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BSLI Guaranteed Future Plan is a traditional non- participating life insurance plan. It is a unique plan which is framed to help you save for the important events in your life like your child's education, marriage, retirement, dream holidays,etc. This plan enables you to fulfill all your dreams and helps you to maintain the same lifestyle for your family even when you are not around.BUY NOW
In case of the unfortunate event of the death of the life insured during the policy term, there are 2 death benefit options for the payout which are:
Option 1: Lump sum Amount on death: Guaranteed Death Benefit (The Guaranteed Death Benefit is the Sum Assured on Death which is the highest of Sum Assured or Maturity Sum Assured or 10 times the annual premium payable or 105% of total premiums paid to date )
Option 2: Receive a regular Guaranteed Income in addition to the lump sum amount of money: The pay out is an aggregate of:
On maturity date, the life insured will receive a percentage of premiums ranging from 100% to 160% will be paid guaranteed
The plan is not eligible for the bonuses as it is a non-participating life insurance plan.
Policy loans are not allowed under this policy.
Guaranteed surrender value (GSV) plus the surrender value of the bonuses, which is a percentage of accrued bonuses is payable if at least three full years premiums have been paid. The GSV shall be a percentage of total premiums paid.
The plan offers tax benefits under section 80C and section 10 (10D) of the Income Tax Act, 1961.
|Age (as on last birthday)||18 Years||50 Years|
|Age at Maturity||-||70 Years|
|Policy Tenure||8 Years||20 Years|
|Premium Paying Term||Same As Policy Term||-|
|Premium Paying Mode||Annually,Semi Annually,Quarterly And Monthly||-|
|Premium Amount||Rs 10,000||-|
|Sum Assured||10 X Annual Premium||-|
|Freelook Period||15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
|Grace Period||30 Days & 15 Days (for Monthly Mode)||-|
Following riders can be opted with this plan:
Let us understand the plan with the case study of Sachin:
Objective: He wants to secure his family's financial future with an investment solutions that also offers returns on his investment.
Total Maturity Benefit he can expect at the end of a 20 year term at 8% interest will be Rs. 2, 34,000 and Rs. 190, 000 at 4% interest rate. Plus, he can expect Guaranteed Additions which are up to Rs. 20,000 from the 5th year onwards. He can also expect Guaranteed Benefit of Rs. 1, 20,000 at the end of the policy term. .
In case of Sachin's untimely demise, the Death Benefit his family can expect will be Rs.234,000 @8% interest rate and @4% it will be Rs. 190,000. The Estimated Bonuses the policy will earn are of Rs. 114,000 @8% interest rate and Rs. 70,000 @4% interest rate.
Accidental Death Benefit:
Additional Sum Assured is payable on death occurring due to an accident is Rs 1,00,000 along with the basic death benefit.