BSLI Rainbow, an 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
- 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
- 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
- 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
- Policy Loans: You can also avail loans on your policy.
- 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
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 Guarantee |
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 illustrative 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 |
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Tags: Birla Sun Life Insurance, BSLI Rainbow, Life Insurance