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Tax Benefits of Super Income Plan in Shriram Life Insurance

A Super Income Plan (SIP) has multiple tax benefits, making it an attractive investment option. For a nominal fee, the policy's coverage can be expanded. The premiums paid during the policy's term can be claimed in taxes. The Super Income Plan's maturity benefits are eligible for tax deductions for investors.

  • Posted on: 20 Feb 2023
  • 4 min read
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Maturity Benefit of Super Income Plan in Shriram Life

Any investor who completes the Super Income Plan's term is eligible for the maturity benefit. A Super Income Plan is simple to comprehend and offers several advantages. The maturity benefit of the SIP is five times the annualised premiums. A Super Income Plan's premium payment duration is customisable and can be tailored to the investor's needs.

  • Posted on: 24 Jan 2023
  • 5 min read
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What is the Death Benefit of a Super Income Plan?

A family will benefit from the Super Income Plan’s death benefit after the policyholder has passed away. The beneficiary or nominee will receive a guaranteed amount as the death benefit. A Super Income Plan is eligible for tax benefits under the legislation established by the Indian government. The Super Income and maturity benefits are other significant benefits of the Super Income Plan.

Did you know that most life insurance plans have a death benefit?

  • Posted on: 23 Jan 2023
  • 5 min read
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What are the Differences Between Super Income Plan and Assured Income Plan

Investors can purchase life insurance through the Super Income or Assured Income Plan. A Super Income Plan's surrender benefit can be claimed after all premiums have been paid. An investor has the option to get the maturity benefits with the Assured Income Plan after the premium payment has been completed. An investor can obtain financial security, stability and control by investing in a Shriram Life Super Income Plan.

  • Posted on: 20 Jan 2023
  • 4 min read
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6 things to know before getting a Super Income Plan

The Super Income Plan has assured returns once the premium payment period ends. An investor can obtain more significant benefits with a Shriram Life Super Income Plan for a higher premium amount. If the investor completes at least two years' worth of premium payments, they are eligible for a surrender bonus. There is a grace period for policy holders to pay a pending premium if they have not made the payment on time.

  • Posted on: 20 Jan 2023
  • 5 min read
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Is Shriram Life Super Income Plan Taxable?

The Super Income Plan's premium payments are eligible for tax deductions. After the policy has been completed, the maturity bonus will have tax advantages. SIP can be improved by adding more coverages. When the Super Income Plan matures, an investor can receive a payout of 5 times the yearly premium.

  • Posted on: 19 Jan 2023
  • 5 min read
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Which is the best monthly income plan?

The Super Income Plan (SIP) provides an investor with a assured benefit. A policy holder will receive maturity benefits when the SIP period has ended. The Super Income Plan contains a life insurance cover to protect you from unforeseen circumstances. The Super Income Plan's advantages can be increased by adding more covers for a nominal rate.

  • Posted on: 19 Jan 2023
  • 5 min read
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What is the Maturity Amount of the Super Income Plan?

If an investor with a Super Income Plan lives to the policy's maturity, they will get 5 times the annualised premium. The nominee or beneficiary will get the Death Benefit if the insurance holder passes away. For a nominal fee, additional coverages can be added to enhance the Super Income Plan.

  • Posted on: 18 Jan 2023
  • 5 min read
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What is the Premium Payment option in Super Income Plan?

A Super Income Plan (SIP) offers an adjustable term for paying the premiums that help investors plan their finances efficiently. Shriram Life Super Income Plan's premium payment requirement is a minimum of Rs. 30,000 annually. A person must be at least 25 years old to be eligible to invest in a SIP. The policyholder will receive maturity benefits when the policy term is over.

  • Posted on: 18 Jan 2023
  • 5 min read
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Disclaimer

For more details on risk factors, terms, and conditions please read the sales brochure carefully before concluding a sale.  

*Tax Benefits:  
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.  
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.

IRDAI Regn No: 128  
CIN No : U66010TG2005PLC045616 of the Company

The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRADULENT OFFERS

  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.