This term insurance plan provides financial security to your loved ones with options to choose the same assured for the entire term or increasing Sum Assured by 5% or 10% every year. You can select minimum Sum Assured of Rs 50 Lakhs. For people who want a higher protection, there is no limit on the maximum Sum Assured. The premium rates are different for males (smoker and non-smoker) and or females (smoker and non-smoker).
Compare Term Insurance Plans
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
50,00,000 |
No Limit |
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 |
The below illustration is for a healthy Male (non-smoker), Age = 35 years opting for a Sum Assured = Rs 1 Crore and Policy Term = 20 years
Sum Assured Options – 3 options to suit varying customer needs
§ 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 at an extra amount
Step 1: Choose your sum assured and plan option (Level term/Increasing term)
Step 2: Choose your Policy Term and Premium Paying Term
Let's Understand The Plan With An Example:
Atul, a 35 year old professional, chooses BSLI Protector Plus Plan with the Sum Assured of Rs. 10,000,000. The below table explains the premiums as per the selected Sum Assured options.
Premiums shown above are prior to service tax and education cess as applicable.
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