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KRC Life Insurance products
KRC Insurance Division provides clients with customized insurance solutions. KRC covers a wide range of insurance solutions both in life insurance as well as general insurance such as property, health etc. The Division undertakes all the formalities needed for policy issuance, and monitoring of insurance plans. KRC also provides Claim Assistance services for processing claims.
Investment
Child Life Solutions (between the age group of 1 to18)
Every parent wants to plan for their child's future and see to it that they have enough capital to pursue their dreams. We have developed the Child Life Solutions keeping this in mind, to allow you to plan for the building up of capital for child so that s/he has that head start at age 25. You can use this for long term needs such as education, marriage or to provide capital for buying a house, with the advantage of liquidity available in case of an immediate need or emergency.
The following table outlines the options and benefits you could choose under our Child Life Solutions Plan for a child at age 3. These plans are brought to you through Birla Sun Life Insurance Company Limited with its unique features of flexibility, transparency and higher returns.
|
Premium Paying Period (Sum) |
Premium Amt. |
Mode |
Fund at Age 18 Rs in lakhs |
Fund at Age 23 Rs in lakhs |
|
Single (1.00) |
81528 |
Annual |
3.05 |
7.05 |
|
5 Years (3.00) |
13533 |
Quarter |
10.63 |
16.63 |
|
10 Years (3.00) |
7332 |
Quarter |
7.74 |
13.52 |
|
15 Years (3.00) |
5187 |
Quarter |
6.50 |
11.35 |
The contribution is in the form of Single Premium or over a short period of 5-10 years with Tax benefits for the Parents investing. In case funds are not needed at the end of 25 years, the amount could be reinvested into a Flexi Save Plus maturing at age 80.
Restrictions
Advantages
Some of the interesting and unique features of Birla Sun Life Solutions are:
-
Unique Investment options that enable you to earn higher returns
-
Flexible premium paying options - you can increase or reduce the amount of premiums due
-
No lapsation of policy
-
High Surrender Values - no penalties for withdrawal after 5 years
-
Higher Liquidity during the term of the policy - money available for withdrawal at any time
-
Flexibility to add and remove riders at any time during the term of the policy
-
Higher transparency of funds - Weekly intimations of returns so you can see your fund grow on a week to week basis
-
Management of own funds - Unlike a Mutual Fund - each investor would have funds allocated to his own account - complete de-risking strategy | 
