Indore, India (PressExposure) July 14, 2011 -- Is your term plan equipped to keep pace with increasing responsibilities?
Birla Sun Life Insurance presents term solutions with increasing sum assured at no extra premium Launches BSLI Protector Plan & BSLI Protector Plus Plan
Birla Sun Life Insurance Company, a joint venture of Aditya Birla Group and Sun Life Financial Inc. has announced the launch of its new term plan offerings - Protector Plans. These plans offer flexibility to customers by giving them the option to increase their sum assured over a period rising out of increasing responsibilities and inflation, at no extra cost. The Protector plan is available in two variants; BSLI Protector Plan and BSLI Protector Plus Plan.
Says Mayank Bathwal, Chief Financial Officer and Head - Institutional Sales, "Over time, an individual's responsibilities grow and this, coupled with lifestyle improvements, makes one realize the need for increased protection. To ensure that one's loved ones continue to enjoy the same comforts, even under unforeseen circumstances, there was a need for a plan that could keep pace with changing requirements."
He further adds "BSLI has repeatedly been able to not just assess consumers' evolving needs, but also introduce innovative solutions time and again that have set industry benchmarks. Keeping these customer needs in mind for a term plan that can grow with growing responsibilities; BSLI has introduced BSLI Protector Plans that aim to ensure a family's financial security as per their evolving life cycle needs at affordable cost"
Both plans offer customers the flexibility of opting for a constant or increasing Sum Assured at inception. Customers, who opt for an increase in Sum Assured, have the option of increasing it by 5% or 10% every year, in order to factor in growing needs and responsibilities. Under this facility, on every policy anniversary, the Sum Assured increases by 5% or 10%.
For added protection, both plans can be enhanced with the following riders:
BSLI Accidental death and disability rider UIN: 109C018V01
BSLI Critical illness rider UIN: 109C019V01
BSLI Surgical care rider UIN: 109C015V01
BSLI Hospital care rider UIN: 109C016V01
BSLI Waiver of premium rider UIN: 109C017V01
While, blending complete financial protection with affordability, the two plans also offer an additional advantage of lower premium for women.
Key features of the BSLI Protector Plans:
Option to increase sum assured at no extra cost
Choice of 5 additional riders to enhance your policy protection
Flexibility of premium paying frequency: Annual / Semi - Annual / Quarterly / Monthly
Income Tax benefits as per prevailing norms under the Income Tax Act, 1961
Additionally, Protector Plus Plan offers the following benefits:
Special premium rates for non-smokers
Special premium rates for women
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