BSLI Protector Plus Plan

Aimed at securing the financial needs of your family at affordable costs, the BSLI Easy Protect Plan is a non-participating traditional term insurance policy. The plan offers flexibility to you in terms of availability of two coverage options, namely, constant and increasing term insurance cover.

Eligibility Criteria of BSLI Easy Protect Plan

Age at Entry: The minimum age is 18 years and the maximum is 55 years

Features of BSLI Easy Protect Plan

  • Policy Term: Minimum - 5 years; maximum - 30 years
  • Premium Payment Terms: The premium payment terms for this plan can be a single premium payment or regular payment for the entire policy period
  • Premium Payment Frequency: Premiums can be paid in annual and monthly modes (ECS)
  • Sum Assured: Minimum - Rs.50,00,000; maximum - no limit
  • Policy Option: Cover option I - level term assurance; cover option II - increasing term assurance (sum assured increases by 5% or 10% sans any premium increase)

Benefits of BSLI Easy Protect Plan

  • Death Benefit: In the event of the unfortunate death of the life insured (within the policy term), the nominee is paid the sum assured as on date of death. Under level term assurance option, the sum assured does not change throughout the policy term. For increasing term assurance option, the sum assured increases by a predetermined percentage chosen by you. It is important to note that the premium amount, however, remains unchanged. The plan will stand terminated after payment of the death benefit.
  • Maturity Benefits: There are no maturity benefits offered under this plan
  • Premium Payment: Women, non-smokers and preferred non-smokers get automatic benefit of premium reduction
  • Surrender Benefit: For the regular pay option, there is no surrender benefit offered under the plan. However, for the single pay option, the plan acquires a surrender benefit after policy issuance
  • Tax Benefits: You can avail of income tax benefits according to Income Tax Act, 1961. Education Cess and Service Tax are added to premium and levied according to prevailing laws


Subhash Varma, a 30-year-old, employee opts for the BSLI Easy Protect Plan with increasing term assurance option with 10% increase. Varma chooses a sum assured of Rs.50 lakhs. The increase in the sum assured is shown in the table below:

Age Policy year Sum Assured (in lakhs)
30 0 50
31 1 55
32 2 60
33 3 65
34 4 70
35 5 75

In case of his unfortunate death, Varma’s nominee will receive the Rs.75 lakhs as on the date of death.

Frequently Asked Questions

  1. What are the exclusions to the policy?

    If the life insured dies from suicide (sane or insane) under one year of either issuance or date of reinstatement, all premiums will be refunded.

  2. What happens if premiums are not paid on time or discontinued?

    A grace period of 30 days will be given to a customer for payment of due premiums. However, if instalments premium payments are not made within the grace period, all benefits will cease as the policy will lapse.

  3. Can the policy be revived?

    Yes. To reinstate the BSLI Easy Protect Plan, unpaid premiums plus interest ((x+2%)/12; x= base rate) has to be paid in addition to various documents which have to be submitted.

  4. What is the minimum sum assured under the BSLI Easy Protect Plan?

    The minimum sum assured under the plan is Rs.50 lakhs

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GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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