"Spending a whole day looking for insurance is fun," said nobody, EVER!

BSLI Bima Suraksha Super Plan

 0.0 / 5.0   by 0 users
Used this product? Write a review >>

Plan Benefits

Payment Options

Policy Coverage

Customer Service

It is in human nature to worry about securing the future of your loved ones in your absence. It could be to ensure that your family is financially secure and can meet financial requirement like repaying a loan, daughter’s marriage and child’s education. With BSLI Bima Suraksha Super Plan, you get life insurance cover by paying regular premium. In the event of your death, the nominee will get the sum assured. There is minimum documentation required and it is simple and convenient.

Eligibility Conditions of BSLI Bima Suraksha Super Plan

Entry Age

For 5 years:

Minimum – 18 years

Maximum – 60 years

For 10 years:

Minimum – 18 years

Maximum – 55 years

For 15 years:

Minimum – 18 years

Maximum – 50 years

Maximum maturity age

65 years

Sum assured

Minimum – Rs.5,000

Maximum – Rs.50,000

Modal Factors

Mode

Modal premium as % of annualised premium

Semi-annually

51%

Quarterly

25.8%

Monthly

8.70%

Premium payment mode

Cash, credit card, salary deduction, ECS, demand draft, direct debit, etc.

Key Features of BSLI Bima Suraksha Super Plan

Type

A traditional participating life insurance plan.

Basis

Single

Coverage

  • Death Benefit: In the event the life insured dies, the sum assured is paid to the nominee.
  • Maturity benefit: No benefit payable.

Premium paying term

5, 10 and 15 years

Premium paying frequency

Yearly, half-yearly, quarterly or monthly.

Monthly mode payment can be done through ECS or demand draft only.

Bonuses

Not available.

Surrender Benefit

No surrender benefit payable.

Loan

Not available.

Free look period

You get 30 days from the receipt of the policy document to return the policy. You need to submit a written reason for objection. The premium will be provided to you if you give a written notice for cancellation along with the policy document.

Grace period

The policyholder will get 180 days of grace period from the premium due date to make the payment. If there is a claim before the expiry of the grace period, then the sum assured paid will be reduced for the unpaid premiums.

Tax benefits

You can avail tax benefits under section 80C and Section 10(10D) of the Income Tax Act, 1961.

Revival

The lapsed policy can be revived if all the due payment are the unpaid premiums are paid with 1 percent interest per month. The policyholder can otherwise submit a fresh declaration of health at the time of reinstatement.

Nomination

You can nominate a person to avail the benefit of the policy at an event of your death. This nomination has to be done before the policy matures. You will not be charged if you wish to change the nomination.

In the event, there is no living nominee to take claim for the benefit, then the life insured’s estate shall be deemed to be the nominee under Section 39 of the Insurance Act, 1938.

Advantages of BSLI Bima Suraksha Super Plan

  • It is simple and convenient and there is no need for the insured to have medical test and the documentation is simple.
  • The benefit period of 5, 10 or 15 years can be chosen to avail benefits ranging from Rs.5,000 to Rs.50,000.
  • Premiums depend on the age, gender, sum assured and benefit period chosen.
  • You can also take the Accidental Death Rider. It provides a base sum assured that is equal to or greater than Rs.10,000 if the insured dies in an accident.

How The Plan Works

The product offers an assured benefit in case the insured dies. This benefit varies from Rs.5,000 to Rs.50,000 according to the premium. But, no benefit is offered at maturity. The insured can take an additional accidental death rider of a sum assured equal to or greater than Rs.10,000.

Premium Payment

The premium is paid based on the age, gender, sum assured and benefit period chosen. The premium is paid yearly, half-yearly, quarterly or monthly. But, monthly mode payment can be done through ECS or demand draft only. Other modes that you can pay the premium is through cash, credit card, salary deduction, ECS, demand draft, direct debit, etc.

Riders

Accidental Death Rider is available with this plan. The option of additional sum assured for a sum equal to or greater than Rs.10,000 is paid to the nominee if the insured dies in an accident. The sum assured under this rider will not exceed the sum assured under the base product.

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.