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Birla Sun Life Insurance Platinum Plus is an unit linked Insurance plan which was introduced long back. Here is a review and analysis of this plan.  It may be noted that this is the  first of its kind in the Indian insurance industry when Birla Sun Life introduced this in june 2008. Taking the cues from there on many companies introduced multiple products. LIC introduced Jeevan Aastha and Jeevan Varsha,  ICICI introduced return guarantee fund and IDBI floated Bondsurance… and the list goes on.

birlasunlifeThis is how I would sum up this platinum plus plan – short pay, medium-term unit linked insurance plan, which aims to reduce the investment risk and optimize the returns. Also, the plan offers Guaranteed Maturity Unit Price. With the Platinum Plus, policy holders participate in the equity market as well as enjoy a Guaranteed Maturity Unit Price. What it means is that the maximum of unit price recorded on the 15th of each calendar month till June 15, 2015 will be the maturity price. Due to this option, the plan guarantees the unit price not lose its value and since there can be 84 such data points over the entire period, the customer would be on better side. Since NAV is guaranteed over a span of data points, given the current ups & downs of the equity market, which gives the policyholders the potential to earn market upside with downside protection.

Salient features of Birla Sun Life Insurance – Platinum Plus plan:
• Guaranteed Maturity Unit Price
• Highest unit price recorded on the 88 Reset Dates is guaranteed at Maturity
• New Fund Offering – Platinum Plus Fund I
• 10-year benefit period with 3 years premium paying term
• Option to reduce annual premium in the 2nd & 3rd year subject to minimum of Rs 1,00,000
• Partial withdrawals available after three policy years in case of any financial emergency
• Full liquidity without any penalty after three years

This fund is for the people who are not very comfortable with the volatility in the equity market but yet want to participate in the equity market to earn good returns. As per the company info, the fund will invest in an optimum mix of equities & fixed income instruments. The fund may have upto 100% exposure in both equities & fixed income assets while investment in money market instruments will be capped at 40%. Allocation between debt & equity would be dynamically managed. One thing that any individual who likes to invest in this policy must note – The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his or her decision. For more details on the plan, please visit their website for more details.

{ 49 comments… add one }
  • Shubhang April 8, 2013, 3:53 pm


    I have bought BSLI Platinum Premier policy in Mar 2010, I have paid 1,20,000 so far though my fund value is only 108,000. Should I continue or wait for a leveling of Investment versus Current value. I have been paying premium annually; Changing this to monthly will help?

  • Bhavish Rana August 23, 2012, 11:54 am

    Dear Mohan,
    I have taken Birla sun life platinum advantage plan and i have paid Rs. 36000 but still fund value is showing Rs. 34000, please suggest what should i do? should i stop the paying premium.
    Thanks in advance.

    • Mohan August 23, 2012, 12:24 pm

      Bhavish – look at the fund performance since you started investing and also since the fund inception. Do a comparison with other funds in the market and see how they are doing relative to the fund in which you have invested. Then make a call.

  • Vijay February 21, 2012, 5:22 pm

    I am planning to invest on Platinum plus Birla, is that a good to go option

    Appreciate if someone could share insights

    many thanks


    • Angad June 16, 2012, 11:29 am

      Hi Vijay,

      Before investing to any ULIP please check the hidden cost…. Yesterday I was having a meeting with BSLI Platinum Advantage representative and he only said about the positive feed back which is available in this plan but after going through this blog I am thinking to have a another meeting with same guys to ask about the hidden cost.. So I would suggest you to do same.. :)

  • Prashant February 3, 2012, 1:39 am

    Hi all,
    We are a group of about 20+ investors and don’t only invest our funds but also persuade knowns to invest. Earilier in 2009 we invested in BSL Saral jeevan which didn’t performed well. Is the Platinum Advantage Plan a good option?

  • Jawahar Singh July 24, 2011, 10:16 pm

    I have given a cheque of Rs. 50,000 (on yearly mode) along with application for BSLI Vision Plan on 29th June 2011 for 5 years. Yet I have not received any policy letter from BSLI but zonal office, Bangalore has given me policy number, orally. Can I ask for cancellation of policy after receiving policy bond letter from BSLI. What it means – every ploicy owner has 15 Calendar days to reply for cancellation of the policy.

