• BSLI Easy Protect Plan

    With a higher sum assured, this plan provides protection to your family's future and makes sure that they live without any financial worries. You can choose your sum assured and plan option. You can also choose your premium paying term and your policy term. This plan offers you death benefit as an annual income and gives you rewards for a healthy lifestyle. You can also enhance the plan with suitable riders. You can opt to enhance your sum assured by 5% p.a. or 10% p.a. in the beginning depending upon your financial needs. On your policy's anniversary, your sum assured will be increased by 5% or 10% of the principal sum assured without any changes in your premium.

    Eligibility- Who is the Birla Sun Life Insurance Protect@Ease Plan for?

    The Birla Sun Life Insurance Protect@Ease is an amazing insurance plan for people who want to give their loved ones a secured future.This plans gives a higher sum assured and it ensures that you and family enjoy a financially secured life. It provides you complete financial security at a low cost. You will need to meet the following eligibility criteria in order to apply for this plan:

    Minimum entry age 18 years
    Maximum entry age 65 years
    Maximum maturity age 80 years of age
    Premium payment term Regular payment
    Type of plan Protection insurance plan

    Sum Assured and Premium Range: What you get and what it costs?

    The table below shows the sum assured, premium range, and premium payment mode for the Birla Sun Life Insurance Protect@Ease Plan:

    Minimum sum assured Rs.30,00,000
    Maximum sum assured No limit
    Minimum premium Depends on the chosen sum assured
    Maximum premium Depends on the chosen sum assured
    Premium payment mode Annually and monthly
    Policy period 5 to 30 years (subjected to a max maturity age of 80 years)

    *Premiums vary based on age, location, plan term and other factors.

    Plan coverage-What the Birla Sun Life Insurance Protect@Ease covers?

    The Birla Sun Life Insurance Protect@Ease is an affordable plan that gives you the option to choose between two plan alternatives according to your financial needs. You can enhance your coverage at different milestones in your life. This plan comes with death, total permanent disability and tax benefits. The following are the benefits provided by Birla Sun Life Insurance Protect@Ease:

    Benefit Options Benefit Features
    Death Benefit In case of death of the policyholder, the limited pay will be the highest of:
    • The sum assured will be 10 times the annual premium that you pay, or,
    • The sum assured will be 105% of all the premiums that have been paid till the date of death, or,
    • The nominee can opt to avail the sum assured as a lump sum payment or they can get it as staggered payment.
    Tax Benefits You get tax benefits on the premium under Section 80C and on the returns under Section 10(10D) of the Income Tax Act of 1961.

    Riders/ Ad-On Plans-Additional coverage under the Birla Sun Life Insurance Protect@Ease Plan:

    When you opt for the Birla Sun Life Protect@Ease, you can get advanced features by choosing additional riders that are offered by Birla Sun Life Insurance. Let us take a look at the riders that are given with this plan:

    Rider Benefits
    BSLI Accidental Death and Disability Rider In case of accidental death, the rider sum assured is paid. In case of accidental disability, a certain percentage of the rider sum assured is paid depending on the nature of disability.
    BSLI Critical Illness Rider 100% of the rider sum assured is paid on survival of 30 days after the date of diagnosis.
    BSLI Surgical Care Rider You can select a benefit amount between Rs.3,000 and Rs.30,000. The rider sum assured would be 50 times more than the benefit amount.
    BSLI Hospital Care Rider You get a minimum daily cash benefit amount of Rs.600 and a maximum daily cash benefit of Rs.6,000. For each day of stay in the ICU, an additional 100% of the selected daily cash benefit is given.
    BSLI Waiver of Premium Rider In case of the life insured getting totally disabled because of an accident or an illness or if they have been diagnosed with any critical illness or in case of their death, all the upcoming premiums will be waived for the rest of the policy term. This will be maintained till the termination of the policy or till the proposer turns 70 years, whichever happens earlier.
    BSLI Accidental Death Benefit Rider In case of death of the policyholder in an accident, 100% of the rider sum assured will be paid within 180 days of the accident to the nominee. Also, they will be provided with the refund of all the premiums paid after the date of accident till the date of the demise with an interest.

