Birla Sunlife Life Insurance Premium Back Term Plan
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Premium Back Term Plan offered by Birla Sunlife Life Insurance is a low cost pure risk cover plan suitable for individuals who wish to give their family members financial protection in case something unfortunate happens to you. Premium Back by Birla Sunlife is a unique Term Insurance Plan that offers you an guaranteed sum during the policy term. Unlike other term plans, this plan returns the entire amount of premium that you pay over a period of time.
Eligibility Criteria for Birla Sunlife Premium Back Term Plan:
- Entry Age – Minimum age limit is 18 years, Maximum limit is 50 years for 20 years term and 55 for 10 and 15 years term.
- Maturity Age – Maximum maturity age limit is 70 years.
- Sum Assured – Minimum Sum assured limit is Rs. 200000/-
- Premium Paying Term – 10, 15, 20 years.
- Premium Paying Frequency – Monthly, Half Yearly, Quarterly, Yearly.
Key Benefits of Birla Sunlife Premium Back Term Plan:
- Maturity Benefit – On maturity, the total premiums paid during the policy term, will be paid back to you.
- Death Benefit – In case of unfortunate death o the life assured during the policy term, lump-sum sum assured along with premiums paid is received by the nominee.
- Tax Benefit – Premiums paid by the policy holder in this plan is eligible for tax benefit under section 80C and 10(D) of Income Tax Act 1961.