• Birla Sun Life Wealth Secure Plan

    Life Insurance
    • Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
    • Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
    • Do more with plans that offer pure protection, retirement planning and investment options

    The Wealth Secure Plan by Birla Sun Life Insurance is a non-participating, unit linked life insurance plan that not only provides you with adequate life insurance coverage but also allows you to save in order to fulfil financial goals with each changing life stage. This plan combines the benefits of whole life coverage with long term savings so that you can easily maximize the savings for your future. The key benefits which this plan offers include limited premium payments with whole life cover, choice of 3 investment options, flexibility to get top-ups and the option of making partial withdrawals in times of emergency. Policyholders are also entitled to tax benefits under Section 80C and Section 10D of the Income Tax Act.

    Eligibility - Who Is The BSLI Wealth Secure Plan For?

    In order to be eligible for this plan, the applicant must be between 1 year to 60 years of age. This policy term for this policy extends for the entire lifetime.

    Sum Assured & Premium Range - What You Get & What It Costs

    Sum Assured

    Sum Assured or Basic Sum Assured is the amount which is paid towards the Death Benefit after the death of the life assured. The Basic Sum Assured amount is decided by multiplying the basic premium payable in a year by either of the following:

    • For age of entry below 45 years, basic premium payable multiplied by 10 or multiplied by the number of years left to reach 70 years of age divided by 2.
    • For age of entry at 45 or above, basic premium payable multiplied by 7 or multiplied by the number of years left to reach 70 years of age divided by 4.

    Premium Range

    The minimum premium payable will vary based on the premium payment mode – annual, semi-annual, quarterly or monthly.

    Premium Payment Mode Minimum Premium Payable
    Paid Annually Rs.20,000
    Paid semi-annually Rs.30,000
    Paid quarterly Rs.60,000
    Paid monthly Rs.60,000
    Minimum Top-up Premium Rs.5,000

    *Premiums Vary Based On Age, Location, Plan Term And Other Factors

    Payment Mode

    Premiums under this plan can be paid yearly, semi-yearly, quarterly or monthly.

    Premium Payment Term

    The premium payment term for this plan ranges from 5 years to 30 years. The minimum and maximum Premium Payment Term is as follows:

    Minimum PPT Age attained on expiry of PPT must be 18 years or above
    Maximum PPT Age at the end of PPT must be 75 years or below.

    Plan Coverage - What The BSLI Wealth Secure Plan Covers

    Guaranteed Additions Guaranteed Addition are additional units which will be added to your policy on:
    • 10th anniversary of the policy and thereafter every 5th policy anniversary. Guaranteed Addition will be calculated as 2.00% of the overall premiums for the past 60 months.
    • In addition to this, on the 11th policy anniversary and every policy anniversary following that, Guaranteed Addition at the rate of 0.20% of Average Fund Value for past 12 months will be payable.
    • After 5 policy years are over, any non-negative residual additions, will be credited to the policy as per IRDAI Regulations to meet maximum reduction in yield.
    Death Benefit In the event of the life insured’s death during the policy term, BSLI will pay the nominee/beneficiary the greater of the Basic Fund Value on the date of Death Intimation OR the Basic Sum Assured. In addition to the above, the policy will also pay the higher of the Top-up Fund Value on the date of Death intimation OR the Top-up Sum Assured.
    Surrender Benefit At times of emergency, the policyholder can surrender their policy anytime during the policy term. A surrender made in this case will considered as a complete withdrawal, as has been mentioned in the policy wording.

    Exclusions - What The BSLI Wealth Secure Plan Doesn’t Cover

    In case the life insured commits suicide, either in a sane or insane state of mind, within a year of the issuance or revival of the policy, the insurer will provide the life insured’s nominee/beneficiary the Fund Value as is on the date of death, along with any charges levied after the date of death.

    Other Key Features – Free Look Period, Surrender Values, Grace Period Etc.