    Exclusions-What Birla Sun Life Insurance Protect@Ease doesn't cover

    Every insurance plan has a few exclusions. The insurance plan will not provide coverage for such cases. The Birla Sun Life Protect@Ease Plan has some general exclusions.

    If the life insured passes away by suicide within 1 year of after the policy issue date or the date of reinstatement, BSLI will refund the premiums paid till the date.

    No benefits will be given on total permanent disability if it is caused by a suicide attempt, HIV or AIDS, war, terrorism, act of foreign enemy, invasion, civil war, revolution, riot, or hostilities, among other situations.

    Other key features of Birla Sun Life Protect@Ease Plan

    The following are some of the other significant characteristics of Birla Sun Life Protect@Ease plan:

    • Special rates for non-tobacco consumers and female lives: This plan offered by Birla Sun Life Insurance gives special preferential rates for people who do not consume tobacco and for female lives.
    • Reinstatement and Grace Period: Under this plan, the policyholder will be given a grace period of 30 days since the premium payment due date for annual, quarterly, and half-yearly payment modes. For the monthly mode, you will get a grace period of 15 days. You can also restore the policy for its total coverage within 2 years from the date of first unpaid premium.

    Surrender: You can surrender your Birla Sun Life Insurance Protect@Ease plan before the policy period lapses. If you have been paying a regular premium, surrender value cannot be applied. If you have been paying a limited premium, you will receive a guaranteed surrender value (GSV) if you have paid a premium for 3 continuous years.

    Free look period: This plan comes with a free look period for 15 days since when the policy has been purchased. During this period, you will be allowed to return your policy by giving your reasons.

    Tax Benefits

    You will get tax benefits on the premium under Section 80C and on the returns under Section 10(10D) of the Income Tax Act of 1961.

    Other Benefits:

    The following are some of the other benefits that you receive for opting for Birla Sun Life Insurance Protect@Ease Plan:

    • You can request for a Life Advisor very conveniently by visiting the official website of Birla Sun Life Insurance. You will only have to provide your name, mobile number, and the name of the city you live in. A reliable life advisor from Birla Sun Life Insurance will contact you immediately to provide you with assistance.
    • All Birla Sun Life Insurance plans come with user-friendly online premium calculators. You only have to choose your product category and your product. You will then have to fill in all the relevant details in the form and then you will get to calculate the premiums that you need to pay.
    • You can pay your premiums through numerous convenient modes. You can choose any of them and complete your premium payment in no time. Some of the payment modes include NEFT, direct debit, ECS, payment through debit card and credit card, and many other methods.
    • Whenever you take a policy from Birla Sun Life Insurance, you can enroll for the SMS alert facility. With this facility, you will receive instant updates about your policy. You will get exact and accurate data about everything regarding your insurance plan.

    Why you should buy the Protector@Ease from Birla Sun Life Insurance?

    You should take a Birla Sun Life Insurance Protect@Ease Plan if someone is dependent on your income. This is the main purpose of taking a protection plan from Birla Sun Life Insurance. This is because a term plan will make certain that your beloved family members including parents, spouse, siblings, and children are financially safe even in your absence. Protection plans help you secure money for your as well as your family’s future.

    The other reasons for having a protection plan are to have a reliable source of income after retirement, benefit from having a second income in the case of critical illness or accident, and to provide for your children’s education, wedding, and lifestyle requirements. You receive death and total permanent disability benefits through these plans. Choosing a good plan at a young age will help you to build a healthy fund for your family. You can choose a suitable protection plan from Birla Sun Life Insurance to make sure that you are not under-insured. You can do this by analyzing your overall expenditures as well as liabilities and the amount of money you aim to save every month.

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    BSLI Easy Protect Plan Reviews