BSLI Term Plan

Birla Sun Life Term Plan is a pure term insurance policy which offers high coverage at low and attractive premiums. This policy is not necessarily for high coverage but quite affordable even at lower coverage.

• It is a pure Term Insurance Policy with Death Benefit only
• 3 attractive riders of Accidental death and dismemberment rider, critical illness rider and waiver of premium rider available even with single premium option
• Woman discount available for female policyholders and large sum assured rebate

• Death Benefit – In case of death of the policy holder, the nominee gets the sum assured under the plan
• Maturity Benefit – Being a pure term plan, there are no maturity benefits under this plan.
• 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 3 riders available in this policy

·         Accidental Death and Dismemberment rider

·         Critical Illness 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.
• 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.