• BSLI SecurePlus Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    The BSLI Secure Plus Plan is a traditional, non-participating life insurance plan from BSLI that provides policyholders with customisable benefits as well as income benefits. Policyholders can choose income benefits of up to 600% of their premium, in addition to benefiting from an in-built accidental death benefit, thus doing away with the need for riders or add-on plans to supplement the life coverage provided by the base policy. The policy has a fixed tenure of 13 years with a premium paying term of 12 years. Following this, the policyholder stands to receive the guaranteed income benefit for either 6 years or 12 years based on the policyholder’s requirements. The policy also pays out a maturity benefit as well as a death benefit, ensuring the policyholder’s dependents are well provided for in the event of the life insured’s untimely death.

    Eligibility- Who is the BSLI Secure Plus Plan for?

    The BSLI Secure Plus Plan is ideal for individuals who wish to avail of life coverage as well as enjoy benefits associated with their insurance cover. The plan provides a policyholder with basic life cover as well as accidental death cover, in addition to providing a choice of income benefits. The policy is an individual policy with the life cover extended to a single individual only. The policy has certain eligibility criteria that have to be met, which are listed in the below table:

    Parameter Eligibility
    Minimum age at entry 5 years
    Maximum age at entry 50 years
    Maximum maturity age 63 years
    Policy tenure 13 years
    Premium paying term 12 years
    Premium paying frequency Annual
    Minimum sum assured Rs.7,25,000
    Minimum premium Rs.50,000

    Sum Assured and Premium Range- What You Get and What It Costs

    Sum Assured:

    The sum assured under the BSLI Secure Plus Plan is the amount that the policyholder stands to receive from the company and excludes any benefits or taxes. The minimum sum assured amount under the policy is Rs.7,25,000 with no limit on the maximum, subject to underwriting as per prevailing rules and regulations.


    The premium is the amount the policyholder pays the company as a fee for the life coverage provided. The minimum premium amount under the policy is Rs.50,000 with the maximum being subject to the sum assured chosen by the policyholder. The policy provides for an annual premium payment mode only. The guaranteed income benefit would be calculated on the basis of the premium amount paid.

    Plan Coverage- What the BSLI Secure Plus Plan covers

    The BSLI Secure Plus Plan works in the following way:

    • The individual chooses the premium amount, subject to the minimum sum assured amount being met.
    • The individual then chooses the income benefit option from the two mentioned below:
      • Income Benefit Option A- An income benefit equal to 100%, 200%, 300%, 400%, 500% and 600% of the annual premium would be paid at the end of every year during the payment period for 6 years.
      • Income Benefit Option B- An income benefit equal to 200% of the annual premium would be paid at the end of every year over a 12-year period.
    • Subject to the policyholder paying all premiums and the policy being in force, the annual income benefits would be paid out after the policy term ends.

    The coverage under the plan is as follows:

    Income benefit The policyholder chooses the income benefit option as per his/her requirement, and the income benefit would be paid on completion of the policy term, provided all premiums have been paid and the policy is still in force.
    Maturity benefit The policyholder can choose to receive the income benefit as a lump sum at policy maturity. The amount payable would be computed at a rate of 9% p.a. as discounting rate.
    Death benefit during policy term In the event of the death of the policyholder during the policy term, the higher of the following will be paid to nominees:
    • 10 times the annualised premium
    • Sum assured
    • Maturity sum assured
    • 105% of total premiums paid till the date the death (excluding rider premiums and tax)
    Death benefit during payment term In the event of the death of the policyholder during the payment term, the income benefit will be paid to the nominee/nominees.
    Accidental death benefit In the event of the policyholder’s accidental death, the accidental death benefit will be paid out to the nominee/nominees. This is in addition to the death benefit payable.

    Riders/ Add-on Plans

    Additional coverage under the BSLI Secure Plus Plan

    The BSLI Secure Plus Plan provides policyholders with a number of benefits, as mentioned above. The policy provides basic life cover as well as cover in the event of the policyholder’s accidental death. Policyholders can choose to enhance the cover provided under the base plan by opting for riders. These riders can be added to the base policy at the time of policy inception or at the start of a policy year. Premiums for riders are additional and the rider tenure cannot exceed the base policy tenure. The riders available under the BSLI Secure Plus Plan are listed below:

    • BSLI Critical Illness Rider: Under the rider, the policyholder will receive 100% of the rider sum assured on diagnosis of the following critical illnesses:
      • Cancer of specified severity.
      • First heart attack of specified severity.
      • Major organ/bone marrow transplant.
      • Stroke resulting in permanent symptoms.
    • BSLI Hospital Care Rider: Under this rider, the policyholder will receive daily cash in the event of hospitalisation. The policyholder will receive enhanced daily cash benefit in the event of him/her being admitted in the intensive care unit. Additionally, a lump sum will be paid out towards recuperation expenses and costs. This rider can be opted for at the policy of policy inception only.
    • BSLI Surgical Care Rider: Policyholders who opt for this rider will receive a lump sum benefit on undergoing a major surgery (involving the brain, heart, lung or liver) or other surgery. This rider can be opted for at the time of policy inception only.
    • BSLI Waiver of Premium Rider: Under this rider, the policyholder’s premiums will be waived if he/she is unable to pay the premiums due to a disability, critical illness or the policyholder’s untimely demise during the policy term. The pending premiums would be paid by the company and the nominees would receive all benefits associated with the policy.


