Birla Sun Life launches new product

Birla Sun Life Insurance (BSLI) has launched a product called Birla Sun Life Insurance Platinum Plus.

The plan is a short pay, medium-term unit linked insurance plan offering guaranteed maturity unit price. The fund could have up to 100% exposure in equity and fixed income assets, with money-market investments capped at 40%.

Another special feature of the insurance plan is the option to reduce annual premium in the second and third year, with a minimum cap at Rs. 1 lakh. The plan will allow partial withdrawals after three policy years and full liquidity without penalty after three years.