Happiness and security of your family is something you have always held close to your heart.
As the head of your family, you have always fulfilled your responsibilities towards your loved
ones and have provided the comforts and benefits which they need, not just for the present
but even for their future. However, you are always afraid of life's uncertainty, insecurity of not
being able to provide adequately for your loved ones the little luxuries that you indulge in with
your family from the most pleasant memories of your life. Safety of your family's future depends
upon the decision you take today. A smart and good investment decision taken today ensures
that you and your family keep on enjoying those luxuries and benefits even when you are
Keeping this in mind, Birla Sun Life Insurance introduces to you BSLI Future Guard Plan.
A plan which provides complete financial freedom even when you’re not around, so that your loved ones live comfortably even in your absence.
This plan is ideal for you if you want an economical way of providing for life insurance cover and would like to protect your family in the unfortunate event of you not being around, yet receive all your premiums back on maturity. So you can enjoy life knowing that your family's future is secured and guaranteed even in your absence and your premiums are yours on your survival.
|Entry Age||18 to 65 years of age|
|Policy Term||10,15, 20, 25, 30 years, subject to max age on maturity: 75 years|
|Premium Paying Term||Regular Pay|
|Premium Mode||Annual | Semi-annual | Quarterly | Monthly|
|Sum Assured||Min. Rs.5,00,000
Max. No Limit
You choose the type of plan depending on what you desire at the end of policy term.
Plan A – 100% return of your premiums paid
Plan B – 110% to 150% return of your premiums paid depending on your policy term
You choose the number of years for which you want to be protected. You can choose a policy term of 10, 15, 20, 25 or 30 years.Step 3 - Choose your sum assured
You choose the sum assured payable on the death of the life insured.
For easy reference, your Sum Assured is banded as follows:
|Sum Assured Band||Band 1||Band 2||Band 3|
|Sum Assured (Rs.)||500,000 to 999,999||1,000,000 to 2,499,999||2,500,000 +|
Your premium will depend upon age, gender, plan type, policy term and the sum assured
chosen by you.
You may choose to pay your premium yearly, half-yearly, quarterly or monthly, as per your convenience. Your annual premium will be multiplied by:
Indicative Premium rates per Rs.1,000 Sum Assured for 30 year old male as per policy term:
|Plan Type||Premium rate per 1,000 Sum Assured (5 lacs to < 10 lacs)|
Indicative Premium rates per 1,000 Sum Assured for 30 year old female as per policy term
|Plan Type||Premium rate per 1,000 Sum Assured (5 lacs to < 10 lacs)|
Please ask your financial advisor or visit our website to determine the premium rate applicable for your policy.
In case of the unfortunate demise of the life insured during the policy term, the sum assured on
death* will be paid to the nominee. However, if life insured is different from the policy holder, the
policy holder will receive the death benefits. The policy shall be terminated once the Death
Benefit is paid.
* Sum Assured on Death is the maximum of Sum Assured or Maturity Sum Assured or 10 times the annual premium payable or 105% of total premiums paid to date excluding service tax, any applicable rider premiums and underwriting extras, if any
In the event the life insured survives to the end of the policy term, you will receive the Maturity Sum Assured which varies by the type of plan and the policy term chosen. It is calculated as the sum of the premiums paid (excluding service tax, rider premium and underwriting extras, if any) multiplied by the applicable percentage from the table below:
|Plan Type||Plan Type|
Your policy will acquire a surrender value after all due premiums for at least three full policy
years are paid. The Guaranteed Surrender Value is a percentage of premiums paid (excluding
any premiums paid towards rider/s benefit, underwriting extra and service tax).
Your policy will also be eligible for a Special Surrender Value. The surrender value payable will be the higher of Guaranteed Surrender Value or Special Surrender Value. The policy shall be terminated once the Surrender Value is paid.
Please ask your financial advisor for an illustration of the Special Surrender Values applicable to your policy or refer to your policy contract for further details.
For added protection, BSLI Future Guard Plan can be enhanced by the following riders for a nominal extra cost.
Please refer to detailed brochures on riders, consult your financial advisor or visit our website for further details.Reduced Paid-Up Benefits
If you discontinue paying premiums after having paid for at least three full policy years, your policy will not lapse but will continue on a Reduced Paid-Up basis. Under Reduced Paid-Up, your sum assured, sum assured on death and maturity sum assured shall be reduced in proportion to the premiums actually paid to the total premiums payable during the premium paying term. Reduced Sum Assured on death shall be payable on death of the life insured. On maturity, Reduced Maturity Sum Assured shall be paid.
You will have the right to return your policy to us within 15 days (30 days in case the policy
issued under the provisions of IRDA of India Guidelines on Distance Marketing of Insurance
products) from the date of receipt of the policy. We will refund the premium paid once we
receive your written notice of cancellation (along with reasons thereof) together with the original
policy documents. We will deduct proportionate risk premium for the period of cover and
expenses incurred by us on medical examination and stamp duty charges while issuing
*Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or any other means of communication other than in person.
Not available under this plan.Grace Period & Reinstatement
If you are unable to pay your premium by the due date, you will be given a grace period of 30
days and during this grace period all coverage under your policy will continue. If you do not pay
your premium within the grace period, the following will be applicable:
(a) In case you have not paid premiums for three full policy years then policy will lapse and all benefits under your policy will cease immediately.
(b) In case you have paid premiums for at least three full policy years then your policy will continue on a Reduced Paid-Up basis.
You can reinstate your policy for its full coverage within two years from the due date of the first unpaid premium by paying all outstanding premiums together with interest as declared by us from time to time and by providing evidence of insurability satisfactory to us. Upon reinstatement, your benefits shall be restored to their full value. If your policy has lapsed after paying premiums for at least two full policy years, then we will pay 10% of the premiums paid as lump sum benefit on death of life insured or on early termination of the policy or at the end of the revival period of two years, whichever occurs first.
We will pay the premiums paid to date or surrender value, if higher in the event the life insured dies by committing suicide, whether medically sane or insane, within one year from the inception of the policy or reinstatement date of the policy.Nomination
Allowed as per the provisions of Section 39 of the Insurance Act, 1938 as amended from time to time. For more details on the nomination, please refer to our website www.insurance.birlasunlife.com.Assignment
Allowed as per the provisions of Section 38 of the Insurance Act, 1938 as amended from time to time. For more details on the assignment, please refer to our website www.insurance.birlasunlife.com.Prohibition of Rebates – Section 41 of the Insurance Act, 1938
No person shall allow or offer to allow, either directly or indirectly, as an inducement to any
person to take or renew or continue an insurance in respect of any kind of risk relating to lives
or property in India, any rebate of the whole or part of the commission payable or any rebate of
the premium shown on the policy, nor shall any person taking out or renewing or continuing a
policy accept any rebate, except such rebate as may be allowed in accordance with the
published prospectuses or tables of the insurer.
Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend to ten lakh rupees.
As per the provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. For more details on Section 45 of the Insurance Act, 1938 please refer to our website www.insurance.birlasunlife.com.