    Investment Options Policyholders can invest in any of the 3 investment options which include LifeCycle, Systematic Transfer, and Self-Managed.
    • LifeCycle option is designed for those who would like their investments to change accordingly with increasing age and risk appetite.
    • Systematic Transfer option is crafted for those who would like to be free of timing their investments in the market.
    • Self-Managed option is designed for those who would like to control their own investment.
    Investment Funds Available Following are the funds available for investing under this plan. They have been classified according to their risk.
    • Very Low – Liquid Plus, Income Advantage & Assure.
    • Low – Protector & Builder.
    • Medium – Enhancer & Creator
    • High – Magnifier, Maximiser, Multiplier, Super 20, Pure Equity and Value & Momentum.
    Partial Withdrawals Policyholders can make unlimited partial withdrawals at any time after 5 full policy years OR after the life assured attains 18 years of age; whichever occurs earlier.
    Policy Revival The policy can be revived within a period of 2 years from the date that it has been discontinued. Revival of the policy can be done after all outstanding premiums till date have been paid. Along with that, the life assured must also provide a proof of good health which is accepted by the insurance company.
    Policy Loans Loans are not provided under this policy.
    Free Look Period In case policyholders are not satisfied with the coverage and terms of the policy, they can return it any time within the Free Look Period. The insurer provides a Free Look Period of 15 days (30 days if policy has been received via Distance marketing channels), beginning from the date when policy has been received. The policyholder must return the original policy document along with the reason for policy cancellation in writing. After the cancellation request has been received and accepted, the insurer will refund the fund value along with any charges that have been levied towards the policy to date, after deducting proportionate risk premium and expenses like stamp duty and medical charges.
    Nomination Nomination is allowed for this plan as per rules of Section 39 of the Insurance Act, 1938.
    Assignment Assignment of the policy is allowed as Section 38 of the Insurance Act, 1938

    Tax Benefits – How You Can Save With The BSLI Wealth Secure Plan

    With the BSLI Wealth Secure Plan, policyholders can get attractive tax benefits under Section 80C and Section 10D of the Income Tax Act, 1961. Tax benefits will be provided subject to applicable conditions of the policy being fulfilled.

    Other Benefits – How You Can Save With The BSLI Wealth Secure Plan

    • Online Tools - The BSLI website offers its customers the facility of a number of online calculators to calculate their various types of insurance requirements. These include term insurance calculator, tax calculator, health calculator, children future planner, wealth calculator and human life value calculator.
    • Manage Your Policy - The website also includes a special section from where customers can easily manage their policy. They can perform tasks like payment of premiums, change their premium payment frequency, update their contact details and subscribe to e-statements for the policy.
    • Multiple Premium Payment Options – Birla Sun Life provides its customers multiple channels for premium payment. Premiums can be paid via net banking, direct debit, NEFT, debit or credit card, Axis Bank, CAMS service centres, Common Service Centres, ICICI Bank, ECS, Bill Desk or at BSLI branches.
    • Track Application – Track your insurance application with ease from the BSLI website itself using the Track Application option. For this, you must provide your policy number/application number, insured person’s DOB and their mobile number.
    • Forms & Downloads – For ease of use and to save time, the website also includes a special section from where customers can download relevant forms and declarations which are required to be filled for various steps of the application process along with forms for other service related requests.
    • Purchase Policies Online – BSLI offers several of its insurance policies online, which means that customers do not have to physically visit stores to apply for an insurance policy.

    Why You Should Buy The Wealth Secure Plan From Birla Sun Life Insurance?

    Holding industry experience of more than a decade, BSLI has been one of the leading contributors to the development and growth of the Indian insurance sector and has earned its place among the top insurance providers in the country today. Serving over 2 million people, Birla Sun Life offers a wide range of well-appointed insurance solutions which span across various categories like protection plans, wealth & protection plans, children's future plans, health plans, retirement plans, savings cum investment plans, etc. Besides offering a stellar range of products, the company also offers dedicated customer service not only online but also offline via its 400+ branches.

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