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Birla Sun Life Insurance Bachat Child Plan
Like any responsible and loving parent, you want only the best for your child. While you save regularly to provide the best of education, shouldn't you also be able secure your child's bright future from any unforeseen circumstance? Presenting BSLI Bachat (Child) Plan - a plan that secures your child's future even in the event of an untimely demise of the life insured.
BSLI Bachat (Child) Plan - A step-by-step savings plan
BSLI Bachat (Child) Plan is a regular savings plan that helps you secure your child's future under all circumstances
Accidental Death Benefit - Optional Rider for Entry Ages 18 to 50
Plan Summary
Disclaimers
 
BSLI Bachat (Child) Plan - A step-by-step savings plan
 

The BSLI Bachat (Child) Plan secures your child's future by helping you build funds through regular savings. In the event of an untimely demise of the life insured, BSLI will pay all remaining premiums so that your policy continues. Also, your savings will continue to grow through the term of the policy.

  • Grow your regular savings
  • Policy continuance
  • Safety and liquidity
  • Tax savings

How BSLI Bachat (Child) Plan secures your child's future vis-à-vis other investment avenues:

It is very important to choose an investment option suited to your requirements. At BSLI, we understand that it could be difficult for you to pick out an investment avenue that's optimum for you. Here's presenting a simple comparison and evaluation for your convenience.

 

 

Safety

Small Savings

      Liquidity

Life Cover

Bank Fixed Deposits

Yes

Yes

Yes

No

Public Provident Fund

Yes

Yes

No

No

Post Office Time Deposits

  Yes

Yes

No

No

National Savings Certificates

Yes

Yes

No

No

BSLI Bachat (Child) Plan

Yes

Yes

Yes

Yes

 

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BSLI Bachat (Child) Plan is a regular savings plan that helps you secure your child's future under all circumstances
 

How BSLI Bachat (Child) Plan works:

You choose your Monthly Base Premium amount that belongs to one of the following bands:

 

Band

I

II

III

For policies with MBP (in Rs.)

400 to 599

600 to 899

900 +

Bachat Addition Rate

5.00%

5.25%

5.50%

 

In addition, you pay a Policy Continuation Premium to ensure continuation of the policy till maturity in case of death of the life insured during the policy term.

Policy Continuation Premium (fixed additional premium)

Entry Age

13 to 40

41 to 50

Sum Assured

180 x MBP

120 x MBP

Once you have chosen your premium amount, you receive a series of benefits as follows:

  • You will get a life cover for the financial security of your family.
  • You stand to receive premium rebates for choosing annual and semi-annual mode of payment. You get a rebate of 4% if you choose
    to pay annually, and 2% for semi-annually.
  • Your policy continues till maturity, as you planned to secure your child’s future in case of an untimely demise.
  • On maturity, you will receive a lump sum which you can use to fulfill your child’s dreams and goals.
  • You have the advantage of liquidity on your savings to access your money any time you need it after three policy years.
  • You have the option of double life cover in case of accidental death, for a nominal additional premium, to ensure enhanced financial security of your family

What are the benefits of BSLI Bachat (Child) Plan?

Maturity Benefit - On maturity after 20 years, you will receive

  • All Monthly Base Premiums paid; plus
  • All Bachat Additions earned; plus
  • The Loyalty Addition; less

Death Benefit - In the unfortunate event of death of the life insured, the nominee shall receive

  • Sum Assured will be paid to the nominee immediately;
  • Future premiums will be waived and the policy continues until maturity. On maturity, your child will be entitled to maturity benefits. This ensures that even in your absence your child's future is assured;
  • All Bachat Additions and Loyalty Addition will continue as if all MBPs are paid when due.

Surrender Benefit - Once 36 MBPs have been paid, you may surrender your policy and receive

  • All Monthly Base Premiums paid from the 2nd year onwards x the surrender factor below; plus
  • After the 10th policy year, all Bachat Additions earned; plus
  • After the 15th policy year, the Loyalty Addition earned

The surrender factor is 100% after completing 10 policy years, otherwise it is

Policy Year of Surrender

3

4

5

6

7

8

9

10+

Surrender Factor

30%

40%

50%

60%

70%

80%

90%

100%

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Accidental Death Benefit - Optional Rider for Entry Ages 18 to 50
 

For an extra 1.2% of MBP additional Sum Assured is paid in case of accidental death.

  • Extra 180 x MBP payable in case death is accidental for entry ages 18 to 40.
  • Extra 120 x MBP payable in case death is accidental for entry ages 41 to 50.

