Birla Sun Life Saral Health Plan

BSLI Saral Health Plan is a Non-Participating Unit Linked Health Insurance Plan from Birla Sun Life. Thus, this plan provides the benefit of a Health Plan which caters to hospitalization benefit along with fixed surgical benefits as well along with Life Coverage and Market Linked Investment Opportunity.

This is a Non-Traditional Plan without Bonus facility.

Death Benefit

Income Tax Benefit

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Critical Illness Benefit

Compare this plan with other Health Plans

Key Features

This is a Non Participating Unit Linked Insurance Plan

This plan provides coverage for hospitalisation expenses for both surgical and non-surgical events

There is an additional feature of Critical Illness where a Lump Sum Amount is paid in addition to the hospitalisation cash benefits, on diagnosis of a Critical Illness

This policy provides for Routine Health Check Up facility as well

Under this plan, there is extended coverage of dental care, pathology expenses and other similar costs in the long run

Health Reimbursement Benefit can be enhanced by paying additional premium after 5 policy years by simply providing bills and proof of hospitalization expenses

There is a provision of enhancing health benefits by paying additional premium

This Plan provides Minimum Guaranteed Addition and for Additional Premium paid

There is no requirement of any medical in this plan

This is a whole life plan, where the Health Benefit stops after the Policy Tenure, but the Fund Value continues till 100% of the Fund Value has been paid out as Health Reimbursement Benefit

The remaining Fund Value is paid to the nominee on death of the Life Insured

Benefits

Death Benefit

On death of the Life insured, the remaining Fund Value is paid to the nominee and the policy terminates.

Maturity Benefit

Being a Whole Life Plan, there is no Maturity Benefit under this plan. However, after the Policy Tenure is over, the Health Benefit stops but the Fund Value continues till 100% of the same has been paid out as Health Reimbursement Benefit

Medical Benefit

Hospitalization Benefit— is paid up to:
- Rs. 2,000 if there has been no surgical procedure during your hospitalization; or
- Rs. 4,000 if there has been any surgery during your hospitalization; or
- Rs. 8,000 if surgery directly involved with the brain, heart (including coronary arteries), liver or lung
Critical Illness Benefit— In case of diagnosis of any of the 4 critical illnesses Heart Attack, Cancer, Stroke and Major Organ Transplant, a lump sum amount of Rs 20,000 is paid for Recovery Purpose
Health Reimbursement Benefit— This benefit can be claimed after 5 Policy Years to an extent of 100% of the Fund Value for the following:
- General practitioners fees, medicines and drugs,
- Pathology and diagnostics expenses
- Dental treatment
- Ayurvedic and Homeopathic treatment
- Any health related expense not covered under medical insurance

For claiming this Benefit, bills or proof of expense needs to be produced and the Health Reimbursement Benefit would be provided by reducing the Fund Value by the same amount.

Terminal Illness Benefit— If the Life Insured is diagnosed with a terminal illness, 100% of the Fund Value can be withdrawn.

Income Tax Benefit

Health Insurance Premiums paid up to Rs. 15,000 for normal residents and Rs 20,000 for Senior Citizen are allowed as a deduction from the taxable income each year under section 80D

Riders

There are NO additional riders available with this plan

Investment Fund Options

The plan has 1 Investment Strategy of LifeCycleOption which invests in:

Income Advantage Fund
Maximiser Fund

Top-up

Top Up premiums are not allowed under this plan

Switching

There is no switching option as investment is based on age under LifeCycle Option.

Health Reimbursement Benefit

The first 4 Reimbursement Claim in a policy year is free of charge and 100% of the Fund Value can be claimed after 5 Policy Years.

How it works

In this plan, premium needs to be paid for 10 years for 10 years Policy Term and 10 years and 20 years for 20 years Policy Tenure. A minimum amount of premium needs to be paid which can be increased for enhanced benefits.

The premium, after deduction of charges, is invested in 2 funds depending on the entry age under LifeCycle Investment Option.

Under the regular benefits, this plan pays for a fixed Hospitalization Benefit of Rs. 2,000 if there has been no surgical procedure during your hospitalization, Rs. 4,000 if there has been any surgery during your hospitalization and Rs. 8,000 if surgery directly involved with the brain, heart (including coronary arteries), liver or lung. In case the Life Insured has been diagnosed with a Critical Illness, then a lump sum benefit of Rs 20,000 is paid towards Critical Illness Benefit.

However, regular benefits of medical expenses are provided by withdrawing upto 100% of the Fund value by submitting bills under Health Reimbursement Benefit and even Terminal Illness Benefit. After the Policy Tenure is over, the Health and Hospitalization Benefit stops but the Fund Value continues indefinitely till 100% of the Fund Value has been withdrawn under Health Reimbursement Benefit.

In the unfortunate event of the Life Insured’s demise, the nominee will receive the Fund Value.

Eligibility

	Minimum	Maximum
Health Insurance Benefit (in Rs.)	10,00,000
Policy Term (in years)	10	20
Policy Term (in years)	10 pay for PT=10	10 pay and 20 pay for PT= 20
Entry Age of Life Insured (in years)	18	50
Age at Maturity (in years)	-	70
Payment modes	Yearly, Half-Yearly. Quarterly and Monthly

FAQs

What happens if policyholder stop paying the premium

If the premiums are stopped before completion of 3 policy years, then the policy lapses. It can however be revived with 2 policy years.
After completion of 3 policy years, the Fund Value, net of charges is paid out.

What happens if policyholder want to surrender the policy

There are no surrender benefits under this term plan.

What happens if policyholder want a loan against your policy

Loan facility is not available under this policy.