    The BSLI Secure Plus Plan offers policyholders and their dependents guaranteed coverage and benefits in the event of the policyholder’s death/ accidental death. There are some exceptions under the policy, in which case the company is not liable to pay benefits. The exclusions under the policy are listed below:

    • Suicide: In the event of the policyholder committing suicide within 12 months of the date of policy inception, the death benefit will not be paid. The company will instead pay the premiums paid till the date of death to the nominee/nominees.
    • Accidental death benefit will not be paid in case of death caused either directly or indirectly due to the following:
      • Death due to a disease or infection of any kind other than one that is a direct result of an accident.
      • Attempted suicide or self-inflicted injury, whether the individual is medically sane or insane.
      • Ingesting any intoxicating substance such as liquor, drugs, narcotics, sedatives or poison.
      • Engaging or participating in a hazardous activity such as diving, hunting, bungee jumping, parachuting, mountaineering, participating in any sort of race; martial arts.
      • Nuclear contamination, exposure to radioactive material or property contaminated by nuclear fuel materials or an accident caused by such materials or substances.
      • War (declared or undeclared), terrorism, civil war, acts of foreign aggression, mutiny, martial law, riots, strikes, insurrections or rebellion.
      • Service in the armed forces during war or during active duty.
      • Being in an aerial device or means of transport except as a passenger of a commercial airline with an established route.
      • Participation in any criminal activity or unlawful act with a criminal intent.

    Other Key Features- Freelook Period, Surrender Value, Grace Period etc.

    The features and benefits provided by the BSLI Secure Plus Plan are as follows:

    Free look period If the policyholder is dissatisfied with any of the policy’s provisions, he/she can choose to return the policy along with the reason behind the return during the free look period without facing any penalty or charge. The free look period is 15 days from the date of receipt of the policy document or 30 days for distance marketing policies.
    Grace period If a policyholder is unable to pay a scheduled premium during the policy term, a grace period of 30 days is provided during which the amount can be paid without penalties.
    Nomination The policyholder can nominate an individual to take over the policy in the event of his/her death, resulting in the benefits being transferred to the nominee/nominees.
    Lapse of policy If the policyholder does not pay the premiums within the grace period for policies that have acquired surrender value, the policy will lapse.
    Policy revival A policy can be revived within two years from the date of the last unpaid premium by meeting the following conditions:
    • Paying all unpaid premiums with interest.
    • Providing sufficient proof of insurability.
    Surrender value If premiums for over 3 years have been paid, the policy acquires surrender value. A Guaranteed Surrender Value is payable if the policyholder chooses to surrender the premium before the policy term.
    Loan against policy The policyholder can take out a loan against the policy provided the policy has acquired surrender value. The loan cannot exceed 85% of the surrender value and has to be a minimum of Rs.5,000.
    Reduced paid-up If the policy acquires surrender value, benefits and payouts would continue. In such as case, the following would be applicable:
    • On death, a reduced death benefit would be paid out to nominees.
    • On maturity, a reduced sum assured on maturity would be paid out.
    • On accidental death, a reduced accidental death benefit would be paid out.
    • In case of a rider, the rider benefit would stop.
    Termination of policy The policy would terminate in the following circumstances:
    • On payment of death benefit.
    • On payment of the last instalment of the income benefit.
    • On non-payment of premiums (in case of policies that have not acquired surrender value).
    • Failure to revive a policy during the revival period (for policies that have acquired surrender value).
    • Evidence of fraud or misrepresentation.

    Tax Benefits- How You Can Save With the BSLI Secure Plus Plan

    The BSLI Secure Plus Plan offers policyholders tax benefits in addition to the various benefits offered through the base policy, enabling them to receive life coverage as well as save on tax. The tax benefits offered to policyholders are as listed below:

    • The policyholder can avail tax benefits on insurance premiums paid under Section 80C of the Income Tax Act of 1961.
    • Under Section 10(10D) of the Income Tax Act of 1961, all benefits received from a life insurance policy such as maturity benefit, death benefit, survival benefit etc. are eligible for tax deductions.

    It is to be noted that tax exemptions are subject to change. It is advisable to consult with a tax advisor for information on current exemptions.

    Other Benefits- How You Can Save With BSLI Secure Plus Plan

    BSLI Secure Plus Plan policyholders stand to receive benefits ranging from a guaranteed income to accidental death cover during the policy term, providing them with financial assistance. In addition to the policy’s tax benefits and policy benefits, BSLI also offers policyholders a number of other benefits:

    Policyholders can avail of a hassle-free claims processing procedure with a quick turnaround time. Claimants can also seek assistance by logging onto the website, where they can track their claim status in real time.

    BSLI has also made it easier for policyholders and prospective customers to access policy information by making all policy related documentation available on their website. Policyholders can also log in to their account on the website and track claims, premium payments and other documents pertaining to their policy.

    Policyholders can also make premium payments from the comfort of their home by paying through credit or debit card, netbanking, NEFT or through standing orders. This is in addition to offline modes of payment such as cheque or cash.

    Why you should buy the BSLI Secure Plus Plan from Birla Sun Life?

    Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., one of the world’s leading insurance companies based in Canada. Set up in 2000, the company offers life insurance solutions to both individuals as well as groups, catering to a diverse customer base, offering savings, retirement as well as ULIP and group insurance products. The company provides a range of options and has consistently ranked among the top 3 insurance providers in the country. With over 550 branches across the country and over 1 lakh advisors, the company aims to make insurance more accessible.

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