Home
×

BSLI Wealth Secure Plan
BSLI Wealth Secure Plan




ADD
Compare

Wealth Secure Benefits

1 Loan And Benefits
1.1 Loan
59% Whole Life Insurance Plans Life insurance plans have it !
1.2 Surrender
94% Whole Life Insurance Plans Life insurance plans have it !
1.2.1 Surrender Value
Not Available
1.3 Benefits
1.3.1 Tax
98% Whole Life Insurance Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C.
1.3.3 Service Tax
Applicable
1.3.4 Maturity
89% Whole Life Insurance Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Not Applicable
1.3.6 Death
99% Whole Life Insurance Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever is higher as Death Benefit.
1.3.8 Annuity
No Whole Life Insurance Plans Life insurance plans has it !
1.4 Bonus
Not Available

Wealth Secure Loan

Wealth Secure loan is an amount that is borrowed from the insurance company which has to be returned with interest within fixed time. Policy loan, surrender value, bonus, benefits are included under BSLI Wealth Secure Plan loan and benefits. BSLI Wealth Secure Plan Terms and Conditions for policy loan are specified by the company. This insurance policy does not provide loan. If any insurance policy provides loan then this amount will be some percentage of surrender value.

Wealth Secure Surrender

Wealth Secure 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 Wealth Secure Plan Premium for three continuous years. Surrender value is also known as cash surrender value or cash value.

BSLI Wealth Secure Plan Bonus

BSLI Wealth Secure 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 Wealth Secure 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.

Benefits Under Wealth Secure

Benefits under Wealth Secure include tax benefit, death benefit, maturity benefit and annuity benefit. Tax is applicable for this plan. Maturity is not applicable for this plan. Death can be availed under this policy. Annuity cannot be availed under this policy.

  • Tax benefit amount: Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C.
  • Death benefit amount: In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever is higher as Death Benefit.

If BSLI Wealth Secure Plan offers tax benefit, then the premiums you pay are eligible for deduction on tax returns and so is a part of the money you get on maturity of the policy. Maturity benefit is the amount of money you get at end of the policy term. Because of death benefit, family of the policy holder receives all the returns in the event of demise of the policy holder. With annuity benefit, you have an opportunity to secure your life financially after retirement. Annuity provides a regular source of income after retirement.

Let Others Know
×