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Birla Sun Life Insurance Classic Life Plan
While you work hard towards achieving your ambitions, you also wish to save for a comfortable retirement. And you want a plan that gives you the flexibility to manage your savings. Presenting the BSLI Classic Life Plan - a plan that gives you complete control over your investments by directing your premiums to our range of 10 Investment Funds along with a range of rider options to give your family the security of financial protection.
This plan offers you:
How BSLI Classic Life Plan works:
Based on your above choices, you will receive a host of benefits as below:
Plan Summary
Disclaimers
 
This plan offers you:
 
  • Flexibility of directing your savings in 10 Investment Funds, as per risk appetite
  • Choice of Pay Term
  • Whole life cover
  • Enhanced financial security for your loved ones
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How BSLI Classic Life Plan works:
 
  • You select the Savings Date that suits your retirement goals.
  • You select the Basic Premium you want to pay every year.
  • You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by:
    • The higher of 10 or the number of years to attain age 70 divided by 2, for entry ages below 45; or
    • The higher of 7 or the number of years to attain age 70 divided by 4, for entry ages 45 and above
  • You select the number of years you want to pay your premiums, and select your Pay Term from option of 5-Pay / 10-Pay / 15-Pay / 20-Pay / To Savings Date.
  • You have the option to choose Enhanced Sum Assured to increase the financial security for your loved ones. This increases your life cover over and above the Basic Sum Assured at a nominal cost.
  • You have the option to choose from our range of riders and customise the security of your family's financial future.
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Based on your above choices, you will receive a host of benefits as below:
 

Death Benefit: In case of the unfortunate demise of the life insured while the policy is in effect, the nominee will receive the greater of either the Fund Value or the Basic Sum Assured, reduced for partial withdrawals as follows:

  • Before the life insured attains the age of 60, the Basic Sum Assured payable on demise is reduced by partial withdrawals made in the preceding two years
  • Once the life insured attains the age of 60, the Basic Sum Assured payable on demise is reduced by all partial withdrawals made from age 58 onwards

In addition, the nominee will also receive the Enhanced Sum Assured, if any.

Enhanced Sum Assured: Based on your needs you can increase the life cover over and above the Basic Sum Assured by opting for the Enhanced Sum Assured at inception. You can choose any amount of Enhanced Sum Assured, subject to a minimum of Rs. 50,000 and not exceeding Basic Sum Assured.

Whole Life Cover: You enjoy a life cover for your entire life, ensuring the long term financial security for your loved ones.

Surrender Benefit: In case of emergency fund requirements, you can surrender your policy after the completion of five policy years, and receive the Fund Value at that time.

Top-up Premium: If you wish to increase your investment in the policy, you have the freedom to invest additional amounts to your premium as top-up premiums, anytime during the policy term, as long as all due policy premiums have been paid. The minimum top-up premium is Rs. 5,000 and your Basic Sum Assured will automatically increased. For more details refer to our brochure.

Guaranteed Additions: Your policy enjoys a boost in the form of additional units. For more details on the guaranteed additions, please contact your financial advisors or refer to our brochure.

Partial Withdrawals: You can make unlimited partial withdrawals to meet any financial emergencies any time after 5 policy years. The minimum amount of partial withdrawal is Rs. 5,000. There is no maximum limit, but you are required to maintain a minimum Fund Value of Rs. 25,000 plus any top-up premiums paid in the previous five years.

Policy Loans: You can also avail loans on your policy.


Self-Managed Option - The flexibility to direct your savings in our range of 10 funds

The Self-Managed Option gives you complete access to invest your premiums in our well established suite of 10 Investment Funds, ranging from 100% debt to 100% equity. You also enjoy full freedom to switch from one Investment Fund to another, as per your changing requirements.

  • Choose from our range of 10 Investment Funds, to suit your risk appetite
  • Allocate your savings in the proportion of your choice
  • Change your allocations as per your changing requirements

Choose from our Rider options to increase the financial security of your loved ones

Critical Illness Rider:

On diagnosis of any of the four illnesses - Heart Attack, Cancer, Major Organ Transplant and Stroke, you will receive upto 100% of the Rider Sum Assured.

Accidental Death and Disability Rider:

In the event of death due to an accident, your nominee will receive the chosen Rider Sum Assured up to a maximum of Rs.50,00,000. In the event of disability due to an accident, you will receive a fixed percentage of the Rider Sum Assured, depending on the type of injury.

Hospital Care Rider:

In the event that you are hospitalised for treatment, you will receive Daily Cash Benefit to take care of your expenses. In case you are treated in an Intensive Care Unit, you will receive an Enhanced Daily Cash Benefit. To help you cover your recuperation expenses, you will be paid a lump sum amount, in case you are hospitalised for more than seven days for the same disease.

Surgical Care Rider:

In case you are hospitalised to undergo a surgery, you will be paid a lump sum amount to cover your expenses.

Waiver of Premium Rider:

In case the life inured / policyholder is unable to pay the policy premiums due to a disability, critical illness or an untimely demise, all future premiums of the base plan and the attached riders will be paid by BSLI and all policy benefits will continue.

For more details on any of the riders mentioned above, please consult your BSLI financial advisor or refer to the rider brochure.

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Plan Summary
 

Policy Term

Whole life

Entry Age

18 to 45 years

18 to 50 years

18 to 55 years

18 to 60 years

Savings Date

To age 55

To age 60

To age 65

To age 70

Basic Premium

Minimum Rs. 25,000 p.a. if paid annually
Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semi-annually

Pay Term

Short pay 5, 10, 15, 20 years

To Savings Date

Premium Payment Frequency

Monthly, Quarterly, Semi-annually or Annually

Top-up Premium

Minimum Rs. 5,000

Enhanced Sum Assured

Minimum Rs. 50,000, subject to maximum of 30 years to Savings Date

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Disclaimers
 

Disclaimer: The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of the solicitation. Birla Sun Life Insurance - BSLI Classic Life Plan - Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20 are only the names of the Company, Policy, and Investment Funds respectively and do not in any way indicate the quality of the Policy, Investment Funds or their future prospects or returns. Investment risk in investment portfolio is the borne by the policyholder. For further details please refer to product brochure. Regd. Office: One Indiabulls Centre, Tower 1, 15th & 16th floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Reg No. 109 Unique No.: 109L067V01 ADV / 11 / 10-11 /4309 Version No.: VER 1 / Nov / 2010

 

UIN No - 109L067V01
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