Shriram Life Pension Plus
In this policy, the investment risk in the investment portfolio is borne by the policyholder.
The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.
Shriram Life Pension Plus (UIN: 128L065V03) helps you to meet your retirement goals by building a large corpus on vesting for investment to enable the policyholder to have a steady regular income for life by purchasing an immediate annuity plus. The plan offers four types of funds to choose for investing premiums under this plan.
We all want to retire in a position where we are assured of financial security and peace of mind. This is very much possible if we plan ahead for retirement by 20-30 years into our working life. One of the ways to plan for retirement is with a unit-linked pension plan.
Unit-linked retirement plan or Pension ULIPs are market-linked pension products offered by life insurance companies. They are suitable for individuals looking for a long-term retirement plan that doubles up as an investment.
Shriram Life Insurance offers Shriram Life Pension plus V03 plan. In this policy, you can enjoy the opportunity to get potentially better returns and grow your money by investing in a mix of equity and debt. This combination helps you beat inflation while protecting your investments.
No maximum limit on top up premium
Multiple funds and investment strategies to choose from
Unlimited Switching & Premium Redirection free of cost
Choice of Policy Term – 10, 15 to 35 years
On survival of the policyholder up to the end of the policy term,
- Total Fund Value
- Assured vesting benefit will be paid.
Where Assured vesting benefit is defined as 101% of total premiums paid.
On date of Vesting, the policyholder can utilise the proceeds to buy a suitable retirement solution for himself. To know more about the options available, refer to Product Brochure.
In case of death of policyholder during the policy term, higher of:
- Total Fund Value
- Assured death benefit
will be paid to nominee and policy will be terminated.
Total fund value is defined as the sum of base premium fund value plus top-up fund value.
Base premium fund value is the value of the fund built from the base premiums.
Top-up premium fund value is the value of the fund built from the top-up premiums.
Assured death benefit is defined as 105% of the total premiums paid.
Total premiums paid are the total of base premiums paid and the top-up premiums paid.
PREMIUM PAYMENT TERM (Years)
15 to 19
20 to 35
Regular – same as policy term
Single – Single
₹ 1 Lakh / ₹ 48,000* / ₹ 25,000*
Single / Limited / Regular
*Limited & Regular Premiums are yearly as stated and ₹ 4000 monthly for both
No limit, subject to Board approved underwriting policy
PREMIUM PAYMENT MODE
- Monthly (NACH mode only)
10, 15 to 35 years
RIDERS (Add Ons)
No riders available.
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.
Unit Linked life insurance products are different from traditional insurance products and are subject to the market risk factors.
The premium paid in Unit Linked insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his / her decisions.
Shriram Life is only the name of the Life insurance company and Shriram Life Pension Plus is only the name of the unit linked insurance contract and does not in any way indicate the quality of the plan, its future prospects or returns.
Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document issued by the insurance company.
The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects or returns.
The past performance of the fund options is not indicative of future performance of these funds.
# Provided all the premiums are paid and the policy is in force.
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
IRDAI Regn No. 128
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/Dec 2020/47