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.
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
Sum Assured (in Rs.)
2,50,000 for single premium and 2,00,000 for regular
Policy Term (in years)
Premium Payment Term (in years)
Equal to policy term
Entry Age of Policyholder (in years)
Age at Maturity
Single, Annual, Semi-Annual, Quarterly and Monthly
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years
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.