Bachat Plan Surrender
Bachat Plan surrender value is an amount which you receive from the insurance company in case you want to terminate your policy before maturity. Usually for a regular premium policy, you can get surrender value if you have paid BSLI Bachat Plan Premium for three continuous years. Surrender value is also known as cash surrender value or cash value.
BSLI Bachat Plan Bonus
BSLI Bachat Plan bonus is an additional or extra sum given to a policyholder. When an insurance company makes profits then it shares the profits in the form of bonus with the life insured. Insurance policy bonus includes terminal bonus, reversionary bonus, interim bonus etc. Bonus, if available, can also be considered as one of the BSLI Bachat Plan benefits. No bonus is provided for this insurance plan.
Reversionary bonus is the one that is based on performance of the insurance policy. You'll get terminal bonus upon termination i.e. maturity of the policy. Dates of terminal bonus are usually announced by the insurance company. If the maturity date of your policy lies within two terminal bonus dates then in its stead, you get an interim bonus.