Shriram Life New Shri Life Plan

Shriram Life New Shri Life Plan (UIN: 128N047V02) is a non linked participating endowment plan. Besides being a systematic savings option, the plan acts as a reliable protection tool to your family in the event of a mishap. Shriram Life New Shri Life Plan is ideal because of the potential upside of reversionary bonuses which may be added to your life cover year after year and also the maturity benefit.

KEY FEATURES

  • Reversionary Bonuses to enhance your savings and life cover

  • Multiple Premium Payment Options

  • Attractive high sum assured rebates

  • Additional protection through Riders

KEY BENEFITS

Maturity Benefits

In case of survival of the life assured up to the end of the policy term, provided the policy is in force, the Basic Sum Assured plus accrued Reversionary Bonuses plus Terminal Bonus (if any) will be paid.

Death Benefits

In case of death of the life assured during the policy term, provided the policy is in force, Sum Assured on Death + Accrued Reversionary Bonus (if any) + Terminal Bonus (if any) will be paid to the nominee(s)/ beneficiary(ies).

Where Sum Assured on Death is higher of –

  • 10 times the Annualised premium
  • Basic Sum Assured

However, the death benefit will be at least 105% of All Premiums Paid till the date of death

Eligibility

ENTRY AGE

Minimum

30 Days

Maximum

60 Yrs

(Age last birthday)

MATURITY AGE

Minimum

18 Yrs

Maximum

75 Yrs

(Age last birthday)

SUM ASSURED

Minimum

50,000

Maximum

No Limit
subject to Board approved underwriting policy.

POLICY AND CORRESPONDING PREMIUM PAYMENT TERM (Years)

10

15

20

25

8, 10

8, 10, 15

8, 10, 20

8, 15, 25

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