BSLI Future Guard


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 not around.
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.


  • Complete financial protection at an affordable cost
  • Guarantee of at least return of premiums paid at the end of policy term
  • Enhance your insurance with appropriate rider options
  • Tax benefits as per prevailing norms under the Income Tax Act, 1961
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


Step 1 - Choose your type of plan

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

Step 2 - Choose 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:

  • 1.000 for annual installments
  • 0.520 for half-yearly installments
  • 0.265 for quarterly installments; or
  • 0.090 for monthly installments

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)
10 15 20 25 30
Plan A 15.76 13.53 11.77 10.65 10.15
Plan B 25.42 24.11 19.20 15.52 13.61

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)
10 15 20 25 30
Plan A 15.08 12.77 10.96 9.80 9.38
Plan B 24.34 22.88 18.19 14.51 12.73
Premiums shown above are prior to service tax and education cess as applicable.

Please ask your financial advisor or visit our website to determine the premium rate applicable for your policy.


Death Benefit

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

Maturity Benefit

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
10 15 20 25 30
Plan A 100% 100% 100% 100% 100%
Plan B 110% 120% 130% 140% 150%
The policy shall be terminated once the Maturity Benefit is paid.

Surrender Benefit

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.

Rider Benefits

For added protection, BSLI Future Guard Plan can be enhanced by the following riders for a nominal extra cost.

  • BSLI Accidental Death and Disability Rider (UIN: 109B018V03)
  • BSLI Critical Illness Rider (UIN: 109B019V03)
  • BSLI Surgical Care Rider (UIN: 109B015V03)
  • BSLI Hospital Care Rider (UIN: 109B016V03)
  • BSLI Waiver of Premium Rider (UIN: 109B017V02)
  • BSLI Accidental Death Benefit Rider Plus (UIN: 109B023V01)

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.


Free-Look Period

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 your policy.
*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.

Policy Loan

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.


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


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

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.

Fraud and Misrepresentation

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

UIN No. - 109N077V02