Birla Sun Life Dream Life Plan

The Dream Life Plan from Birla Sun Life Insurance is a Unit Linked Non-Participating Endowment Plan. Thus it is a Non-Traditional Plan without Bonus Facility.

Key Features

There are Guaranteed Additions of 2.5% of the Basic Premiums paid in the last 60 months on 10th policy anniversary and on every 5 policy anniversary thereafter + 0.25% of the average Fund Value in the last 12 months is added every anniversary from 11th policy anniversary

There is a Minimum Guaranteed Amount which is payable as maturity Fund Value called Guaranteed Savings Value.

Benefits

If the Life Insured dies within the Policy Tenure, the Basic Sum Assured + Fund Value + Enhanced Sum Assured, if any would be paid as the Death Benefit and the policy would be terminated.

The higher of the Fund Value or the Guaranteed Savings Fund is paid as Maturity Benefit. Guaranteed Savings Fund is the accumulation at 3% p.a. of all Premiums paid.

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

1. BSLI Accidental Death and Disability Rider
2. BSLI Critical Illness Rider
3. BSLI Surgical Care Rider
4. BSLI Hospital Care Rider
5. BSLI Waiver of Premium Rider

There is only 1 Investment Fund that is available: Enhancer Fund

Not applicable as there is only 1 Fund that is available.

Unlimited partial withdrawals are allowed any time after completion of 5 Policy Years. The minimum amount of partial withdrawal is Rs. 5,000. There is no maximum limit, but a minimum Fund Value of Rs. 25,000 needs to be kept in the Fund Value.

How it works

In this plan, the Premium Amount and the Savings Date are chosen and the Basic Sum Assured and the Guaranteed Savings Amount is calculated automatically. The premium can be paid for a period of 5, 10, 15 or 20 years as chosen while the policy continues till Whole Life. There is a Life Coverage of the Basic Sum Assured throughout the policy term. The Life Coverage can also be increased by choosing an Enhanced Sum Assured.

Thus, on the chosen Guaranteed Savings Date, higher of the Fund Value and the Guaranteed Savings Fund is paid as Maturity Benefit. The entire amount is invested in the only Fund in this plan, Enhancer Fund.

However, if the Life Insured dies before the Guaranteed Savings Date, the Sum Assured + the Fund Value + Enhanced Sum Assured, if any is paid as Death Benefit to the nominee and policy terminates.

This Plan has 5 additional riders and 1 Investment Fund available in this plan. This plan also has Guaranteed Additions.