Birla Sun Life Insurance (BSLI) Protector Plan
This is a term plan that helps you secure your family’s future financial needs. In a term plan, if the policy holder dies then the insurance company pays the sum assured to the nominee. However, if the policy holder survives the policy term then no money is paid on maturity.
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Key Features of BSLI Protector Plan
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Benefits you get from BSLI Protector Plan
Death Benefit - In case of Death of the Life Insured the Sum Assured is paid to the nominee and the policy ends
Maturity Benefit – If the policyholder (life insured) survives till the end of the policy (maturity), then no benefit is payable and the policy ends
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 Protector Plan
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
5,00,000 |
49,99,999 |
Policy Term (in years) |
5 |
30 |
Premium Payment Term (in years) |
Equal to policy term |
Equal to policy term |
Entry Age of Policyholder (in years) |
18 |
65 |
Age at Maturity (in years) |
- |
75 |
Payment modes |
Annual, Half-yearly, Quarterly & Monthly |
Sample illustration of premium amount in BSLI Protector Plan
The below illustration is for a healthy Male, Age = 35 years opting for a Sum Assured = Rs. 20 lakhs and Policy Term = 20 years
Additional Features and Benefits of BSLI Protector Plan
Sum Assured Options –
Riders – There are 5 rider options available in this policy at a very affordable cost
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 – No loan available under this policy