BSLI launches Children's dream plan, targets Rs 100 cr in one month

Mumbai, Mar 5 (UNI) Birla Sun Life Insurance (BSLI) today announced the launch of Children's Dream Plan-a unit linked plan (ULIP) for children with guaranteed maturity benefits and plans to earn a revenue of Rs 100 crore within one month from the new product.

Briefing mediapersons here today, BSLI President and CEO Vikram Mehmi said ''There was a robust growth on the front of ULIPs related to this segment as today's parents are getting more concerned towards providing best education to their children.'' Company Vice President and Chief and Appointed Actuary Fabien Jeudy said ''We have projected a target of earning a revenue of Rs 100 crore from the sale of the new product in one month's time.'' With a view to help parents invest for the future of their child, we have appointed 50,000 advisors all across the country, he said.

Referring to a recent survey conducted on the issue, he said ''The survey consisting of our policyholders and non-policyholders showed that there is a very high potential for the product category related to 'planning for a child's future'. On an average, one in every five parents in the age group 25-35 years, having at least one child (aged 3 to 18 yrs) invests specifically keeping the child's future in mind, he said.

And the new products provides unique solutions for the policyholders, he said.

It is a superior product platform. The plan guarantees 100, 200 and 300 per cent guaranteed maturity options. Moreover, the new plan is specifically designed to help the policyholder provide financial security to the child when he becomes an adult, he said.

The plan combines a guaranteed return on savings with upside potential based on the performance of the investment funds.

Therefore, irrespective of future performance of the investment funds, the policyholder is always guaranteed the maturity amount chosen for the child, he added.

UNI