Shriram Life Cash Back Term Plan

Shriram Life Cash Back Term Plan (UIN: 128N045V02) is an affordable, easy-to-obtain financial security net for you and your loved ones. It has a lump sum payout in case of unfortunate death helping your family reduce their debts thereby protecting their financial security. At the same time the premiums paid towards this policy will be returned on maturity.

KEY FEATURES

  • Insurance cover at affordable rates.

  • Return of premiums at maturity.

  • Additional protection through RIDERS.

KEY BENEFITS

Maturity Benefits

In case of survival of the Life Assured till the end of the policy term, all the premiums paid during the term of the policy excluding any extras, rider premiums and taxes will be returned.

Death Benefits

In case of death of the life assured during the policy term, provided all the due premiums have been paid, till the date of death “Death Sum Assured” will be paid

“Death Sum Assured” is defined as highest of

  • 10 times the Annualised Premium
  • 105% of All Premiums Paid till the date of death
  • Sum Assured

Where
Sum Assured is the amount chosen by the policyholder at the time of proposal.

Annualised Premium means the premium payable in a year chosen by the policyholder excluding the taxes underwriting extra premiums, rider premiums and loadings for modal premiums, if any.

All Premiums Paid is the total of all premiums paid till the date of death excluding any extra premiums, any rider premiums, and taxes.

Eligibility

ENTRY AGE

Minimum

12 Yrs

Maximum

50 Yrs

(Age last birthday)

MATURITY AGE

Maximum

70 Yrs

(Age last birthday)

SUM ASSURED

Minimum

2 Lakhs

Maximum*

20 Lakhs

Subject to Board approved underwriting policy

POLICY AND CORRESPONDING PREMIUM PAYMENT TERM (Yrs)

10

15

20

25

5, 10

5, 7, 10, 15

5, 7, 10, 15, 20

5, 7, 10, 15, 25

PREMIUM PAYMENT MODE

  • Yearly
  • Half-yearly
  • Monthly
  • Quarterly

MINIMUM ANNUALISED PREMIUM

₹ 3,000/-

Calculator

Click this link to calculate you premium.

RIDERS (Add Ons)

Additional protection through Riders

You can opt any of the following Riders by paying additional premium. The riders can be opted at the inception of the policy or subsequently on any policy anniversary.

Accident Benefit Rider (UIN 128B001V03)

In case of death or total and permanent disability due to accident during the rider term, we will pay 100% of the rider sum assured. Also, if the life assured becomes totally and permanently disabled in an accident, we will waive off all the future premiums under the policy.

Family Income Benefit Rider (UIN 128B002V03)

In the event of accidental death or if the life assured becomes totally and permanently disabled due to an accident within the rider term, 1% of rider sum assured is payable every month immediately from the end of month of accident for a guaranteed period of 10 years or till the end of the rider term whichever is higher.

Shriram Critical Illness Cover Rider (UIN 128B010V03)

If you are diagnosed to be suffering from any of the 6 specified Critical Illnesses, we will pay 100% of the rider Sum Assured on survival of 30 days following the date of first instance of confirmed diagnosis.

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Disclaimer

  • 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