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BSLI Vision Life Income Plan

What is the Plan all About?

BSLI Vision LifeIncome Plan is a traditional participating whole life insurance plan that offers survival benefit from the end of the premium pay period till maturity. This plan also provides maturity benefit and life insurance benefit. With an extra source of regular income, this plan helps you achieve the key financial goals in your life.


What are the Key Features?

  • Income for life
  • Life cover till 100 years of age
  • Get survival benefit
  • Maturity benefit
  • Enjoy bonuses
  • Premium rebate on opting higher sum assured
  • Loan facility available
  • Avail tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of death of the life insured during the premium payment term, Sum Assured plus Accrued bonuses till the date of death plus Terminal bonus is payable to the nominee. In the event of death of the life insured after the premium payment term, Sum Assured plus bonus from the current policy year plus Terminal bonus is payable to the nominee.

    The policy gets terminated on payment of death or maturity benefit is paid and no other benefit is then payable.

Maturity Benefit

    On survival of the life Insured till the end of the policy term, Sum Assured plus Terminal bonus is payable.

Survival Benefit

    In case of survival of the life Insured on completion of the premium paying term, Accrued bonuses till date is payable. On survival of the life Insured to the end of each subsequent policy year, Income Benefit as 5% of Sum Assured plus Bonus from the current policy year is payable.


    Simple Reversionary Bonus is declared regularly at the end of each financial year. When attached to the policy, it is payable along with the interim bonuses on surrender, survival, or death. Future bonuses are non-guaranteed and it depends on the future profits of the participating business.

    Terminal Bonus is payable on death or maturity, depends on the actual experience and the prevailing economic scenario.

Loan Benefit

    The minimum loan amount you can obtain under this policy is Rs 5,000. You can avail the maximum loan amount up to 85% of the Surrender Value.

Surrender Value

    This policy acquires Surrender Value after paying at least three full policy years’ premium. Upon surrendering the policy, the higher of Guaranteed Surrender Value or Special Surrender Value is payable.

Tax Benefit

    This policy provides tax benefits under section 80C, 10 (10D) & 80D of the Income Tax Act, 1961.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 1 Year 60 Years
Age at Maturity 18 Years 75 Years
Policy Tenure Whole Life To 100 Years -
Premium Paying Term 15 Years 40 Years
Premium Paying Mode Annually, Semi Annually, Quarterly & Monthly -
Premium Amount Rs 18,000 -
Sum Assured Rs 2 Lacs No Limit (subject To Underwriting)
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) -
Plan Type Offline -

Is any Rider Available with this Plan?

Following riders can be opted, on payment of additional rider premium.

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

How the Plan Works?

Raman at 35 years, wants to buy BSLI Vision LifeIncome Plan to gain control over savings with whole life protection. He opts the plan with the policy term of Whole Life to Age 100, premium paying term of 15 years, Sum Assured is Rs 2,50,000 with annual premium of Rs 20,954.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Rs 2,50,000 plus Terminal bonus. The maturity benefit helps fulfill your financial objectives.

Scenario B: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman before completion of the premium paying term, the nominee will receive Rs 2,50,000 plus Accrued bonuses plus Terminal bonus. After completion of the premium paying term, Rs 2,50,000 plus bonus from the current policy year plus Terminal bonus is payable as the death benefit.

Benefit Illustration:

BSLI Vision Life Income Plan Benefit Illustration