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  • BSLI Wealth Secure Plan

    The Birla Sun Life Wealth Secure Plan is your one-package solution to meet the needs of insurance cover and making an investment to help you out later in life. The plan has guaranteed additions and a surrender benefit, in the fortunate case that your family won’t be requiring the immense death benefit.

    Eligibility Conditions of BSLI Wealth Secure Plan

    Entry Age

    Minimum – 1 year

    Maximum – 60 years

    Key Features of BSLI Wealth Secure Plan

    Type

    A unit linked life insurance plan.

    Basis

    Single

    Coverage

    • Death Benefit

    In the event the life insured dies when the policy is in effect, then the greater of the following will be paid to the nominee:

    • Basic Fund Value as on the date of intimation of death
    • Basic sum assured.

    Additionally greater of the following is paid:

    • Top-up Fund value on the date on intimation of death
    • Top-up sum assured.

    Sum assured is reduced by the partial withdrawals made. Death benefit will never be less than 105% of the total premiums paid till date.

    • Guaranteed additions

    On the 10th policy anniversary and on the 5th policy anniversary thereafter, guaranteed addition of 2% on the total premiums is paid in the last 60 months.

    On 11th policy year and every policy year after that, 0.20% of guaranteed additions is paid on the Average Fund Value in the last 12 months.

    • Surrender benefit

    The policy can be surrendered at any time. And it will be treated as complete withdrawal.

    Premium paying term

    5 to 30 years

    Minimum PPT: Attained age at the end of the PPT must be 18 years and more.

    Maximum PPT: Attained age at the end of the PPT must be 75 years or less.

    Premium paying frequency

    Yearly, half-yearly, quarterly or monthly.

    Premium payable

    Annually- Minimum is Rs.20,000 per annum.

    Semi-annually- Minimum is Rs.30,000 per annum.

    Annually- Minimum is Rs.60,000 per annum.

    Top-up premium

    Minimum – Rs.5,000

    Bonuses

    Not available.

    Loan

    Not available.

    Free look period

    You get 15 days and 30 days in case the policy was issued under the IRDA guidelines.

    You need to submit a written reason for objection. The premium will be provided to you if you give a written notice for cancellation along with the policy document.

    Grace period

    The policyholder will get 30 days of grace period from the premium due date to make the payment. If there is a claim before the expiry of the grace period, then the sum assured paid will be reduced for the unpaid premiums.

    Tax benefits

    You can avail tax benefits under section 80C and Section 10(10D) of the Income Tax Act, 1961.

    Revival

    The lapsed policy can be revived in 2 years from the date of discontinuance.

    Charges

    1. Premium Allocation Charge:
      • 6% of basic premium payable in the 1-2 policy years.
      • 5.50% of basic premium payable in the 3-6 policy years.
      • 5% of basic premium payable from 7th policy year.
      • 2% is charged on top-up premium paid.
    2. Fund Management Charge:
      • 1% per annum for Liquid Plus, Income Advantage, Assure, Protector and Builder.
      • 1.25% per annum for Enhancer and creator.
      • 1.35% per annum for Magnifier, Maximiser, Multiplier, Super 20, Pure Equity and Value & Momentum.
    3. Policy Administration Charge:

      Rs.20 per month for first 5 policy years. From 6th year it will increase to Rs.25 per month subject to a maximum of Rs.6,000 per annum.

    4. Mortality Charge:

      Mortality charged is deducted for providing risk cover. Charge per 1,000 sum at risk depends on your age:

      Age

      Charge for Male

      Charge for female

      25

      1,546

      1,502

      35

      1,753

      1,605

      45

      3,040

      2,505

      55

      7,064

      5,494

      65

      16,267

      13,197

    5. Miscellaneous Charge:

      Rs.50 is charged for change in investment option subject to a maximum of Rs.500.

    6. Service Tax:

      Service tax as applicable will be charged.

    Investment Options:

    LifeCycle Option

    Based on your risk profile the investments are made. The proportions invested in Maximiser will be as below and the rest will be invested in Income Advantage:

    Age

    Conservative Risk (in %)

    Moderate Risk (in %)

    Aggressive Risk (in %)

    1-30

    50

    70

    90

    31-40

    40

    60

    80

    41-50

    30

    50

    70

    51-60

    15

    35

    55

    61-70

    0

    20

    40

    71+

    0

    5

    25

    Systematic Transfer Option

    Under this option, the premium will be allocated to Liquid Plus option and thereafter transferred to an investment fund of your choice. The transfer will take place monthly on 1st, 8th, 15th or on 22nd. The investment fund options are:

    • Enhancer
    • Multiplier
    • Super 20
    • Pure Equity
    • Value & Momentum

    Self-Managed Option

    With this option you have access to the 13 investment funds. You are given full freedom to switch anytime. The investment options are:

    • Liquid Plus
    • Income advantage
    • Assure
    • Protector
    • Builder
    • Enhancer
    • Creator
    • Magnifier
    • Maximiser
    • Multiplier
    • Super 20
    • Pure Equity
    • Value & Momentum

    Investment Funds:

    Investment Fund

    Risk Profile

    Asset Allocation (in %)

    Liquid Plus

    Very Low

    Debt Instruments:

    Minimum – 10

    Maximum – 100

    Money Market & Cash:

    Minimum – 0

    Maximum – 90

    Equities & equity related securities:

    Minimum – 0

    Maximum – 0

    Income Advantage

    Very Low

    Debt Instruments:

