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.
Individuals will have to meet the below-mentioned eligibility criteria, to be eligible to purchase the Birla Sun Life Insurance Bima Dhan Sanchay Plan:
|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|
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.
|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|
There are many benefits under the Birla Sun Life Insurance Bima Dhan Sanchay Plan. Some of the benefits are as follows:
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.
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.|
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.
Please note that there are no exclusions under 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.
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.