Aditya Birla Sun Life Term Insurance
Aditya Birla Sun Life Term Plans offers various attractive features and benefits to provide financial security for your family, protect your family against liabilities and so forth. It offers four term insurance plans, namely Future Guard, Easy Protect, Protectplus and Protect@ease.
Types of Aditya Birla Sun Life Term Insurance Plans:
There are four types of Aditya Birla Sun Life Term Plans as listed below:
BSLI Protector Plus Plan
Feature | Description |
Entry Age | Minimum: 18 years Maximum: 65 years |
Policy Term | Minimum: 5 years Maximum:30 years |
Sum Assured | Minimum: 30 lakh Maximum: No limit |
Premium | Minimum: Rs.3024 Maximum: No limit |
Premium Payment Mode | Yearly, half-yearly, quarterly, monthly |
Death Benefit | Higher of Sum Assured (on the date of death) or 105% of premiums paid till death or 10 times the annual premium is payable. Death benefit is paid either in instalments or in a lump sum. In the instalment mode, the nominee is paid 20% of Sum Assured after death of the insured. The remaining benefit is paid over 10, 15 or 20 years to the nominee at 11%, 8.37% and 7.12% (of Sum Assured) respectively |
BSLI Future Guard Plan
It is term plan that offers return of premium on maturity.
Feature | Description |
Entry Age | Minimum: 18 years Maximum: 65 years |
Policy Term | Minimum: 10 years Maximum:30 years |
Sum Assured | Minimum: Rs.5 lakh Maximum: No limit |
Premium | Variant A: 100% of premiums paid are returned upon maturity Variant B: 110% to 150% of premiums paid are returned |
Premium Payment Mode | Yearly, half-yearly, quarterly, monthly |
Death Benefit | Upon death of the insured, 10*annual premium, higher of Sum Assured or 105% of premiums paid is payable |
BSLI Easy Protect Plan
It is term plan that offers return of premium on maturity.
Feature | Description |
Entry Age | Minimum: 18 years Maximum: 55 years |
Policy Term | Minimum: 5 years Maximum:30 years |
Sum Assured | Minimum: Rs.50 lakh Maximum: No limit |
Premium term | Equal to policy term |
Premium Payment Mode | Yearly, monthly |
Death Benefit | Upon death of policyholder, nominee receives the Sum Assured |
BSLI Protect@ease Plan
It is term plan that offers return of premium on maturity.
Feature | Description |
Entry Age | Minimum: 18 years Maximum: 55 years |
Policy Term | Minimum: 5 years Maximum:30 years |
Sum Assured | Minimum: Rs.50 lakh Maximum: Rs.500 crores |
Premium term | Equal to policy term |
Premium Payment Mode | Yearly, monthly |
Death Benefit | Upon death of the insured, 10*annual premium, higher of Sum Assured or 105% of premiums paid is payable |
Features & Benefits of Aditya Birla Sun Life Term Plan:
- Five riders availed under the Protector Plus are BSLI Accidental Death & Disability Rider, BSLI Critical Illness Rider, BSLI Hospital Care Rider, BSLI Surgical Care Rider and BSLI Waiver of Premium Rider
- Under Protect PLus, there are two coverage options - level sum assured and Increasing Sum Assured (sum assured increases every year @ 5% or 10%)
- Customers can avail of income tax benefits under Section 80C (premiums) and Section 10(10D) (claims) of the Income Tax Act, 1961
Example of Aditya Birla Sun Life Term Plan:
Ram Karan, 30 (non-smoker) opts for Aditya Birla Sun Life term life for a policy term of 30 years. Ram opts for a sum assured of Rs.2 crores for which he pays an annual premium of Rs.17,919 (inclusive of service tax at 14% and Swachh Bharat at 0.5%). In the event of his unfortunate death, his nominee will receive Rs.2 crores. Premium will be terminated after his death.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017
FAQs on Aditya Birla Sun Life Term Plans :
- What are the various types of Aditya Birla Sun Life Term Plans?
The four types of term plans are Protector Plus Plan, BSLI Future Guard Plan, BSLI Easy Protect Plan and BSLI Protect@ease plan.
- What is the death benefit as per BSLI Protect@ease plan?
Upon death of the insured, 10*annual premium, higher of Sum Assured or 105% of premiums paid is payable.
- What is the minimum sum assured for BSLI Easy Protect Plan?
The minimum sum assured under the BSLI Easy Protect Plan is Rs.50 lakh.
- Under which plan are women given rebates on premiums?
Women can avail of lower premium rates under BSLI Easy Protect plans.
- What are the coverage options available under BSLI Protect @ Ease Plan?
BSLI Protect @ Ease Plan offers two coverage options. Customers can avail of the Level Sum Assured option wherein Sum Assured does not change throughout the tenure of the plan and Increasing Sum Assured wherein Sum Assured increases at 5% every year or 10%.
- What are the riders available under the BSLI Future Guard Plan?
BSLI Future Guard Plan offers five riders, namely BSLI Accidental Death & Disability Rider, BSLI Surgical Care Rider, BSLI Critical Illness Rider, BSLI Waiver of Premium Rider and BSLI Hospital Care Rider.
- What are the variants available under BSLI Future Guard Plan?
This plan offers two variants. As per variant A, 100% premiums are returned upon maturity while as per variant B, 110% to 150% of premiums paid are returned based on the term of the plan.
- What is the premium payment mode for BSLI Protect@ease plan?
Yearly and monthly.
- What is the minimum sum assured under the BSLI Future Guard plan?
Rs.5 lakh.
- What is the maximum sum assured under the BSLI Protect@ease plan?
Rs.500Crores
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