Mumbai: Birla Sun Life Insurance (BSLI) announced new rates on its term plan and term riders with benefits for existing customers also.

Birla Sun Life Insurance will now offer rates under more bands (of sum assured). Earlier the company offered two bands: Rs 2-7 lakh and Rs 7 lakh and above. Now BSLI will offer four bands: Rs 2-5 lakh, Rs 5-10 lakh, Rs 10-25 lakh and Rs 25 lakh & above.

1. For new customers:

Term plan with 20-year term for male age 30 years:
(Premium per Rs 1,000 face amount)

Sum assured band (Rs in lakh)	Old rate	New rate
Band 1 (2 - 4.99 )	4.41	4.41
Band 2* (5 - 6.99) (7 - 9.99)	4.41	3.21
	3.41	3.21
Band 3 (10 - 24.99)	3.41	2.71
Band 4 (25 & above)	3.41	2.41

*Band split up for comparison purposes

Impact of new rates in premium terms

Band (Rs in lakh)	Sample    sum assured	Old premium	New premium
Band 1 (2 - 4.99 )	3,00,000	1623	1623
Band 2* (5-6.99) (7-9.99)	5,00,000	2505	1905
	7,00,000	2687	2547
Band 3 (10-24.99)	10,00,000	3710	3010
Band 4 (25 & above)	25,00,000	8825	6325

2. For existing customers
Normally the benefit of new premiums only applies to new customers after the date of change in rates, but BSLI has decided to apply the new rates for all existing term plan and term rider customers as well. The existing customers will benefit in the form of higher sum assured (death benefits) with no requirement for additional medical evidence.

Term plan: Rs 25 lakh sum assured & 25-year term for male age 30 years:

Premium	Old Sum Assured	New Sum Assured
9350	25,00,000	35,35,000

Term Rider: Rs 10 lakh sum assured & 20-year term for male aged 40 years:

Premium	Old Sum Assured	New Sum Assured
6000	10,00,000	12,50,000