Shriram Life Growth Plus

Shriram Life Growth Plus (UIN: 128L066V01) 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.

KEY FEATURES

  • Two death benefit options.

  • Loyalty additions.

KEY BENEFITS

Maturity Benefits

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.

Base premium fund value is fund value built up from base premiums chosen by the policyholder at the time of inception top-up premium fund value is fund value built up from top-up premiums’ fund value is the sum of base premium fund value and top-up premium fund value.

Death Benefits

In case of death of Life Assured during the policy term, the policy has two benefit options:

Option 1
Sum Assured, Top-up Sum Assured (if any) and fund value will be paid to the nominee or beneficiary and the policy will be terminated.
Option 2
Higher of:

  • Basic Sum Assured
  • Base Premium fund value
  • Top-up sum Assured
  • Top-up Premium fund value

The minimum death benefit shall be at least 105% of the total premiums paid in each of the above cases.

ELIGIBILITY

ENTRY AGE

Minimum

30 Days

Maximum

60 Yrs

(As on last birthday)

Maturity AGE

Maximum

70 Yrs

(As on last birthday)

SUM ASSURED

Minimum

Rs. 55,000 /
Rs. 2.1 / 4.2 Lakhs

Single / Regular / Limited

Maximum

Subject to underwritten policy.

PREMIUM

Minimum

Single

Rs. 50,000 for 10 yr term

Rs. 1 Lakh for 15 yr term and above

Limited

Rs.60,000 Yearly

Rs.6,000 Monthly

Regular

Rs. 30,000 Yearly

Rs. 3,500 Monthly

Maximum

* No limit, Subject to underwritten policy.

PREMIUM PAYMENT TERM

Single / Limited*/ Regular*

Single / 6 years / Same as policy term

*Payment frequency Yearly/Monthly (ECS mode only)

POLICY TERM (YRS)

10

15

20

Single

Regular

Limited

RIDERS (Add Ons)

Accident Benefit Rider

Provides assistance to Life Assured, in the event of permanent / total disability due to an accident.

Accidental Death and Disability Income

Provides additional protection to the family for a nominal premium.

Critical Illness Cover

Provides a benefit to help cover medical and rehabilitation costs associated with critical ailments.

More


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Disclaimer

  • Unit Linked Life Insurance Products are different from the traditional insurance products, as in the former, the investment risk in the investment portfolio is borne by the policyholder.

  • ‘Shriram Life Insurance Company Limited’ is only the name of the insurance company and ‘Shriram Life Growth Plus’ is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract or its future prospects of return.

  • Please know the associated risks and the applicable charges from your insurance agent or the intermediary or policy document of the insurer.

  • The various funds offered under this contract are the names of the funds and do not in any way reflect their quality, their future prospects and returns.

  • The premium paid in Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up and down based on the performance of the funds and the factors influencing the capital market and the insured is responsible for his/her decisions.

  • Past performance of funds is no indicator of future performance, which may be different.

  • 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

Read the brochure here