Saturday, August 7, 2010

BSLI Bachat (Money Back) Plan

A plan that grows your savings and gives you money back at regular intervals.
Bachat (Money back) Plan - A step-by-step savings plan
BSLI Bachat (Money back) Plan secures your family's future by not just growing your regular savings, but by providing you money at regular intervals as well. You also get the security of a life cover through the tenure of the policy.
  • Grow your regular savings
  • Receive survival benefits at regular intervals
  • Safety and liquidity of savings
  • Life cover to secure your family’s future
How BSLI Bachat (Moneyback) Plan secures your family’s future vis-à-vis other investment avenues:
Safety Small Savings Liquidity Survival Benefits at regular intervals Life Cover
Bank Fixed Deposits Yes Yes Yes Yes No
Public Provident Fund Yes Yes Yes No No
Post Office Time Deposits Yes Yes No No No
National Savings Certificates Yes Yes No No No
BSLI Bachat (Moneyback) Plan Yes Yes Yes Yes Yes
Bachat (Moneyback) Plan is a regular savings plan that provides you regular payouts and a lump sum, along with life protection
How Bachat (Moneyback) Plan works:
You choose your Monthly Base Premium amount that belongs to one of the following bands:
  • Band 1: Rs. 400 - Rs. 599 per month
  • Band 2: Rs. 600 - Rs. 899 per month
  • Band 3: Rs. 900 and above per month
Once you have chosen your premium amount, you receive a series of benefits as follows:
  1. You will get a life cover for the financial security of your family.
  2. You stand to receive premium rebates for choosing annual and semi-annual mode of payment. You get a rebate of 4% if you choose to pay annually, and 2% for semi-annually.
  3. You will receive a regular payout equal to 20% of Monthly Base Premiums paid, on the 5 , 10 and 15 policy anniversary.
  4. On maturity, you will receive a lump sum which you can use to fulfill your dreams and goals.
  5. You have the advantage of liquidity on your savings to access your money any time you need it after three policy years.
  6. You have the option of double life cover in case of accidental death, for a nominal additional premium, to ensure enhanced financial security of your family.
What are the benefits of BSLI Bachat (Moneyback) Plan?
  1. Survival Benefit : You will receive 20% of Monthly Base Premiums paid, on the 5 , 10 and 15 policy anniversary.
  2. Maturity Benefit : On maturity after 20 years, you will receive All Monthly Base Premiums paid + All Bachat Additions earned + Loyalty Addition - All Survival Benefits paid.
  3. Death Benefit : In the event of an untimely demise of the life insured, the nominee shall receive All Monthly Base Premiums paid (or Sum Assured, if higher) + All Bachat Additions earned + Loyalty Addition - All Survival Benefits paid.
  4. Your surrender benefits include All Monthly Base Premiums paid from the second year onwards multiplied by the surrender factor th th (following table) + After 10 policy year, all Bachat Additions earned + After the 15 policy year, Loyalty Addition earned (less all Survival
    Benefits paid).
The surrender factor is 100% after completing 10 policy years. However before 10 years are over, you will receive the following:
Policy Year of Surrender 3 4 5 6 7 8 9 10+
Surrender Factor 30% 40% 50% 60% 70% 80% 90% 100%
Accidental Death Benefit - Optional Rider for Entry Ages 18 to 50
For an extra 1.2% of MBP, additional Sum Assured is paid in case of accidental death.
  • Extra 180 x MBP payable in case death is accidental for entry ages 18 to 40
  • Extra 120 x MBP payable in case death is accidental for entry ages 41 to 50
Policy Base Premium Survival Bachat Addition Loyalty Total Additions Payable on
Year Annual Paid Benefit Earned Payable Addition >Death Surrender
[a] [b] [c] [d] [e] [f] >[g] [h]
1 6,000 6,000 0 300 300 1 >301 ---
2 6,000 12,000 0 600 900 7 >907 ---
3 6,000 18,000 0 900 1,800 27 >1,827 ---
4 6,000 24,000 0 1,200 3,000 75 >3,075 ---
5 6,000 30,000 6,000 1,200 4,200 147 >4,347 ---
6 6,000 36,000 0 1,500 5,700 271 >5,971 ---
7 6,000 42,000 0 1,800 7,500 469 >7,969 ---
8 6,000 48,000 0 2,100 9,600 768 >10,368 ---
9 6,000 54,000 0 2,400 12,000 1200 >13,200 ---
10 6,000 60,000 12,000 2,100 14,100 1657 >15,757 14,100
11 6,000 66,000 0 2,400 16,500 2269 >18,769 16,500
12 6,000 72,000 0 2,700 19,200 3072 >22,272 19,200
13 6,000 78,000 0 3,000 22,200 4107 >26,307 22,200
14 6,000 84,000 0 3,300 25,500 5419 >30,919 25,500
15 6,000 90,000 18,000 2,700 28,200 6627 >34,827 34,827
16 6,000 96,000 0 3,000 31,200 8112 >39,312 39,312
17 6,000 102,000 0 3,300 34,500 9919 >44,419 44,419
18 6,000 108,000 0 3,600 38,100 12097 >50,197 50,197
19 6,000 114,000 0 3,900 42,000 14700 >56,700 56,700
20 6,000 120,000 0 4,200 46,200 17787 >63,987 63,987
All Entry Ages Entry Age 13 to 40 Entry Age 41 to 50 Entry Age 51 to 60
Policy Surrender Benefit Death Benefit Death Benefit Death Benefit
Year Gtd Total Gtd Total Gtd Total Gtd Total
[i] [i] [k] [l] [k] [l] [k] [l]
1 --- --- 90,000 90,301 60,000 60,301 30,000 30,301
2 --- --- 90,000 90,907 60,000 60,907 30,000 30,907
3 3,600 3,600 90,000 91,827 60,000 61,827 30,000 31,827
4 7,200 7,200 90,000 93,075 60,000 63,075 30,000 33,075
5 6,000 6,000 84,000 88,347 54,000 58,347 24,000 28,347
6 12,000 12,000 84,000 89,971 54,000 59,971 30,000 35,971
7 19,200 19,200 84,000 91,969 54,000 61,969 36,000 43,969
8 27,600 27,600 84,000 94,368 54,000 64,368 42,000 52,368
9 37,200 37,200 84,000 97,200 54,000 67,200 48,000 61,200
10 36,000 50,100 72,000 87,757 42,000 57,757 42,000 57,757
11 42,000 58,500 72,000 90,769 48,000 66,769 48,000 66,769
12 48,000 67,200 72,000 94,272 54,000 76,272 54,000 76,272
13 54,000 76,200 72,000 98,307 60,000 86,307 60,000 86,307
14 60,000 85,500 72,000 102,919 66,000 96,919 66,000 96,919
15 48,000 82,827 54,000 88,827 54,000 88,827 54,000 88,827
16 54,000 93,312 60,000 99,312 60,000 99,312 60,000 99,312
17 60,000 104,419 66,000 110,419 66,000 110,419 66,000 110,419
18 66,000 116,197 72,000 122,197 72,000 122,197 72,000 122,197
19 72,000 128,700 78,000 134,700 78,000 134,700 78,000 134,700
20 84,000 147,987 84,000 147,987 84,000 147,987 84,000 147,987

