INTRODUCTION TO

INSURANCE

INTRODUCTION TO
ULIP

COMPANY PROFILE

TRADITIONAL PLANS
OF BSLI

ULIPS PLANS OF BSLI

COMPARATIVE
ANALYSIS

FINDINGS

CONCLUSION

BIBLOGRAPHY
WEBSITES
www.google.com
www.birlasunlife.com

Office
Birla

Sun

Life

Insurance

EVS Tower, 1st Floor, Dr. Radhkrishnan Salai Mylapore,

Chennai 600004

Conclusion:
Thus it conclude that Birla Sun Life Insurance
provides or better products & services to the

customers. BSLI offers a spectrum of products to

meet the growing needs of individuals and group
insurance through a multi channel distribution
network.

The

company

has

quadrupled

its

distribution network to over 600 branches and

more than 100,000 advisors.
With an experience of over 9
years, BSLI has contributed significantly to the
growth and development of the life insurance
industry in India and currently ranks amongst the
top 5 private life insurance companies in the
country.

Company profile

Birla Sun Life Insurance Company Limited is a

joint venture between The Aditya Birla Group, one
of the largest business houses in India and Sun
Life

Financial

financial

Inc.,

services

leading

international

organisation.

The

local

knowledge of the Aditya Birla Group combined

with the expertise of Sun Life Financial Inc., offers
a formidable protection for your future.
The Aditya Birla Group has a turnover of close to
It has over 100,000 employees across all its units
worldwide. It is led by its Chairman - Mr. Kumar
Mangalam Birla. Some of its key companies are
Hindalco, Grasim and Aditya Birla Nuvo.

Sun Life Financial

Sun Life Financial Inc. is a leading international

financial services organisation providing a diverse
range of wealth accumulation and protection
products and services to individuals and corporate
customers. Tracing its roots back to 1865, Sun Life
Financial and its partners today have operations in
key markets worldwide, including Canada, the
United States, the United Kingdom, Hong Kong,
the Philippines, Japan, Indonesia, India, China
and Bermuda. As of 31 March 2008, the Sun Life
Financial group of companies had total assets
under management of US$ 343 billion
Sun Life Financial Inc. trades on the Toronto
(TSX), New York (NYSE) and Philippine (PSE) stock
exchanges under ticker symbol "SLF".

BACKGROUND OF BIRLA SUN LIFE

INSURANCE.
Risk management against a huge loss is
very necessary, and insurance is transfer of risk
from one entity to another. Several companies
have come up these days with life, health, medical
and travel insurance. One such company is Birla
Sun Life Insurance. Providing a number of
insurance products, Birla Sun Life is a prestigious
company
to
bond
with.
Birla Sun Life Insurance Company
Limited is a joint venture between the Sun Life

Financial Inc and the Aditya Birla Group. Birla

Sun Life Insurance was the first company in the
sector of financial solutions to begin Business
Continuity Plan. In fact, policies were first issued
by this insurance company on the Internet. This
insurance provider company has pioneered the
unique Unit Linked Life Insurance Solutions in
India.
Some of the Birla Life Insurance products include:
Insurance for protection
Insurance for retirement
Insurance for saving
Insurance for children
Insurance for riders
Insurance for rural
Birla Sun Life Insurance for Protection includes
insurance such as Birla Sun Life Insurance Term
Plan and Birla Sun Life Insurance Premium Back
Term Plan. Birla Sun Life Insurance Term Plan is
apt for those seeking insurance benefits at
economic costs. The plan covers all the liabilities
and provides absolute security. The minimum age
limit for acquiring the insurance is 18 years and

maximum is 55 years. One can pay the premium

either annually, monthly, quarterly or semiannually. One can pay it through the ECS mode of
payment
or
on
a
one-time
basis.
The Birla Sun Life Flexi SecureLife IIRetirement Plan is segregated into 2 sections. One
is the Accumulation or build up phase and the
other is the Annuity or the payout phase. With
this plan one can enjoy tax benefits. Surrender
scheme is also applicable to this plan. One can
give up the policy after the 3 years of policy till the
vesting
age.

BRANDS OF ADITYA BIRLA GROUP

Birla Sun Life Insurance (BSLI) has been operating

for 9 years. It has contributed significantly to the
growth and development of the life insurance
industry in India. It pioneered the launch of Unit
Linked Life Insurance plans amongst the private
players in India. It was the first player in the
industry

to

sell

its

policies

through

the

Bancassurance route and through the Internet. It

was the first private sector player to introduce a
Pure Term plan in the Indian market. BSLI has
covered

more

than

million

lives

since

it

commenced operations. And its customer base is is

spread across more than 1500 towns and cities in
India. The company has a capital base of Rs.
1274.5 crores as on 31st March 2008.

