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BSLI Vision Star Plan is a traditional participating insurance plan, which is designed to provide for important milestones for your child. It thus assures you that nothing will prevent your child’s dream from turning into reality.
Get QuotesIn the event of death of the life insured during the term of the policy, the death benefit payable is Sum Assured on Death plus Assured Payouts on the scheduled dates plus bonuses accrued till policy maturity date and terminal bonus. Waiver of all future premiums is also applicable after death of the life insured.
Sum Assured on Death is the higher of Sum Assured chosen at inception or 10 times the annual premium payable. The death benefit payable is subject to a minimum of 105% of total premiums paid.
In case of survival of the life insured, Accrued bonuses plus Terminal bonus is payable at maturity of the policy. The policy gets terminated after payment of the maturity benefit.
The Company may declare Simple Reversionary Bonus regularly at the end of every financial year and it is added on its policy anniversary. Bonuses once attached are payable along with the interim bonuses, as applicable on maturity or surrender.
Terminal Bonus is payable on maturity or surrender of the policy, whichever is earlier. The company pays the terminal bonus on the basis of the actual experience and the prevailing economic conditions.
Option A – 4 biannual payouts of 20%, 20%, 30% & 30%. 5 years after completion of the premium paying term, there will be an Assured Payout in every two years.
Option B – 5 annual payouts of 15%, 15%, 20%, 20% & 30%. 5 years after completion of the premium paying term, there will be an Assured Payout in every year.
The minimum loan amount that can be availed under this policy is Rs 5,000 and the maximum up to 85% of your surrender value.
Surrender Value payable is higher of Special Surrender Value or Guaranteed Surrender Value. The policy will acquire a surrender value on payment of at least 2 full policy year’s premium, when premium payment term is less than 10 years and it can be acquired on payment of at least 3 full policy year’s premium, when premium payment term is 10 years or above.
You can avail tax benefits under section 80C & 10 (10D) of the Income Tax Act. Tax benefits are applicable, as per the prevailing tax laws.
| Factor | Minimum | Maximum |
| Age (as on last birthday) | 18 Years | 55 Years |
| Age at Maturity | - | 75 Years |
| Policy Tenure | 16 Years (option A), 14 Years (option B) | 23 Years (option A), 21 Years (option B) |
| Premium Paying Term (PPT) | 5 Years | 12 Years |
| Premium Paying Mode | Annually, Semi Annually, Quarterly & Monthly | - |
| Premium Amount | Depends On The Sum Assured | - |
| Sum Assured | Rs 1,00,000 | - |
| Freelook Period | 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy | - |
| Grace Period | 30 Days | - |
| Plan Type | Offline | - |
No rider can be opted under this plan.
Mr. Prakash at 40 years of age, opts to buy BSLI Vision Star Plan with the policy term of 21 years, premium payment term of 10 years, annual premium amount of Rs 22,392 and sum assured of Rs 2,50,000. Plan option chosen is option A and payout frequency is biannual.
Scenario A: Prakash Survives the Policy Term
In case of survival of the life insured, Accrued bonuses plus Terminal bonus is payable at maturity of the policy.
Scenario B: Prakash dies during the Term of the Policy
In the event of death of the life insured during the term of the policy, the death benefit payable is Sum Assured on Death plus Assured Payouts on the scheduled dates plus bonuses accrued till policy maturity date and terminal bonus.
Benefit Illustration:
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