The Best Term Insurance Policy is an insurance policy which will provide best cover for a particular period of time or specified period as mentioned. BSLI provides both. The sum assured or death benefit will be given to the nominee if the person dies when the policy is active. It should be very inexpensive and premium offered by BSLI is one of the best. It, for others, is available for such durations like 10, 20, or 30 years while BSLI offers term policy of 10, 15 or 20 years. It has min. sum assured of Rs.200k and premium can be paid quarterly, half or on yearly basis. The money invested is covered under different section of Income Tax act. For Tax Savings.