    Minimum – 60

    Maximum – 100

    Money Market & Cash:

    Minimum – 0

    Maximum – 40

    Equities & equity related securities:

    Minimum – 0

    Maximum – 0

    Assure

    Very Low

    Debt Instruments:

    Minimum – 10

    Maximum – 100

    Money Market & Cash:

    Minimum – 0

    Maximum – 90

    Equities & equity related securities:

    Minimum – 0

    Maximum – 0

    Protector

    Low

    Debt Instruments:

    Minimum – 90

    Maximum – 100

    Money Market & Cash:

    Minimum – 0

    Maximum – 40

    Equities & equity related securities:

    Minimum – 0

    Maximum – 10

    Builder

    Low

    Debt Instruments:

    Minimum – 80

    Maximum – 90

    Money Market & Cash:

    Minimum – 0

    Maximum – 40

    Equities & equity related securities:

    Minimum – 10

    Maximum – 20

    Enhancer

    Medium

    Debt Instruments:

    Minimum – 65

    Maximum – 80

    Money Market & Cash:

    Minimum – 0

    Maximum – 40

    Equities & equity related securities:

    Minimum – 20

    Maximum – 35

    Creator

    Medium

    Debt Instruments:

    Minimum – 50

    Maximum – 70

    Money Market & Cash:

    Minimum – 0

    Maximum – 40

    Equities & equity related securities:

    Minimum – 30

    Maximum – 50

    Magnifier

    High

    Debt Instruments:

    Minimum – 10

    Maximum – 50

    Money Market & Cash:

    Minimum – 0

    Maximum – 40

    Equities & equity related securities:

    Minimum – 50

    Maximum – 90

    Maximiser

    High

    Debt Instruments:

    Minimum – 0

    Maximum – 20

    Money Market & Cash:

    Minimum – 0

    Maximum – 20

    Equities & equity related securities:

    Minimum – 80

    Maximum – 100

    Multiplier

    High

    Debt Instruments:

    Minimum – 0

    Maximum – 20

    Money Market & Cash:

    Minimum – 0

    Maximum – 20

    Equities & equity related securities:

    Minimum – 80

    Maximum – 100

    Super 20

    High

    Debt Instruments:

    Minimum – 0

    Maximum – 20

    Money Market & Cash:

    Minimum – 0

    Maximum – 20

    Equities & equity related securities:

    Minimum – 80

    Maximum – 100

    Pure Equity

    High

    Debt Instruments:

    Minimum – 0

    Maximum – 20

    Money Market & Cash:

    Minimum – 0

    Maximum – 20

    Equities & equity related securities:

    Minimum – 80

    Maximum – 100

    Value & Momentum

    High

    Debt Instruments:

    Minimum – 0

    Maximum – 20

    Money Market & Cash:

    Minimum – 0

    Maximum – 20

    Equities & equity related securities:

    Minimum – 80

    Maximum – 100

    Advantages of BSLI Wealth Secure Plan

    • Limited premiums and whole life cover.
    • 3 investment options depending on your personal requirement.
    • Additional savings can be added to this plan in the form of top-ups.
    • In case of emergency fund requirements, this plan also gives you the flexibility to make partial withdrawals.
    • Tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961

    How The Plan Works

    Step 1: Pick your premium option based on your personal requirements.

    Step 2: Pick your basic Sum Assured, which is basically the death benefit that will be payable to your nominee in the unfortunate event of your demise.

    Step 3: Pick the premium payment mode – annually, semi-annually, quarterly, and monthly.

    Step 4: Pick one of the 3 investment options based on your personal requirement and risk appetite, between the LifeCycle Option, Systematic Transfer Option, and Self-Managed Option.
    Step 5:
    Pick any rider that suits your needs.
    Step 6: Pay your premiums in a timely manner and watch your wealth grow while also enjoying the benefits of life insurance coverage.

    Premium Payment

    • Premium paying term is 5 to 30 years.
    • Minimum PPT: Attained age at the end of the PPT must be 18 years and more.
    • Maximum PPT: Attained age at the end of the PPT must be 75 years or less.
    • Premiums paying frequency: Yearly, half-yearly, quarterly or monthly.
    • Premium payable:
      • Annually- Minimum is Rs.20,000 per annum.
      • Semi-annually- Minimum is Rs.30,000 per annum.
      • Annually- Minimum is Rs.60,000 per annum.

    Riders

    • Birla Sun Life Surgical Care Rider: A lump sum benefit becomes payable in case of hospitalization for surgery.
    • BSLI Hospital Care Rider: This rider adds a daily cash benefit in the case of hospitalization. An enhanced daily cash benefit also becomes payable in the case of hospitalization in an Intensive Care Unit (ICU). In case hospitalization lasts for more than 7 days for the same disease, a lump sum benefit becomes payable to you.
    • BSLI Waiver of Premium Rider: If you are unable to pay policy premiums due to a disability, critical illness or an untimely demise, all future premiums of the base plan and the attached riders will be paid by the company and all policy benefits will continue.
    • BSLI Accidental Death and Disability Rider: This Rider Sum Assured (up to a maximum of Rs.50,00,000) is payable to your nominee in case of death by accident. In the event of disability due to an accident, you will receive a fixed percentage of the Rider Sum Assured, depending on the type of injury.
    • BSLI Critical Illness Rider: On diagnosis of Heart Attack, Cancer, Major Organ Transplant or Stroke, you will receive up to 100% of the Rider Sum Assured.
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