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BSLI Secure Plus
BSLI Secure Plus

Shriram Secure Investment Plan
Shriram Secure Investment Plan



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BSLI Secure Plus
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Shriram Secure Investment Plan

BSLI Secure Plus and Shriram Secure Investment Plan

1 Details
1.1 Insurance Provider
Birla Sun Life Insurance
Shriram Life Insurance Company
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
87.10%
Rank: 6 (Overall)
51.21%
Rank: 23 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
96.00%
Rank: 2 (Overall)
67.00%
Rank: 15 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
87.76 %
Rank: 15 (Overall)
67.69 %
Rank: 23 (Overall)
DHFL Pramerica Family Income
1.3 Type
Whole Life Insurance Plan
Whole Life Insurance Plan
1.4 Status
In-force
In-force
1.5 Online
29% Whole Life Insurance Plans Life insurance plans have it !
29% Whole Life Insurance Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
5 years
Rank: 5 (Overall)
0 years
Rank: N/A (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
50 years
Rank: 26 (Overall)
60 years
Rank: 18 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
Not Available
Rank: N/A (Overall)
5 years
Rank: 1 (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
63 years
Rank: 22 (Overall)
65 years
Rank: 20 (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
13 years
Rank: 11 (Overall)
5 years
Rank: 3 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
13 years
Rank: 31 (Overall)
10 years
Rank: 33 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
₹ 725000
Rank: 64 (Overall)
₹ 49600
Rank: 16 (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Not Applicable
Not Applicable
1.8.3 Max Sum Assured
IDBI Federal Lo..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
Depends on entry age and premium amount committed.
No Limit
1.9 Group Plan
No Whole Life Insurance Plans Life insurance plans has it !
No Whole Life Insurance Plans Life insurance plans has it !
1.9.1 Group Type
Not Applicable
Not Applicable
1.9.2 NEE Size
Metlife Group T..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
₹ 50000
Rank: 68 (Overall)
₹ 40000
Rank: 65 (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Not Applicable
Not Applicable
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
Not Applicable
No Limit
2.3 Payment Options
Limited Pay
Single Pay
2.4 Regular Modes
Annual
Not Applicable
2.5 Top Up
Not Allowed
Not Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
59% Whole Life Insurance Plans Life insurance plans have it !
59% Whole Life Insurance Plans Life insurance plans have it !
3.2 Surrender
94% Whole Life Insurance Plans Life insurance plans have it !
94% Whole Life Insurance Plans Life insurance plans have it !
3.2.1 Surrender Value
Depends on policy year. Surrender value only after payment of premiums for 3 years.
Depends on the policy year, policy term and the premium paid
3.3 Benefits
3.3.1 Tax
98% Whole Life Insurance Plans Life insurance plans have it !
98% Whole Life Insurance Plans Life insurance plans have it !
3.3.2 Tax Benefit Amount
As per applicable tax laws
Tax benefits under this plan are available as per the provisions of the Income tax Act.
3.3.3 Service Tax
Applicable
Applicable
3.3.4 Maturity
89% Whole Life Insurance Plans Life insurance plans have it !
89% Whole Life Insurance Plans Life insurance plans have it !
3.3.5 Maturity Benefit Amount
Lumpsum amount shall be paid.
Guaranteed maturity benefit factor X Single premium
3.3.6 Death
99% Whole Life Insurance Plans Life insurance plans have it !
99% Whole Life Insurance Plans Life insurance plans have it !
3.3.7 Death Benefit Amount
Depends on the premium amount paid annually.
Sum assured on death shall be payable
3.3.8 Annuity
No Whole Life Insurance Plans Life insurance plans has it !
No Whole Life Insurance Plans Life insurance plans has it !
3.4 Bonus
Not Available
Not Available
4 Provisions
4.1 Renewal
76% Whole Life Insurance Plans Life insurance plans have it !
76% Whole Life Insurance Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
2 years
Rank: 3 (Overall)
2 years
Rank: 3 (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
51% Whole Life Insurance Plans Life insurance plans have it !
51% Whole Life Insurance Plans Life insurance plans have it !
4.2.2 ADBR Description
In built with the plan.
Not Applicable
4.2.3 Critical Illness
29% Whole Life Insurance Plans Life insurance plans have it !
29% Whole Life Insurance Plans Life insurance plans have it !
4.2.4 CI Description
Available at an additional cost.
Not Applicable
4.2.5 Term Rider
11% Whole Life Insurance Plans Life insurance plans have it !
11% Whole Life Insurance Plans Life insurance plans have it !
4.2.6 TR Description
Not Applicable
Not Applicable
4.2.7 Permanent Disability
30% Whole Life Insurance Plans Life insurance plans have it !
30% Whole Life Insurance Plans Life insurance plans have it !
4.2.8 PD Description
Not Applicable
Not Applicable
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
30 Days
Rank: 1 (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Suicide Clause
Suicide Clause
5.4 Charges
5.4.1 Premium Allocation
4% Whole Life Insurance Plans Life insurance plans have it !
4% Whole Life Insurance Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Available
Not Available
5.4.3 Policy Administration
2% Whole Life Insurance Plans Life insurance plans have it !
2% Whole Life Insurance Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Available
Not Available
5.4.5 Fund Management
2% Whole Life Insurance Plans Life insurance plans have it !
2% Whole Life Insurance Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Available
Not Available
5.4.7 Mortality
6% Whole Life Insurance Plans Life insurance plans have it !
6% Whole Life Insurance Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Available
Not Available
5.4.9 Switching
Allowed
Not Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Allowed
Not Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Allowed
Not Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Not Allowed
Not Allowed
5.5.2 Deletion
Not Allowed
Not Allowed
5.6 Medical Examination
78% Whole Life Insurance Plans Life insurance plans have it !
78% Whole Life Insurance Plans Life insurance plans have it !

