Shriram Life Family Protection Plan

Shriram Life Family Protection Plan (UIN: 128N061V01) is a non-linked non-participating term insurance plan. This plan caters to the needs of people who want to protect their families in case of untimely death.

KEY FEATURES

  • Premium rebates for high sum assured.

  • Life insurance cover at affordable premium rates.

KEY BENEFITS

Maturity Benefits

In case of survival of the Life Assured up to a specified period or till the end of the policy term no benefits are payable.

Death Benefits#

If the Life Assured dies during the policy term, provided the policy is in force, “Death Sum Assured” as mentioned in the policy will be paid to the nominee or beneficiary as per the option chosen by the policy holder.

Lump sum option:

In case of death of the life assured during the policy term, provided the policy is in force, “Death sum assured” will be paid to nominee(s) or beneficiary(ies) if the policyholder opts for lump sum benefit option and the policy will be terminated.

Installment option:

In case of death of the life assured during the policy term, provided the policy is in force, 50% of death sum assured will be paid immediately in lump sum to nominee(s) or beneficiary(ies) and the remaining 50% of death sum assured will be paid in 5 equal annual installments starting after one year from the date of death of the policy holder. The policy will be terminated after payment of last annual installment.

Death sum assured — is defined as the amount which is the highest of:

  • 10 times the annualized premium&.
  • Basic Sum assured
  • 105% of All premiums paid till the date of death

Eligibility

ENTRY AGE

Minimum

18 Yrs

Maximum

60 Yrs

(As on last birthday)

MATURITY AGE

Maximum

75 Yrs

(As on last birthday)

SUM ASSURED

Minimum

₹ 15 Lakhs

Maximum*

₹ 5 Crores

* Subject to Board approved underwriting policy.

POLICY TERM

10 – 25 Yrs

PREMIUM PAYMENT TERM

10 – 25 Yrs

PREMIUM PAYMENT MODE

  • Yearly
  • Monthly(NACH Mode only)

MINIMUM INSTALLMENT PREMIUM

₹ 4,000/- for yearly and ₹ 500 for monthly mode

Calculator

Click this link to calculate you premium.

RIDERS (Add Ons)

No riders available.

MORE

Disclaimer :

# Provided all the premiums are paid and the policy is in force.

& Annualised premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums, rider premiums, loadings for modal premiums, taxes and other statutory levies, if any.

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

IRDAI Regn No. 128
CIN: U66010TG2005PLC045616

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.

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

ARN – SLIC/Content/Jan 2021/59

Read the policy document here

Read the E-brochure here

Read the Product brochure here