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.

• Financial protection to the beneficiary at an affordable premium
• Freedom to choose increasing 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
• Payments can be made monthly, quarterly, half-yearly or annually
• Premium reduction for females
• Choice of 5 Rider options for extra protection
• Income tax benefit

• 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

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

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

Riders – 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

• 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