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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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Payment Flexibility
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Rider Benefit
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Sum Assured
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Key Features

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Financial protection

Financial protection to the beneficiary at an affordable premium

Freedom to choose

Freedom to choose increasing Sum Assured

Sum Assured

On choosing Increasing Sum Assured of 5% or 10%, the Sum Assured increases by the same percentage without any increase in the premium amount

Sum Assured Options –

  • Level Term – Sum Assured remains constant for the entire policy term
  • Increasing Sum Assured @ 5% – Sum Assured gets increased by 5% on every policy anniversary
  • Increasing Sum Assured @ 10% – Sum Assured gets increased by 10% on every policy anniversary
Payment Flexibility

Payments can be made monthly, quarterly, half-yearly or annually

Premium reduction for females
Rider Benefit

There are 5 rider options available in this policy at a very affordable cost:

  • Critical Illness Rider
  • Accidental Death and Disability Rider -
  • Surgical Care Rider
  • Waiver of Premium Rider
  • Hospital Care Rider

Benefits

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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

How it works

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The below illustration is for a healthy Male, Age = 35 years opting for a Sum Assured = Rs. 20 lakhs and Policy Term = 20 years

BSLI Protector Plan Sample Illustration of Premium Rates

Eligibility

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  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

FAQs

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angle down iconWhat 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

angle down iconWhat happens if you want to surrender the policy?

There are no surrender benefits under this term plan

angle down iconWhat happens if you want a loan against your policy?

No loan available under this policy