BSLI Vision Star Plan is a traditional Money Back Child Plan designed to secure the child’s future even if the parent is not around thus giving the parent peace of mind
Invest ₹10k/month your child will get ₹1 Cr# Tax-Free*
It is a participating plan with limited premium payment option
There are 2 plan options of Option A and Option B
Under option A, two payouts of 20% of SA and two of 30% of SA is paid every two years 5 years after the completion of the PPT
Under Option B, 5 payouts @ 15%, 15%, 20%, 20% and 30% of SA is paid every year 5 years after the completion of PPT
Simple reversionary bonus and terminal bonus add to the corpus
On death of the policyholder, future premiums are waived off and the benefit will be paid which will be SA on death subject to a minimum of 105% of premiums paid till death
Sum Assured on death is higher of the SA chosen or 10 times the annual premium
The annual payouts as chosen under the Options available will be paid as they accrue and accrued reversionary bonuses including Terminal Bonus, if any is paid on maturity
The annual payouts can be deferred which will enhance the amount of payouts
On Maturity, the accrued Reversionary Bonuses and Terminal Bonus is paid to the policyholder
Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
Minimum | Maximum | |
Entry Age (Last Birthday) | 18 years | 55 years |
Maturity Age (Last Birthday) | - | 75 years |
Policy Term (PT) in years | 14 / 16 | 21 / 23 |
Premium Paying Term (PPT) in years | 5 | 12 |
Premium Paying Frequency | Annual, half-yearly, quarterly, monthly | |
Premium | Depends on SA, age, term and PPT | |
Sum Assured | 100,000 | No limit |
Annual premium in Rupees for a 40 year old male with a term of 21 years and PPT of 15 years under Option A
Premium | 22,392 |
Sum Assured | 250,000 |
Assured payout in 15th and 17th year | 50,000 |
Assured payout in 19th and 21st year | 75,000 |
Maturity Benefit @ 4% | 42,000 |
Maturity Benefit @ 8% | 241,500 |
Grace Period: 30 days’ grace period is allowed for premium payment in all modes. 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 ) – Annual Payouts already received or deferred
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
Rebates in premium for choosing annual and semi-annual mode @ 3% and 1.5% respectively
High SA rebates are also allowed
In case of suicide committed within 12 months of policy inception or revival only the premiums paid or the Surrender Value is refunded
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.