Birla Sun Life Insurance Review
Life Insurance, in today’s increasingly uncertain world, has the top priority so that you ensure your family continues to have financial security and good lifestyle in your presence and absence. Birla Sun Life Insurance (BSLI) offers term life insurance plans that are economical and a simple way of achieving the objective regardless of the future in store for you.
Different Insurance plans
Birla sun Life Insurance plans assist you in meeting financial security and also in providing the life cover depending on your needs at a reasonable premium. It is always best to consider:
- BSLI Protector Plus Plan: This is a plan that offers financial security and is able to meet the growing needs to maintain a healthy lifestyle.
- BSLI Future Guard Plan: This plan offers financial freedom completely even in your absence that it really guards your loved ones.
- BSLI Easy Protect Plan: In this plan the responsibilities of your life may be steady or may escalate and on selecting this plan, you can protect your family from extra liabilities of life so that it is met easily.
- BSLI Protect @Ease Plan: This plan deals with the growing expectations and secures the financial future. it offers the perfect protection solution.
BSLI Protector Plus Plan Details
You may apply by choosing your plan option and sum assured. Next is to choose the policy and premium paying terms. The requirement is that you must be 18 to 65 years and the policy term is 5 to 30 years, maximum maturity age is 70 years and the sum assured is Rs. 30, 00,000 as minimum.
- Total financial protection at affordable costs
- Receive annual income as death benefit
- Meet the rising costs of living with increasing sum assured option
- Enhance your insurance with rider options
- Enjoy rewards for healthy lifestyle
BSLI Future Guard Plan Details
Choose the plan type and that you want at the policy term end such as: 1. 100% return on the premiums paid and 2. 110% to 150% return on the premiums paid based on the policy term. Then choose the policy term as 10, 15, 20 and so on years, choose the sum assured to by payable on the life insured’s death. The premium is based on the gender, age, policy term, plan type and sum assured. Choose as per your suitability.
Similar facilities are available with BSLI Easy protect plan and BSLI Protect @ ease plan.
Another one such sunlife life insurance plan is the Birla Sun Life Vision Plan. This is a whole life plan where the returns are assured and no bonus is declared in this plan. The premium in this plan is paid till the guaranteed survival benefit term end and monthly additions are accrued at each policy month end until the premiums are being paid.
- Whole life plan featuring limited payment option
- Premium to be paid till the end of the term
- Survival benefit is guaranteed and is paid on the end of the tenure chosen, yet your policy is alive until the insured person is 100 years of age.
- There is monthly additions accrued until the premium is paid
- In case monthly additions get accrued for 21 years, enhancement of monthly additions is featured.
- 5 additional riders come in this plan and sum assured rebate is provided.
- Death Benefit – In case the Life Insured dies within the Policy Tenure, the death benefit is paid to the nominee and the policy gets terminated.
- Survival Benefit— At the survival benefit end term, the Sum Assured + accrued Monthly Additions + enhanced Monthly Additions for more than 21 years is paid as the Survival Benefit and policy keeps continuing.
- Maturity Benefit – At the Policy tenure end and if the Life Insured survives 100 years of age, the Sum Assured is paid as Maturity Benefit and the policy gets terminated.
- Income Tax Benefit – Life Insurance premiums paid upto Rs. 1,00,000 features deduction from the taxable income under section 80C and the Maturity Proceeds under section 10(10)D are tax free.
Loan facility is available after the 3rd policy year, starting from Rs. 5,000 and the maximum loan is 90% of the Surrender Benefit. This proves the value of having Birla Sun Life Insurance.