• Term Life
  • Investment

BSLI Protector Plus Term Plan

Protector Plus Plan from Aditya Birla Sun Life 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.

Features of BSLI Protector Plus Term Plan

  • Complete financial security
  • Affordable premiums
  • Helps maintain the standard of living, even after the policyholder’s demise
  • Flexibility to receive Death Benefit as Annual Income
  • Customised solutions through add-on rider options to enhance the effectiveness of the term plan

Benefits of ABSLI Protector Plus Plan

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:

  • Lump sum payment
  • Staggered payment

    • One-time payout of 20% of sum assured on the death at the time of claim settlement
    • Annual income as a fixed percentage of sum assured is payable after death, on each death anniversary of the life insured throughout the selected payout term The fixed percentage of sum assured on death for different payout terms to calculate the annual income is given below: Payout term
Payout term% of Sum Assured on Death
10 years11%
15 years8.37%
20 years8.37%

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.

Eligibility Criteria for BSLI Protector Plus Plan Application

ParametersMaximumMaximum
Entry Age18 years65 years
Sum Assured Option
I – Level Term Assurance
II – Increasing Term Assurance
NA
Policy Term5 years30 years
Maturity AgeNA70 years
Premium Paying TermRegular PayRegular Pay
Premium ModeAnnual, Semi-annual, Quarterly and Monthly --
Sum AssuredRs. 30,00,000No Upper Limit (subject to the underwriter)
Premium Payment Rs. 3,024 --

Premium Details

Premium starts from a minimum of Rs. 3,024.

The below table explains the premiums as per the selected Sum Assured options.

Policy Term10 years20 years30 years10 years20 years30 years10 years20 years30 years
Sum Assured OptionSmokerNon-SmokerPreferred Non-Smoker
Level14,59020,07027,53011,39014,89020,08010,63013,67018,260
Increasing @ 5%16,47027,62045,09012,54019,60031,43011,72017,79028,160
Increasing @ 10%18,59035,37062,78013,90024,62042,88012,81022,15038,270

Premiums shown above are prior to service tax and education cess, as applicable.

Add-on Rider Benefits: BSLI Protector Plus Plan

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.

Documents Required

Following are the documents required while applying for BSLI Protector Plus Plan

  • Proposal form, duly filled up with accurate details
  • Proof of Address (PoA), self-attested at the time of submission
  • Proof of Identity (PoI), self-attested at the time of submission
  • Proof of Income, self-attested at the time of submission
  • Passport size photographs

Accepted Proof of Address and Identity are:

  • Aadhaar card
  • PAN card
  • Passport
  • Driving License
  • Ration card
  • Matriculation or School-leaving or Transfer Certificate
  • Certificate of Birth issued by the Registry of Births and Deaths (RBD), or from a Municipality, as per the provisions of the RBD Act
  • EPIC (Electoral Photo Identity Card) issued by the Election Commission of India
  • Person of Indian Origin Card / Overseas Citizenship of India Document (whichever is applicable)

Exclusions - BSLI Protector Plus Plan

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.

Review of BSLI Protector Plus Term Plan

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.

FAQs on BSLI Protector Plus Term Plan

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:

  • Lump sum payment
  • Staggered payment
  • One-time payout of 20% of sum assured on the death at the time of claim settlement
  • Annual income as a fixed percentage of sum assured is payable after death, on each death anniversary of the life insured throughout the selected payout term

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.

  • Aadhaar card
  • PAN card
  • Ration card
  • Driving License
  • Passport
  • Matriculation or School-leaving or Transfer Certificate
  • Certificate of Birth issued by the Registry of Births and Deaths (RBD), or from a Municipality, as per the provisions of the RBD Act
  • EPIC (Electoral Photo Identity Card) issued by the Election Commission of India
  • Person of Indian Origin Card / Overseas Citizenship of India Document (whichever is applicable)

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:

  • ABSLI Surgical Care Rider
  • ABSLI Hospital Care Rider
  • ABSLI Waiver of Premium (WoP) Rider
  • ABSLI Accidental Death and Disability Rider
  • ABSLI Critical Illness Rider
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