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BSLI Wealth Aspire Plan

BSLI Wealth Insurance plan is a unit linked insurance plan that provides the insured life cover along with a chance to build on their wealth. The BSLI plan offers personalised wealth creation options to the insured. The insured can choose from a wide range of policy terms and 4 investment options to build on their wealth. The insured has the option of choosing their basic sum assured and basic premium.

Key Features of BSLI Wealth Aspire Plan

Listed below are the key features of BSLI Wealth Aspire Plan

  • The plan offers the flexibility of choosing from a wide range of policy terms
  • The insured has an option of choosing premium payment options ranging from 5 to 40 years
  • The plan offers four types of investment funds to choose from to suit your investment needs
  • The plan also offers the option of adding top ups when needed
  • Partial withdrawal is allowed in emergency financial situations
  • The plan offers tax benefits under section 80C and section 10D under the Income Tax Act, 1961
  • The plan offers surrender benefit
  • Systematic transfer option is available under the plan
  • Hassle free application process
  • Minimum documentation
  • Dedicated team of customer service

Benefits of BSLI Wealth Aspire Plan

Listed below are the benefits offered for BSLI Wealth Aspire Plan

  • Offers the option of four investment funds
  • Death benefit-In the event of unfortunate death of the insured, the nominee will either receive the basic sum assured as the death benefit or they will receive the basic fund value as death benefit depending on whichever is higher.
  • Maturity benefit- The fund value will be paid at the maturity as maturity benefit
  • Surrender benefit- The policyholder can surrender the policy anytime during the policy term if there is an emergency.Such surrender of the policy will be treated in accordance to complete withdrawal as mentioned in Policy Discontinuance Policy.
  • Tax benefit- The policy qualifies for tax benefits under section 80C and 10D of the Income Tax Act
  • Partial withdrawals- Partial withdrawal is allowed under the policy

Eligibility Criteria for BSLI Wealth Aspire Plan

Listed below is the eligibility criteria of BSLI Wealth Aspire Plan

  • Minimum age- 30 days
  • Maximum age- For 5 Pay: 50 years

For 6 Pay & 7 Pay: 55 years

For 8 pay and above: 60 years

  • Maturity age- 18 to 70 years
  • Minimum policy term- 10 years
  • Maximum policy term- For 5 pay: 20 years

For 6 Pay : 35 years

For 7 pay and above: 40 years

  • Premium payment terms- 5 to 40 years
  • Minimum sum assured- Rs.3,00,000
  • Minimum top up premium- Rs.5,000

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

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