 

Policy

Base Premium

Bachat Addition

Loyalty

Total Addition

Surrender Benefit

Year

Annual

Paid

Earned

Payable

Addition

payable on
Surrender

Gtd

Total

 

 

 

 

 

 

 

 

 

[a]

[b]

[c]

[d]

[e]

[f]

[g]

[h]

1

6,000

6,000

300

---

---

---

---

---

2

6,000

12,000

600

---

---

---

---

---

3

6,000

18,000

900

---

---

---

3,600

3,600

4

6,000

24,000

1,200

---

---

---

7,200

7,200

5

6,000

30,000

1,500

---

---

---

12,000

12,000

6

6,000

36,000

1,800

---

---

---

18,000

18,000

7

6,000

42,000

2,100

---

---

---

25,200

25,200

8

6,000

48,000

2,400

---

---

---

33,600

33,600

9

6,000

54,000

2,700

---

---

---

43,200

43,200

10

6,000

60,000

3,000

16,500

--

16,500

54,000

70,500

11

6,000

66,000

3,300

19,800

---

19,800

60,000

79,800

12

6,000

72,000

3,600

23,400

---

23,400

66,000

89,400

13

6,000

78,000

3,900

27,300

---

27,300

72,000

99,300

14

6,000

84,000

4,200

31,500

---

31,500

78,000

109,500

15

6,000

90,000

4,500

36,000

10,800

46,800

84,000

130,800

16

6,000

96,000

4,800

40,800

13,872

54,672

90,000

144,672

17

6,000

102,000

5,100

45,900

17,557

63,457

96,000

159,457

18

6,000

108,000

5,400

51,300

21,931

73,231

102,000

175,231

19

6,000

114,000

5,700

57,000

27,075

84,075

108,000

192,075

20

6,000

120,000

6,000

63,000

33,075

96,075

120,000

216,075

Notes : [a] = MBP x 12.
[b] = MBP's paid to date or sum of [a] to date.
[c] = [b] x Bachat Addition Rate of 5.00%.
[d] = After 10 years, sum of
[c] to date.
[e] = After 15 years, [d] x ratio of [d] over 240 x MBP.
[f] = [d] + [e].
[g] = Surrender Factor x [b] less MBP's paid in first year. 100% x [b] in 20th policy year.
[h] = [g] + [f]

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Plan Summary
 

 

Entry Age - Grand / Parent - Child

18 - 50 years - 30 days to 17 years

Policy Term

20 years

Premium Pay Term

20 years

Monthly Base Premium

Rs. 400 - Rs. 3,000

Sum Assured

Up to 180 times Monthly Base Premium

Premium Payment Frequency

Annual, Semi-annual, Quarterly and Monthly

 

Entry Age

13 to 40

41 to 50

Sum Assured

180 x MBP

120 x MBP

With BSLI Bachat (Child) Plan, by saving as little as Rs. 400 per month. you can build a corpus through regular systematic savings and secure your child's future under all circumstances

Surrender Benefit details:

Assuming that premiums are paid annually, and earn 4% rebate, here are the surrender benefits under different premium bands.


Band

I

II

III

MBP Range (in Rs.)

400 to 599

600 to 899

900 +

Bachat Addition Rate

5.00%

5.25%

5.50%

MBP chosen by you

500

750

1,000

MBP x 12

6,000

9,000

12,000

Surrender Benefit

 

 

 

After 10 years

70,500

106,988

144,300

After 15 years

130,800

200,561

273,336

After 20 years

216,075

333,923

458,642

      Entry Age (years)

18-40

41-50

18-40

41-50

18-40

41-50

Annual Premium paid by you

5,990

6,336

8986

9,504

11,981

12,672

Surrender Benefit / Total Premiums Paid

 

 

 

 

 

 

After 10 years

118%

111%

119%

113%

120%

114%

After 15 years

146%

138%

149%

141%

152%

144%

After 20 years

180%

171%

186%

176%

191%

181%

Equivalent Bachat Addition Rate

 

 

 

After 10 years

3.22%

2.05%

3.47%

2.29%

3.72%

2.52%

After 15 years

5.70%

4.70%

6.10%

5.09%

6.51%

5.48%

After 20 years

7.65%

6.72%

8.17%

7.21%

8.71%

7.71%

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Disclaimers
 

Insurance is the subject matter of the solicitation. This is a non-participating traditional insurance savings plan. All terms & conditions are guaranteed throughout the policy term except for the Bachat Addition Rate which will vary from year to year and be declared by BSLI on April 1st of every calendar year. For more details refer to product brochure. Tax benefits are subject to changes in tax laws. 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.: 109N58V01 TRA / 7 / 10-11 / 4065 Version No.: VER 1/July/2010

 

UIN No. - 109N58V01
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