined: Jun '09
   Posts: 4

   Reputation:4

    

   Rishi, hope u would also like to understand the Benefits receivalbe under this plan:-

   1. Death Benefit:
   The basic sum assured (plus the enhanced sum assured if opted) + the greater of Fund Value and Guaranteed Fund Value.

   2. Maturity Benefit and Settlement Option:
   On Maturity of the Policy the higher of following minimum Guaranteed Payments or the Guaranteed Fund Value will be paid.

   Posted 2 years ago #
6. 

   laloo
   

   new member
   Joined: Jun '09
   Posts: 4

   Reputation:4

    

   Hi
   I am also interested to know more about this paln.

   Till now an overall picture has been cleared about the plan.

   Can somebody suggest the financial yield and return aspect and past Nav assessments for all 3 funds under the paln?

   Thanks in advance to the community members for their views.

   Posted 2 years ago #
7. 

   Pooja
   

   member
   Joined: Jun '09
   Posts: 24

   Reputation:24

    

   Latest NAVs (26-06-2009) are
   Builder: 24.29
   Enhancer: 29.14
   Protector: 20.25

   Posted 2 years ago #

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