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BSLI Vision Life Income Plan
BSLI Vision Life Income Plan

Shriram Secure Investment Plan
Shriram Secure Investment Plan



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BSLI Vision Life Income Plan
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Shriram Secure Investment Plan

Vision Life Income and Shriram Secure Investment Plan Benefits

1 Loan And Benefits
1.1 Loan
59% Whole Life Insurance Plans Life insurance plans have it !
59% Whole Life Insurance Plans Life insurance plans have it !
1.2 Surrender
94% Whole Life Insurance Plans Life insurance plans have it !
94% Whole Life Insurance Plans Life insurance plans have it !
1.2.1 Surrender Value
Not Available
Depends on the policy year, policy term and the premium paid
1.3 Benefits
1.3.1 Tax
98% Whole Life Insurance Plans Life insurance plans have it !
98% Whole Life Insurance Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income
Tax benefits under this plan are available as per the provisions of the Income tax Act.
1.3.3 Service Tax
Applicable
Applicable
1.3.4 Maturity
89% Whole Life Insurance Plans Life insurance plans have it !
89% Whole Life Insurance Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Sum assured along with terminal bonus (if any)
Guaranteed maturity benefit factor X Single premium
1.3.6 Death
99% Whole Life Insurance Plans Life insurance plans have it !
99% Whole Life Insurance Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
Not Available
Sum assured on death shall be payable
1.3.8 Annuity
No Whole Life Insurance Plans Life insurance plans has it !
No Whole Life Insurance Plans Life insurance plans has it !
1.4 Bonus
Terminal Bonus
Not Available

Availability of Loan

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for BSLI Vision Life Income Plan and Shriram Secure Investment Plan. For an insurance policy, loan option may or may not be provided. For first policy, a person can apply for loan and second policy provides loan facility.Loan is a facility that is provided by the insurance companies so that in case of emergencies, you can borrow money against your life insurance policy. If loan is provided by an insurance company, its value is usually deducted from your fund value i.e. the amounts of premiums that you've paid up to the time of money borrow. Also some companies specify the period of time when the loan has to repaid.

Benefits Under Vision Life Income and Shriram Secure Investment Plan

Benefits Under Vision Life Income and Shriram Secure Investment Plan can an important point of comparison between the two plans.

For BSLI Vision Life Income Plan:

  • Tax Benefit: Available
  • Maturity Benefit: Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

For Shriram Secure Investment Plan:

  • Tax Benefit: Available
  • Maturity Benefit: Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

Tax benefit implies that a part of one's fund value and the premium that one pays against his insurance plan are eligible for deduction on tax returns. Maturity benefit can be availed at the end of the policy term of your plan. It is paid along with the sum assured. Death benefit is an amount of money paid to the family of the life insured in event of his demise before the end of the policy term. Annuity benefit offers you an opportunity to convert your funds at end of policy term to annuity. Annuity is a type of plan where you pay a lump sum amount at once and reap its benefits after your retirement.

Surrender Value of Vision Life Income and Shriram Secure Investment Plan

Surrender value of Vision Life Income and Shriram Secure Investment Plan is the amount of money that will be provided by the insurance company in case you want to surrender the policy before maturity. Surrender may not be allowed for all types of insurance policies. BSLI Vision Life Income Plan does not allow policy surrender before end of term. Shriram Secure Investment Plan allows surrender of policy.

Bonuses Available for These Plans

Bonuses available for these plans include terminal bonus, reversionary bonus, interim bonus etc. Bonus is an important part of Vision Life Income and Shriram Secure Investment Plan benefits. Terminal bonus is provided by the insurance company to reflect the overall performance of your chosen policy. Reversionary bonus is an amount of money added to your returns on maturity. Terminal bonus is usually announced twice a year. If your policy matures at a date between these two bonus days, you may get an interim bonus.

  • Bonus provided under BSLI Vision Life Income Plan: Terminal Bonus
  • Bonus provided under Shriram Secure Investment Plan: No bonus is provided.

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