Birla Sunlife Insurance, has launched a new insurance product christened Platinum Plus, which offers Guaranteed Maturity Unit Price to its policy holders.

According to the company, Birla Sun Life Insurance Platinum Plus is a short pay, medium-term unit linked insurance plan, which aims to reduce the investment risk and optimize the returns.

The main objective of Platinum Plus Fund I is to optimize the participation in an actively managed well-diversified equity portfolio of fundamentally strong blue chip companies while using the debt instruments and derivatives to lock-in capital appreciations.

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%.

The plan also offers Guaranteed Maturity Unit Price, first of its kind in the Indian insurance industry.

Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and the Sun Life Financial Services of Canada. It started operations in March 2001 after receiving its registration license from IRDA in January 2001.