BSLI Vision LifeIncome Plan
BSLI Vision LifeIncome Plan is a traditional Whole Life Plan covering the individual till 100 years of age. The plan also provides regular income post the premium paying term till maturity or death thereby combining protection and income needs.
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Save Upto ₹46,800 in tax under Sec 80C
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Inbuilt Life Cover
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Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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Home
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Investment Plan
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Birla Sun Life Investment Plans
- BSLI Vision Lifeincome Plan
Key Features
- This plan is a participating traditional Whole life plan with limited premium payment term
- The individual is covered up to age 100 years
- Regular Income starts after the PPT and also includes bonus of that year
Benefits
- After the completion of PPT, Accrued bonuses are paid
- For every year post PPT, 5% of the Sum Assured + bonus for that year is paid as Income Benefit
- On death during the PPT, Sum Assured + accrued Reversionary Bonuses + Terminal Bonus, if any is paid to the nominee
- On death after the PPT, Sum Assured + bonus of that year + Terminal Bonus, if any is paid to the nominee
- On maturity, the basic Sum Assured + Terminal Bonus, if any is paid
- Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively
Product Specification:
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
1 year |
60 years |
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Maturity Age (Last Birthday) |
- |
100 |
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Policy Term (PT) in years |
100– Entry Age |
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Premium Paying Term (PPT) in years |
15 |
40 |
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Premium Paying Frequency |
Annual, Half-yearly, quarterly, monthly |
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Yearly Premium |
18,000 |
No limit |
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Sum Assured |
200,000 |
No limit |
Details About Premium
Annual premium in Rupees for a male aged 35 years with PPT 15 years and SA = 250,000
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Premium |
20,954 |
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Guaranteed Survival Benefit from 16th to 64th year |
12,500 |
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Benefit @ 4% |
Benefit @ 8% |
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Survival Benefit in the 15th yr. |
5625 |
161,250 |
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Survival Benefit from 16th -64th yr. |
12,875 |
23,250 |
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Survival benefit on maturity |
342,907 |
353,282 |
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Death benefit |
330,407 |
340,782 |
Policy Details
Grace Period: 15 days’ grace period is allowed for premium payment in monthly modes and 30 days in other modes
Policy Termination or Surrender Benefit: the policy can be surrendered anytime if three full years’ premium has been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV)
GSV = (% of all Premiums paid + % of accrued bonuses) – survival benefits already paid
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Inclusions
- The policy provides loan facility of up to 85% of the Surrender value subject to a minimum of Rs.5000
Additional Features or Riders
- Rebate in premium for payment in annual and half-yearly mode @ 3% and 1.5% respectively
- Rebates for choosing high Sum Assured is also allowed
- The following Riders are available:
- BSLI Accidental Death and Disability Rider
- BSLI Critical Illness Rider
- BSLI Surgical Care Rider
- BSLI Hospital Care Rider
- BSLI Waiver of Premium Rider
Exclusions
- In case of suicide within 12 months from inception or revival, premiums paid or the Surrender Value is payable
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
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