What Coverages Are Offered in Shriram Life Cash Back Term Plan?

This is the most basic coverage under the Shriram Life Cash Back Term Plan, wherein the risk of premature demise is covered. If the life insured passes away during the coverage tenure, the death sum assured is paid to the claimant.

Shriram Life Cash Back Term Plan also has a maturity benefit. Under this benefit, the aggregate premiums paid during the coverage tenure are refunded if the life insured survives the policy tenure.

This is an optional rider that covers accidental demise and permanent total disablements. An additional rider benefit is paid if the life insured suffers from these contingencies during the rider tenure. Moreover, in the case of a disability, future premiums are also waived.

This rider also covers accidental demise and disablements. However, unlike the previous rider, wherein the rider benefit is paid in a lump sum, the Family Income Benefit Rider pays the benefit in instalments. The rider coverage is paid in monthly instalments for a minimum period of ten years.

This rider covers a list of twenty-four major illnesses. If the life insured suffers from any covered illness, the rider pays an additional benefit in a lump sum to help you deal with the financial loss suffered.