Birla Sun Life Insurance Child Plans

List of Different Child Plans Offered By Birla Sun Life Insurance Company, With Features, Benefits And Eligibility

BSLI Vision Star Plan

Features:

• A Traditional, Participating, Child Plan, which offers assured payouts from time to time
• Select your premium paying term from 5 years to 12 years
• Make your choice between two Assured Payout Options that best cater to the requirements of your growing child:
  1. Option A – 4 biannual payouts of 20% | 20% | 30% | 30%
  2. These payouts will start 5 years after the premium paying term is over and will be rendered every two years.
  3. Option B – 5 annual payouts of 15% | 15% | 20% | 20% | 30%
  These payouts will start 5 years after the premium paying term is over and will be granted every year.
• 4 Bands of Sum Assured:
1. Band 1: Rs. 1,00,000 to Rs. 1,99,999
2. Band 2: Rs. 2,00,000 to Rs. 3,99,999
3. Band 3: Rs.4,00,000 to Rs.7,99,999
4. Band 4: Rs. 8,00,000 +
• Provision of waiver of future premiums in case of death of life insured
• A minimum assurance of receipt of 105% of total premiums paid as Death Benefit in the event of death of life insured
• Pay premiums annually, semi-annually, quarterly, or monthly – as per your convenience
• Enjoy a rebate of 3.0% in premiums, when you decide to pay annually, and a rebate of 1.5% in premiums for semi-annual payments
• Avail discounts in premium on choosing a larger sum assured

Features:

• Regular Bonus: Enjoy simple reversionary bonuses that are credited to your policy at the end of each financial year. These bonuses are non-guaranteed in nature and depend upon the performance and profits earned by BSLI. These are received at the time of policy maturity.
• Terminal Bonus: Based on the prevailing economic conditions, BSLI may pay out a terminal bonus on maturity or surrender.
• Assured Payout: As per the plan chosen, you are entitled to receive assured payouts, starting from the 5th year after the premium paying term is over. These payouts are expressed as a pre-defined percentage of the Sum Assured.

  Option A
  	X + 5	X + 7	X + 9	X + 11
  %age of Sum Assured	20	20	30	30

  Option B
  	X + 5	X + 6	X + 7	X + 8	X + 9
  %age of Sum Assured	15	15	20	20	30

  Where X denotes the premium paying term
• Death Benefit: In the unfortunate event of the death of the life insured during the policy term, the nominee is entitled to receive the Sum Assured on Death as the Death Benefit. Further, there is no need to pay any future premiums, and the policy continues, with the receipt of Assured Payouts as and when due. At the time of policy maturity, the nominee will also be liable to receive the accrued bonuses and terminal bonus, if any. Here, the Sum assured on Death is the higher of the following, subject to a minimum of 105% of total premiums paid till the date of death:
  • Sum Assured chosen at inception, irrespective of the assured payouts received, or
  • 10 Times the Annual Premium Payable
• Maturity Benefit: Upon survival, you become eligible to receive the Maturity Benefit, which is a sum of the following:
  Accrued bonuses till date + Terminal bonus (if any)
• Reduced Paid-up Benefits: If you are experiencing a financial crunch and not being able to pay the premiums, then your policy can be continued on a Reduced-Paid up basis, provided you have paid premiums for at least three full years.
• Surrender Benefit: If an emergency situation arises, you can surrender your policy and receive the Surrender Value, provided three full years premiums have been paid.
• Policy Loan: You are eligible to take a loan against your policy after it has acquired a surrender value, subject to a minimum loan amount of Rs.5,000 and maximum amount of 85% of your policy’s surrender value.

Eligibility:

Riders:

Riders are not available under this plan.