  • Megha Agarwal July 6, 2011, 2:13 pm

    Hi. I am looking to invest my savings. I am okay with amount being locked in but would like to see good guaranteed returns without any hidden costs. What policy would you advise as the best (with no hidden costs) for guaranteed returns? Also, are those policies taxable or tax free? I am new in this field and very confused with the research so far, so please advise

  • manikandan May 29, 2011, 10:31 am

    i am 25 year old, i am planning to invest Rs-3000/- per month, please share any good plan without hidden charges, good returns & insurance coverage, etc….

  • Uttam Das March 8, 2011, 5:31 pm

    Hi, I am Uttam from Assam,

    planning to go for Birla Sun Life Platinum…..

    Kindly, help me with the return frm it.
    and the pitfalls of it.


  • srinivasu February 15, 2011, 8:54 pm

    dear all,
    I fully agree with, but remember this is our hard earned money.
    I believe reporting the same to the OMBUDUSMAN may help with all necessary documents.
    thanks to mohan for his good support.

  • Dipti February 15, 2011, 12:25 pm

    Birla Sunlife – a bunch of cheats

    We had a ULIP policy with ICICI Bank from past 2 years and I received a call from Birla Sunlife advisor stating that there is an agreement between,
    ICICI Bank and Birla Sun Life and based on that i can redeem my ICICI ULIP policy. All i have to do is to process a cheque amounting to Rs 50, 000 towards Birla Sun Life,
    which they later negotiated to Rs 15, 000

    They also threatened that failing to provide a cheque towards Birla Sun Life would amount to breach of contract with ICICI Bank and we would not receive the complete amount of the ULIP policy.
    The reason mentioned for this was that the IRDA policy has changed on ULIPS and that ICICI Bank would soon be closing the policy. Also, a point they mentioned was we would receive a call from Birla Sun Life once we provide them the cheque whether we want to start a policy with them. Which of course we didn’t receive the call.

    Stating these facts above, I would also like to mention that I didn’t furnish any medical details and the policy has been issued in my name which in itself is a breach of contract.
    Based on such gross mis-selling and fudging of facts I wrote to them for which they very casually replied that the every ploicy owner has 15 Calendar days to reply for cancellation of the policy. That was the end of the matter.

    This means that we have only 15 Calendar days to detect the fraud they are running under the name of Birla Sunlife

    Please do not buy any policy from Birla Sunlife as they are here only cheat people by cooking up some story which scares you and their policy is sold.

    • Alok Aggarwal February 15, 2011, 9:54 pm

      Dear Dipti

      it seems you have been cheated by any selling agent of the company, you just register a complaint with the BSLI and also write the same to the Insurance Ombudsman. its really now of no use to stop this policy if its above 15 days as you have already lost money in ICICI policy early breakin.

      but do all this very fast, and try to find the number from which you received the call.

      Kind Regards
      Alok Aggarwal

  • Sumit January 25, 2011, 11:24 am

    please do not buy any policy from BSLI
    Go for some other mutual fund options like SBI or LIC. or opt any plan by TATA.
    BSLI has highest monthly deductibles charges compared to any other policy provider and low returns. I must say it is better to buy NSC or Fixed deposit in bank than Birla Sun life insurance.

    • Shameem October 2, 2011, 3:22 am

      Your are very correct i invested 5 lacks in birla Individual Life – Platinum Plus Fund II on 2008 now the value is only 4.04 lacks only. 40000rs they take as loading charges.every month they charged 900rs as switching charge. This is not got return plan.

      Please dont invest in this plan. if some one approach you ask them about these charges first.

  • naresh panwar September 15, 2010, 8:00 pm

    Bsli new 6th series of platinum advantage plan is not attractive as compared to previous 5series although 2nd series is giving very good returns approx 40% since inception.now after irda vs sebi tassle ULIP is great investment product for long terms (10/15yrs)..go ahead

  • srinivasu September 11, 2010, 7:05 pm

    dear all .
    wellcome ,thanks for this service,
    policies taken before sept 1 st have more charges than after i st sept.
    now ulips look good due to lower charges.
    coming to point, birla sun life polices are not at all good for policy holders except classic life premiur.
    it is very very safe to take a pure term policy and invest the remaning in good diversified equity mutualfunds only.
    donot waste your time , money and peace of mind in ulips.

