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Eligibility criteria BSLI Bima Dhan Sanchay |
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You have an option to choose from three benefit periods –5,10 and 15 yrs.
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| Entry Age (Years) |
Term |
| 18-60 |
5 years |
| 18-55 |
10 years |
| 18-50 |
15 years |
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The total sum assured under all the policies for the life insured shall not exceed Rs 50,000. |
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Sum Assured Rs.5,000/- to Rs.50,000/- |
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Maximum Maturity age 65 years |
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Premium |
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You may pay your premiums by cash, credit card, salary deduction, ECS, Demand Draft, direct debit, etc. You also have a choice to pay your premiums yearly, half yearly, quarterly or monthly. Monthly mode will be through ECS/Demand Draft only.
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Premium Paying Mode |
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You may pay your premiums by cash, credit card, salary deduction, ECS, Demand Draft, direct debit, etc. You also have a choice to pay your premiums yearly, half yearly, quarterly or monthly. Monthly mode will be through ECS/Demand Draft only.
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Modal Factors |
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Annual, Semi Annual, Quarterly, Monthly
| Mode |
Modal premium as % of annualized premium |
| Semi-Annual |
51.0% |
| Quarterly |
25.8% |
| Monthly |
8.70% |
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Death Benefit |
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In the event of unfortunate death, Sum Assured is paid to the nominee. |
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Maturity Benefit |
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The plan offers refund of premiums paid as your maturity benefit. |
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Accidental Death (AD) Rider |
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An option for additional Sum Assured is available provided the base sum assured is minimum Rs 10,000/- and the sum assured under the rider should not exceed the sum assured under the base product if the death occurs due to accident. For further details refer detailed brochure on AD Rider.
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Free Look period |
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You have the option to cancel your policy within 30 calendar days from receipt of this policy document by giving us, in writing, the reason for your objection. In such a case, the premium paid will be refunded to you, provided:
- your written notice for cancellation, together with the entire policy contract, has been received by us; and
- we have not received the claim intimation.
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Grace period |
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A grace period of 180 days from the premium due date will be available to you. During this period all coverages will continue. In the event of a claim arising before the expiry of the grace period, the sum assured payable will be reduced for unpaid premiums.
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Paid-Up value |
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You have an option to continue the policy on paid-up basis provided all the premiums due in the first two years have been paid in full. |
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Revival |
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The lapsed policy can be reinstated provided the following conditions are satisfied: |
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| a) |
All due and unpaid premiums with interest of 1% per month (from premium due date) are paid.
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| b) |
The policyholder submits a fresh Declaration of Health at the time of reinstatement.
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If the policy is not revived during this period the policy will continue on paid-up basis, provided all due premiums for first two policy years have been paid in full. Otherwise the policy will be terminated.
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Surrender benefit |
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If all policy premiums due in the first two policy years have been paid in full, the policy can be surrendered at any time after first three policy years. In such cases, all the premiums paid (excluding rider premiums) multiplied by the partial Refund of Premium percentage shown below will be paid to you.
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| Policy years completed |
Benefit Term |
| 5 |
10 |
15 |
| 3 |
45% |
40% |
20% |
| 4 |
70% |
50% |
30% |
| 5 |
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60% |
40% |
| 6 |
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70% |
50% |
| 7 |
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80% |
55% |
| 8 |
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85% |
60% |
| 9 |
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90% |
65% |
| 10 |
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70% |
| 11 |
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75% |
| 12 |
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80% |
| 13 |
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85% |
| 14 |
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90% |
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Nomination
You may at any time before the policy matures for payment, nominate a person or persons to receive the benefit payable under the Death Benefit provision. You may also appoint any person, who is a major to receive the death proceeds on behalf of the nominee during the nominee’s minority. We will not recognize a nomination or change in nomination until we receive your notice in writing in the prescribed format at our Servicing Office. We will not express any opinion on the validity or legality of the nomination.
If no nominee is alive at the time of death of he Life Insured, the Life Insured’s estate shall be deemed to be the nominee.
Nomination made under the provision is as per Section 39 of the Insurance Act, 1938.
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Tax Benefit
Under Section 80C and 10 (10D) of income tax act, 1961. (As per current Tax legislation) Conditions apply. Please contact your Advisor for details.
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Section 45
No policy of life insurance effected after the coming into force of this act shall, after the expiry of two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the life insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.
Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the application.
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