Shriram Life Smart Protection Plan
We share memorable events with our family and our loved ones. We work hard to ensure that we provide prosperity to our family members. While we enjoy and cherish those moments we also need to ensure that we have secured our family towards unfortunate events of life. To meet such needs Shriram Life presents Protection Plan, a pure term plan available at an affordable premium. It provides life cover along with optional Accidental Cover or Critical Illness Cover
Annual premium as low as Rs 2,000 / year.
Long term cover of up to 30 years
Option to avail enhanced protection
Silver Option: Life Cover
Gold Option: Life Cover within built Accidental Death cover
Diamond Option: Life Cover within built Critical Illness cover.
There is no maturity benefit under this plan
In case of death of the life assured within the policy term, provided the policy is in force,
- Silver Option: “Death Sum Assured” is paid to the nominee and the policy terminates.
- Gold Option: “Death Sum Assured” is paid to the nominee and the policy terminates.
- Diamond Option:
- If death occurs first:“Death Sum Assured” is paid to the nominee and the policy terminates.
- If Critical Illness occurs first: On first diagnosis of any of the covered critical illnesses, a critical illness benefit of 25% of Sum Assured is paid and the policy continues for life cover only till the end of the policy term. On death of the life assured during the rest of the policy term “Death Sum assured” less the critical illness benefit already paid will be paid and the policy terminates
The future premiums after the incidence of the covered critical illness shall be waived.
“Death Sum Assured” is Absolute amount assured to be paid on death
Where Absolute amount assured to be paid on death’ is equal to the sum assured chosen by the policyholder at inception of the policy.
PREMIUM AND CORRESPONDING POLICY PAYMENT TERM (Yrs)
Same as policy term.
PREMIUM PAYMENT MODE
Click this link to calculate you premium.
RIDERS (ADD ON’S)
Accident Benefit Rider
Provides assistance to Life Assured, in the event of permanent/ total disability due to an accident.
Extra Insurance Cover
Provides additional life cover against the payment of extra premium.
Critical Illness Cover
Provides a benefit to help cover medical and rehabilitation costs associated with Critical ailments.
Family Income Benefit
Provides additional protection to the family for a nominal premium.
For more details on the risk factors , terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult our advisor.
Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.
Read the policy document here