Tojalkree They have deducted nearly rupees for cost of He would do all research on buying a TV or anything else for the same amount, but gets brainwashed into buying Bilra. Image size per photo cannot exceed 10 MB. I launched a complaint with Birla sunlife. Click here to know more. Reply as a Brand. All those friends too surrendered their policies very soon.

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Surrender Charge The surrender charge is applied if and when you surrender your policy in the first 3 policy years. The amount you will receive will be the fund value less this charge. This charge is guaranteed to never increase.

Revival Charge The current charge for policy revival is Rs. We may increase this charge at any time in the future subject to a maximum of Rs. IRDA Approval Only when specified and within stated limits, we may increase a particular charge at any time in the future. We, however, need to get prior approval from the IRDA before such charge increase is effective. Otherwise, all other charges in this policy are guaranteed to never increase during the tenure of the policy.

What happens if I miss out paying my premiums? If you are unable to pay the policy premium by the due date, you will be given a grace period of 30 days during which time all insurance cover under your policy will continue. If you do not pay your premium within the grace period of 30 days, the following will be applicable: During the first three policy years - Your policy will lapse if we do not receive the entire policy premium by the end of the grace period.

The insurance under your policy will cease and your fund value will be held in suspense after deduction of Surrender Charges. This net fund value will be paid out to you only at the end of the third policy year or the end of the two-year revival period, whichever is later.

You can revive your policy within two-years from its lapse date due date o[censored]npaid policy premium by paying all outstanding policy premiums and providing us with evidence of insurability satisfactory to us. If the life insured dies while the policy is not yet revived, we will pay the fund value as of the lapse date immediately and terminate the contract. After three completed policy years - If we do not receive the entire policy premium by the end of the grace period, then you will be given a period of two years starting on the due date of the unpaid policy premium to pay all outstanding premiums till date.

Your policy will continue during these two years, as well as all insurance cover and charges. At the end of this two-year period, we will give you the choice to either surrender your policy or continue it without the payment of additional policy premiums. Your policy will, however, be deemed as surrendered should your fund value equals one annual policy premium.

What if I change my decision of buying the policy? You will have the right to return your policy to us within 15 days from the date of receipt of the policy. We will pay the fund value plus all charges levied till date excluding the fund management charge once we receive your written notice of cancellation along with reasons thereof together with the original policy documents.

Unit Price On each business day and for each investment fund, we determine the unit price by dividing the net asset value NAV of the investment fund at the valuation time by the number o[censored]nits in existence for the investment fund in question.

We publish the unit prices of all investment funds on our website www. The NAV is determined based on whether we are purchasing appropriation price or selling expropriation price assets in order to meet the daily transactions o[censored]nit allocations redemptions associated with the investment fund.

When appropriation expropriation price is applied, the NAV of the investment fund is the market value of investment held by the fund; plus less the expenses incurred in purchasing selling assets; plus the value of current assets; plus any accrued income net of fund management charges; less the value of any current liabilities or provisions.

This NAV divided by the number o[censored]nits existing on the valuation date, before units are allocated redeemed , gives the amount of money we put in to take out of the investment fund per unit allocated redeemed.

Suicide We will refund higher of fund value or policy premiums paid to date in the event the life insured dies by suicide, whether medically sane or insane, within one year after the issue or revival date, whichever is later. Section 41 of the Insurance Act, No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

Section 45 of the Insurance Act, No policy of life insurance effected after the coming into force of this act shall, after the expiry of two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the life insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent Regards.


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