Shriram Life Assured Income Plan

Shriram Life Assured Income Plan (UIN: 128N053V01) a guaranteed income plan, is a solution to take care of all your potential cash flow requirements, thus ensuring the desired quality of life for you and your family.

KEY FEATURES

  • Life cover for the full policy term.

  • Get assured regular income after the policy term.

  • Fixed policy term: 8 years or 10 years.

  • Additional protection through riders.

  • Longer the term higher the income.

  • More the premium more the returns.

  • Choice of multiple payment options.

  • Tax benefits for premiums paid and benefits received.

KEY BENEFITS

Maturity Benefits

In case of survival of the life assured up to the end of the policy term and receipt of all the due premiums, the assured income payouts will be paid as scheduled at the start of each policy year after the end of the policy term during benefit payout period. However, the life assured will also have an option to take the assured benefit payouts in lump sum. The lump sum benefit will be the maturity sum assured. If the life assured dies after commencement of the assured income, the outstanding assured income payouts will continue as scheduled to the nominee or beneficiary.

Death Benefits

In case of death of the life assured during the policy term, provided all the due premiums till the date of death have been paid, death sum assured will be paid. The death benefit will be paid to the nominee or beneficiary in any of the following option exercised:

  • Lump sum
  • Regular payouts
  • 50% death benefit as lump sum and remaining 50% as regular payouts

Eligibility

ENTRY AGE

Minimum

30 Days

Maximum

50 Yrs

(As on last birthday)

MATURITY AGE

Maximum

58 / 60 Yrs

(As on last birthday)

SUM ASSURED

Minimum

Rs. 1.2 / 1.5 Lakhs

Maximum

Rs. 40 / 50 Lakhs

POLICY TERM (Yrs)

8 / 10 Yrs

PREMIUM PAYMENT TERM (Yrs)

8 / 10 Yrs

PREMIUM PAYMENT MODE

  • Yearly
  • Half-yearly
  • Monthly
  • Quarterly

Annual Premium

Minimum

Rs. 15,000

Maximum

Rs. 5 Lakhs

RIDERS (Add Ons)

Accident Benefit Rider

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

Extra Insurance Cover

Provides additional life cover against the payment of extra premium.

Critical Illness Cover

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

Family Income Benefit

Provides additional protection to the family for a nominal premium.

More

MORE

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