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Birla Sun Life Insurance Company (BSLI) is a joint venture between Aditya Birla Group and Sun Life Financial Incorporation. Indian conglomerate - Aditya Birla Group and Canada based, Sun Life Financial Inc, an international financial services organizations started BSLI in the year 2000. BSLI was the first Indian Insurance Company to introduce "Free Look Period” which was made mandatory by IRDA.
BSLI ranks amongst the top 7 private life insurance companies in the country.
Birla Sun Life Term Plan helps you to provide financial security for the unforeseen life’s uncertain incidents that may threaten family’s financial stability. To cope up with the loss of income due to the breadwinner’s untimely demise, Birla Sun Life offers Term plan at an affordable cost and high sum assured.
Birla Sun Life Insurance (BSLI) offers different variants of Term insurance plan to provide financial protection against life’s uncertainties.
This is the most basic term-life insurance plan by BSLI. It is a pure death benefit plan. BSLI will pay the Sum Assured to the nominee if the insured dies during the policy period.
This is the basic term-life insurance plan by BSLI with an inbuilt Terminal Illness feature covered. It is a pure death benefit plan. BSLI will pay the Sum Assured to the nominee in the event of the passing away of the insured during the policy period. This plan has much more flexibility when it comes to premiums and payouts.
|Life Event||Enhanced Protection (% of Sum Assured)|
|First Marriage||50% subject to a maximum of Rs. 5,000,000|
|Birth of First Child||25% subject to a maximum of Rs. 2,500,000|
|Birth of Second Child||25% subject to a maximum of Rs. 2,500,000|
You can opt for “Joint Life Protection” wherein one can opt two lives, yours (primary life insured) and your spouse (secondary life insured) under the same policy.
Following are the conditions:
This is the basic term-life insurance plan by BSLI with an inbuilt Total and Permanent Disability feature. It is a pure death benefit plan. BSLI will pay the Sum Assured to the nominee in the event of the death of the insured during the policy period.
The Table below shows the % of Sum Assured over a term
|Payout Term||% Sum Assured|
Term life plan with return of premiums. This is an economical way of providing for protection to your family, financial stability and yet receive all your premiums back at maturity. On maturity, if the insured survives the term, BSLI will refund all the premiums. So it has both Death and Survival Benefit.
|Plan/Policy Term||Plan B|
Note: Sum Assured on Death is the maximum of Sum Assured or Maturity Sum Assured or 10 times the annual premium payable or 105% of total premiums paid to date.
This is another Term life plan with return of premiums. An economical way of providing for protection to your family, financial stability and yet receive all your premiums back at maturity. On maturity, if the insured survives the term, BSLI will refund all the premiums. So it has both Death and Survival Benefit.
Survival Benefit - On maturity, if the insured outlives the term, BSLI will refund all the paid premiums. Two plans are available based on the return of premiums:
Death Benefit - The nominee receives the sum assured along with premiums paid till date, in the case of an untimely demise of an insured during the policy term.
Customize your BSLI Term Plan with Riders. Riders help to widen the scope of the base policy.
In the case of an accidental death of the life insured within 180 days of the occurrence of an accident, BSLI will pay rider sum assured to the nominee. In the case of disability to the life insured caused due to the accident within 180 days of the occurrence of an event, BSLI will pay a percentage of rider sum assured based on the bodily injury.
You can protect against the increasing medical cost. It covers 4 major critical illnesses - First Heart Attack of Specified Severity, Cancer of Specified Severity, Stroke Resulting In Permanent Symptoms, Major Organ / Bone Marrow Transplant. 100% of sum assured on the survival of 30 days after the date of diagnosis.
Straightforward and streamlined BSLI claim process makes it easy to lodge a claim and settle down.
On receiving all the necessary documents, Claim Team will scrutinize claim documents.
Standard Documents Required:
In addition to the standard documents there are other documents required under different case:
Birla Sun Life Insurance Company with a base of two million policyholders is one of the leading Indian Life insurers. BSLI ranks among the Top 7 in private Life Insurance Company.
BSLI has Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors who value Integrity, commitment, passion, seamlessness, and speed. With the range of Term insurance plans that are customizable with the help of different Riders, makes Birla Sun Life Insurance as preferred choice by many.
Who should buy a Term Insurance?
Term insurance is a low cost life insurance plan. With the help of a Term Insurance, you can provide financial protection to your family in case of any unprecedented event. You should opt a Term Insurance if you are a
What are riders?
Riders are paid feature that helps you to widen the scope of the base term insurance policy at very low premiums. Riders offered by BSLI are:
Can I add Riders during policy period?
Yes, you may add any rider as per the provision of the plan. Riders are plan specific. Policy owner must submit following things:
What is the nominee does not have the facility of Electronic Payment?
You must communicate with Claim Team about the same and BSLI will make Claim payment through cheque.
What if nominee also dies along with the life insured?
In that case, the Claimant's statement can be filled by the nearest blood relative. However, there would require some legal documentation and formalities as requested by the Claims Dept.