BSLI Vision Money Back Plus Plan is a traditional Money Back Plan providing regular payouts to meet liquidity requirements and also life insurance coverage for security purposes.
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
13 years |
45 years |
|
Maturity Age (Last Birthday) |
- |
75 years |
|
Policy Term (PT) in years |
20, 24 or 25 |
|
|
Premium Paying Term (PPT) in years |
10 or 12 |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Premium |
Depends on SA, age, term and PPT |
|
|
Sum Assured |
100,000 |
No limit |
Annual premium in Rupees for a 35 year old male with a term of 20 years and PPT of 10 years
|
Premium |
26,225 |
|
Sum Assured |
250,000 |
|
Survival Benefit at the end of 5th year |
37,500 |
|
Survival Benefit at the end of 10th year |
50,000 |
|
Survival Benefit at the end of 15th year |
62,500 |
|
Survival Benefit at the end of 20th year |
100,000 |
|
Maturity Benefit @ 4% |
50,000 |
|
Maturity Benefit @ 8% |
225,000 |
Grace Period: 30 days’ grace period is allowed for premium payment in all modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 3 full years’ premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = (GSV % of Premiums paid + GSV% of vested Bonuses) – Survival Benefits already received or deferred
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.
