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BSLI Future Guard Plan

BSLI Future Guard Plan is a traditional non-participating term plan with return of premium which takes care of the policyholder’s family in the unfortunate death of the policyholder and also provides guaranteed maturity benefits after the end of the policy term

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Key Features

It is a traditional non-participating plan regular premium payment option
There are 2 plan option of Plan A and Plan B where 100% of the premiums paid are returned under Plan A and 110% to 150% of premiums returned is paid under Plan B depending on the term plan chosen

Benefits

On Maturity the Guaranteed Sum Assured on Maturity is payable which is equal to basic SA including accrued Guaranteed Additions @ 7% and vested Simple Reversionary Bonuses
On death, the nominee gets the SA on death
Sum Assured on death is the higher of :
- Basic SA or Maturity SA
- 10 times the annual premium
- 105% of all premiums paid till death
- Income tax benefit on the premium paid as per Section 80C and on the claim received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	65 years
Maturity Age (Last Birthday)	18 years	75 years
Policy Term (PT) in years	10	30
Premium Paying Term (PPT) in years	Equal to policy term
Premium Paying Frequency	Annual, half-yearly, quarterly, monthly
Yearly Premium	Depends on SA, age, term
Sum Assured	500,000	No limit

Details About Premium

Annual premium in Rupees for 30 year old male and female with SA 7.5 Lakhs

Term / Plan Type	Male			Female
Term / Plan Type	10 years	15 years	20 years	10 years	15 years	20 years
Plan A	11,812	10,148	8827	11,310	9578	8220
Plan B	19,065	18,082	14,400	18,255	17,160	13,643

Policy Details

Grace Period: 30 days grace period is allowed for payment of premium. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the plan after 3 full years’ premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
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.

Inclusions

Loans are not available

Additional Features or Riders

Female policyholders are charged lower rates
The plan provides 5 riders to aid customization. They are:
- BSLI Accidental Death & Disability Rider
- BSLI Critical Illness Rider
- BSLI Surgical Care Rider
- BSLI Hospital Care Rider
- BSLI Waiver of Premium Rider

Exclusions

If suicide is committed within 12 months of policy commencement or revival, higher of total premiums paid or acquired Surrender Value is refunded

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and required KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.