Shriram Life Assured Income Plus

Shriram Life Assured Income Plus (UIN: 128N060V02) 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

  • Guaranteed income in installments from maturity.

  • Payment of premiums for limited period only.

  • 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.

  • Tax benefits.

KEY BENEFITS

Maturity Benefits

On survival of the life assured up to the end of the policy term and provided all the premiums have been paid, 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, only the installments will be paid to the nominee(s) or beneficiary(ies). There is no lump sum option.

Eligibility

ENTRY AGE

Minimum

8 Yrs

Maximum

60 Yrs

(As on last birthday)

MATURITY AGE

Maximum

70 Yrs

(As on last birthday)

SUM ASSURED

Minimum

Rs. 1.5 / 3 Lakhs

Maximum*

Rs. 5 Crores

* Subject to underwritten policy.

Annual Premium

Minimum (Rs)

Rs. 20,000

Maximum (Rs)

Rs. 65.10 Lakhs

POLICY TERM (Yrs)

10 Yrs

PREMIUM PAYMENT TERM (Yrs)

5 Yrs

PREMIUM PAYMENT MODE

  • Yearly
  • Half-yearly
  • Quarterly
  • Monthly (ECS only)

Calculator

Click this link to calculate you premium.

RIDERS (Add Ons)

No riders available

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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