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  • BSLI Bima Dhan Sanchay Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Most of us do not buy a life insurance plan as we think that we will not benefit from the premiums we pay if we do not face any eventuality during the policy term. We all would love to buy a life insurance cover if we are told that the premiums we pay will be returned to us when the policy matures. Birla Sun Life Insurance understand the psychology of their customers and has introduced the Bima Dhan Sanchay. This plan not only offers you a comprehensive life insurance cover but also refunds the premiums paid by a policyholder on the maturity date of the policy.

    Have you ever thought of the financial security of your family in your absence? How would they handle their expenses without your income in case of an eventuality? Leave your loved ones fully funded by purchasing the Birla Sun Life Insurance Bima Dhan Sanchay Plan. This plan makes sure that your family is financially secure even if you are not around.

    Eligibility – Who is the Birla Sun Life Insurance Bima Dhan Sanchay Plan for?

    Individuals will have to meet the below-mentioned eligibility criteria, to be eligible to purchase the Birla Sun Life Insurance Bima Dhan Sanchay Plan:

    Parameter Details
    Plan Type Non-unit-linked, Non-participating Insurance Plan
    Minimum Entry Age   18 years for 5, 10, and 15 years.
    Maximum Entry Age 60 years for 5-year policy, 55 years for 10-year policy, and 50 years for 15-year policy.
    Maximum Maturity Age 65 years
    Policy Term 5, 10, and 15 years

    Sum Assured and Premium Range – What You Get and What It Costs

    Birla Sun Life Insurance Bima Dhan Sanchay Plan offers a sum assured amount. Refer to the below table for more details on the sum assured amount and premium details.

    Parameter Details
    Minimum Sum Assured Rs.5,000
    Maximum Sum Assured Rs.50,000
    Premium Payment Frequency Yearly, half-yearly, quarterly, and monthly
    Premium Paying Term(PPT) 5, 10, and 15 years
    Modal Factors  
    Mode Modal premium as % of annualised premium
    Semi-annual 51.0%
    Quarterly 25.8%
    Monthly 8.70%

    Plan Coverage – What the Birla Sun Life Insurance Bima Dhan Sanchay Plan Covers

    There are many benefits under the Birla Sun Life Insurance Bima Dhan Sanchay Plan. Some of the benefits are as follows:

    • No medical tests are required to purchase this plan.
    • Minimal documentation
    • Policyholders can make premium payments by cash, direct debit, demand draft, ECS, credit card, salary deduction, etc.

    Other benefits and features of the Birla Sun Life Insurance Bima Dhan Sanchay Plan are as follows:

    Death Benefit In the event of the death of the insured person, the death benefit will be payable under the Birla Sun Life Insurance Bima Dhan Sanchay Plan. In case of death of the insured person, the sum assured is payable to the nominee.
    Maturity Benefit If the policyholder survives till the end of the term of the policy, they will be eligible to receive the maturity benefit.
    Surrender Benefit If the policyholder holder surrenders the policy after the five-year lock-in period, fund value as on the date of surrender will be payable. If first two years premiums are paid in full, the policy can be surrendered at any time after 3 years from the time the policy was issued. If the policy is surrendered, all premiums paid by the policyholder will be multiplied by the premium percentage as shown in the below table.
    Completed policy years 5-year term 10-year term 15-year term
    3 45% 40% 20%
    4 70% 50% 30%
    5 - 60% 40%
    6 - 70% 50%
    7 - 80% 55%
    8 - 85% 60%
    9 - 90% 65%
    10 - - 70%
    11 - - 75%
    12 - - 80%
    13 - - 85%
    14 - - 90%

    Other Key Features

    Following are some of the other key features of the Birla Sun Life Insurance Bima Dhan Sanchay Plan:

    Partial withdrawals Partial withdrawals are not allowed under this policy.
    Grace Period The Birla Sun Life Insurance Bima Dhan Sanchay Plan has a grace period of 180 days from the due date for payment of premiums if the payment is made is yearly.
    Paid-up Value If the policyholder pays all the premiums promptly in the first two years in full, the insured can continue the policy on paid-up basis.
    Revival A policyholder can reinstate a lapsed policy by paying the total outstanding premiums with 1% interest from the last premium due date. Also, the policyholder should submit a fresh declaration of health to reinstate the policy.
    Free Look Period The Birla Sun Life Insurance Bima Dhan Sanchay Plan has a free look period of 30 calendar days within which the policyholder can cancel the policy and get the premiums paid refunded.
    Nomination Nomination facility is available as per Section 39 of the Insurance Act, 1938.

    Addi-ons available under the Birla Sun Life Insurance Bima Dhan Sanchay Plan

    Policyholders looking for extra protection can buy additional riders under the Birla Sun Life Insurance Bima Dhan Sanchay Plan. Under this plan, a policyholder can attach Accidental Rider which promises additional sum assured amount if the minimum sum assured in the base policy is Rs.10,000.

    Exclusions – What is Excluded from the Birla Sun Life Insurance Bima Dhan Sanchay Plan

    Please note that there are no exclusions under the Birla Sun Life Insurance Bima Dhan Sanchay Plan.

    Tax Benefits – How You Can Save with the Birla Sun Life Insurance Bima Dhan Sanchay Plan

    Policyholders who have purchased the Birla Sun Life Insurance Bima Dhan Sanchay Plan will enjoy tax benefits under Section 80C of the Income Tax Act, 1961.

    Why You Should Choose the Birla Sun Life Insurance Bima Dhan Sanchay Plan

    One of the popular names in the insurance industry is The Birla Sun Life Insurance. It is one of the most reputable insurance providers in India. From unit-linked insurance plans to endowment plans and pension plans, they offer it all. They are also known for the innovative group insurance plans that they offer at affordable prices for the socially backward sections of the society. Within few years, they have gained thousands of customers and have financially protected millions of lives. Also, all the insurance products offered by this well-established insurer are carefully designed after sound research. If you are an individual looking for an efficient pension plan, Birla Sun Life Insurance Bima Dhan Sanchay Plan is ideal for you. Start planning for your retirement when you are young because how you spend your retired life matters.