  • anand rai September 11, 2010, 12:36 pm

    I had just taken the Birla Sunlife Platinium Premier Plan on 31-08-2010 & from 1-09-2010 all the plans was changed and allocation charges is also lower than before as well right now admin charges is also 20 ruppes per month before its high can anyone suggest me that either i go for free look cancellation or continue my policy I had deposited 15000 thoushand halfyearly;
    Please advise me……

    • arun kothari September 24, 2010, 3:55 pm

      Hi Dear,
      The new Platinum Plan is here, just go with it & than only decide to quit or to continue with your previous one. The plan you had taken is worthy enough & the guy who suggested yoy the plan was fair enough because re-introduction of new Platinum Plan was not guaranteed.
      You had paid 15,000 semi annualy and for me it will be better if you continue with that plan.
      All the best….

  • Shabda May 11, 2010, 3:22 pm

    Is it good to invest in Platinum Plus fund of Birla??

    • anand rai September 11, 2010, 12:38 pm

      No right now its booming time for Mutual Fund.

    • Srinivasu September 11, 2010, 7:06 pm


  • alok aggarwal April 26, 2010, 9:41 pm

    Hi hemant
    ya this is teh major drawback of ulip, they said the higest NAV is guranteed but in ULIP plans the units got detected every month for various charges(many hidden and stupid charges)

    and do not surrender the policy as first of all you wont get your money back before 3 years and a good amount around 40% would be deducted.

    alok aggarwal

    • hemant April 27, 2010, 8:22 pm

      Thank You Alok !!

    • srinivasu September 11, 2010, 6:59 pm

      true, wellsaid !

  • hemant April 25, 2010, 12:34 pm

    Hello Evryone,

    i have taken BSL Platinum Plus 3 policy on 16th May ’09for Quaterly Mode of 15,000 . till now i have submitted 45,000 but i see only 41,000 as the fund Value . Is this the expected behaviour , i mean is this the common story for other plans also.
    Incase i surrender the policy after 1 year i.e on 16th May ’10 .How much i will get as a return.
    Being amateur am not aware of surrender charges and all.
    Thank You!

    • Vinod November 16, 2010, 1:04 am

      Don’t surrender your policy. Go for the all 5 years. In ULIP, they charge very much amount as the allocation charge, but it will be less as year by year. This plan is giving you the assurance to save the next 7 year highest NAV. It means you have to pay only 5 years, but your amount is save upto the 7 years of market high value. Your amount didn’t get effected by the market loss and you will find the growth in your amount after 5 years……..Thanx

  • jayant bhat February 27, 2010, 1:49 am

    i guess you are checking about platinum plus premier. the latest version. I consider that better than wealth plus as in Platinum PP, there is an option to choose between guaranteed NAV and self managed option which i feel is the major difference between the two.

    My take: platinum premier would definitely yield better return than wealth plus provided the policy is continued for full tenure.

  • alok aggarwal February 26, 2010, 9:45 pm

    Hi sir
    please guide which policy is best to be in for long horizon
    is it BSLI Platinum Plus or LIC Wealth Plus

    i’m confused between both, moreover the concept of LIC plan is not clear on their site too.

    alok aggarwal

  • Sandesh M December 14, 2009, 11:36 am

    Is the review on the top copy pasted from the brochure of the plan?
    Not a good analysis
    Please change it

    • Mohan December 14, 2009, 11:44 am

      Sandesh, thanks for your feedback. What is your expectation? I can’t change the features of a plan… can I? So, obviously the root details boils down to what is there is brochure. But the interpretation is what makes it more worthy. I suggest you read it again to know my view on the product.

  • Rohini December 2, 2009, 8:43 am

    Saw an ad by Birla Sunlife today about their ULIP offering the highest NAV on a daily basis over some period. How much different is it from the above?

    • Mohan December 3, 2009, 12:14 pm

      Hi Rohini, I haven’t seen the intrinsic details of the daily NAV plan by Birla Sunlife ULIP yet. Will update once I go through it.

