The BSLI Wealth Max Plan ULIP is a single premium unit linked plan insurance plan that provides financial protection to the families of policyholders and offers good returns. The plan is offered by Birla Sun Life Insurance, among the foremost life insurance providers in the country. ULIPs are generally subject to different risk factors and the investment risks of the plan are borne by the policyholder.
Eligibility Conditions of BSLI Wealth Max Plan ULIP
Entry Age |
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Policy term |
7 years, 10 years or 15 years |
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Basic premium minimum |
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Sum Assured |
1.25, 5, 10 times the basic premium paid as per policy term and age
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Key Features of BSLI Wealth Max Plan ULIP
Type |
Single Premium Unit Linked Insurance Plan (ULIP) |
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Coverage |
Death Benefit – In the unfortunate event of death during the policy term, the beneficiary will receive the larger of
Surrender Benefit – If policy is discontinued in the first 5 years, the fund value will be transferred after deducting policy discontinuation charges. The Fund Value will be transferred as it is with discontinuation charges from 5th policy year. Maturity Benefit – Fund value Guaranteed Additions – Additional units according to:
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Basis |
Individual |
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Policy term |
7, 10 or 15 years (fixed) |
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Premium paying term |
Once |
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Premium payment frequency |
Single Premium |
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Loans |
Loans cannot be availed against this plan |
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Policy charges |
Premium allocation charge, policy administrative charge, fund management charge and mortality charge. Premium Allocation Charge: 3% on basic premium, 2% on top-up premium Fund Management Charge:
Policy Administration Charge: Rs.20 per month for first 5 policy year. Rs.25 from 6th policy year inflating at 5% p.a. subject to a maximum of Rs.6,000 p.a. Mortality Charge: Charge per 1000 of Sum at Risk
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Free Look Period |
15 days free look period (30 days for policies sold through distance marketing channels) is offered wherein a policyholder may return the policy if he/she is not agreeable to terms and conditions of the plan. Refund of premium will be processed after adjustments for stamp duty, medical examination and proportionate risk premium for period covered. |
Advantages of BSLI Wealth Max Plan ULIP
Tax Benefits |
Tax benefits are available under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. You should consult your tax advisor for more details. |
Partial Withdrawal |
Unlimited partial withdrawals allowed after 5 complete policy years or insured attains 18 years of age, whichever is later. Minimum partial withdrawal of Rs.5,000. |
Wide range of funds |
13 different fund option available for investments consisting of flexible portfolio choices from 100% debt investments to 100% equity investments.
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Riders |
NA |
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017