Documents required while applying for Shriram Life Super Income Plan

Just like the saying “A stitch in time saves nine,” a well-planned insurance can save an individual from a financial crunch during retirement. Spending a part of one’s salary on a retirement plan that gives a regular monthly income during the retirement term can be the most rewarding decision one makes during their early 20s.

A peaceful and stress-free retirement is a dream for several individuals.

Shriram Life Super Income Plan provides personalised retirement plans where an individual and their family can attain a lump sum at the maturity of the tenure along with a guaranteed fixed monthly income.

This article provides information on the documents required to apply for the Shriram Life Super Income Plan. The ideal plan that provides you with the financial freedom to enjoy a relaxing retirement.

What is Shriram Life Super Income Plan?

Shriram Life Super Income Plan is specifically designed to meet an individual's and their family's long-term financial needs. This plan provides you with protection and an assured benefit until the age of 75 and a lump sum maturity. The best part about Shriram Life SIP is that it can be personalised according to an individual’s needs and requirements.

Documents required while applying for Super Income Plan

Retirement is the golden time period when you have the perfect opportunity to relax and pursue your long-held dreams. Prepare yourself with a personalised SIP with the following documents.

Age Proof (Any one of the following documents)

• PAN
• Passport
• Driving license
• School/transfer/college certificate
• School id card (of current class – applicable up to 10th)
• Govt. Employer certificate/service register copy
• Defence ID card
• Birth certificate
• Baptism certificate
• Age recorded in LIC policy
• ID card issued under New Pension Scheme
• Aadhaar card with full DOB

Identity Proof (Any one of the following documents)

• Passport
• PAN Card
• Aadhaar card
• Driving License
• Authorised letter from a public authority or public servant.
• Bank passbook with the photo of the account holder
• Central and state government ID cards and ID Cards issued by renowned employers
• Voter’s Identity Card
• Bank Passbook with photo of the account holder.
• Computerized ration card with an individual photograph

Address Proof (Any one of the following documents)

• Aadhaar card
• Voter’s id
• Passport
• Driving license
• An employer’s certificate
• A valid lease agreement along with rent receipt, not more than three months old as a residence proof
• Bank passbook copy or bank statement
• Electricity bill that is not more than 3 months’ old
• Letter from any recognized public authority
• Ration card
• Gas bill which is not older than the last 3 months
• Telephone bill which is not older than 3 months

Other documents:

If the premium amount is above Rs. 50000, it is necessary to provide a Pan Card.

If the premium is above 1 lakh, it is necessary to provide any one of the following documents as Income Proof

• ITR
• Form 16
• Annual bank statement
• 3 months' pay slip

Features of Shriram Life Super Income Plan

• Shriram Life Super Income Plan is designed to meet an individual's and their family's long-term financial and insurance needs.
• The option to choose life coverage up to 75 years or receive guaranteed monthly income and receive the lump sum pay out at maturity.
• A wide range of premium payment terms are available, with the option to customise the term as per your needs.
• It helps increase your protection by adding riders like an accident rider, a critical illness rider, a family income rider, and an extra insurance cover rider.

Secure your future

In our ultra-stressful modern lifestyle, we barely have time to plan for the future and think about retirement. However, giving some thought and preparing for your retirement with the ideal insurance plan will help you make the most of your retirement. Just like how the right shoe can take you to greater places, investing in the personalised insurance plan from Shriram Life SIP can give you the financial security that helps you retire happily.

Key Highlights

• Receive a fixed monthly income during the term period, plus a lump sum amount at maturity.
• The guaranteed maturity sum secured is 5 times the annualised premium.
• It assists you in making plans for a stress-free retirement without worrying about money.
• Flexible payment options for a customised insurance plan.

FAQs

Is a PAN card mandatory for SIP?

If the premium exceeds Rs. 50000, a pan card must be presented as evidence of income.

What is the maturity amount of the Super Income Plan?

The maturity amount differs based on the premium payment. The maturity benefit is 5 times the Annualised Premium.

Is income proof required for Shriram Life SIP?

Yes, if the premium is more than Rs. 50000, a Pan Card must be presented. It is mandatory to produce any one of the following documents as income proof if the premium is more than one lakh.

• ITR
• Form 16
• Annual bank statement
• 3 months' pay slip

ARN:SLIC/Elec/Dec 2022/130