Birla Sun Life Insurance (BSLI) Term Plan
Birla Sun Life Term Plan is a pure term insurance policy which offers high coverage at low and attractive premiums. This policy is not necessarily for high coverage but quite affordable even at lower coverage.
Key Features of BSLI Term Plan
- It is a pure Term Insurance Policy with Death Benefit only
- 3 attractive riders of Accidental death and dismemberment rider, critical illness rider and waiver of premium rider available even with single premium option
- Woman discount available for female policyholders and large sum assured rebate
Benefits you get from BSLI Term Plan
Death Benefit – In case of death of the policy holder, the nominee gets the sum assured under the plan
Maturity Benefit – Being a pure term plan, there are no maturity benefits under this plan.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
Eligibility conditions and other restrictions in BSLI Term Plan
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Minimum
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Maximum
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Sum Assured (in Rs.)
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2,50,000 for single premium and 2,00,000 for regular
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No limit
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Policy Term (in years)
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5
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25
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Premium Payment Term (in years)
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Single
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Equal to policy term
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Entry Age of Policyholder (in years)
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18
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55
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Age at Maturity
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NA
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Not Specified
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Single premium
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Not Specified
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Not Specified
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Payment modes
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Single, Annual, Semi-Annual, Quarterly and Monthly
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Sample illustration of premium amount in BSLI Term Plan
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years
Additional Features and Benefits of BSLI Term Plan
Riders – There are 3 riders available in this policy
· Accidental Death and Dismemberment rider
· Critical Illness rider
· Waiver of Premium rider
You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends.
You want to surrender the policy – There are no surrender benefits under this term plan.
You want a loan against your policy – Loan facility is not available under this policy.
Alternate term plans from different insurance companies
IDBI Federal Termsurance - Level Cover
Met Suraksha Plus
Tata AIG Raksha Plan
Other term insurance plans from Birla Sun Life Insurance
BSLI Premium Return Term Plan
BSLI Protector Plan
BSLI Protector Plus Plan
