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

 

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