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Term insurance plans are plans designed to meet the income protection need of individuals who want to create a corpus for their families in the event of their untimely demise. The plan offers benefits to the policyholders family in case of death and costs very little. No other benefit is provided in case of maturity though some term plans do offer the premiums paid over the course of the tenure to the policyholder if he survives till maturity but such plans are priced higher.

The plan promises a considerable sum of money in difficult times when the family needs a source of income after the death of the breadwinner. By providing this source of income, term plans take away a great deal of financial burden faced by the deceaseds family. Moreover, the plans are priced very low and thus become easily affordable by every individual. This plan is the basis of life insurance and should be bought to secure your family.

Birla Sun Life Insurance Company offers a range of Term Plans to suit the needs of every individual whether it is for pure protection purposes or for securing loans. Let us take a look at the range of term plans offered by Birla Sun Life Insurance Company and the respective features. Birla Sun Life Term Plan – Protector Plus Plan Its a traditional Birla Sun life term plan where the premiums are required to be paid for the entire tenure of the plan. Important facets of the plan are given below: There are two coverage options under the plan namely Level Sum Assured where the Sum Assured remains uniform throughout the tenure of the plan and Increasing Sum Assured where the Sum Assured increases every year @5% or 10% as chosen by the policyholder. In case of death of the insured during the tenure of the plan, higher of the available Sum Assured as on the date of death or 10 times the annual premium or 105% of all premiums paid till death is payable to the nominee The nominee has an option to avail the death benefit in lump sum or in instalments. Under the instalment option, 20% of the Sum Assured is paid on death and the remaining benefit can be availed over a period 10, 15 or 20 years @11%, 8.37% or 7.12% of the Sum Assured respectively. Females are charges lower rates of premiums There are differential rates of premiums for smokers. Non-smokers and preferred non-smokers This Birla Sun life term plan has an inbuilt Total & Permanent Disability rider under which if the insured suffers a disability, 50% of the Sum Assured is paid immediately. There are 5 other riders which can be availed under the plan which are: BSLI Accidental Death & Disability Rider BSLI Critical Illness Rider BSLI Surgical Care Rider BSLI Hospital Care Rider BSLI Waiver of Premium Rider The benefit of tax relief is also available under the plan Eligibility Details Birla Sun Life Term Plan – Future Guard Plan Its a Birla sun life term plan with return of premium option wherein the premiums paid are returned on maturity. The features and benefits of the plan are as follows: The premium underthis Birla Sun life term plan is payable for the entire duration of the plan The plan comes in two variants of A and B. Under variant A, 100% of the premiums paid are returned on maturity. Under variant B, 110% to 150% of the premiums paid are returned depending on the plan term chosen. On death of the insured during the tenure ofthis Birla Sun life term plan, higher of the Sum Assured or the maturity Sum Assured or 10 times the annual premium or 105% of total premiums paid till death is payable to the nominee Females are charges lower rates of premiums There are 5 other riders which can be availed underthis Birla Sun life term plan which are: BSLI Accidental Death & Disability Rider BSLI Critical Illness Rider BSLI Surgical Care Rider BSLI Hospital Care Rider BSLI Waiver of Premium Rider Tax benefit is applicable on the premiums paid and also on the claims received Eligibility Details Birla Sun Life Term Plan – Easy Protect Plan A basic term insurance plan with the following features: The premiums underthis Birla Sun life term plan can be paid for the entire duration of the plan or in a lump under the Single Pay option of premium payment There are two coverage options underthis Birla Sun life term plan namely Level Sum Assured where the Sum Assured remains uniform throughout the tenure of the plan and Increasing Sum Assured where the Sum Assured increases every year @5% or 10% as chosen by the policyholder. On death, the available Sum Assured is paid to the nominee Females are charges lower rates of premiums There are differential rates of premiums for smokers. Non-smokers and preferred non-smokers Sections 80C and 10(10D) provide tax relief on the premium and claim Eligibility Details Birla Sun Life Term Plan – Protect @ Ease Plan An online term insurance plan which provides a high coverage at lower rates of premium. The features of the plan are as follows: The premiums under the plan can be paid for the entire duration of the plan or in a lump under the Single Pay option of premium payment There are two coverage options underthis Birla Sun life term plan namely Level Sum Assured where the Sum Assured remains uniform throughout the tenure of the plan and Increasing Sum Assured where the Sum Assured increases every year @5% or 10% as chosen by the policyholder In case of death of the insured during the tenure of the plan, higher of the available Sum Assured as on the date of death or 10 times the annual premium or 105% of all premiums paid till death is payable to the nominee If Single Premium is paid underthis Birla Sun life term plan, the death benefit would be higher of 125% of the single premium paid or the Sum Assured as on the date of death. The nominee has an option to avail the death benefit in lump sum or in instalments. Under the instalment option, 20% of the Sum Assured is paid on death and the remaining benefit can be availed over a period 10, 15 or 20 years @11%, 8.37% or 7.12% of the Sum Assured respectively. There are differential rates of premiums for smokers. Non-smokers and preferred non-smokers