The Hindu Business Line : Birla Sun Life plan for children

The plan is aimed at children between the age of 1 and 17 years. The premium-paying period can be pre-decided by the parents. The policy offers a choice of a money-back plan (Flexi Cash flow) and endowment plan (Flexi Save Plus) with three investment fund options.

Addressing press persons here on Wednesday, Ms Anjana Grewal, Associate Director-Business Development, Birla Sun Life Insurance, said, customers will have the flexibility to shift between the three investment fund options after completion of the first policy year. Policyholders will also have the option to make withdrawals, which are tax free as per current tax legislation, after three policy years without surrendering the policy. The plans are unit-linked with minimum guaranteed returns of 3 per cent on premium, net of deduction and other charges. Any earnings above the guaranteed return will be passed on to the policyholder. The waiver of premium rider can be added on the life of the parent, even though the policy is for the life of the child.

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