• BSLI Vision MoneyBack Plus Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Life is unpredictable. There is only so much you can do to make sure you are prepared for any eventuality. Nevertheless, the first step towards ensuring that you do not compromise on your desires is planning for a financially secure life. You need money at every stage of life. You would, therefore, do well to invest wisely so your dreams are not left unfulfilled.

    Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, an Indian conglomerate and Sun Life Financial Inc, an international financial service organisation from Canada. Birla Sun Life Insurance (BSLI) offers Vision MoneyBack Plus Plan, a traditional participating plan, which provides lump sum payouts to the insured at regular intervals, thereby, ensuring financial security. BSLI Vision MoneyBack Plus Plan offers guaranteed liquidity (payouts as a percentage of sum assured) and financial protection to your family.

    Eligibility Conditions of BSLI Vision MoneyBack Plus Plan

    Entry Age

    13 – 45 years

    Policy Term

    20, 24, 25 years

    Minimum Sum Assured

    Rs.1,00,000

    Band 1

    Band 2

    Band 3

    Band 4

    100,000 to 199,999

    200,000 to 399,999

    400,000 to 799,999

    800,000 +

    Key Features of BSLI Vision MoneyBack Plus Plan

    Type

    Traditional participating life insurance plan

    Basis

    Individual

    Coverage

    • Death Benefit

    In the event of the death of the life insured during the policy term, the death benefit payable to the nominee is the Sum Assured on Death in addition to the accrued regular bonuses and terminal bonus, if any.

    Sum Assured on Death is the maximum cover opted by the customer at the time of inception irrespective of any survival benefits paid or 10 times the annual premium.

    The death benefit is subject to a minimum of 105% of total premiums paid and applicable rider premiums and underwriting extras. The policy is terminated after the death benefit is paid.

    • Survival benefit

    On every 4th or 5th policy anniversary, the policyholder will receive a survival benefit as a percentage of the Sum Assured. The survival benefits will continue as long as the life insured is alive within the policy term. The payouts are a specified percentage of sum assured.

    • Maturity Benefit

    If the life insured survives till the end of the policy term, he or she will be paid accrued bonuses in addition to terminal bonus. The policy will be terminated after the maturity benefit is paid.

    Premium range

    BSLI offers a premium rebate of 5.0% and 2.0% for annual and semi-annual payments respectively

    Premium paying term

    10 years for a 20-year policy term

    12 years for 24 and 25 year policy terms

    Premium paying frequency

    Annual, Semi-annual, Quarterly and Monthly

    Bonuses

    Regular

    Simple reversionary bonuses are declared regularly at the end of each year and added on the policy anniversary. Bonuses in addition to interim bonuses, are payable as applicable on maturity, surrender or death. The Surrender Value of the attached bonuses

    will be payable.

    The regular bonus rate may change on a yearly basis and depends on the current economic conditions.

    Future bonuses are not guaranteed and will depend on the profits earned by the organisation.

    Terminal

    Terminal bonus may be paid on maturity, surrender or death, if earlier, on the basis of the prevailing economic conditions.

    Surrender Value

    A policy will acquire a Surrender Value after all premiums for three years are paid. The Guaranteed Surrender Value is a percentage of premiums paid (except premiums paid towards rider benefit, service tax and underwriting) in addition to the Surrender Value of accrued regular bonuses minus any survival benefit already paid.

    The Guaranteed Surrender Value will depend on the premium-paying term in addition to the year the policy is surrendered.

    Loan

    Customers may avail of a loan against a policy after it acquires a Surrender Value. The minimum loan amount which can be availed is Rs.5,000 while the maximum is 85% of the Surrender Value.

    Freelook period

    Customers can return the policy within 15 days (30 days if the policy is issued under IRDA guidelines on distance marketing) from the policy receipt. The premium paid will be refunded.

    Grace period

    If customers can’t pay their premiums by the due date, they will be given a grace period of 30 days. If premiums have not been paid for three years, the benefits will cease with immediate effect.

    If premiums have been paid for at least three years, the policy will continue on a reduced paid-up basis.

    Reinstatement

    Customers can reinstate the policy within two years from the date of the first unpaid premium by paying outstanding premiums in addition to interest.

    All benefits under the policy will be restored to their full value following reinstatement.

    Advantages of BSLI Vision MoneyBack Plus Plan

    Tax benefit for premium

    This plan offers tax benefits under section 80C and section 10 (10D) of the IT Act, 1961

    Reduced Paid-up Benefits

    If customers discontinue the payment of premiums after three years, their policy will not lapse but instead continue on a reduced paid-up basis wherein the Sum Assured and Sum Assured on Death will be reduced in proportion to the premiums paid to the total premiums payable during the policy term.

    The accrued bonuses up to the first unpaid premium will, however, not be reduced. Any bonus for the policy year of premium discontinuance will be reduced in proportion to the unpaid premiums and there will be no further accrual of bonuses.

    In the event of the death of the life insured, the nominee will receive the reduced Sum Assured on death plus accrued regular bonuses.

    Premium Rebate

    The premium rebate offered by BSLI for higher sum assured is listed below

    Sum Assured Band

    Band 1

    Band 2

    Band 3

    Band 4

    Premium rebate per 1000 of SA

    Nil

    1

    5

    7

    Premium Payment

    Survival Benefit Year

    10/20

    12/24

    4

    10%

    10%

    8

    15%

    15%

    12

    20%

    20%

    16

    25%

    25%

    20

    30%

    30%

    24

    -

    35%

    Survival Benefit Year

    10/20

    12/24

    5

    15%

    15%

    10

    20%

    20%

    15

    25%

    25%

    20

    40%

    30%

    25

    45%

    Riders

    Policyholders can enhance their insurance coverage during the policy term by opting for any of the following riders for a nominal extra cost

    BSLI Accidental Death and Disability Rider

    BSLI Critical Illness Rider

    BSLI Surgical Care Rider

    BSLI Hospital Care Rider

    BSLI Waiver of Premium Rider

    How The Plan Works

    Sreenivas Rao, a 35-year-old advertising executive opts for BSLI Vision MoneyBack Plus Plan. He chooses a policy term of 20 years, sum assured of Rs. 2,50,000.

    Sum Assured - Rs.2.50,000

    Policy Term- 20 years

    Premium- Rs.26,225

    Premium Payment Term- Yearly

    Premium Frequency - Yearly

    Survival Benefits - Five years

    Interest Rate*- 8%

     

    Policy Year

    Guaranteed survival benefit

    5

    37,500

    10

    50,000

    15

    62,500

    20

    1,00,000

    Rao can expect a maturity benefit of Rs. 2,25,000 at the end of his policy term. If Rao dies, his family will get the guaranteed death benefit of Rs.2,25,000 plus accrued regular bonus.

    *Rates are subject to change. Please contact the company to get the rates applicable at the time of policy purchase.

    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 Vision MoneyBack Plus Plan Reviews

  • Page 1 of 17 1 2 3 4 5
    • Birla Sun Life Insurance
      "Best policy"
      0.5 4.5/5 "Excellent!"
      I had taken a Life insurance from Birla sun life insurance . It has good benefits with accidental coverage and critical illness coverage with normal premium amount . The policy coverage is 60 years with tenure period of 20 years . I pay the payment annually through on-line banking through NEFT.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • 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
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