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Shriram Life Assured Savings Plan
What is Shriram Life Assured Savings Plan?
As we get older, our responsibilities increase; responsibilities towards our elderly parents, spouse and children. We go from being dependents to having dependents of our own, and it is our responsibility to take care of them. But what would happen to them in our absence?
Life Insurance is the tool that will make sure your family is taken care of in your absence. Presenting Shriram Life Assured Savings Plan (UIN 128N089V04), which helps build your savings while ensuring your family is taken care of financially, even in your absence – and all of that available without any medicals.
- Life cover without medicals
- Provides life cover and returns with full assurance upfront
- Higher maturity benefit for higher premiums (as high as 174%*)
- Provides flexibility to change policy terms and premium payment
- Enjoy coverage throughout the term by paying premiums for a limited period
- Benefit from advanced protection via riders
Policy Type
Savings Plans
Policy Term
7, 10 and 15 years
Minimum Premium
₹1000 per month
Maturity Age
65 years
Features and Benefits of the Shriram Life Assured Savings Plan
Death Benefit
The death benefit paid to your nominee(s) or beneficiary(ies) depend on the Plan option chosen and is equal to “Death Sum Assured” or 100% of total premiums paid to date. 2X benefit in case of accident
Maturity Benefit
If the policy is in force and you survive until the end of the policy term, the maturity sum assured will be paid to you in a lump sum.
Paid-up Benefit
If your policy lapses after the first policy year due to non-payment of premiums, it will continue as a paid-up policy until the end of the policy term or the death of the life assured, whichever is earlier.
Loans
You can take out a loan on your policy at a low-interest rate of 9.5% p.a., with a maximum loan amount of up to 90% of the surrender value.
Tax Benefits
You can get a 100% tax deduction on premiums paid in a year and both maturity and death benefits are fully exempted from taxes.
Flexible Options
The Shriram Life Assured Savings Plan provides flexibility in policy terms and premium payment and provides life cover without medicals# as well as returns that are fully assured upfront. Plus, higher premiums can lead to higher maturity and accidental cover. Don't let your policy lapse - pay your premiums as and when they're due to maximise your benefits.
How to Apply for Shriram Life Assured Savings Plan?
You can apply online for Shriram Life Assured Savings Plan in just four easy steps to submit your application:
Step 01
Please enter your Name and Mobile number and Email address
Step 02
Verify your Mobile Number and Basic details
Step 03
Select Premium Details
Step 04
Purchase Your Policy
How to Claim for Shriram Life Assured Savings Plan?
You can submit Death Claims, Disability Claims, Cancer Care Claims and Critical Illness Claims for your Shriram Life Assured Savings Plan online on our website by following simple steps provided below.
Step 01
Come to the claim center, select intimate claim Button
Step 02
Choose in the dropdown Request Type - death
Step 03
Fill the details of insurer, death event, details of doctor who declared death (Doctor -Non mandatory)
Step 04
Fill the personal and bank details of claimants and upload the documents
Documents to be uploaded
- Death certificate issued by Local Body/Municipal Body
- Nominee bank passbook
- Postmortem report
- Claim form B
- Claim form A
- Policy Document
- Hospital Summary/Hospital records
- Nominee ID proof (ID proof /address Proof)
- FIR/ Panchnama/ Inquest Report and final investigation report
- Upload Signature of claimant
- Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if Rider is opted)
- NEFT mandate form
- Claims form C and E wherever applicable
Eligibility and Documents Required for Shriram Life Assured Savings Plan
Eligibility Criteria | Limits |
Age Criteria | Entry Minimum - 3 years (age last birthday) Maximum - 55 years (age last birthday) |
Maximum Maturity | Age - 65 years (age last birthday) |
Policy Term | 7, 10, 15 years |
Premium Paying Term | Regular - Equal to the chosen policy term Limited - For Policy Term of 7 Years: 5 Years |
Premium Mode | Yearly, half-yearly, quarterly, monthly |
What does the Shriram Life Assured Savings Plan cover?
The Shriram Life Assured Savings Plan is a comprehensive insurance policy that provides a range of benefits to the policy holder and their beneficiaries. The death benefit varies depending on the option chosen, with the first option providing a death benefit equal to one "Death Sum Assured," while the other option includes an additional benefit for accidental demise. If the policy holder survives until the end of the policy term, they will receive the maturity sum assured in a lump sum. A paid-up death sum assured or paid-up maturity sum assured will be paid out, if the policy premiums are fully paid. In the case of minor lives assured, the policy begins on the first policy anniversary and if the minor life assured passes away within the first year, the premiums paid will be refunded. This policy provides a range of benefits for those seeking comprehensive insurance coverage.
Downloads
At Shriram Life, we strive to make our customers' experience as smooth and convenient as possible. To this end, all our policy-related documents are readily accessible online through our website at www.shriramlife.com. Simply navigate to the download section of the policy page to access and download the policy document, brochure and presentation at your convenience.
FAQs
What are the eligibility criteria for the Shriram Life Assured Savings Plan?
The entry age for Shriram Life Assured Savings Plan is minimum is 3 years (age last birthday) and the maximum is 55 years (age last birthday). The maximum maturity age is 65 years (age last birthday).
What are the available policy term options for the Shriram Life Assured Savings Plan?
The available policy term options for Shriram Life Assured Savings Plan are 7, 10, 15 years.
What is the premium paying term options for the Shriram Life Assured Savings Plan?
The premium paying term is equal to the chosen policy term for regular premium payment, and for limited premium payment, it is 8, 5 years for a policy term of 10 years and 8, 5 years for a policy term of 15 years for Shriram Life Assured Savings Plan.
What is the minimum premium for the Shriram Life Assured Savings Plan?
The minimum premium for the Shriram Life Assured Savings Plan is yearly - ₹5,000, half-yearly - ₹3,000, quarterly - ₹1,500 and monthly - ₹500.
Can I get life insurance coverage without any medical tests for the Shriram Life Assured Savings Plan?
You can get life insurance coverage without any medical tests with the Shriram Life Assured Savings Plan.
Testimonials
What our customers say about us
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