Shriram Life Growth Plus V2

Shriram Life Growth Plus V2 (UIN: 128L066V02) is a savings oriented unit linked insurance plan which offers both life cover and savings through market linked returns. The plan offers multiple choices in respect of premium payment, fund classes and flexibility of investment. The policy can also be taken on other lives, where other lives can be spouse, child and grandchild.

We always strive for special things that offer the best value for money. Fulfilling our family’s dreams & desires with the growth potential of equity or debt along with a life cover to safeguard future in our absence.

Shriram Life Insurance offers Shriram Life Growth plus V02 plan. In this policy, investment risk in investment portfolio is borne by the policyholder. Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policy holder will not be able to withdraw/surrender the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception. The plan has two options:

  • Option I: Life Cover.
  • Option II: Life Cover with in-built Accidental Death Benefit.

KEY FEATURES

  • Guaranteed Loyalty Additions

  • Additional life cover with Riders

  • Nil fund switching & redirection charges

  • High premium policies are eligible for higher loyalty additions

  • Profit generating fund options

KEY BENEFITS

Maturity Benefits

On survival of the Life Assured up to the end of the policy term, the fund value will be payable where fund value is total of base premium fund value and Top up premium fund value, if any.

Death Benefits

In case of death of Life Assured during the policy term

Option 1
Sum Assured Plus top-up sum assured (if any), plus fund value where fund value is total of base premium fund value and top up premium fund value, will be paid to the nominee or beneficiary and the policy will be terminated.

Option 2
Higher of:

  • Sum Assured (less partial withdrawals#)
  • Base premium fund value

Plus
Higher of:

  • Top-up Sum Assured
  • Top-up premium fund value

ELIGIBILITY

ENTRY AGE

Minimum

30 Days

Maximum

55 Yrs

(As on last birthday)

Maturity Age

Minimum

18 Yrs

Maximum

65 Yrs

(As on last birthday)

SUM ASSURED

Minimum

Rs. 1 Lakh

Maximum

Rs. 10 Lakhs

SINGLE PREMIUM

Minimum

Rs. 44,000

Maximum

No Limit*

*Subject to Board approved underwriting policy. Premium will be in multiples of thousand.

Minimum Regular Premium

Annual

Rs. 3,500

Half Yearly

Rs. 1,750

Quarterly

Rs. 900

Monthly

Rs. 300

Maximum – No Limit

PREMIUM PAYMENT TERM

Single / Regular

POLICY TERM

10 Yrs

to

20 Yrs

Premium Payment Mode

  • Yearly
  • Half Yearly
  • Quarterly
  • Monthly

RIDERS (Add Ons)

No riders available.

MORE

  • Accurate personal and health details in the proposal form.

  • Read the policy document carefully as and when you receive the document.

  • Pay all your due premiums on time.

  • In case of any query/service request please contact Customer Care or the nearest branch.

Disclaimer

  • For more details on the risk factors and the terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult our advisor before concluding the sale.

  • Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.