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BSLI Fortune Elite Plan

BSLI Fortune Elite Plan is a unit linked life insurance savings plan offered by Birla Sun Life Insurance.The plan ensures that the investor’s wealth and assets are protected for the future. The plan not only offers protection but also helps the customer fulfill their financial goals.The plan comes with three flexible investment options with flexible payment terms and policy term.

Listed below are the three types of options provided by BSLI Fortune Elite Plan.

  • Systematic Transfer Option
  • Return Optimiser Option
  • Self Managed Option

Eligibility Conditions of BSLI Fortune Elite Plan

Eligibility type

Eligibility criteria

Minimum entry age

1 year

Maximum entry age

55 years

Minimum basic premium

Rs.40,000

Minimum sum assured

Rs.4,00,000

Premium payment term

5,10,15,20 years

Key Features of BSLI Fortune Elite Plan

Type

A non participating unit linked life insurance savings plan

Basis

Single

Coverage

  • Death benefit: On the unfortunate demise of the insured, the nominee will receive basic fund value or basic sum assured, whichever is higher.
  • Maturity benefit-Fund value will be paid as maturity benefit.
  • Surrender benefit-The policy can be surrendered any time during the policy term.

Investment options

  • Systematic Transfer Option
  • Return Optimiser Option
  • Self Managed Option

Premium payment mode

Monthly,quarterly,biannually,annually

Minimum Top up premium

Rs.5,000

Partial withdrawals

Partial withdrawals allowed

Policy loans

Policy loans are not available under this plan

Free look period

A free look period o 15 days is offered on the plan

Benefits and Advantages of BSLI Fortune Elite Plan

Listed below are the benefits and advantages of BSLI Fortune Elite Plan

  • Offers three flexible investment options
  • Offers the flexibility to choose from policy term of 20,25,30,35 and 40 years
  • Death benefit: On the unfortunate demise of the insured, the nominee will receive basic fund value or basic sum assured, whichever is higher.
  • Maturity benefit-Fund value will be paid as maturity benefit.
  • Surrender benefit-The policy can be surrendered any time during the policy
  • Guaranteed additional benefits-Additional benefits will be added onto the policy over time. Listed below are the additional benefits provided.
  • On 10 policy anniversary and on every 5 policy anniversary thereafter, Guaranteed Addition is 2.00% of the total premiums paid in the last 60 months
  • In addition on 11 policy anniversary and every policy anniversary thereafter, Guaranteed Addition is 0.35% of the average Fund Value in the last 12 months

How Does BSLI Fortune Elite Plan Work?

In this plan, the customer gets to choose from 3 flexible investment options according to their needs. The premium payment term, the premium amount, basic sum assured depends on the investment option chosen.

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

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