  • Pradeep Gupta November 10, 2009, 9:35 am

    Hi, I work for LIC and I can help you out in getting a right policy as per your needs. I personally never advise advise to invest in any ULIPs as they are very costly and difficult to understand. Though most agents sell ULIPs because they get higher commission on such policies.
    Term Insurance, Jeevan Anand and Money Back policy are some of my favourites.
    I will back each and every policy with proper illustration and reasearch so that it’ll be very easy for you to understand and make up your mind.

  • Shanta November 10, 2009, 6:55 am

    Im looking for an illustrative example of the projected returns after all the deductions. This article only addresses the pros of the plan. It does not fully ascertain all the charges involved.
    Also the article does not compare with any other relative plans offered by other companies

  • srinivasu October 26, 2009, 11:45 am

    stay away from this policy.charges like policy administration,allocation eats your valueble UNITS.
    guarenteed maturity benefit(G M B) is applicable only for those who will stay in the policy upto maturity period..i.e 10 YEARS !!!!!

  • Moncy September 28, 2009, 2:13 pm

    Can anybody have some idea as to how is the company able to provide the higher NAVs when the actual fund value may be lower at the time of maturity.

    Also in case I surrender the plan prior to maturity will I get the highest of the NAV on the reset dates till dates till maturity. Also what will be the surrender charges, fund management charges & the annual charges in this plan.

  • satya August 9, 2009, 10:48 pm

    this plan is nothing but cheating. even most intelligent investers will be cheated through this plan. the highest nav recorded only on 15th of every month can only be taken as guaranteed nav. and the rates are very higher when compared to lic. after all deductions the net units available will be very low as the portofolio of the fund is almost equal to lic`s bond fund. hence it is guaranteed that you will definitely get more less than other ulips available in the market. think wise…………

    • srinivasu October 26, 2009, 11:39 am

      well said!
      true,charges like policy admn. deducts your units on monthly basis.
      platinum plus fund“` 1 is on huge loss.

    • srinivasu November 10, 2009, 9:49 am

      dear all,
      kindly remember ULIP work for those who are long term investors, needs risk cover with additional raiders like accidental,critical illness , WOP, etc….
      yOU MUST also do some home work before closing a deal.
      in my personal experience many many life agents,advisors, sales/unit managers,relationship managers etc… disappear once the deal is made.
      for ex. platnium plus from birla sun life, go to any branch or ask your agent to bring on one POLICY BENEFIT ILLASTRATION showing only 6 and 10% annual returns.policy admn,charges are the highest charges in the life insurance industry!

  • deepakpat July 7, 2009, 11:30 pm

    I feel this reviw is not complete unless we talk about returns on investment.. would like to have break up of how much will go for insuranace and how much will be invested..

  • Mohan June 23, 2009, 9:23 pm

    Term insurance is anytime better than other plans as long as just insurance is the main purpose.

    Well, most of the players in this field always charge you one or the other. I am glad that Birla has made their charges open. That is a welcome move.

    I am not aware of any other hidden charges, better talk to their customer care and get all the details from them before taking up the policy.

  • Raghavendra June 23, 2009, 9:34 am

    Hi, I am planning to invest in this platinum plus plan. Please share if there are any hidden charges and drawbacks if any.

    • Arpana Chapke July 17, 2009, 12:34 pm

      hellow Sir,
      This is Arpana Chapke,I can help u to invest your money in birla’s Platinum Plan.
      < personal info removed >


      • anand rai September 11, 2010, 12:41 pm

        H! this ia anand i want to invest but i am im in confused in ULIP & Mutual Fund can you please help me out

  • vijeth March 30, 2009, 9:33 pm

    but what about the charges it is 13.5% for the 1st year then 7.5% for the rest of the years so the charges are very high whats the use.
    i am talking about platinum plus 2 charges 13.5 1st year and 7.5% for the rest of the years

  • Deepak March 25, 2009, 10:48 am

    I have taken classic life plan from Birla. It has low charges and gives better returns as compared to other companies. So it depends on the plan ur taking and for what purpose. Dreamplan of birla is the cheapest when used as a term insurance among the other existing plans in the market.

    • srinivasu October 26, 2009, 11:35 am

      what you said is very much true.except CLASIC LIFE PREMIER all other ulips from birla sun life insurance are very very harmful to your wallet and mind.
      stay away!
      platinum plus is a pure market gimmick!
      huge policy admn. charges eat your valueble UNITS.

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