Talk to our Experts Talk to our Experts 1800-12000-0055

BSLI Vision Star Plan

What is the Plan all About?

BSLI Vision Star Plan is a traditional participating insurance plan, which is designed to provide for important milestones for your child. It thus assures you that nothing will prevent your child’s dream from turning into reality.

Get Quotes

What are the Key Features?

  • Comprehensive financial protection for your family
  • Waiver of future premiums on insured’s death
  • Assured payouts
  • Boost savings by accrued bonuses
  • Flexible premium paying term
  • Enjoy Sum Assured Rebate
  • Premium rebate on annual and semi-annual payment
  • Get tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of death of the life insured during the term of the policy, the death benefit payable is Sum Assured on Death plus Assured Payouts on the scheduled dates plus bonuses accrued till policy maturity date and terminal bonus. Waiver of all future premiums is also applicable after death of the life insured.

    Sum Assured on Death is the higher of Sum Assured chosen at inception or 10 times the annual premium payable. The death benefit payable is subject to a minimum of 105% of total premiums paid.

Maturity Benefit

    In case of survival of the life insured, Accrued bonuses plus Terminal bonus is payable at maturity of the policy. The policy gets terminated after payment of the maturity benefit.

Bonus

    The Company may declare Simple Reversionary Bonus regularly at the end of every financial year and it is added on its policy anniversary. Bonuses once attached are payable along with the interim bonuses, as applicable on maturity or surrender.

    Terminal Bonus is payable on maturity or surrender of the policy, whichever is earlier. The company pays the terminal bonus on the basis of the actual experience and the prevailing economic conditions.

Assured Payout Option

    Option A – 4 biannual payouts of 20%, 20%, 30% & 30%. 5 years after completion of the premium paying term, there will be an Assured Payout in every two years.

    Option B – 5 annual payouts of 15%, 15%, 20%, 20% & 30%. 5 years after completion of the premium paying term, there will be an Assured Payout in every year.

Loan Benefit

    The minimum loan amount that can be availed under this policy is Rs 5,000 and the maximum up to 85% of your surrender value.

Surrender Value

    Surrender Value payable is higher of Special Surrender Value or Guaranteed Surrender Value. The policy will acquire a surrender value on payment of at least 2 full policy year’s premium, when premium payment term is less than 10 years and it can be acquired on payment of at least 3 full policy year’s premium, when premium payment term is 10 years or above.

Tax Benefit

    You can avail tax benefits under section 80C & 10 (10D) of the Income Tax Act. Tax benefits are applicable, as per the prevailing tax laws.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 55 Years
Age at Maturity - 75 Years
Policy Tenure 16 Years (option A), 14 Years (option B) 23 Years (option A), 21 Years (option B)
Premium Paying Term (PPT) 5 Years 12 Years
Premium Paying Mode Annually, Semi Annually, Quarterly & Monthly -
Premium Amount Depends On The Sum Assured -
Sum Assured Rs 1,00,000 -
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days -
Plan Type Offline -

Is any Rider Available with this Plan?

No rider can be opted under this plan.

How the Plan Works?

Mr. Prakash at 40 years of age, opts to buy BSLI Vision Star Plan with the policy term of 21 years, premium payment term of 10 years, annual premium amount of Rs 22,392 and sum assured of Rs 2,50,000. Plan option chosen is option A and payout frequency is biannual.

Scenario A: Prakash Survives the Policy Term

In case of survival of the life insured, Accrued bonuses plus Terminal bonus is payable at maturity of the policy.

Scenario B: Prakash dies during the Term of the Policy

In the event of death of the life insured during the term of the policy, the death benefit payable is Sum Assured on Death plus Assured Payouts on the scheduled dates plus bonuses accrued till policy maturity date and terminal bonus.

Benefit Illustration:

BSLI Vision Star Plan Benefit Illustration

Why Comparepolicy.com
Unbiased information on plans from varied insurance companies
Easy comparisons to choose the best insurance plan
No hidden costs, pay the same premium as offered by the insurer
Pre and post sales expert assistance for smooth online buying experience
Reliable, Accurate and Quick policy servicing