Skip to main content

Birla Sun Life New Term Plans - Birla Sun Life Protector and Birla Sun Life Protector Plus



In line with the trend of insurance companies, over the past few months, increasing their focus on traditional endowment and term insurance plans, Birla Sun Life Insurance added two pure protection covers – Birla Sun Life Protector and Birla Sun Life Protector Plus to its portfolio recently.


These are pure terms plans — that is, they offer no maturity benefit to the policyholder if s/he survives the term. However, term cover is deemed as a must-have for individuals, as it is the cheapest form of life insurance and serves its fundamental purpose – of providing for the insured's dependants financially in the event of his/her demise.


The characteristics of both the variants (Protector and Protector Plus) are largely similar. While Birla Sun Life Protector is for those looking for a cover of between . 5 lakh and . 49,99,999, Protector Plus offers cover beyond this limit. There is no upper limit on the sum assured under Protector Plus, but it would depend on the company's underwriting guidelines.


Both plans offer the option of increasing the sum assured every year. The riders attached to the products are similar as well — critical illness, accidental death and disability, hospital care, surgical care and waiver of premium. Insurance seekers can choose policy tenures of between five and 30 years.


The key difference between the two plans, apart from the amount of cover provided, is the discounts in premiums, which are linked to the insurance-seeker's health. While women have to pay lower premiums than men in both the plans, Protector Plus rewards nonsmokers for maintaining a healthy lifestyle.

Under Birla Sun Life Protector, a 35-year-old male will have to shell out an annual premium of . 4,920 for a . 20-lakh sum assured (level) for a 20-year tenure; a woman, on the other hand, will have to pay a premium of . 4,170 for the same cover, provided all the other parameters are the same. Likewise, under Protector Plus, the annual premium for a 35-year-old male (smoker) for a cover of . 1 crore will be . 21,150 (. 16,900 for men staying away from tobacco), while a woman will have to pay . 17,100 (. 13,850 for non- smokers).

UPSIDE:

Term plans offer the cheapest way of ensuring dependants are taken care of in the event of the death of the insured. Hence, they are recommended by all financial planners as a must-have.

DOWNSIDE:

Underwriting norms followed could be very stringent, which means that not everyone who can afford the premium can hope to buy the policies, specifically Protector Plus, since it leans heavily on the insurance-seekers' state of health.
 

-----------------------------------------------------------------

 

Also, know how to buy mutual funds online:

 

Invest in DSP BlackRock Mutual Funds Online

 

Invest in Reliance Mutual Funds Online

 

Invest in HDFC Mutual Funds Online

 

Invest in Sundaram Mutual Funds Online

 

Invest in Birla Sunlife Mutual Funds Online

 

Invest in UTI Mutual Funds Online

  

Invest in SBI Mutual Funds Online

 

Invest in Edelweiss Mutual Funds Online

 

Invest in IDFC Mutual Funds Online

 

 

Popular posts from this blog

Impact of Demonetization

Impact of Demonetization:   ·          Improvement in Government's fiscal position going forward:   Ø   Higher benefits for the Government if lesser currency notes comes back into the system Ø   Increase in Tax Reporting leading to better revenue hence better fiscal   ·          System Liquidity to increase going forward ·          Inflation expected to fall further ·          Growth to be positively impacted over medium to long term with near term hiccups   Duration Funds:   In light of the above facts and expectations investors may consider long duration funds ( Reliance Dynamic Bond Fund, Reliance Income Fund & Reliance Gilt Securities Fund ) as these funds would benefit on further easing of yields over next 12 to 18 months.   'Reliance Dynamic Bond Fund' aims at generating returns even in stable interest rate markets by exploring different trading strategies. The strategy to differentiate Tactical Positions f...
Read more

Tata Fixed Income Portfolio Fund dividend

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)       Tata Mutual Fund has announced dividend under the dividend option of Tata Fixed Income Portfolio Scheme B2 Plan A-DQ, Tata Fixed Income Portfolio Scheme B2 Reg-DQ and Tata Fixed Income Portfolio Scheme B2 Direct-DQ. The record date has been fixed as August 29, 2013. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Onlin...
Read more

Nomination in Investment

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Nomination in investment   As an investor, you spend most of your precious time in deciding on your investments, their tenure, and the returns that your invested money will fetch practically. Do you know who gets your investment money when you are "no more"? I am sure most of you must have come across the 'nominations' column, while filling any of your financial application form, be it that for a Mutual Fund, or a Demat Account, or simply a Bank Account. More often, people have a tendency to leave the nomination field blank, or fill the same uncertainly, without even understanding the big importance of this little detail. Here, let us try to put forth the significance of a nomination into our financial lives. What is nomination? A person to wh...
Read more

How to gauge the risk profile of your mutual fund portfolio?

MUTUAL funds are considered to be an investment option for those who do not generally devote a lot of time to monitoring and managing their portfolios. Investors experience both good as well as tough times as far as mutual fund investments are concerned. But while evaluating the portfolio of their equity mutual fund holdings there are a few points that one should check to know about the level of risk that they are facing. Often there are situations where there is a higher risk than what was estimated initially. Here are a few ways to evaluate various risk levels. Individual holding exposure : The portfolio of the equity fund where one has invested or plans to invest needs to be scrutinised to see whether the risk levels are such that could lead to a larger volatility in the holdings. Depending upon this factor and the risk taking ability of the investor the choice about a particular fund as an investment should be made. One key point to watch out is whether there is a large ex...
Read more

Stick to Good Fund Manager who Can Multiply Your Investment

A manager may be the difference between the best and worst funds. Here's how you can find the right one    Does a mutual fund manager make a difference to your investment? The answer may not be as easy as you think, since most best-performing mutual funds have moved away from individualistic fund management to process-driven methods, limiting the scope of an individual's role in investment decisions. In fact, many fund managers would speak at length about how the "system" their fund house has in place makes their task of picking stocks easy even though it restricts their freedom. Still, the question is important, especially after recent reports that the Securities and Exchange Board of India ( Sebi ) may ask fund managers to disclose to investors their track record of managing money. Let us take a look at the universe of large-cap funds over the past five years. According to Value Research, an independent mutual fund tracking firm, the topper in the category is DSP...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now