Birla Sun Life Vision Plan
The Birla Sun Life Vision Plan is a Traditional non-participating Whole Life Plan, which means that the returns are guaranteed and there is no Bonus declared in this plan.
Key Features
Benefits
- Within the GSB Term, the Sum Assured + accrued Monthly Additions till date of death + + enhanced Monthly Additions for tenure of more than 21 years, would be paid as Death Benefit
- After the GSB Term, the Sum Assured would be paid as Death Benefit
At the end of the Guaranteed Survival Benefit (GSB) Term, the Sum Assured + accrued Monthly Additions + enhanced Monthly Additions for tenure of more than 21 years would be paid as the Survival Benefit and the policy continues.
At the end of the Policy tenure, i.e. if the Life Insured survives till 100 years of age, then the Sum Assured would be paid as Maturity Benefit and the policy would terminate.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
How it works
Eligibility
Minimum | Maximum | |
Sum Assured (in Rs.)
|
1,00,000
|
No Limit
|
Policy Term (in years)
|
100 – Age at Entry
|
|
Premium Payment Term or GSB (in years)
|
5
|
35
|
Age at GSB Term (in years)
|
Attained Age at
GSB Term is 18 or more
|
Attained Age at
GSB Term is 75 or less
|
Entry Age of Policyholder (in years)
|
1
|
65
|
Entry Age of Child (in years)
|
Whole Life
|
100
|
Age at Maturity
|
-
|
70 years
|
Payment modes
|
Annual, Semi-Annual, Quarterly and Monthly
|
FAQs
Loan facility is available under this policy after the 3rd policy year. The minimum loan amount is Rs. 5,000 and the maximum loan amount is 90% of the Surrender Benefit.