BSLI Vision Endowment Plus Plan

Death Benefit

In case of the unfortunate event of the death of the life insured during the policy term, the death benefit payable to the nominee shall be the aggregate of:

• Sum Assured on Death; plus
• Accrued regular bonuses as of date of death; plus
• Terminal Bonus (if any)

Option A - Sum Assured on Death is a maximum of 100% of Sum Assured or Maturity Sum Assured (1) or 10 times the annual premium payable.

Option B - Sum Assured on Death is a maximum of 150% of Sum Assured or Maturity Sum Assured (1) or 10 times the annual premium payable

Maturity Benefit

In the event the life insured survives to the end of the policy term, the company shall pay to the policyholder the aggregate of the following benefits:

• Maturity Sum Assured (where Maturity Sum Assured is sum of all premiums payable excluding service tax & cess, any applicable rider premiums and underwriting extra,if any)
• Accrued Bonuses till date;
• Terminal Bonus (if any)

The policy shall be terminated thereafter.

Bonus

The plan is eligible for the bonuses declared by the company. Bonuses once attached to the policy are payable on death, surrender or maturity as may be applicable.A Terminal Bonus may be added to a policy which depends on the actual future experience it is not a guaranteed benefit.

Loan Benefit

Loan facility is available under this plan. The minimum loan amount is Rs.5,000 and the maximum is 85% of your surrender value.

Surrender Value

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.

Tax Benefit

The plan offers tax benefits under section 80C  and section 10 (10D) of the Income Tax Act, 1961.

This plan offers following riders under this plan:

• BSLI Accidental Death and Disability
• BSLI Critical Illness Rider
• BSLI Surgical Care Rider
• BSLI Hospital Care
• BSLI Waiver of Premium Rider

Let us understand the plan with the case study of Ketan:

• Name of Life insured: Ketan
• Occupation: Salaried Professional
• Age of Life insured: 35 years
• Family Structure: A wife (appointed as a nominee) and a 4 year old kid
• Plan opted: BSLI Vision Endowment Plus Plan with death benefit option A
• Policy term: 20 years
• Premium paying term: 10 years
• Sum Assured: Rs 2.5 Lacs
• Annual Premium: Rs.17,509

Objective: He wants to secure his family's financial future with an investment solution that also offers returns on his investment.

 Maturity Benefit:

He can expect Rs. 4,05,085 as the total Maturity Benefit at the end of a 20 year term at 8% p.a and Rs. 222,585 at 4% p.a. He can also expect Guaranteed Maturity Benefit of Rs. 1,75,085 at the end of the policy term.

Death Benefit:

In case of Ketan's untimely demise, the total Death Benefit his family can expect will be Rs. 4,80,000 at 8% pa. And Rs. 297500 at 4% p.a.If he chooses the Death Benefit Option B, the premium he has to pay is Rs. 18,131.

Benefit Illustration: