• BSLI Income Assured Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    There is a dreamer in all of us, a dreamer who hopes to fulfil the needs of everyone he loves. Fulfilling these needs might be hard, but they aren't impossible, all they need is right planning. Birla Sun Life Insurance Income Assured Plan is a protection plan which helps you plan for your dreams, helping you meet your financial obligations. This plan offers a healthy mix of monthly income and financial security, protecting both you and your family from any unforeseen incident.

    Eligibility Criteria of BSLI Income Assured Plan

    Entry Age

    Minimum – 8 years

    Maximum – 60 years

    Maturity Age

    Maximum – 75 years

    Minimum Sum Assured

    Rs 1,00,000/-

    Key Features of BSLI Income Assured Plan

    Type

    Traditional non-participating savings protection plan

    Coverage

    Death Benefit – In the event of death of life insured during policy term, the nominee receives the Sum assured plus the guaranteed additions accrued till date of demise.

    Maturity Benefit – On maturity, a life insured will be given the sum assured and the guaranteed additions accrued till date of maturity.

    Basis

    Individual

    Premium paying term (PPT)

    5 years for 15 year policy term

    7 years for 17/22 year policy term

    10 years for 20/25 year policy term

    Premium paying modes

    Monthly, quarterly, half-yearly and yearly

    Minimum PPT

    Policyholder should have attained a minimum age of 18 years at end of PPT

    Maximum PPT

    Policyholder should be less than 65 years at end of PPT

    Renewability

    Lapsed policies can be renewed within 2 years of first unpaid premium by clearing all outstanding dues

    Grace period

    Yearly, half yearly and quarterly payment mode – 30 days

    Monthly payment mode – 15 days

    Loans

    Minimum – Rs 5,000/-

    Maximum - Loans upto 85% of surrender value can be obtained under this policy.

    Free Look Period

    A 15 day Free Look period is provided (30 days in case of policies sold through distance marketing) wherein a policyholder can return a policy if he/she does not agree with any terms and conditions of this plan.

    Advantages of BSLI Income Assured Plan

    Tax Benefits

    Policyholders get tax benefits for premiums under Section 80C of IT Act and benefits under Section 10 (10D) for any settlement.

    Assured Income

    Policyholders get assured income on maturity (monthly payment or lump sum option).

    Customization

    Policyholders can choose to customise their policies with additional riders which offer enhanced benefits.

    How The Plan Works

    Individuals who opt for this plan are required to pay an annual premium for the duration of their policy term. These premiums determine the death benefit and guaranteed income benefit, with both these amounts varying according to the premium amount. Individuals can opt for either a lump sum payment at maturity or a monthly payment mode, depending on their needs.

    For example, Mr. Anil is a 35 year old businessman who opts for a cover of Rs 5,00,000 under this plan. The policy term is 20 years with a 10 year premium paying term. He opts for a yearly payment mode and pays Rs 72,440 towards his premium. The table below will highlight the benefits he is entitled for.

    Policy year end

    Premium paid

    Cumulative Guaranteed Addition (Rs)

    Guaranteed death benefit (Rs)

    Guaranteed assured income benefit (Rs)

    Guaranteed maturity benefit (Rs)

    Year 1 to 10

    Rs 7,24,400

     

    724396

       

    11

     

    50000

    810616

    40000

     

    12

     

    100000

    860616

    40000

     

    13

     

    150000

    910616

    40000

     

    14

     

    200000

    960616

    40000

     

    15

     

    250000

    1010616

    40000

     

    16

     

    300000

    1060616

    40000

     

    17

     

    350000

    1110616

    40000

     

    18

     

    400000

    1160616

    40000

     

    19

     

    450000

    1210616

    40000

     

    20

     

    500000

    1260616

    40000

    1000000

    Premium Payments

    Premiums need to be paid depending on the term of a policy, with different policy terms having different premium payment durations. One needs to pay 5 annual premiums for a 15 year policy term, 7 annual premiums for a 17 or 22 year policy term and 10 annual premiums for a 20 or 25 year policy term.

    Riders

    Policyholders can opt for the BSLI Waiver of Premium rider by paying an additional premium.

    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

    BSLI Income Assured Plan Reviews

  • Page 1 of 16 1 2 3 4 5
    • Birla Sun Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a Life insurance policy with the Birla Sunlife, I never faced any issues with their services. The premium is auto debited from my account via ECS and overall it is a good policy to have. I'll have to wait and see whether they adhere to their promises in future.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2018
    • Birla Sun Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've two life insurance polcies with the Birla Sun Life. I make a payment of 10200 per month, the premium gets auto debited from the account via ECS which is more convenient for me. Their customer support is also good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2018
    • Birla Sun Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a life insurance policy with Birla Sun life from last 3 years and it is a long term plus money back policy. The tenure of this life insurance policy is 30 years and the money back gets accumulated in the account. I pay my premium once in a year and i am convenient with the payment options. I am also happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2018
    • Birla Sun Life Insurance
      "good policy"
      0.5 5.0/5 "Blown Away!"
      I had applied and got a Life insurance policy from Aditya Birla Group companies "BIRLA SUN LIFE INSURANCE". I can prefer on line payments type to renew my life insurance policy with in due time. The customer service is good and well responsive. The premium amount is affordable by comparing to other premiums.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 28, 2018
    • Birla Sun Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I am having a life insurance policy with Birla Sun life from last 13 years and it is a long term policy. The tenure of this life insurance policy is 30 years. I pay my premium on annual basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , panipat
      Reviewed on Feb 12, 2018
    • Birla Sun Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I am having a life insurance policy with Birla Sun Life insurance from last 5-7 years and it is a good insurance policy to use. This is a long term policy and the tenure of this policy is 15 years. My premium amount gets auto deducted every month through ECS. The coverage is good and the benefits of this policy is up to the mark.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Feb 01, 2018
    • Birla Sun Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken 3 policies with Birla. I am using this service for 3 years. They offering good benefits and it was more stable. The online services are good and convenient. Those 3 policies are money back and the tenure period is 21 years. I pay the premium through net banking which was easy.
      Was this review helpful? 0
      , thane
      Reviewed on Jan 25, 2018
    • Birla Sun Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with Aditya Birla from last 5 years and it is a very good policy to use. The validity of this life insurance policy is lifetime. I pay a premium of Rs 12000 on annual basis and i am convenient with the payment options. The coverage and benefits are also good in this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 12, 2018
    • Birla Sun Life Insurance
      "Average policy to use"
      0.5 3.0/5 "Satisfactory"
      I have a life insurance policy with Birla sun life from last 4 years and it is a long term policy. The tenure of this life insurance policy is 21 years and i pay my premium once in 3 months through online and the payment options are convenient for me. I have a coverage amount of Rs 6.5 lakhs and the returns are not good in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 12, 2017
    • Birla Sun Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      The Birla Sun life has offered me the Life insurance policy and their customer support is not up to the mark. The customer support will not even give any response and they are very rude to the customers and I got the endowment plan with the Birla sun life around 4months ago, I pay the premium of Rs,7500 every 3 months once.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 11, 2017
    • Birla Sun Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Birla sun life insurance company. I would like to say that the customer service is good one for me and the plan benefits are really fine . I am happy with the Birla sun life insurance company.......
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 11, 2017
    • Birla Sun Life Insurance
      "Good return"
      0.5 4.0/5 "Great!"
      I have taken a Child Plan with Aditya Birla. The maturity period of the Insurance is 15 years. I have been making the payment Half Yearly basis. Their Customer service is handled by a third party vendor, who are doing absolutely good job. The overall experience with them has been good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 01, 2017
    • Birla Sun Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My life Insurance was with BIRLA . The tenure period was 14 years and premium paid on yearly basis. They are providing door step service for collecting cheques and Its a tax benefit. MY Overall experience was excellent and I would like to recommend to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • Birla Sun Life Insurance
      "Best policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a life insurance policy with Aditya birla and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium on annual basis through credit card and i am also convenient with the payment options which they are providing. Their online system is also good, i am also fine with the coverage and benefits in this policy.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Nov 11, 2017
    • Birla Sun Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using the Life Insurance policy with Birla sun life and it is a pension plan policy. This policy has the term of 58 years. I pay the premium of Rs,1000 every month. I pay the premium through my savings account, It is getting auto deducted from my savings account. The plan benefits and the policy coverage is good with this policy.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 10, 2017
    • Birla Sun Life Insurance
      "Firm believer in Life insurance"
      0.5 3.0/5 "Satisfactory"
      I am firm believer of the Life Insurance, accordingly I have couple of them maintained. This is one of the Insurance that I am so confident about. I pay around Rs.17000 as the yearly installment and would be paying for about 10 years. The overall experience with them has great. They provide you with good amount details required for somebody to know.
      Was this review helpful? 0
      , motihari
      Reviewed on Nov 07, 2017
    • Birla Sun Life Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Aditya Birla life insurance company and I been with them from the last ten years of time. Initially the services were really good but now its not really up to the mark with them.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Nov 04, 2017
    • Birla Sun Life Insurance
      "Good Policy to hold"
      0.5 4.5/5 "Excellent!"
      I have a Life Insurance policy with BIRLA SUN LIFE INSURANCE. This life insurance is paid by my company which is also BIRLA SUN LIFE INSURANCE. It covers only me and this will be given to my nominee and the total life coverage amount is 50 lakhs rupees.
      Was this review helpful? 0
      , guntur
      Reviewed on Oct 31, 2017
    • Birla Sun Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I got Birla sun life insurance policy on 2013. The customer support is good with Birla sun life. This policy has the tenure of 10 years. The plan benefits and the coverage are good with this policy. I pay the premium of Rs,30,000 every year towards this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 30, 2017
    • Birla Sun Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I am holding Birla Sun life insurance policy from last 12 years and it is a long term policy. The tenure of this policy is 20 years. I pay my premium on annual basis through online and i am convinient with the payment options which they are providing. I also get good benefits in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 27, 2017
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