Saturday, January 8, 2011

BSLI Vision Plan

BSLI Vision

You have always wanted a plan that enables you to meet your financial goals and also gives you financial security over your entire lifetime. Presenting BSLI Vision - a plan that gives you a lump sum payout on the date of your choice and a life cover up to the age of 100 years. What’s more, you only pay premiums for a limited number of years while you enjoy your life cover up to the age of 100 years.
This plan offers you:
  • Payout on the date of your choice
  • Whole Life Cover
  • Options to enhance your protection
How BSLI Vision plan works:
  1. You choose the Sum Assured which is the amount of life insurance cover up to the age of 100 years.
  2. You choose a Guaranteed Survival Benefit (GSB) Term based on the number of years after which you would like to receive your payout. This term is also the accumulation phase of your plan, i.e. the number years for which you would have to pay premiums.
  3. You choose from our range of riders, to enhance the financial security of your family.
Based on your above choices, you will receive a host of benefits as below:

  1. Guaranteed Survival benefit
    At the end of the GSB Term, you will receive a fixed payout known as the Guaranteed Survival Benefit.
    Along with the Guaranteed Survival Benefit, you will receive Monthly Additions and Enhancement to monthly additions. Please read further to know more about Monthly Additions.
  2. Guaranteed Death Benefit
    In the unfortunate event of the death of the life insured during the policy term, the nominee will receive the Sum Assured as the Death Benefit.
  3. Guaranteed Maturity Benefit
    In the event that the life insured survives to the end of the policy term, you will receive the Sum Assured as the Guaranteed Maturity Benefit.
  4. Monthly Additions
    At the beginning of each policy year, your policy will be assigned the latest Monthly Addition Rate declared by us, provided all due premiums have been paid in full. Once this Monthly Addition Rate is assigned to your policy, it will be guaranteed for the next 12 months, and used to calculate your Monthly Additions during the upcoming policy year. We will be declaring new Monthly Addition Rates on April 1st of every calendar year. Please ask you financial advisor for the Monthly Addition Rate currently applicable on your policy. The currently declared Monthly Addition Rates are as follows (annual rate per 1000 of Sum Assured):

    GSB Term 5 to 10 Years 11 to 15 Years 16 to 20 Years 21+ Years
    Currently Declared 39.0 39.0 41.4 45.0

  5. Enhancements to Monthly Additions

    If your GSB term is more than 21 years and if Monthly Additions have been accrued for more than 21 policy years, the accrued Monthly Additions payable as a Death Benefit or a Survival Benefit shall be enhanced by the following percentage:

    Sum Assured Band Band 1 Band 2 Band 3 Band 4
    Sum Assured (Rs.) 100,000 to 199,999 200,000 to 399,999 400,000 to 799,999 800,000 +
    For Each Policy Year Exceeding 21 2.50% 5.00% 6.25% 6.75%

    Benefits of Monthly Additions
    Monthly Additions enhance your Survival Benefit and Death Benefit.
    At the end of the GSB term, you receive a Survival benefit, which includes the Guaranteed Survival benefit; plus Monthly Additions accrued till date; plus Enhancements to Monthly Additions, if any.
    In the unfortunate event of the death of the life insured during the GSB term, the nominee will receive the Death Benefit which includes the Guaranteed Death Benefit; plus Monthly Additions accrued till date; plus Enhancements to Monthly Additions, if any.
  6. Policy Loans
    You can also avail of loans on your policy once it has acquired a Surrender Value. The minimum loan amount is Rs.5,000 and the maximum is 90% of your policy’s Surrender Value.
Choose from the following Rider options to enhance your financial security
BSLI Accidental Death and Disability Rider (UIN: 109C018V01)
BSLI Critical Illness Rider (UIN: 109C019V01)
BSLI Surgical Care Rider (UIN: 109C015V01)
BSLI Hospital Care Rider (UIN: 109C016V01)
BSLI Waiver of Premium Rider (UIN: 109C017V01)

For details on the above riders, please contact your financial advisor.

Plan Summary
Entry Age (age last birthday) : 1 to 65 years
Policy Term : Whole Life to Age 100
Minimum Sum Assured : Rs. 1,00,000
GSB Term : 5 to 35 years
Minimum GSB Term : Attained Age at GSB Term is 18 years or more
Maximum GSB Term : Attained Age at GSB Term is 75 years or less
Premium Paying Term : Regular Pay during the GSB Term

9 comments:

  1. Nice plan Friend. Company people explained to me that if I buy policy today 1st july 2011 than my premium for 2 lakh insurance will be 19200/-per year up to 5 premiums for 5 years N my maturity amount will be 1,70,000/- and insurance of 2 lakh for whole life. Is these facts are OK.
    Regards
    VEER 09414376084Nice plan Friend. Company people explained to me that if I buy policy today 1st july 2011 than my premium for 2 lakh insurance will be 19200/-per year up to 5 premiums for 5 years N my maturity amount will be 1,70,000/- and insurance of 2 lakh for whole life. Is these facts are OK.
    Regards
    VEER 09414376084

    ReplyDelete
  2. ask them to give it in writing , generally they say you will receive documents in which it would be mentioned. dont rely on fake commitments because no company can give more than 9.5% per anum on you paid amount otherwise banks will fail and everybody will start investing in such policies. they only can give projections but not garranty to give just double your money in 5 years that to by giving you life insurance. dont fall pray to such commitment read there policy in which they have clearly mentioned that they will give 3.5% per annum on you amount and with such return you wont get 170000.

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  3. what is the permium for age 59yrs for Rs 500000 insurance, and is additional amount for riders like 1. double acc. 2. critical illness 3. hospital care and what is the cover same as mediclaim , what about pre existing dieseases cover from what period. In case of surrender what is paid after after 2yrs of premiun paid, your office Mr rathod said that on surrender you will pay Rs 100000 plus Rs 39000 is this true pl send me in writing and policy condition to now the facts .

    ReplyDelete
  4. facts and figures of the sale team do not know of the plan they take you for ride be aware,

    ReplyDelete
  5. Today, I got a call from BSLI for Vision Plan, And I already having 3 ULIP policies from BSLI which were laps due to some reason, Now they are saying that those policies can also be merged with the new one and premium amount would be Minimum Rs. 25,000 Annual. And the earlier policy's amount will be adjust in the last of 2 years from the 5 years of Locking period.
    Should I go with BSLI Vision Plan or not.

    ReplyDelete
  6. They have some good policy plans and shown some kind of life insurance benefits in their plans.

    ReplyDelete
  7. sir if my premium is 10000 p.m what is my sum assured and gsb

    ReplyDelete
    Replies
    1. GSB Term: if 5 years only
      it is your Monthly Premium Rs. 10,513/-
      Sum Assured : Rs. 5,00,000/-
      Guaranteed Survival Benefit : Rs. 5,31,500/-

      GSB Term: If u choose 10 years
      it is your Monthly Premium Rs. Rs. 10,224/-
      Sum Assured : Rs. 10,00,000/-
      Guaranteed Survival Benefit : Rs. 11,22,000/-

      if you intrested to buy this plan please contact Birla Sun Life Insurance Advisor
      Mr. S. Niyamathullah Phone: 9841358498

      Delete