Shriram Life Super Income Plan

Shriram Life presents Shriram Life Super Income Plan (128N087V02) specially designed to cater to long term financial needs of an individual & his family. These needs are fulfilled under the plan in the following ways –

  • Financial Security – Through Life Insurance cover till Age 75
  • Financial Stability – Through Guaranteed Monthly Income till Age 75 & the Lump Sum paid at Maturity
  • Financial Control – Through Flexibility to change Premium Payment Term

KEY FEATURES

  • Life insurance Cover till 75

  • Guaranteed Monthly Income till 75

  • Guaranteed Maturity Sum Assured

  • Wide range of Premium Payment Term

  • Flexibility to change Premium payment term

  • Additional protection through Riders

KEY BENEFITS

Maturity Benefit

In case of the survival of the life assured till the end of the policy term provided the policy is in force, “Guaranteed Maturity Sum Assured” will be paid and the policy is terminated.

Where

“Guaranteed Maturity Sum Assured” is equal to 5 times the Annualized Premium.

Death Benefit

In case of death of the life assured during the Policy Term, provided the policy is in force, an amount equal to higher of “Death Sum Assured” or Surrender Benefit as applicable on the date of death will be paid in lump sum to the nominee(s) or beneficiary (ies) and the policy is terminated. Any Super Income Benefit paid will not be recovered from the death benefit.
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Super Income Benefit

In case of survival of the life assured till the end of the premium paying term, provided the policy is in force, a Super Income Benefit of fixed monthly amount will be paid from the end of the premium paying term till the end of the policy term or until death, whichever is earlier.

Tax Benefits

Tax benefits as per prevailing tax laws. Tax benefits are subject to changes according to the tax laws from time to time; please consult your tax advisor for details.

For more details, refer the product brochure.

Eligibility

ENTRY AGE

Minimum

25 Years

Maximum

50 Years

MATURITY AGE

Maximum

75 Years (Fixed)

POLICY TERM

75 minus age at entry

PREMIUM PAYMENT TERM

10-25 Years

(Premium Paying Term plus Age at entry should not exceed 65 years)

Premium Range

Minimum (₹)

₹ 30,000*

Maximum (₹)

No Limit

(subject to Board approved underwriting policy)
(The premium shall be in multiples of ₹ 1000)
*Annualized Premium

SUM ASSURED

10 times annualised premium

(Excludes extra premium, rider, GST and cess)

PREMIUM PAYMENT MODE

  • Yearly
  • Half-yearly
  • Quarterly
  • Monthly

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 and the terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult our advisor before concluding the sale.

  • 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 E-brochure here

Read the Product brochure here