Protector Plus Plan from Birla Sun Life Term Insurance offers a high sum assured as Death Benefit. Most importantly, these benefits are available at affordable premiums. It is especially aimed at assuring policyholders that their families would be financially secure, even in the unfortunate event of their demise during the policy term.
Death Benefit: In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Death will be paid to the nominee. The policy shall be terminated once the Death Benefit is paid. The sum assured can be opted for in any of the following options, as per the policyholder’s preference:
Staggered payment
| Payout term | % of Sum Assured on Death |
|---|---|
| 10 years | 11% |
| 15 years | 8.37% |
| 20 years | 8.37% |
Sum Assured Options –
I. Level Sum Assured - Chosen sum assured will remain constant for the entire policy term.
II. Increasing Sum Assured – Under this option, the sum assured increases by 5% simple p.a. or 10% simple p.a., as chosen at inception without any increase in your premium amount.
Total and Permanent Disability (TPD) Benefit: 50% of the sum assured is payable to the life insured suffering from Total and Permanent Disability during the policy tenure, up to a maximum of Rs. 50,00,000. However, this will not affect the Death Benefit, if and when the need arises.
Tax Benefits: Tax benefits can be availed by ABSLI Protector Plus policyholder as per Section 80C and Section 10(10D) of the Income Tax Act, 1961.
| Parameters | Maximum | Maximum |
|---|---|---|
| Entry Age | 18 years | 65 years |
| Sum Assured Option | I – Level Term Assurance II – Increasing Term Assurance |
NA |
| Policy Term | 5 years | 30 years |
| Maturity Age | NA | 70 years |
| Premium Paying Term | Regular Pay | Regular Pay |
| Premium Mode | Annual, Semi-annual, Quarterly and Monthly | -- |
| Sum Assured | Rs. 30,00,000 | No Upper Limit (subject to the underwriter) |
| Premium Payment | Rs. 3,024 | -- |
Premium starts from a minimum of Rs. 3,024.
The below table explains the premiums as per the selected Sum Assured options.
| Policy Term | 10 years | 20 years | 30 years | 10 years | 20 years | 30 years | 10 years | 20 years | 30 years |
| Sum Assured Option | Smoker | Non-Smoker | Preferred Non-Smoker | ||||||
| Level | 14,590 | 20,070 | 27,530 | 11,390 | 14,890 | 20,080 | 10,630 | 13,670 | 18,260 |
| Increasing @ 5% | 16,470 | 27,620 | 45,090 | 12,540 | 19,600 | 31,430 | 11,720 | 17,790 | 28,160 |
| Increasing @ 10% | 18,590 | 35,370 | 62,780 | 13,900 | 24,620 | 42,880 | 12,810 | 22,150 | 38,270 |
Premiums shown above are prior to service tax and education cess, as applicable.
BSLI Surgical Care Rider: In instances where the life insured is hospitalised for the purpose of undergoing a surgery, the insurance company will be paid a lump sum amount to cover your expenses.
BSLI Hospital Care Rider: Daily Cash Benefit is offered to the life insured to meet the incurred hospital and medical expenses. In case of treatment in an Intensive Care Unit, the life insured will be eligible for Enhanced Daily Cash Benefit. He/she will also be able to avail a lump sum amount on being hospitalised for more than seven days for the same illness or medical condition.
BSLI Waiver of Premium (WoP) Rider: This rider waives off the premium payments when the life insured or policyholder is unable to make the payments because of reasons that challenge his/her source of income - physical disability, critical illness or an untimely demise. In such cases, all future premiums will be paid by ABSLI, while all the policy benefits will continue as per the terms of the BSLI Protector Plus Plan.
BSLI Accidental Death and Disability Rider: In case of death owing to an accident, the nominee of ABSLI Protector Plus Plan will receive the chosen Rider Sum Assured up to a maximum of Rs. 50,00,000. In case of disability due to an accident, the policyholder will receive a fixed percentage of the rider sum assured, depending on the type of injury.
BSLI Critical Illness Rider: The life insured is eligible for up to 100% of the rider sum assured on being diagnosis of any of the four illnesses or medical conditions - Heart attack, cancer, major organ transplant and stroke.
Following are the documents required while applying for BSLI Protector Plus Plan
Accepted Proof of Address and Identity are:
Death Benefit is not payable in cases where the cause of death is suicide, which occurs during the first policy year or within one year from the date of reinstatement.
BSLI or Birla Sun Life Insurance is one of the pioneers among Indian life insurance companies. It is rated as one of the leading players among the top private life insurance companies in the country.
BSLI is well equipped with a robust distribution network of more than 500 cities, 560 branches and approximately 85,000 advisors. They are skilled experts who have vast industry knowledge and experience in the Indian insurance market. Apart from the features and benefits offered by BSLI Premium Back Term Plan, the additional riders enable policyholders to customise their plans according to their unique investment goals.
What are the types of payout options offered as Death Benefit against BSLI Protector Plus Plan?
Below are the Death Benefit payout options offered against ABSLI Protector Plus Plan:
What are the documents that are accepted as valid proofs of identity and address while applying for ABSLI Protector Plus Plan?
Below is the list of documents that are accepted as valid Proofs of Identity and Address at the time of application for ABSLI Protector Plus Plan.
What are the sum assured options for BSLI Protector Plus Plan?
The sum assured options offered against ABSLI Protector Plus Plan: Level Term Assurance, wherein the pre-decided sum assured remains constant throughout the policy term. Increasing Term Assurance, wherein the sum assured increases during the policy term @ 5% or 10%, as per the preference of the policyholder. What are the rider options available with ABSLI Protector Plus Plan? The add-on rider options offered against ABSLI Protector Plus Plan are:
