BSLI Dream Child Plan

BSLI Dream Child Plan - a plan that gives you a Guaranteed Savings Amount on the date of your choice to fulfill your child's dreams and a range of options to enhance the financial security of your loved ones.

This plan offers you:

Guaranteed Savings Amount on date of your choice Joint life cover for you and your child Enhanced financial security for your loved ones

How BSLI Dream Child Plan works:

You choose the Guaranteed Savings Date that suits your objectives. Your Guaranteed Savings Date is the policy anniversary when your child's attained age is from 18 to 27 years, subject to a minimum of 10 policy years. Your Policy Term will be your Guaranteed Savings Date + 20 years. You decide the Basic Premium you want to pay every year. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the primary life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by: The higher of 10 or the number of years to maturity divided by 2, for entry ages below 45; or The higher of 7 or the number of years to maturity divided by 4, for entry ages 45 and above You have an option to choose an Enhanced Sum Assured to increase the financial security for your loved ones. With this option you can choose any amount of additional life cover over and above the Basic Sum Assured at a nominal cost. You have an option to choose from our range of riders to further customise the financial security of your loved ones.

Based on your above choices, you will receive a host of benefits as below:

Maturity Benefit: You will receive the Fund Value at maturity. Death Benefit: In case of the unfortunate demise of the primary life insured during the policy term, the beneficiary will receive the Basic Sum Assured. The policy will continue as long as the secondary life insured is alive. Prior to the Guaranteed Savings Date: In case of the unfortunate demise of the primary life insured (grand / parent), we will pay the Basic Sum Assured plus Enhanced Sum Assured, if any and all future Basic Premiums, in monthly installments starting from the next policy month In case of the unfortunate demise of the secondary life insured (child), we will terminate the policy on the Guaranteed Savings Date and pay the Fund Value as on that date In case of the last unfortunate demise of either the primary or secondary life insured, we will terminate the policy and pay the Fund Value plus the commuted value of all future Basic Premiums that are being paid by us Starting from the Guaranteed Savings Date: In case of the unfortunate demise of the primary life insured (child), we will pay the Basic Sum Assured In case of the last unfortunate demise of the primary or secondary life insured, we will terminate the policy and pay the Fund Value Enhanced Sum Assured: Based on your needs you can increase the life cover over and above the Basic Sum Assured by opting for the Enhanced Sum Assured at inception. You can choose any amount of Enhanced Sum Assured, subject to a minimum of Rs. 50,000 and not exceeding Basic Sum Assured. Joint Life Benefit: This is a joint life insurance policy where the grand / parent is the primary life insured and the child is the secondary life insured. On the Guaranteed Savings Date, the child becomes the primary life insured and the grand / parent becomes the secondary life insured. Surrender Benefit: In case of emergency fund requirements, you can surrender your policy after the completion of five policy years, and receive the Fund Value at that time. Guaranteed Additions: Your policy enjoys a boost in the form of additional units. For more details on the guaranteed additions, please contact your financial advisors or refer to our brochure. Partial Withdrawals: You can make unlimited partial withdrawals to meet any financial emergencies any time after (a) five complete policy years or (b) secondary life insured attaining the age of 18, whichever is later. Policy Loans: You can also avail loans on your policy.

Choose from our Rider options to increase the financial security of your loved ones

Critical Illness Rider: On diagnosis of any of the four illnesses - Heart Attack, Cancer, Major Organ Transplant and Stroke, you will receive upto 100% of the Rider Sum Assured.

Accidental Death and Disability Rider: In the event of death due to an accident, your nominee will receive the chosen Rider Sum Assured up to a maximum of Rs.50,00,000. In the event of disability due to an accident you will receive a fixed percentage of the Rider Sum Assured, depending on the type of injury.

Hospital Care Rider: In the event that you are hospitalised for treatment, you will receive Daily Cash Benefit to take care of your expenses. In case you are treated in an Intensive Care Unit you will receive an Enhanced Daily Cash Benefit. To help you cover your recuperation expenses, you will be paid a lump sum amount, in case you are hospitalised for more than seven days for the same disease.

Surgical Care Rider: In case you are hospitalised to undergo a surgery you will be paid a lump sum amount to cover your expenses.

Entry Age - Grand/Parent- Child 18 - 65 years, provided age on Guaranteed Savings Date is 75 or less 30 days - 17 years Guaranteed Savings Date Child's age 18 - 27, subject to minimum of 10 policy years Policy Term Guaranteed Savings Date + 20 years Basic Premium Minimum Rs. 12,000 p.a. if paid annually Minimum Rs. 15,000 p.a. if paid semi-annually Minimum Rs. 20,000 p.a. if paid quarterly Minimum Rs. 24,000 p.a. if paid monthly Pay Term Years to Guaranteed Savings Date Enhanced Sum Assured Minimum Rs. 50,000 Not exceeding Basic Sum Assured