Shriram Life New Shri Vidya
Your child’s future is the most important concern for you. With the soaring educational expenses in today’s life, giving good education will be tough unless it is planned. We have Shriram New Shri Vidya (UIN: 128N051V02) plan designed for you to make your child’s aspirations come true. The plan offers survival benefits to adjust according to your child’s education requirements and also insurance cover in case of any unfortunate event happens to you.
Sum assured plus stream of monthly income on death to offset monetary losses
Reversionary Bonuses to enhance your savings and life cover
Additional protection through Riders
Attractive high sum assured rebates
Additional sum assured to suit your child’s educational requirements
In case of survival of the life assured up to the end of each of the last four years of the policy, provided all the due premiums have been paid, 25% of basic sum assured at the end of each of the last four years will be paid.
Accrued Reversionary Bonuses and Terminal Bonus (if any) will be paid at Maturity.
In case of death of the life assured during the policy term, provided all the due premiums have been paid, the following benefits are paid to the nominee or beneficiary.
- Sum assured on death
- Accrued Reversionary Bonuses plus Terminal Bonus, if any, immediately on death.
Sum assured on death shall be higher of
- 10 times the annual premium if age is less than 45 years and 7 times the annual premium if age is 45 years and above&
- basic sum assured plus additional death benefit
Additional death benefit is the discounted value at the end of the year
- 1) 25% of basic sum assured paid at the end of each of the last four years of the policy and
- 2) Family income benefit i.e the monthly income benefit of 1% of the basic sum assured at the end of every month following the date of death till the end of the policy term but not less than 36 monthly payments. The benefit payment may extend beyond the term in case of death during the last 3 years.
However the death benefit will be at least 105% of Total Premiums Paid till the date of death excluding any extra and rider premiums and taxes.
The policy will not accrue any future bonuses after death.
₹ 1 Lakh
No limit, Subject to Board approved underwriting policy.
PREMIUM AND CORRESPONDING POLICY PAYMENT TERM (Years)
8, 10, 15
PREMIUM PAYMENT MODE
- Half yearly
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.
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.
# Provided all the premiums are paid and the policy is in force.
& Annualised premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums, rider premiums, loadings for modal premiums, taxes and other statutory levies, if any.
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/Elec/June 2021/61
Read the policy document here