BSLI Term Plan

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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

 

 

Minimum

Maximum

Sum Assured (in Rs.)

2,50,000 for single premium and 2,00,000 for regular

No limit

Policy Term (in years)

5

25

Premium Payment Term (in years)

Single

Equal to policy term

Entry Age of Policyholder (in years)

18

55

Age at Maturity

NA

Not Specified

Single premium

Not Specified

Not Specified

Payment modes

Single, Annual, Semi-Annual, Quarterly and Monthly

 

 

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

BSLI Term Plan Sample Premiums

 

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

 

 

What happens if?

 

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

 

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the BSLI Term Plan brochure and insurance company's website. It should not be construed as a Critical or Favourable BSLI Term Plan Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


Leave a Comment

Very easy explanation thanks

By Gajendra Verma on Aug 30, 2013 Reply

Sir,
I have taken three policy in my name as no.-005881411,005846269 & 005921406 of birla sun life insurance.Due to my personel problem I want to cancelled policy no-005921406 which policy issue date is 29/01/2013.
So, kindly please advice for the same as early as possible at your end.

name of policy owner -chandra shekhar sharma
B.G.R TOWNSHIP QTR. 174/A.(I.O.C.L.)
P.O.-DHALIGAON
DIST-CHIRANG.(ASSAM)
PIN CODE -783385.

By C.S.Sharma on Mar 01, 2013 Reply

sir i have a policy on ur company birla sun life. my policy in begining ur company say,u have to pay only 3year ,then i regulary pay for 3year .after 3 year now ur company say,to give more premium for this policy.now i am not abal to pay .so i want to back my money .plz help me sir...................................

By @Nup on Feb 20, 2013 Reply

>It is very expensive as compared to other peer companies term insurance products.

By Jitendra Das on Feb 27, 2012 Reply

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