Tuesday, November 30, 2010

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:
  1. 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.
  2. Your Policy Term will be your Guaranteed Savings Date + 20 years.
  3. You decide the Basic Premium you want to pay every year.
  4. 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
  5. 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.
  6. 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:
  1. Maturity Benefit: You will receive the Fund Value at maturity.
  2. 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.
  3. 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

  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. 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

Wednesday, November 24, 2010

BSLI Classic Child Plan

BSLI Classic Child Plan -
a plan that secures your child's future, and gives you the freedom to direct your savings to our range of 10 Investment Funds.
This plan offers you:
Joint life cover for you and your child
Flexibility of growing your savings through 10 Investment Funds, as per your risk appetite
Enhanced financial security for your loved ones
How BSLI Classic Child Plan works:
  1. You choose the Savings Date that suits your financial goals for your child.
  2. Your Policy Term will be the Savings Date + 20 years.
  3. You choose the Basic Premium you want to pay every year.
  4. 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
  5. You have an option to choose an Enhanced Sum Assured and increase the financial security for your child's future. With this option you can choose any amount of additional life cover over and above the Basic Sum Assured at a nominal cost.
  6. You have an option to choose from our range of riders and customise your family's future financial security.
Based on your above choices you will receive a host of benefits as below:
  1. Maturity Benefit: You will receive the Fund Value at maturity.
  2. Death Benefit: In case of the unfortunate demise of the primary life insured while the policy is in effect, we will pay to the beneficiary the Basic Sum Assured. The policy will continue as long as the secondary life insured is alive.
    Prior to the 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 Savings Date and pay the Fund Value as on that date
    • In case of the unfortunate demise of the secondary life insured (child), we will terminate the policy on the Savings Date and pay the Fund Value as on that date

    Starting from the 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
  3. 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.
  4. 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 Savings Date, the child becomes the primary life insured and the grand / parent becomes the secondary life insured.
  5. 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. Prior to Savings Date, in situations where the primary life insured (grand / parent) is dead, the secondary life insured (child) can surrender the policy anytime after attaining age 18.
  6. Top-up Premium: If you wish to increase your investment in the policy, you have the freedom to invest additional amounts to your premium as top-up premiums, anytime during the policy term, except in the five years prior to maturity and as long as all due policy premiums have been paid. The minimum top-up premium is Rs. 5,000 and your Basic Sum Assured will be automatically increased. For more details please refer to our brochure.
  7. Guaranteed Additions: Your policy enjoys a boost in form of additional units. For more details on the guaranteed additions, please contact your financial advisors or refer to our brochure.
  8. 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.
  9. Policy Loans: You can also avail loans on your policy.
Self-Managed Option - The flexibility to direct your savings in our range of 10 funds
The Self-Managed Option gives you complete access to invest your premiums in our well established suite of 10 investment funds, ranging from 100% debt to 100% equity. You also enjoy full freedom to switch from one investment fund to another, as per your changing requirements.
Choose from our range of 10 Investment Funds, to suit your risk appetite
Allocate your savings the proportion of your choice
Change your allocations as per your changing requirements
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.

Plan Summary
Entry Age – Grand/Parent

– Child
18 – 65 years, provided age on Savings Date is 75 or less
30 days – 17 years
Savings Date Child’s age 18 – 27, subject to minimum of 10 policy years
Policy Term Savings Date + 20 years
Basic Premium Minimum Rs. 25,000 p.a. if paid annually
Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semi-annually
Pay Term Years to Savings Date
Top-up Premium Minimum Rs. 5,000
Enhanced Sum Assured Minimum Rs. 50,000
Not exceeding Basic Sum Assured

Monday, November 22, 2010

BSLI Rainbow Plan

BSLI Rainbow insurance plan that gives you a guaranteed return on maturity that is tax free and the financial security of a life cover.
How Does the BSLI Rainbow work
  • You choose the single premium amount you want to invest
  • You choose the policy term from options of 5 years and 10 years Your Benefits
Your Benefits
  1. Maturity Benefit: You will receive a guaranteed amount on maturity. Your maturity benefit is equal to
    • Maturity Sum Assured; plus
    • All Guaranteed Monthly Additions earned to date; plus
    • Guaranteed Final Addition
  2. Please ask you financial advisor for the Maturity Amount applicable to you
  3. Death Benefit: In the unfortunate event of death of the life insured, the nominee shall receive the Basic Sum Assured. The Basic Sum Assured is 5 times the single premium amount
  4. Surrender Benefit: In case of emergency fund requirements, you can surrender your policy anytime after 1st policy year and receive
    • 90% of the Maturity Sum Assured; plus
    • Guaranteed Monthly Additions earned to date
  5. Policy Loans: You can also avail loans on your policy.
  6. Tax Benefits: You will also be eligible for tax benefits as per the extant laws.
Earn Guaranteed Monthly Additions and a Guaranteed Final Addition
Guaranteed Monthly Additions
At the end of every month you will earn Guaranteed Monthly Addition. Your Guaranteed Monthly Addition is calculated as:
Guaranteed Monthly Addition Rate x Maturity Sum Assured/1000
Please ask your financial advisor for the Guaranteed Monthly Addition Rates applicable to you.
Guaranteed Final Addition
We reward you for your loyalty with a Guaranteed Final Addition on maturity.
Policy Term Guaranteed Final Addition
5 years 6 Guaranteed Monthly Additions
10 years 12 Guaranteed Monthly Additions
Illustration of Benefits
Entry Age : 30 years
Policy Term : 10 years
Single Premium : Rs. 1,00,000
Basic Sum Assured : Rs. 5,00,000
Maturity Sum Assured : Rs. 92,630
Guaranteed Monthly Addition : Rs. 685
Guaranteed Final Addition< : Rs. 8,226
Maturity Benefit : Rs. 1,83,111
The above are illu strative value for healthy male, assuming Guaranteed Monthly Addition Rate of 7.40 per 1000 Maturity Sum Assured
Plan Summary
Entry Age 8 – 60 years, subject to minimum attained age of 18 at maturity
Policy Term 5 or 10 years
Pay Term Single pay
Single Premium Minimum Rs. 50,000
Basic Sum Assured 5 times Single Premium