Birla Sun Life Insurance Company Limited (Birla Sun Life Insurance / BSLI) is a joint venture between the renowned business house of India, the Aditya Birla Group, and Canada’s esteemed international financial services organization, the Sun Life Financial Inc. BSLI offers a diversified product bouquet consisting of a wide range of solutions spanning wealth creation, life coverage, children’s future, retirement planning, health & wellness, and much more. With over 550 offices located across the length & breadth of the country, this insurer has a customer base of 2 and a half million, an advisory network of 1,05,000, and over 100 business & distribution partnerships.
Considering the mounting education expenditures and rising inflation, wouldn’t it be great if you could receive assured payouts from time to time to fund your child’s education, or take care of medical expenses, in case he/she develops a chronic illness? Well, BSLI’s Child Plan offers this exceptional feature of receiving a fixed percentage of the sum assured, every year or two, after 5 years of the completion of the premium payment term. Further, it also gives out bonuses, which may help you to increase your corpus for supporting your child’s ambitions, and in case something untoward happens to you, the policy also provides financial aid, so that your offspring does not have to give up on his/her dreams, in your absence.
Your child is not only your asset, but also your prime responsibility, and their financial well-being is your top-most priority. Child plans help parents to achieve this goal of providing their children with financial assistance at key milestones of their lives as well as during unforeseen critical situations. They help in creating a kitty, so that there is no dearth of funds, when the child is ready to embrace higher education, take up a career, or when there is a sudden loss of income in the family.
These payouts will start 5 years after the premium paying term is over and will be rendered every two years.
These payouts will start 5 years after the premium paying term is over and will be granted every year.
|Band||Premium Rebate per 1000 of Sum Assured|
|X + 5||X + 7||X + 9||X + 11|
|%age of Sum Assured||20||20||30||30|
|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
Accrued bonuses till date + Terminal bonus (if any)
|Entry Age (age on last birthday)||Minimum: 18 | Maximum: 55 years|
|Maximum Maturity Age||75 years|
|Policy Term||: For Option A : Minimum: 16 years | Maximum : 23 years
For Option B: Minimum: 14 years | Maximum : 21 years
|Premium Paying Term||Minimum: 5 years | Maximum: 12 years|
|Minimum Sum Assured||Rs. 100,000|
|Premium Frequency||Annual, Semi-annual, Quarterly & Monthly|
Riders are not available under this plan.