INSURANCE INSIGHTS
|
JULY 2017
12
13
JULY 2017 |
INSURANCE INSIGHTS
Insurer Name
Birla Sun Life Insurance Company Ltd.
HDFC Standard Life Insurance
Company Ltd.
Product name
BSLI Vision Endowment Plus
HDFC Life Uday
Premium p.a. (for a 35 year old Male,
non-smoker, for SA of
R
8 Lakh)
(Excluding taxes, surcharge & cess)
R
47,215
PPT - 10 years, PT - 20 years, Option A
R
98,496
PPT - 10 years, PT - 15 years
Illustrative Maturity Benefit at 4%
and 8% return for above premium
and Sum Assured (as per insurer’s
illustration)
R
8,34,632(at 4 %)/
R
14,18,632 (at 8%)
R
11,72,000 (at 4%)/
R
16,20,000 (at 8%)
Key Plan Features
Participating life insurance plan - Augment
your savings with accrued regular bonuses
starting from the first policy year.
Participating Endowment plan with
inbuilt features like Double Sum Assured
on Accidental Death and Auto Cover
Continuance.
Entry Age(Min/Max)
30days/60 years
18/55 years
Maturity Age(Min/Max)
18/70 years
30/70 years
Premium paying options
Limited Pay, Regular Pay
Limited Pay
Premium Paying Term(PPT)/Policy
Term(PT)
7,10,15,20 years, RP/10 to 40 years
8/12, 8/15, 10/15 years
Premium mode
Annual, Half-yearly, Quarterly, Monthly
Annual, Half-yearly, Quarterly, Monthly
Sum assured (Min/Max)
R
1,00,000/No Limit
R
28,465/No Limit
Minimum Annual Premium
R
7,000
R
5,000
Plan options
Option A
Option B
Not Available
Maturity Benefit*
Maturity Sum Assured plus Accrued bo-
nuses till date plus Terminal bonus (if any).
Aggregate of -
- Sum Assured on maturity
- Accrued Guaranteed Additions
- Accrued Reversionary bonus, Interim
bonus and Terminal bonus, if any.
Death Benefit*
Option A^ - Sum Assured on Death is
maximum of 100% of Sum Assured or
Maturity Sum Assured or 10 times the
annual premium payable.
Option B^ - Sum Assured on Death is
maximum of 150% of Sum Assured or
Maturity Sum Assured or 10 times the
annual premium payable.
Highest of:
-Sum Assured on Death + Accrued Guar-
anteed Additions + Accrued Reversionary
Bonuses (if any) + Interim Bonus (if any)
+ Terminal Bonus(if any)
-105% of Premiums paid
An additional benefit equal to 100% of
‘Sum Assured on Death’ will be payable in
case of death due to an accident.
*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)
Insurer Name
HDFC Standard Life Insurance
Company Ltd.
HDFC Standard Life Insurance Company Ltd.
Product name
HDFC SL ProGrowth Super II
HDFC Life ProGrowth Plus
Illustrative Maturity Benefit
at 4% and 8% return for Pre-
mium
R
2,50,000 p.a. for a 35
year old Male, non-smoker.
(as per insurer's illustration)
(Premium excluding taxes,
surcharge & cess)
R
57,49,359 (at 4%)/
R
90,70,768 (at
8%)
PPT - 20 years, PT - 20 years
R
24,37,082 (at 4%)/
R
38,09,817 (at 8%)
PPT - 20 years, PT - 20 years
Key Plan Features
Regular Premium Payment plan with 8
plan options and a choice of investment
in 4 fund options.
Regular Premium Payment plan with 2 plan options and a
choice of investment in 4 fund options.
Entry Age(Min/Max)
14/65 years (Life option), 18/55 years
(Other options)
14 /65 years (Life Option)
18/55 years (Extra Life Option)
Maturity Age(Min/Max)
24/75 (Life option)*
24/75 years (Life Option), 24/70 years (Extra Life Option)
Premium paying options
Regular Pay
Regular Pay
Premium Paying Term(PPT)/
Policy Term(PT)
10 to 25/30 years (depending on the
plan option chosen)
10 to 30 years
Premium mode
Annual
Annual, Half-yearly, Monthly
Sum assured (Min/Max)
Age<45 years:
Higher of 10 x AP or 0.5 x PT x AP/40
x AP
Age>=45years: Higher of 7 x AP or
0.25 x PT x AP/40 x AP
Age< 45 years:
Higher of 10 x AP or 0.5 x PT x AP/40 x AP, subject to an
absolute maximum sum assured amount of
R
40 Lakh
Age>=45 years: Higher of 7 x AP or 0.25 x PT x AP/40 x
AP, subject to an absolute maximum sum assured amount
of
R
40 Lakh
Minimum Annual Premium
R
15,000
R
24,000
Plan options
Life Option, Extra Life Option, Life &
Health Option, Extra Life & Health
Option, Life & Disability Option, Extra
Life & Disability Option, Life & Health &
Disability Option, Extra Life & Health &
Disability Option
Life and Extra life option
Premium Allocation
Charges*
Year 1-7 : 4%, Year 8+ : 1%
Year 1 : 2.5%, Year 2 - 2%
Maturity Benefit*
Fund Value
Fund Value
Death Benefit*
Sum Assured plus Unit Fund Value
Highest of:
Before attainment of age 60 years -
-Sum Assured (less all withdrawals made during the two
year period immediately preceding the date of death)
-The total fund value
-Minimum death benefit of 105% of the premiums paid
On or after attainment of age 60 years -
-Sum Assured (less all withdrawals made after attainment
of age 58)
-The total fund value
-Minimum death benefit of 105% of the premiums paid
SAVINGS PLANS (ULIP)
*Please refer to the Product Brochure for more details.
SP - Single Pay, RP - Regular Pay, LP - Limited Pay, AP - Annualised Premium, SA - Sum Assured, ^The minimum death benefit will be at least 105% of the premiums paid,
#
Max Sum Assured is dependent on Age and AP,
1
Different for other plan options.
2
Varies as per year, payment mode and premium band,
3
Varies as per premium paying term
and premium amount,
4
Different for non-annual mode
