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Birla Sun Life Term Insurance Plans

If you want to assure your loved ones a financially independent life, the best way is to take a term insurance plan. Birla Sun Life Insurance offers term insurance solutions that ensure financial security of your family with wide range of term plans.

Birla Sun Life has 95.30% as Claim Settlement Ratio. (as per IRDAI Annual Report 2014-15).

Birla Sun Life offers following term plans:

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1. BSLI Protector Plus Plan

People always strive hard to ensure the comfort and happiness of the family. But life is full of uncertainties and that’s why, you need to secure the financial future of the family. BSLI Protector Plus Plan is a traditional term insurance plan with an option to choose higher sum assured. This plan ensures that your family can lead a financially independent life, even when you are not around.

Key Features

• Absolute financial protection at a nominal cost

• Flexibility to choose level or increasing sum assured under the plan

• Avail inbuilt total and permanent disability cover

• Option to avail the death benefit as annual income

• Enhance protection by choosing appropriate riders

• Discounted premium on choosing a healthy lifestyle

Benefits

  • Death Benefit

    In the event of the untimely demise of the life insured, the sum assured is payable to the nominee. The policy is terminated after payment of the death benefit.

    The sum assured on death is higher of 105% of all the premiums paid (till date of death), 10 times the annualized premium, and the sum assured (on date of death). The nominee has the option to take the sum assured on death as a lump sum payout or staggered payment, as per the terms applicable under the plan.

  • Inbuilt Add-on Cover

    In case the life insured is suffering from Total and Permanent Disability within the policy term, 50% of the sum assured (maximum of Rs 50 lacs) is paid. The death benefit does not change, even after the payment for Total and Permanent Disability cover.

  • Rider Benefit

    This plan offers BSLI Accidental Death and Disability Rider, BSLI Surgical Care Rider, BSLI Critical Illness Rider, BSLI Hospital Care Rider, & BSLI Waiver of Premium Rider.

  • Tax Benefit

    The premium payment under the plan is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity - 70 years
Policy Tenure 5 years 30 years
Premium Paying Term Same as policy term Years -
Premium Paying Mode Monthly, Quarterly, Semi Annually & Annually -
Sum Assured 30 Lacs No Limit (subject to underwriting)
Maturity Proceeds Nil -
Surrender Benefit Nil -

2. BSLI Future Guard Plan

You always want to ensure the happiness and security of the family. It is also your responsibility to take care of all the comforts they need. BSLI Future Guard Plan is a traditional non-participating life insurance plan that provides complete financial protection of the family, even in your absence. This plan also provides all your premiums back on its maturity.

Key Features

• Comprehensive financial protection at an affordable cost

• Get your premiums back at the maturity of the policy

• Choose riders to enhance protection

• Multiple policy terms to choose from

• 3 easy steps to buy the plan

Benefits

  • Death Benefit

    The sum assured on death is paid to the nominee, in case of the untimely demise of the life insured during the policy term. In case the life insured is different from the policyholder, the policyholder is entitled to receive the death benefits. After payment of the death benefit, policy will then be terminated.

  • Maturity Benefit

    In case the life insured survives till end of the policy term, he/she will receive 100% of the premiums paid (for Plan A), 110% to 150% of the premiums paid (for Plan B).

  • Rider Benefits

    This plan offers BSLI Accidental Death and Disability Rider, BSLI Critical Illness Rider, BSLI Surgical Care Rider, BSLI Hospital Care Rider, & BSLI Waiver of Premium Rider.

  • Surrender Benefit

    You are entitled to receive surrender benefit value, provided you have paid all due premiums for at least three policy years. Surrender value is higher of Guaranteed Surrender Value or Special Surrender Value.

  • Tax Benefit

    The premium payment under the plan is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity - 75 years
Policy Tenure 10 years 30 years
Premium Paying Term Same as policy term Years -
Premium Paying Mode Monthly, Quarterly, Semi Annually & Annually -
Sum Assured 5 Lacs No Limit (subject to underwriting)

3. BSLI Easy Protect Plan

In today’s hectic lifestyle, it is quite imperative to make proper planning for unforeseen circumstances that can assure financial protection and happiness for your family. BSLI Easy Protect Plan is a traditional term insurance plan

Key Features

• Complete financial protection at affordable premiums

• Two plan options to choose from

• Premium discounts for choosing a healthy lifestyle

• 3-step easy application procedure

Benefits

  • Death Benefit

    In case of unfortunate death of the life insured during the policy term, the sum assured as applicable shall be payable to the nominee. The policy is terminated after payment of the death benefit.

    For level term assurance option, the sum assured remains same through the entire policy term. For increasing term assurance option, the sum assured increases (on every policy anniversary) by a specific percentage as chosen by you.

  • Surrender Benefit

    For regular pay policies, there is no surrender value. For single pay policies, you can get a surrender value immediately after issuance of the policy.

  • Tax Benefit

    The premium payment under the plan is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 55 years
Age at Maturity - 80 years
Policy Tenure 5 years 30 years
Premium Paying Term Regular Pay and Single Pay Years -
Premium Paying Mode Monthly and Annually Only -
Sum Assured 50 Lacs No Limit (subject to underwriting)
Maturity Proceeds Nil -
Rider Benefit Nil -

4. BSLI Protect@Ease

If you are the sole earning member of the family, it’s your onus to secure the happiness of the family. BSLI Protect@Ease is a traditional online term insurance plan, ensuring the financial future of the family, even in your absence.

Key Features

• Ensures financial protection at a reasonable cost

• Choose from two plan options as per your family’s protection needs

• Receive the death benefit as a lump sum or annual income

• Flexible premium payment terms

• Avail discount on premiums for choosing a healthy lifestyle

• Hassle-free online buying procedure

Benefits

  • Death Benefit

    In case of unfortunate death of the life insured during the policy term, the sum assured as applicable shall be payable to the nominee. The policy is terminated after payment of the death benefit.

    For regular pay policies, the sum assured on death is higher of 10 times the annualized premiums, 105% of all the premiums paid (till date of death), or sum assured (as on date of death). For single pay policies, the sum assured on death is higher of sum assured (as on date of death) or 125% of single premiums.

    The nominee has the option to receive the sum assured on death as a lumpsum or staggered payment, as applicable under the plan.

  • Rider Benefit

    This plan offers BSLI Accident Death and Disability Rider, BSLI Critical Illness Rider, BSLI Hospital Care Rider, & BSLI Surgical Care Rider.

  • Surrender Benefit

    For regular pay policies, there is no surrender value. For single pay policies, you can get a surrender value immediately after the policy issuance.

  • Tax Benefit

    The premium payment under the plan is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 55 years
Age at Maturity - 80 years
Policy Tenure 5 years 30 years
Premium Paying Term Regular Pay and Single Pay Years -
Premium Paying Mode Monthly and Annually Only -
Sum Assured 50 Lacs 500 crores (subject to underwriting)
Maturity Proceeds Nil -