Notes:
[a] = MBP x 12.
[b] = MBPs paid to date or sum of [a] to date.
[c] = 20% of [b], paid on the 5th, 10th and 15th policy year.
[d] = ([b] - sum of [c] paid to date) x Bachat Addition Rate of 5.00%.
[e] = Bachat Additions earned to date or sum of [d] to date.
[f] = [e] x Ratio of [e] over 240 x MBP.
[g] = [e] + [f].
[h] = [e] after 10 years + [f] after 15 years.
[i] = (Surrender Factor x [b] less MBPs paid in first year) - sum of [c] paid to date. 100% x [b] - sum of [c] paid to date in 20th policy year.
[j] = [i] + [h].
[k] = [b] or 180 x MBP for entry ages 13 to 40 - sum of [c] paid to date = [b] or 120 x MBP for entry ages 41 to 50 - sum of [c] paid to date = [b] or 60 x MBP for entry ages 51 to 60 - sum of [c] paid to date.
[l] = [k] + [g]

Plan Summary
Age at Entry 13 - 60 years
Policy Term 20 years
Premium Pay Term 20 years
Monthly Base Premium Rs. 400 - Rs. 5,000
Sum Assured Up to 180 times Monthly Base Premium
Premium Payment Frequency Monthly, Quarterly, Semi-annual and Annual
Entry Age 13 to 40 41 to 50 51 to 60
Sum Assured 180 x MBP 120 x MBP 60 x MBP
Now you can build a corpus through regular systematic savings, and also receive regular payouts to meet your financial requirements at various stages in life. With BSLI Bachat (Moneyback) Plan, safeguard your family's dreams and aspirations by saving as little as Rs. 400 per month.
Surrender Benefit details:
Assuming that premiums are paid annually, and earn 4% rebate, here are the surrender benefits under different premium bands.
Band I II III
MBP Range (in Rs.) 400 to 599 600 to 899 900 +
Bachat Addition Rate 5.00% 5.25% 5.50%
MBP chosen by you 500 750 1,000
MBP x 12 6,000 9,000 12,000
Annual Premium paid by you 5,760 8,640 11,520
Total Survival Benefit
After 10 years 18,000 27,000 36,000
After 15 years 36,000 54,000 72,000
After 20 years 36,000 54,000 72,000
Surrender Benefit
After 10 years 50,100 76,208 103,020
After 15 years 82,827 127,374 174,077
After 20 years 147,987 228,180 312,685
Surrender Benefit plus Total Survival Benefit / Total Premiums Paid
After 10 years 118% 119% 121%
After 15 years 138% 140% 142%
After 20 years 160% 163% 167%
Equivalent Bachat Addition Rate
After 10 years 3.91% 4.17% 4.43%
After 15 years 6.06% 6.45% 6.85%
After 20 years 7.87% 8.35% 8.83%

