BSLI Future Guard Plan

BSLI Future Guard Plan is a traditional non-participating term plan with return of premium which takes care of the policyholder’s family in the unfortunate death of the policyholder and also provides guaranteed maturity benefits after the end of the policy term

Key Features

  • It is a traditional non-participating plan regular premium payment option
  • There are 2 plan option of Plan A and Plan B where 100% of the premiums paid are returned under Plan A and 110% to 150% of premiums returned is paid under Plan B depending on the term chosen


  • On Maturity the Guaranteed Sum Assured on Maturity is payable which is equal to basic SA including accrued Guaranteed Additions @ 7% and vested Simple Reversionary Bonuses
  • On death, the nominee gets the SA on death
  • Sum Assured on death is the higher of :
    • Basic SA or Maturity SA
    • 10 times the annual premium
    • 105% of all premiums paid till death
    • Income tax benefit on the premium paid as per Section 80C and on the claim received as per Section 10(10D) of the Income Tax Act.

Product Specification:




Entry Age (Last Birthday)

18 years

65 years

Maturity Age (Last Birthday)

18 years

75 years

Policy Term (PT) in years



Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

Depends on SA, age, term

Sum Assured


No limit


Details About Premium

Annual premium in Rupees for 30 year old male and female with SA 7.5 Lakhs

Term / Plan Type



10 years

15 years

20 years

10 years

15 years

20 years

Plan A







Plan B







Policy Details

  • Grace Period: 30 days grace period is allowed for payment of premium. If policyholder fails to make payment within the grace period, the policy lapses
  • Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the plan after 3 full years’ premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
  • 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.


  • Loans are not available

Additional Features or Riders

  • Female policyholders are charged lower rates
  • The plan provides 5 riders to aid customization. They are:
    • BSLI Accidental Death & Disability Rider
    • BSLI Critical Illness Rider
    • BSLI Surgical Care Rider
    • BSLI Hospital Care Rider
    • BSLI Waiver of Premium Rider


  • If suicide is committed within 12 months of policy commencement or revival, higher of total premiums paid or acquired Surrender Value is refunded

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and required KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

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