Introduction/Overview
BSLI Wealth Max Plan is a Unit Linked Insurance plan providing the dual benefit of capital appreciation through market participation and life insurance coverage. The plan is a single pay plan where premium once paid accumulates at market returns.
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
3 years |
60 years |
Maturity Age (Last Birthday) |
- |
75 years |
Policy Term (PT) in years |
7, 10, 15 |
|
Premium Paying Term (PPT) in years |
Single Pay |
|
Single Premium |
100,000 for term 10&15 yrs. 500,000 for term 7 years |
No limit |
Sum Assured |
1.25 or 5 or 10 times the Single Premium |
No limit |
Grace Period: no application of grace period in single pay plans
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
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.
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.
†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. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). 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
*Please note that the quotes shown will be from our partners
^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.
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