Friday, August 6, 2010

BSLI Bachat (Child) Plan

BSLI Bachat (Child) Plan - a plan that secures your child's future even in the event of an untimely demise of the life insured.
BSLI Bachat (Child) Plan - A step-by-step savings plan
Bachat (Child) Plan secures your child's future by helping you build funds through regular savings. In the event of an untimely demise of the life insured, BSLI will pay all remaining premiums so that your policy continues. Also, your savings will continue to grow through the term of the policy.
  • Grow your regular savings
  • Policy continuance
  • Safety and liquidity
  • Tax savings
How BSLI Bachat (Child) Plan secures your child's future vis-à-vis other investment avenues:
It is very important to choose an investment option suited to your requirements. At BSLI, we understand that it could be difficult for you to pick out an investment avenue that's optimum for you. Here's presenting a simple comparison and evaluation for your convenience.
Safety Small Savings Liquidity Life Cover
Bank Fixed Deposits Yes Yes Yes No
Public Provident Fund Yes Yes No No
Post Office Time Deposits Yes Yes No No
National Savings Certificates Yes Yes No No
BSLI Bachat (Child) Plan Yes Yes Yes Yes
BSLI Bachat (Child) Plan is a regular savings plan that helps you secure your child's future under all circumstances
How BSLI Bachat (Child) Plan works:
You choose your Monthly Base Premium amount that belongs to one of the following bands:
Band I II III
For policies with MBP (in Rs.) 400 to 599 600 to 899 900 +
Bachat Addition Rate 5.00% 5.25% 5.50%
In addition, you pay a Policy Continuation Premium to ensure continuation of the policy till maturity in case of death of the life insured during the policy term.
Policy Continuation Premium (fixed additional premium)
Entry Age 13 to 40 41 to 50
Sum Assured 180 x MBP 120 x MBP
Once you have chosen your premium amount, you receive a series of benefits as follows:
  1. You will get a life cover for the financial security of your family.
  2. You stand to receive premium rebates for choosing annual and semi-annual mode of payment. You get a rebate of 4% if you choose
    to pay annually, and 2% for semi-annually.
  3. Your policy continues till maturity, as you planned to secure your child’s future in case of an untimely demise.
  4. On maturity, you will receive a lump sum which you can use to fulfill your child’s dreams and goals.
  5. You have the advantage of liquidity on your savings to access your money any time you need it after three policy years.
  6. You have the option of double life cover in case of accidental death, for a nominal additional premium, to ensure enhanced financial
    security of your family
What are the benefits of BSLI Bachat (Child) Plan?
Maturity Benefit - On maturity after 20 years, you will receive
  • All Monthly Base Premiums paid; plus
  • All Bachat Additions earned; plus
  • The Loyalty Addition; less
Death Benefit - In the unfortunate event of death of the life insured, the nominee shall receive
  • Sum Assured will be paid to the nominee immediately;
  • Future premiums will be waived and the policy continues until maturity. On maturity, your child will be entitled to maturity benefits. This ensures that even in your absence your child's future is assured;
  • All Bachat Additions and Loyalty Addition will continue as if all MBPs are paid when due.
Surrender Benefit -Once 36 MBPs have been paid, you may surrender your policy and receive
  • All Monthly Base Premiums paid from the 2nd year onwards x the surrender factor below; plus
