BSLI High Net Worth Term Plan

Birla Sun Life High Net Worth Term Plan is a pure term plan for high coverage. Thus if someone wishes to buy a vanilla term plan for a very high sum assured, then this plan is a very good option. In this plan also, like any other pure term plans, the sum assured is paid to the nominee if the life insured dies and nothing is payable on maturity.

• It is a pure Term Insurance Policy with Death Benefit only and no maturity benefit
• Attractive discounts for women, non-smokers and healthy non-smokers
• Discount is available even for good family history
• 3 attractive riders of Accidental death and dismemberment rider, Critical Illness rider and Waiver of Premium rider for every individual
• Special Critical Illness Women rider for female policyholders to cover woman specific illness, pregnancy related complications, delivery complications and anomalies in new-born babies. 

• Death Benefit – In case of death of the policy holder, the nominee gets the entire sum assured under the plan that has been opted for.
• Maturity Benefit – No Maturity benefits available in this policy.
• 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.

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 4 riders available in this policy

·         Accidental Death and Dismemberment rider

·         Critical Illness rider

·         Critical Illness Women 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. It can however be re-instated within 2 years from the first unpaid premium.
• You want to surrender the policy – There are no surrender benefits under this High Net Worth Term Plan.
• You want a loan against your policy – Loan facility is not available under this policy.