Compare BSLI Secure Plus and Shriram Secure Investment Plan

Compare BSLI Secure Plus and Shriram Secure Investment Plan on basis of policy details, premium details, eligibility etc. BSLI Secure Plus is provided by Birla Sun Life Insurance. Shriram Secure Investment Plan is provided by Shriram Life Insurance Company. Both these policies come under Whole Life Insurance Plans. Online buying option is not available for first insurance policy and online buying option is not available for second policy.

Minimum entry age for BSLI Secure Plus is 5 years and maximum entry age for the same policy is 50 years. Similarly for Shriram Secure Investment Plan, minimum entry age is 0 years and maximum entry age is 60 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Limited Pay and premium payment option/s for latter policy: Single Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.

Benefits of BSLI Secure Plus and Shriram Secure Investment Plan

Benefits of BSLI Secure Plus and Shriram Secure Investment Plan consist of maturity benefit, tax benefit, death benefit etc. Some BSLI Secure Plus and Shriram Secure Investment Plan Provisions are made for a policy holder. Loan is one such provision. For first plan, a person can apply for loan and second plan provides loan facility. Following are the benefits under these insurance policies.

For BSLI Secure Plus:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

For BSLI Secure Plus:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.

Provisions under BSLI Secure Plus and Shriram Secure Investment Plan

Provisions under BSLI Secure Plus and Shriram Secure Investment Plan mainly include policy renewal and different types of riders. For BSLI Secure Plus, policy renewal is allowed Policy renewal is allowed for Shriram Secure Investment Plan. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is available for first policy and it is not available for second policy.Critical illness rider is available for former policy and it is not available for second policy.Term rider is not available for first insurance policy and this rider is not available for second policy.

Terms and Conditions For BSLI Secure Plus and Shriram Secure Investment Plan

Terms and conditions for BSLI Secure Plus and Shriram Secure Investment Plan includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period of plan 1 is 30 Days whereas for plan 2, it is Not Available. Free look period for these insurance plans is 15 Days.

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