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Birla Sun Life Insurance Immediate Income Plan

BSLI Immediate Income Plan is an Immediate Annuity Plan from Birla Sun Life Insurance Company. It is a Traditional Plan without Bonus Facility.

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Annuity Purchase Price
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Nominee Benefit
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Payment Options
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Key Features

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This is a Traditional Immediate Annuity Plan
This is a single premium plan
Annuity Purchase Price

The Annuity is purchased by a Lumpsum Payment as Annuity Purchase Price

Payment Options

The Annuity starts from the next yearly, half yearly, quarterly or monthly installment

Nominee Benefit

When the Annuitant dies, 100% of the Annuity Purchase Price is paid to the nominee.

There are no medical requirements for this plan

 

 

Benefits

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Death Benefit

 When the Annuitant dies, the annuity plan stops and 100% of the Annuity Purchase Price, i.e. the Lumpsum Amount paid at the time of policy inception is paid to the nominee.

Maturity Benefit

There is no maturity date. The annuity continues as long as the Annuitant is alive

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80CCC.

How it works

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In this plan, premium needs to be paid in a lumpsum to purchase the annuity depending upon the regular income you would like to receive as annuity from this plan. The Annuity Payment is guaranteed for Life and depends on the annuity rates prevailing at the time of purchasing the policy.
Thus, in this plan, annuity is paid to the policyholder from the next instalment as opted, i.e. yearly, half yearly, quarterly or monthly and is paid as long as the annuitant is alive. Annuity is paid either through post dated cheques or direct account credit.

When the Annuitant dies, 100% of the Annuity Purchase Price, i.e. the Lumpsum Amount paid at the time of policy inception is paid to the nominee and the policy is terminated.

Eligibility

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Minimum
Maximum
Sum Assured (in Rs.)
No Sum Assured
Policy Term (in years)
Till Death
Premium Payment Term (in years)
Single
Entry Age of Annuitant (in years)
50
90
Age at Maturity (in years)
 
 
Annualized Annuity (in Rs.)
Rs 120,000 p.a.
No Limit
Annuity modes
Annual, Semi-Annual, Quarterly and Monthly
 

FAQs

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angle down iconWhat happens if you stop paying the premium?

Being a single premium plan there is no further requirement of premium payment.

angle down iconWhat happens if you want to surrender the policy?

There is no Surrender Facility in this plan

angle down iconWhat happens if you want a loan against your policy?

There is no Loan Facility in this plan