Description: Birla Sun Life Insurance Premium Back Term Plan is a unique Term Plan that offers you an assured sum throughout the specified term. Unlike other term plans, this one returns the entire amount of premium that you pay over a period of time. Moreover, this is a low cost insurance plan. So opt for our Birla Sun Life Insurance Premium Back Term Plan and rest assured, money will be the least of your worries tomorrow.
Features:
1) You get insurance cover throughout the term of the plan at a reasonable cost.
2) On maturity, the total premiums paid over the term, will be paid back.
3) You have the option to choose from the two versions of plan- 100% Premium Back or 125% Premium Back.
4) In the event of death, the coverage face amount along with the premiums paid till date will be paid back to your nominee.
Benefits:
1)Death Benefit: Under both plans, (100% Premium Back and 125% Premium Back) Coverage Face Amount + 100% Premium back is payable.
2)Maturity Benefit: Under 100% Premium Back Plan, 100% premium back is paid and under 125% Premium Back Plan, 125% premium back is paid.
3)Tax Benefits: As per the current laws, the benefit are under the policy are entirely tax free under Section 10 (10D) and the premium paid by you also enjoy the tax benefit under Section 80C of the Income Tax Act, 1961.
Eligibility:
1) Minimum Coverage Face Amount: The minimum coverage face amount of the plan is Rs.2,00,000/-
2) Term (benefit period): For 100% Premium Back Plan the benefit periods are 10, 15 and 20 years. And, for 125% Premium Back Plan the benefit periods are 15 and 20 years.
3) Minimum Age at entry: 18 years or above.
4) Maximum Age at entry: You should not be more than 50 years of age for the 20 year term plan and 55 years for the 10 and 15 years term plan.
5) Maximum Age at Maturity: The maximum maturity age is 70 years.
6) Surrender Value: The surrender value is available and it varies with the payment term as well as the policy year in which the plan is surrendered.
7) Premium Paying Period: The premium paying period is throughout the benefit period.
8) Premium Paying Frequency: Annual, half-yearly, quarterly or monthly.
