BSLI launches 100 per cent equity linked insurance plan

Mumbai, June 13 (UNI) Riding on the bull run in the stock market, Birla Sun Life Insurance Company Limited (BSLI), today launched a unit linked insurance 'Gold Plus Plan,' having 100 per cent equity exposure, in order to provide greater wealth to medium term investors.

Addressing a press conference here, BSLI President and Chief Executive Officer (CEO) Vikram Mehmi said that considering the stability in the country's growth and present surge in the stock market, BSLI unveiled its 'Gold Plus Plan,' in order to maximise returns of its investors by paying premium as low as Rs 10,000 for a short duration of three years.

The BSLI targets middle income groups for the new product.

The new plan is the seventh from BSLI's basket, which also offers flexibility to reduce premium from the second policy depending on the customers financial situation. It offers full surrender value after three years without any penalty.

BSLI will be investing 80 per cent of the proceeds of the plan in BSE-100 equities and 20 per cent in debt.

Offering clarifications over the allocation in debt, Mr Mehmi said that investing 20 per cent in debt will minimise the risk, in case the stock market witness any retreat, though, it was not expected in the near future.

Mr Mehmi further said that the present surge in the equities is based on fundamentals backed by industrial growth and expressed confidence regarding the success of the plan in maximising wealth of investors.

UNI