Shriram Life Assured Income Plus

Shriram Life Assured Income Plus (UIN: 128N060V03) is a non-linked non-participating endowment assurance plan. This plan caters to the of customers who wish to invest only for a minimum fixed duration and reap annual benefits even after maturity. The plan offers life cover of minimum 10 times the annualized premium for age up to 50 years and 7 times the annualized premium for ages 51 years and above.

KEY FEATURES

  • Pay premium for only 5 years

  • Life cover for 10 years

  • Assured Income for 5 years from Maturity

  • Lower Premium for High Sum Assured

  • Additional protection through Riders

KEY BENEFITS

Maturity Benefits

On survival of the life assured up to the end of the policy term and provided the policy is in force, sum assured will be paid in five equal annual installments i.e. 20% of sum assured will be paid at the end of every year after maturity.

Death Benefits

In case of death of the life assured during the premium paying term, provided the policy is in force, “death sum assured” as defined in the brochure will be paid in lump sum to the nominee(s) / legal heir(s) of the Life assured and the policy will be terminated.

If the life assured dies any time after completion of policy term but before the commencement of installments, the installments will be paid to the nominee(s) or beneficiary(ies). There is no lump sum option.

Eligibility

ENTRY AGE

Minimum

8 Years

Maximum

65 Years

(Age last birthday)

MATURITY AGE

Maximum

75 Years

(Age last birthday)

SUM ASSURED

Minimum

₹ 1.5 Lakhs for ages upto 50 years

₹ 3 Lakhs for ages 51 years and above

Maximum*

No Limit, subject to Board approved writing policy

Annual Premium

Minimum (₹)

₹ 17,732

Maximum (₹)

No Limit, subject to Board approved writing policy

POLICY TERM

10 Years

PREMIUM PAYMENT TERM

5 Years

PREMIUM PAYMENT MODE

  • Yearly
  • Half-yearly
  • Quarterly
  • Monthly

Calculator

Click this link to calculate you premium.

RIDERS (Add Ons)

You can opt any of the following Riders by paying additional premium.

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. The benefit under this rider is applicable only once during the rider term.

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 Extra Insurance Cover Rider (UIN 128B009V03)

In case of unfortunate event of death of the life assured during the rider cover term, sum assured under rider will be paid to the nominee.

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