BSLI Vision LifeSecure Plan

BSLI Vision LifeSecure Plan is a traditional Whole Life Plan covering the individual till 100 years of age thereby providing an exhaustive cover to ensure future security

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  • 4.8~ Rated
  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

Investment Plans

  • Guaranteed Tax Savings^Under sec 80C & 10(10D)
  • Under sec 80C & 10(10D)Invest ₹10k Per Month*
  • Zero LTCG Tax^
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rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

  • This plan is a participating traditional Whole life plan with regular premium payment term
  • The individual is covered up to age 100 years while the term ends before that
  • Reversionary bonuses including Interim Bonus and Terminal Bonus enhance the corpus

Benefits

  • On death during the term, Guaranteed Death Benefit + accrued Reversionary Bonuses + Terminal Bonus, if any is paid to the nominee
  • On death after the term and before attaining 100 years, Guaranteed Death Benefit is paid
  • Guaranteed Death Benefit is higher of the Sum Assured or 10 times the annual premium
  • On maturity, the basic Sum Assured + vested Reversionary Bonuses + Terminal Bonus, if any is paid and the policy continues till age 100
  • Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively

People also read: ABSLI Nifty Midcap 150 Momentum 50 Index Fund NFO

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

1 year

60 years

Maturity Age (Last Birthday)

-

100

Policy Term (PT) in years

15

35

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual, Half-yearly, quarterly, monthly

Yearly Premium

12,000

No limit

Sum Assured

200,000

No limit


Details About Premium

Annual premium in Rupees for a male aged 35 years with PPT and term of 25 years and SA = 500,000

Premium

25,094

 

Guaranteed Death & Maturity Benefit at the end of term

500,000

 

Guaranteed Death/Maturity benefit at age 100

500,000

 

 

Benefit @ 4%

Benefit @ 8%

Bonus at the end of term

87,500

725,000

Death & Maturity Benefit at the end of term

587,500

12,25,000

Death /Maturity Benefit till age 100

658,715

658,715

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) – maturity benefit 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 and for ECS mode of payment a flat rate of 3% rebate is allowed irrespective of the mode chosen
  • 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.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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