BSLI Vision Endowment Plan
BSLI Vision Endowment Plan is a traditional Endowment Plan which aims to facilitate savings to build a strong corpus for future requirements and also provide life insurance benefits.
It is a participating plan with limited premium payment option
There is an inbuilt Accidental Benefit Rider
Simple reversionary bonus, Interim Bonus and terminal bonus add to the corpus
Details About Premium
Annual premium in Rupees for a 35 year old male with a term of 20 years and PPT of 10 years
Grace Period: 15 days grace period is allowed for premium payment in monthly mode and 30 days in annual and half-yearly mode. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 2 / 3 full years premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = (GSV % of Premiums paid + GSV% of vested Bonuses)
Free look period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Loan is available under the plan with a minimum amount of Rs.5000 and maximum of 85% of the Surrender Value
Additional Features or Riders
Rebates in premium for choosing annual and semi-annual mode @ 5% and 2% respectively
High SA rebates are also allowed
BSLI Waiver of Premium Rider is also available under the plan
In case of suicide committed within 12 months of policy inception or revival only the premiums paid or the Surrender Value is refunded
In case of accidental benefit rider, accidents due to service in the army, self-inflicted injury, alcohol abuse, aviation, acts of criminal nature, war or terrorism, participating in hazardous activities, etc. are excluded