Birla Sun Life Insurance has launched a traditional participating endowment plan — BSLI Vision Regular returns Plan — which offers liquidity, long-term savings and life insurance benefit. The traditional participating endowment policy offers secured growth on savings and regular liquidity to meet financial objectives of the customers. In the event of the unfortunate death of the life insured during the policy term, the plan will pay to the nominee the sum assured plus accrued bonuses as on date of death. Bonuses once attached to the policy are guaranteed to be payable on death, survival and maturity, as may be applicable. The policy has tax benefits under Sections 80C, 80D and 10(10D) of the Income Tax Act,1961. A policy holder will start receiving returns every year starting from sixth year up until the end of policy term, thus infusing liquidity early on for a prolonged tenure. Says Jayant Dua, MD & CEO, Birla Sun Life Insurance: “In an increasingly uncertain market scenario, customers are now looking for plans that can provide them some guarantee, growth on their savings and adequate protection so that they can best beat inflation.”
The BSLI Vision Regular Returns Plan offers:
- Growth in your savings – Enhance your savings by Accrued Bonuses starting from the first policy year
- Easy liquidity at regular intervals – You receive survival benefits every year starting from end of five years till the end of policy term
- Safety to your loved ones – Comprehensive financial protection of your family depending on your choice of Sum Assured
- Accrued Bonuses – This policy shall participate in the profits arising out of the company’s profit business, which comes in the form of bonus. Accrued Bonuses are compound reversionary and include Interim Bonuses, if any, attached to the policy to date. Bonuses once attached to the policy are guaranteed to be payable on death, survival and maturity, as may be applicable; the rate of which may vary. However future bonuses are not guaranteed and depend on future profits
- You choose the Sum Assured payable on the death of the life insured.
- Your policy premium will be based on the sum assured chosen by you.
- You choose from our range of riders, to enhance your financial security.
Entry Age (age on last birthday)
13 – 55 years
Premium Paying Term
Same as policy term
Minimum Sum Assured
Annual, Semi-annual, Quarterly, Monthly
Benefits of BSLI Vision Regular Returns Plan
- Sum Assured(1); plus
- Accrued Bonuses as of date of death
(1)Sum Assured payable on death shall never be less than 105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras)
Guaranteed Survival Benefit
After you pay premiums for at least 5 policy years and provided your policy status is premium paying, on every policy anniversary thereafter you shall receive (on survival)
- Guaranteed Survival Benefit ; plus
- Non-Guaranteed Survival Benefit (6.25% of the Accrued Bonuses)
- Accrued Bonuses; less
- Non-Guaranteed Survival Benefits paid till date
The policy shall be terminated once the Maturity Benefit is paid.
As per extant tax laws, this plan offers tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein.
You are advised to consult your tax advisor for details.
For details on any of the above benefits please refer to the detailed product brochure before concluding the sale