With an experience of over 9 years, BSLI has

contributed

significantly

to

the

growth

and

development of the life insurance industry in India

and currently ranks amongst the top 5 private life
insurance

companies

in

the

country.

Known for its innovation and creating industry

benchmarks, BSLI has several firsts to its credit. It
was

the

first

Indian

Insurance

Company

to

introduce Free Look Period and the same was

made

mandatory by IRDA for all other life

insurance companies. Additionally, BSLI pioneered

the launch of Unit Linked Life Insurance plans
amongst the private players in India. To establish
credibility and further transparency, BSLI also
enjoys the prestige to be the originator of practice
to disclose portfolio on monthly basis. These
category development initiatives have helped BSLI
be closer to its policy holders expectations, which
gets further accentuated by the complete bouquet
of insurance products (viz. pure term plan, life
stage products, health plan and retirement plan)
that

the

company

offers.

Add to this, the extensive reach through its

network

of

600

branches

and

1,75,

000

empanelled advisors. This impressive combination

of domain expertise, product range, reach and ears
on ground, helped BSLI cover more than 2 million
lives since it commenced operations and establish
a customer base spread across more than 1500
towns and cities in India. To ensure that our
customers have an impeccable experience, BSLI
has ensured that it has lowest outstanding claims
ratio of 0.00% for FY 2008-09. Additionally, BSLI
has the best Turn around Time according to LOMA
on all claims Parameters..

BIRLA SUN LIFE INSURANCE ACHIEVEMENTS

In the "Great Places to Work 2006 Survey", Birla Sun Life Insurance Company
Limited secured the18th position amongst the top
25 companies. The company had secured a rank
in the "Top 25" by the "Grow Talent - Great Places
to Work" survey another time as well.

In the Cirrus & ORG Media survey, Birla Sun

Life Insurance secured the 3rd position amongst
the various private life insurance companies.
AWARDS:
At Birla Sun Life Insurance, winning is a way of
life. Our innovative solutions and customerfriendly services have been admired, appreciated
and rewarded by customers and the industry at
large.

Awards showcase

Recruiting and Staffing Best in Class

Awards

Outlook Money Awards 2004 BSLI - Best Life

Insurer (Runner Up) 2004 TROPHY.

Outlook Money Awards 2004 BSLI - Best Life

Insurer (Runner Up) 2004 CERTIFICATE.

The 8th Asia Insurance Industry Awards

2004 - Birla Sun Life Insurance was among the top
five nominees in the category.

The Indo-Canadian Business ChamberBSLI awarded for its 'Successful Performance' for 4
years April 2005.

Birla Sun Life Insurance was presented 'The

Hewitt Best Employers In India Awards 2004'
Trophy.

Birla Sun Life Insurance was awarded 'The

Great

Place

to

Work

Seminar

Series

2007

Presented by Anil Sachdev (Chairman & MD of

Grow Talent Company Ltd) Robert Levering (Cofounder

Great

Place

to

Work

Institute)

and

Jehangir Pocha (Business World Magazine).

The Bhartiya Shiromani Puraskar awarded

to

BSLI

at

the

seminar

on

"Economic

Development New Delhi, on February 13, 2006.

This is a Certificate of Excellence for Enhancing
the image of India presented by Dr. Bhishma
Narain Singh (Former Governor of Tamil Nadu &
Assam) in association with the "Institute

of

Economic Studies (IES)".

A letter sent to BSLI - A Message from the

Mayor, David Miller - Toronto, December 2005.

Hewitt Best Employers in India 2004

Sponsorship Acknowledgement for - The

Asia Insurance Review.

Payment Options:

At BSLI, we strive to find out ways and means to

make

our

Customer's

relationship

with

us

convenient and hassle free. With this in mind, we

are glad to present you with some convenient and
user friendly renewal payment methods to ensure
that you always make premium payment with ease
and enjoy uninterrupted Life Insurance Coverage.

Always there to Help you!

Our customer support section is your
one-stop access to a world of information. From
addressing your queries related to our solutions
and services, to providing relevant information
about procedures, we have designed this section to
equip you with the right information at every step.

With Birla Sun Life Insurance, an

enriching

customer

experience

is

guaranteed

always!
Manage your Policy:
With help of your CIP TPIN, enjoy the ease of
managing your policy anytime, anywhere.
Feedback:

Share your feedback on our people, products

and processes, and help us support you better.
FAQs:
Find answers to some of the most common
insurance-related

questions

asked

by

our

customers.

Claims:
Learn more about our simple and hassle-free
Claims procedures.

Premium Payment Options:

Discover easy and convenient modes of paying
your renewal premium.

Tax Benefits:
Discover how you can secure your future as well
as

avail

tax

benefits

with

your

insurance

solution.

Application Tracker:
Track your policy application status instantly.
Policy Servicing Forms:
You can download the various utility forms
which will aid you effect, your policy related
requests