  • After the 10th policy year, all Bachat Additions earned; plus
  • After the 15th policy year, the Loyalty Addition earned
The surrender factor is 100% after completing 10 policy years, otherwise it is
Policy Year of Surrender 3 4 5 6 7 8 9 10+
Surrender Factor 30% 40% 50% 60% 70% 80% 90% 100%
Accidental Death Benefit - Optional Rider for Entry Ages 18 to 50
For an extra 1.2% of MBP additional Sum Assured is paid in case of accidental death.
  • Extra 180 x MBP payable in case death is accidental for entry ages 18 to 40.
  • Extra 120 x MBP payable in case death is accidental for entry ages 41 to 50.
Policy Base Premium Bachat Addition Loyalty Total Addition Surrender Benefit
Year Annual Paid Earned Payable Addition payable on
Surrender
Gtd Total
[a] [b] [c] [d] [e] [f] [g] [h]
1 6,000 6,000 300 --- --- --- --- ---
2 6,000 12,000 600 --- --- --- --- ---
3 6,000 18,000 900 --- --- --- 3,600 3,600
4 6,000 24,000 1,200 --- --- --- 7,200 7,200
5 6,000 30,000 1,500 --- --- --- 12,000 12,000
6 6,000 36,000 1,800 --- --- --- 18,000 18,000
7 6,000 42,000 2,100 --- --- --- 25,200 25,200
8 6,000 48,000 2,400 --- --- --- 33,600 33,600
9 6,000 54,000 2,700 --- --- --- 43,200 43,200
10 6,000 60,000 3,000 16,500 -- 16,500 54,000 70,500
11 6,000 66,000 3,300 19,800 --- 19,800 60,000 79,800
12 6,000 72,000 3,600 23,400 --- 23,400 66,000 89,400
13 6,000 78,000 3,900 27,300 --- 27,300 72,000 99,300
14 6,000 84,000 4,200 31,500 --- 31,500 78,000 109,500
15 6,000 90,000 4,500 36,000 10,800 46,800 84,000 130,800
16 6,000 96,000 4,800 40,800 13,872 54,672 90,000 144,672
17 6,000 102,000 5,100 45,900 17,557 63,457 96,000 159,457
18 6,000 108,000 5,400 51,300 21,931 73,231 102,000 175,231
19 6,000 114,000 5,700 57,000 27,075 84,075 108,000 192,075
20 6,000 120,000 6,000 63,000 33,075 96,075 120,000 216,075
Notes :
[a] = MBP x 12.
[b] = MBP's paid to date or sum of [a] to date.
[c] = [b] x Bachat Addition Rate of 5.00%.
[d] = After 10 years, sum of
[c] to date.
[e] = After 15 years, [d] x ratio of [d] over 240 x MBP.
[f] = [d] + [e].
[g] = Surrender Factor x [b] less MBP's paid in first year. 100% x [b] in 20th policy year.
[h] = [g] + [f]
Plan Summary
Entry Age - Grand / Parent - Child 18 - 50 years - 17 years
Policy Term 20 years
Premium Pay Term 20 years
Monthly Base Premium Rs. 400 - Rs. 3,000
Sum Assured Up to 180 times Monthly Base Premium
Premium Payment Frequency Annual, Semi-annual, Quarterly and Monthly
Entry Age 13 to 40 41 to 50
Sum Assured 180 x MBP 120 x MBP
With BSLI Bachat (Child) Plan, by saving as little as Rs. 400 per month. you can build a corpus through regular systematic savings and secure your child's future under all circumstances
Surrender Benefit details:
Assuming that premiums are paid annually, and earn 4% rebate, here are the surrender benefits under different premium bands.
Band I II III
MBP Range (in Rs.) 400 to 599 600 to 899 900 +
Bachat Addition Rate 5.00% 5.25% 5.50%
MBP chosen by you 500 750 1,000
MBP x 12 6,000 9,000 12,000
Surrender Benefit
After 10 years 70,500 106,988 144,300
After 15 years 130,800 200,561 273,336
After 20 years 216,075 333,923 458,642
Entry Age (years) 18-40 41-50 18-40 41-50 18-40 41-50
Annual Premium paid by you 5,990 6,336 8986 9,504 11,981 12,672
Surrender Benefit / Total Premiums Paid
After 10 years 118% 111% 119% 113% 120% 114%
After 15 years 146% 138% 149% 141% 152% 144%
After 20 years 180% 171% 186% 176% 191% 181%
Equivalent Bachat Addition Rate
After 10 years 3.22% 2.05% 3.47% 2.29% 3.72% 2.52%
After 15 years 5.70% 4.70% 6.10% 5.09% 6.51% 5.48%
After 20 years 7.65% 6.72% 8.17% 7.21% 8.71% 7.71%