Robinhood Insurance Broker Private Limited

Product Info

UIN

109N081V01

Status

Withdrawn

Launch Date

18/01/2013

Withdrawn Date

31/12/2013

Product Overview

This Plan helps to achieve your financial goals with affordable saving and life insurance plan. It Offers you a perfect combination of liquidity saving and financial protection. It provides your family a financial protection and safety.

Product Description

  • Lifeincome Plan is a traditional participating whole life plan with survival benefits.
  • Survival benefit payable every year from the fifth policy anniversary till maturity.
  • Combination of Liquidity + Savings + Financial Protection.
  • Accrued bonuses starting from 1st policy year.
  • Survival benefit from the starting of the policy till its end term.

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Unique Features

  • BSLI Vision Regular Returns Plan is a traditional Endowment Plan with compounding reversionary bonus.
  • Guaranteed Survival Benefits and Non-Guaranteed Survival Benefits are paid after the first 5 policy years.

Eligibility Criteria

Eligibility Criteria
Age at Entry (Min) 13 years (age last birthday)
Age at Entry (Max) 55 years(age last birthday)
Max age of Maturity 55 years
Min Premium Payable 3 years
Min Sum Assured Rs. 100,000
Max Sum Assured No limit subject to medical and financial underwriting
Mode Available Annual, Semi-Annual, Quarterly and Monthly
Policy Term Min 1 year
Max 20 years
Premium Paying Term 1 to 20 years

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Product Benefit

Maturity Benefit: Accrued Bonuses + Non- Guaranteed Survival benefit paid till date and the policy will get terminated once the maturity benefit is paid.

Survival Benefit: Post the first 5 years, Guaranteed Benefits (Ranges from 1.56% to 18.1% of the sum assured depending on policy year) and Non-Guaranteed Benefits @ 6.25% of the bonus is paid every year till maturity.

Death Benefit: 

  • During the policy term, nominee would get SA+ accrued bonus on the death date. 
  • The policyholder would get the death benefit, in case the insured is different than the policyholder.

Other Policy Features

  • Surrender Value:
  1. The policy will acquire surrender value after all 3 years premium are paid, 30% of the premium paid will be the guaranteed surrender value.
  2. The surrender value payable would be higher in the case of Guaranteed Surrender value or special surrender value.
  • Bonus Types:
    Reversionary Bonus - Bonuses once attached to the policy will be payable on the death, survival and maturity. It may vary from year to year according to the economic conditions.
  • Premium Dis-continuance:
  1. Bonuses paid in the year of premium discontinuance will be reduced.
  2. However, any premium payable in the discontinuation year will be proportionately reduced to the unpaid premium in the same year.
  • Grace Period and Revival:
  1. If you are unable to pay your premium by the due date, you will be given a grace period of 30 days (15 days for monthly mode).
  2. During this grace period, all coverage under your policy will continue. You can reinstate your policy for its full coverage within two years from the due date of the first unpaid premium by paying all outstanding premiums together with interest.
  • Reduced paid-up:
    If at least 3 years premiums have been paid, then the policy gets converted to Reduce Paid Up Value and this will reduce the proportion in the premium payable in the same discontinuation policy term.
  • Policy Loan:
    You may take a loan against your policy once it has acquired a surrender value. The minimum loan amount is Rs.5,000 and the maximum is 85% of your surrender value.

Add-ons

  • Accidental Death & Disability :
    Provides for the payment of an additional amount, if death occurs as a result of an accident by an outward, violent and visible means.
  • Critical Illness :
    On diagnosis of any of the four illnesses - Heart Attack, Cancer, Major Organ Transplant or Stroke, the insured shall receives upto 100% of the Rider Sum Assured.
  • Surgical Care Rider :
    In the event of hospitalisation to undergo a surgery, the insured shall be paid a lump sum amount to cover his expenses.
  • Hospital Care Rider :
    In the event the insured is hospitalised for treatment, they will receive a Daily Cash Benefit to take care of their recuperation expenses.
  • Waiver of Premium Rider :
    Incase the life insured is unable to pay the premiums due to disability, critical illness or an untimely demise, all future premiums will be waived off , but the benefits will continue.

Exclusions

If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.

Tax Benefits

Tax Benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961.

Claim Process

Know Claim Process Of BSLI Vision Regular Return Plan

Claim Process

Company Overview

Aditya Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organizations from Canada.

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OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.

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Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
price
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

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Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.

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