FAQs for Shriram Life Fortune Builder

The premium for coverage in Shriram Life Fortune Builder covers the risk of premature demise and the payment made for this purpose is called the risk premium. In the event of an untimely death during the policy term, the policy holder's family will receive a lump sum payout.

The savings component of Shriram Life Fortune Builder is the Sum Assured paid in instalments to the policy holder upon maturity, providing a savings corpus for future needs.

Policyholders can make partial withdrawals from Shriram Life Fortune Builder after the fifth policy anniversary. One free partial withdrawal is permitted during the policy term. Subsequent withdrawals will be charged ₹250 on the unit fund.

Yes, Shriram Life Fortune Builder offers four riders that can be added to the policy for extra protection, such as the Shriram Life Accidental Death and Disability Income Rider, Shriram Life Critical Illness Care Rider and the Shriram Life Accidental Death and Disability Rider.

To be eligible for Shriram Life Fortune Builder, you must be between 0 and 65 years of age and the policy term must be 10, 15 or 20 years. The premium-paying term is single. The minimum annual premium is ₹25,000 and the Sum Assured is a minimum of 1.25 times the single premium.

To buy Shriram Life Fortune Builder, you will need to submit identity and age proof, address proof, medical check-up documents (if required), recent passport-size photographs, proof of documents for earnings and bank statements for the last six months.

The Shriram Life Fortune Builder covers the risk of premature demise with a lump sum payout to the policy holder's family, provides savings benefits through a Sum Assured paid in instalments upon maturity and offers additional protection through riders.

Policyholders can select to receive the maturity benefit as a lump sum or in instalments over one to five years, subject to some conditions.

Policyholders can make changes to their Shriram Life Fortune Builder policy, such as reducing the Sum Assured or adding riders, subject to some restrictions.

Yes, partial withdrawals are permitted from the fifth policy anniversary. One free withdrawal is allowed during the policy term. Any subsequent withdrawals will incur a charge of ₹250 on the unit fund.

Policyholders can make alterations to their policy, such as reducing the Sum Assured or adding riders, with some restrictions.