INSURANCE INSIGHTS
|
JULY 2017
10
11
JULY 2017 |
INSURANCE INSIGHTS
Insurer Name
Birla Sun Life Insurance Company Ltd.
TATA AIA Life Insurance Company
Ltd.
TATA AIA Life Insurance Company Ltd.
HDFC Standard Life Insurance Company Ltd.
Product name
BSLI Vision Life Secure Plan
TATA AIA Life Insurance MahaLife Gold
TATA AIA Life Insurance MahaLife Gold Plus
HDFC Life Sampoorn Samridhi Plus
Premium p.a. (for a 35 year
old Male, non-smoker, for SA
of
R
8 Lakh) (Excluding taxes,
surcharge & cess)
R
69,681
PPT - 15 years, PT - 15 years
R
1,08,640
PPT- 15 years. PT - 50 years
R
1,12,168
PPT - 15 years, PT - 50 years
R
1,14,592
PPT - 10 years, PT - 15 years, Yearly Whole Life Option
Illustrative Maturity Benefit at
4% and 8% return for above
premium and Sum Assured (as
per insurer's illustration)
R
8,36,000 (at 4 %)/
R
13,52,000 (at 8%)
R
29,64,000 (at 4%)/
R
43,32,000(at
8%)
R
25,08,000 (at 4%)/
R
43,68,000(at 8%)
R
11,14,324 (at 4%)/
R
17,48,004 (at 8%)
Key Plan Features
Participating whole life insurance plan - Enhance
your savings with regular bonuses throughout
the policy term starting from the first policy year.
Regular Income till Age 85 and Lump
Sum on Maturity to leave a legacy to
plan for 3 generations.
Regular Income for 30 years with Lump Sum on Maturity and
added benefit of enhancement of protection by way of an
Inflation Protection Cover during the policy term.
Participating Endowment Plan with Whole of Life Option and
Guaranteed Additions from 3% to 5% of Sum Assured on
Maturity in the 1st 5 Policy Years.
Entry Age(Min/Max)
1/60 years
30 days/55 years
30 days/55 years
30 days/60 years
Maturity Age(Min/Max)
18/75 years
85 years
85 years
18/75 years
Premium paying options
Regular Pay
Limited Pay
Limited Pay
Limited Pay
Premium Paying Term(PPT)/
Policy Term(PT)
15 to 35 years
15 years
15 years
PT less 5 years /15 to 40 years
Premium mode
Annual, Half-yearly, Quarterly, Monthly
Annual, Half-yearly, Monthly
Annual, Half-yearly, Monthly
Annual, Half-yearly, Quarterly, Monthly
Sum assured (Min/Max)
R
2,00,000/No Limit
R
1,00,000/No Limit
5
R
2,00,000/No Limit
5
R
65,463/No Limit
Minimum Annual Premium
R
12,000
R
14,000
R
12,733
R
12,000
Plan options
Not Available
Not Available
Not Available
Endowment
Endowment with Whole Life
Maturity Benefit*
- Sum Assured; plus
- Accrued regular bonus; plus
- Terminal Bonus (if any)
Basic Sum Assured + last Guaranteed
Cash Coupon + Last Non-Guaranteed
Cash dividend
Survival Benefit - Available
Minimum Guaranteed Sum Assured on Maturity + last Non-
Guaranteed Cash Dividend
Survival Benefit - Available
Aggregate of:
- Sum Assured on Maturity
- Accrued Guaranteed Additions
- Accrued Reversionary bonuses
- Interim bonus (if any)
- Terminal bonus (if any)
plus additional benefit for Endowment with Whole Life Option
Death Benefit*
Death Benefit
^
during Policy Term:
- Guaranteed Death Benefit plus
- Accrued regular bonus as on date of death plus
- Terminal Bonus (if any)
Death Benefit^ after Policy Term till age 100 or
on survival till age 100:
Guaranteed Death Benefit
^
Sum Assured on Death
^*”
Sum Assured on Death” plus additional % of Basic Sum
Assured*
Highest of:
-Sum Assured on Death + Accrued Guaranteed Additions
+ Accrued Reversionary Bonuses + Interim bonus (if any) +
Terminal bonus (if any)
-105% of premiums paid till date
*Please refer to the Product Brochure for more details.
SP - Single Pay, RP - Regular Pay, LP - Limited Pay, AP - Annualised Premium
^The minimum death benefit will be at least 105% of the premiums paid,
#
Different for other PT - Please refer product brochure.
1
Here, Sum Assured is
R
8,03,000,
2
Here, Sum Assured is
R
8,07,360,
3
For a 8 year old Male, Sum Assured –
R
1 lakh, PPT - 10 years, PT - 20 years,
4
For a 14 year old Male, Sum Assured –
R
1 lakh, PPT - 12 years PT - 25 years,
5
subject to underwriting policy
SAVINGS PLANS (TRADITIONAL)
SAVINGS PLANS (TRADITIONAL)
