Birla Sun Life Dream Life Plan
The Dream Life Plan from Birla Sun Life Insurance is a Unit Linked Non-Participating Endowment Plan. Thus it is a Non-Traditional Plan without Bonus Facility.
Key Features
Benefits
If the Life Insured dies within the Policy Tenure, the Basic Sum Assured + Fund Value + Enhanced Sum Assured, if any would be paid as the Death Benefit and the policy would be terminated.
The higher of the Fund Value or the Guaranteed Savings Fund is paid as Maturity Benefit. Guaranteed Savings Fund is the accumulation at 3% p.a. of all Premiums paid.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
- BSLI Accidental Death and Disability Rider
- BSLI Critical Illness Rider
- BSLI Surgical Care Rider
- BSLI Hospital Care Rider
- BSLI Waiver of Premium Rider
There is only 1 Investment Fund that is available: Enhancer Fund
Not Allowed.
Not applicable as there is only 1 Fund that is available.
Unlimited partial withdrawals are allowed any time after completion of 5 Policy Years. The minimum amount of partial withdrawal is Rs. 5,000. There is no maximum limit, but a minimum Fund Value of Rs. 25,000 needs to be kept in the Fund Value.
How it works
Eligibility
| Minimum | Maximum | |
|
Basic Sum Assured (in Rs.)
|
The higher of 10 or the number of years to attain 70 years divided by 2, for entry ages below 45
The higher of 7 or the number of years to attain 70 years divided by 4, for entry ages 45 and above
|
|
|
Policy Term (in years)
|
Whole Life
|
|
|
Premium Payment Term (in years)
|
5, 10, 15
|
20
|
|
Entry Age of Life Insured (in years)
|
18
|
60
|
|
Guaranteed Savings Date (in years)
|
55 for Age at Entry=18-45
60 for Age at Entry=18-50
65 for Age at Entry=18-55
|
70 for Age at Entry=18-60
|
|
Age at Maturity on Guaranteed Savings Date (in years)
|
-
|
70
|
|
Annual Premium (in Rs.)
|
12,000 p.a.
|
No Limit
|
|
Payment modes
|
Annual, Semi-Annual, Quarterly and Monthly
|
|
FAQs
If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.
If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.
The minimum loan amount is Rs. 5,000 and the maximum loan amount is 40% of the fund value
