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  • BSLI Grameen Jeevan Raksha Plan

    Birla Sun Life Insurance


    Rural and urban – these are two divisions of our world based on the infrastructure facilities available. There is a huge discrimination when it comes to these two settings, with rural areas generally lagging behind urban settings on multiple fronts. There have been many instances where people and organizations have tried to bridge the gap between these two shores, with Birla Sun Life Insurance doing its bit through its Grameen Jeevan Raksha Plan. This traditional micro-insurance term plan is designed to offer protection to the rural population and socially weaker sections of India, making it a unique offering in this space.

    Eligibility Criteria of BSLI Grameen Jeevan Raksha Plan

    Entry Age

    Minimum – 18 years

    Maximum – 50 years

    Single Premium

    Minimum – Rs 250

    Maximum – Rs 2,500

    Sum Assured

    20 times the premium

    Key Features of BSLI Grameen Jeevan Raksha Plan


    Traditional non-linked, non-participating plan for rural sector


    Death Benefit – In the event of death of life insured during policy term, the nominee receives the Sum assured.

    Maturity Benefit – there is no maturity benefit under this plan.



    Premium paying term (PPT)


    Policy term

    5 years

    Premium paying modes

    Only one premium to be paid


    No loan facility available under this plan

    Free Look Period

    A 15 day Free Look period is provided wherein a policyholder can return the policy if he/she does not agree with any terms and conditions of this plan. This period is 30 days for policies purchased through distance marketing.


    Policyholders can opt to surrender the policy anytime between the 2nd and 4th policy year. The amount received on surrender is shown in the table below.

    Year of surrender

    % of single premium







    Advantages of BSLI Grameen Jeevan Raksha Plan

    Tax Benefits

    Policyholders get tax benefits for premiums under Section 80C of IT Act and death benefits are tax free under Section 10 (10D) of IT Act.

    Surrender/Free look period

    Policyholders can choose to surrender or return their policies if they are unhappy with its performance.

    How The Plan Works

    Birla Sun Life Insurance Grameen Jeevan Raksha Plan is an extremely simple plan designed to offer insurance solutions to the rural and backward population of the country. Individuals who wish to opt for this plan are required to pay a single premium which offers them protection for 5 years. In the eventuality of their unfortunate demise during this period, their nominee will receive the sum assured and the policy will cease to exist. This plan does not offer a maturity benefit. Policyholders can also choose to surrender the policy after the 2nd year and before the 5th year, where they will be paid a certain percentage of the premium as the surrender value.

    For example, Mr. Pai opts residing in a tiny hamlet in Maharashtra decides to purchase this policy. He chooses a premium worth Rs 2,000 which he pays immediately. His son is the nominee in this policy. Mr. Pai, unfortunately passes away 4 years later, while the policy is still in place. Under these circumstances his son will receive Rs 40,000 as Sum Assured (20 times the premium).

    If Mr. Pai survived the policy term, he would not receive any maturity benefit under this plan.

    Premium Payments

    Policyholders are required to pay a single premium to avail benefits under this plan.


    There are no riders available with this plan.

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