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Insurance Company
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Birla Sun Life Insurance Company Ltd
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Plan Name
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Birla Sun Life Bachat (Endowment) Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Term Plan
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UIN No.
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109N056V01
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About Plan
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You have aspirations and dreams for your family and would like to ensure that you are able to provide for them. For this, you would like an avenue to save your hard earned money regularly so that it grows to fulfil your dreams. Introducing BSLI Bachat (Endowment) Plan, a traditional non-participating endowment plan that helps you build a corpus through regular systematic Savings and get your savings augmented through additions every year and at maturity. With BSLI Bachat (Endowment) Plan, you can now start ensuring and protecting your family's dreams and aspirations by saving as littele as Rs.400 per month.
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Minimum Entry Age
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18years
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Maximum Entry Age
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60years
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Premium Paying Term
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20years
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Minimum Policy Term
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20years
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity after 20years, you will receive .All Monthly Base Premiums paid; plus.All Bachat Additions earned; plus.The Loyalty Addition
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Death Benefits
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In the unfortunate event of death of the lif insured, the nominee shall receive .All Monthly Base Premiums paid (or Sum Assured if higher); plus.All Bachat Additions earned; plus.The Loyalty Addition
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Surrender Benefit
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Once 36 MBPs have been paid, you may surrender your policy and receive.All Monthly Base Premiums paid from the 2nd year onwards* the surrender factor below; plus .After the 10th policy yer, all Bachat Additions earned; plus.After the 15th policy year, the Loyalty Addition
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Accident Benefit
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You have an option to increase the Sum Assured in case the life insured dies accidentall.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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Accidental Death Benefit Rider [109B014V01]
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You will be eligible for tax benefits under Section 80c and Section 10(10D) of the Income Tax Act, 191. Currently,. Under Section 80C, premiums up to Rs.100000 are allowed as a deduction form your taxable income, each year. Under Section 10 (10D), the benefits you receive from this plan are exempt from tax, subject to mentioned exclusions.
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Starting from the 3rd policy year you can get a loan on your policy. The minimum loan amount is Rs.5000 and the maximum loan amount is 90% of the Surrender Benefit. The interest we charge on such loans will be fixed by us from time to time.
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If you are unable to pay your premium by the due date, you will be given a grace period of 30days and during this grace period all coverage under your policy will continue. If you do not pay your premium within the grace period, the following will be applicable:a) In case your policy has not acquired a surrender benefit, then all benefits under your policy will cease immediately.b) In case your policy has acquired a surrender benefit, then your policy will be continued on a paid-up basis. 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 as declared by us from time to time and by providing evidence of insurability satisfactory to us.
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You will have the right to retur your policy to us within 15days from the date of receipt of the policy. We will refund all premiums paid till date once we receive your written notice of cancellation (along with reasons thereof) together with the original polic documents. Depending on our then current administration rules, we may reduce the amount of the refund by expenditures incurred by us in issuing your policy and as permitted by the IRDA and in accordance to IRDA (Protection of Policyholders Interest) Regulations,2002.
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13-Jul-09
20:14
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Birla Sun Life Insurance launched 'Super 20'
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25-Jun-09
11:26
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Birla Sun Life renewed bancassurance with Development Credit Bank
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20-Jun-09
11:46
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Investing Rs 500 cr in Life Insurance arm : Birla & Sun Life
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16-Jun-09
12:26
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Sun Life Financial acquires UK business of Lincoln National
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19-May-09
11:55
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Birla Sun Life paid Rs 1.25 lakh as settlement amount to SEBI
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15-May-09
12:26
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Claims outstanding ratio has been reduced by 100% : Birla SunLife Insurance
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29-Apr-09
10:26
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Birla Sun Life Insurance crosses Rs 10,000 cr in AUM
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08-Apr-09
08:56
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Birla Sun Life Insurance opens zonal office in Pune
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20-Jan-09
13:20
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Birla Sun Life to partner in micro insurance project
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10-Jan-09
10:20
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Birla Sun Life mutual dumps Satyam
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09-Jan-09
14:10
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Birla Sun Life enters the health space
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08-Jan-09
12:40
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BSLI enters health insurance buisness
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03-Dec-08
12:06
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Birla Sun Life CEO quits
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