BSLI Vision Life Income Plan: A traditional participating whole life plan that helps you to not only plan your financial goals but also realize your dreams by providing you with a steady income and whole life cover.With survival benefits payable every year from the end of the premium paying term till maturity and a life insurance benefit, this plan offers a perfect blend of income and financial protection for you and your family. It offers-
- Income for life – 5% of the Sum Assured guaranteed plus bonus every year after the Premium Paying Term
- Safety for your loved ones – Comprehensive financial protection of your family with whole life cover to age 100
Key Features BSLI Vision Life Income Plan:
- 5% of the Sum Assured guaranteed every year after premium paying term till life insured dies or 100 years of age; whichever comes first.
- Comprehensive financial protection for your family with whole life cover.
- Premium rebates on high Sum Assured, Annual & Semi Annual modes of payment and ESC method of payment.
- Access to suitable Rider options for added protection, at a nominal extra cost.
- Tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961.
Product at Glance:
Entry Age (age on last birthday) : 1 – 60 years
Policy Term : Whole Life to Age 100
Premium Paying Term : 15 to 40 years
Minimum : Attained Age at end of Premium Paying Term is 18 or more
Maximum : Attained Age at end of Premium Paying Term is 75 or less
Minimum Sum Assured : Rs 2,00,000
Minimum Premium : Rs 18,000
Premium Frequency : Annual, Semi-annual, Quarterly or Monthly
Benefits of BSLI Vision Life Income Plan:
In the unfortunate event of the death of the life insured during the premium paying term, the sum assured plus accrued bonuses as of date of death and Terminal bonus (if any) will be paid to the nomineeIn the event the life insured dies after the premium paying term, we shall pay to the nominee Sum Assured plus Bonus from the previous policy year and Terminal bonus (if any)
In the event the life insured survives to the end of the premium paying term, the life insured will receive the accrued bonuses till date. On survival to each subsequent policy year, the life insured will also receive an Income Benefit of 5% of Sum Assured in addition to the bonus from the previous policy year.
In the event the life insured survives to the end of the policy term, the policyholder will receive the Sum Assured and a Terminal Bonus (if any).
In the event of discontinuation of premium payment after at least three full years, the policy will not lapse but will continue on a Reduced Paid-Up basis. There will be no further accrual of bonuses.
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