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.
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
1 year |
60 years |
|
Maturity Age (Last Birthday) |
- |
100 |
|
Policy Term (PT) in years |
100– Entry Age |
|
|
Premium Paying Term (PPT) in years |
15 |
40 |
|
Premium Paying Frequency |
Annual, Half-yearly, quarterly, monthly |
|
|
Yearly Premium |
18,000 |
No limit |
|
Sum Assured |
200,000 |
No limit |
Annual premium in Rupees for a male aged 35 years with PPT 15 years and SA = 250,000
|
Premium |
20,954 |
|
|
Guaranteed Survival Benefit from 16th to 64th year |
12,500 |
|
|
|
Benefit @ 4% |
Benefit @ 8% |
|
Survival Benefit in the 15th yr. |
5625 |
161,250 |
|
Survival Benefit from 16th -64th yr. |
12,875 |
23,250 |
|
Survival benefit on maturity |
342,907 |
353,282 |
|
Death benefit |
330,407 |
340,782 |
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.
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.
