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Shriram Life Growth Plus
What is Shriram Life Growth Plus?
Shriram Life Growth Plus (UIN: 128L066V03) provides life cover and savings through market-linked earnings. It is a unit-linked, non-participating life insurance plan providing you with life cover and savings in one place.
- You can buy Shriram Life Growth Plus online just by following a few easy steps
- The flexibility of premium payment as per your convenience
- Switch units from one fund to the other fund multiple times without any charges
- Availability of additional riders to extend the protection
- Select from multiple fund classes and saving strategies as per your requirement
- Provides coverage to your loved ones as well
- Get tax benefits under Shriram Life Growth Plus
Policy Type
Investment Plans
Policy Tenure
10,15 or 20 Years
Minimum Premium
Single: ₹ 50,000 for tenure of ten years and ₹ 2,00,000 for tenure of fifteen years and above Limited: Yearly: ₹ 60,000 Monthly: ₹6,000 Regular: Yearly: ₹ 30,000 Monthly: ₹ 3,500
Maturity Age
70 years (age at last birthday)
Features and Benefits of the Shriram Life Growth Plus
Premium Payment Options
Pay premium by selecting a single, limited or regular tenure
Two Death Options
Choose one option out of two depending on the coverage
Multiple Fund Classes and Investment Schemes
Fund selection is possible in a fixed percentage to suit your needs
Free of Cost Switching and Redirection of Premium
Switch units from one fund to another fund during the policy term and also redirect
future premium(s) to save in any of the available funds
Death Benefit and Maturity Benefits
The death benefit is available with two options and a maturity benefit payable on the
survival of the insured
Rider and Loyalty Benefits
Further protection by additional riders and loyalty benefits in the form of additional
units
How to Apply for Shriram Life Growth Plus
You can apply for the Shriram Life Growth Plus in four easy steps:
Step 01
Register using your Mobile Number
Step 02
Verify and Proceed using OTP
Step 03
Receive a Call from our representative
How to Claim for Shriram Life Growth Plus
You can submit death claims, disability claims, cancer care claims and critical Illness claims for
your Shriram Life Growth Plus 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
Document 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 Growth Plus
You can apply online for Shriram Life Growth Plus. Follow the steps given below to submit your application
| Eligibility Criteria | Limits |
|---|---|
| Age at Entry | Minimum: 30 days Maximum: 60 years (age last birthday) |
| Maximum Exit Age | 70 years (age last birthday) |
| Policy Tenure | 10,15to20 |
| Policy Premium Term | Limited-6 years,Regular-Same as policy term,Single-Single |
| Premium | Minimum Single: Rs. 50,000 for tenure of 10 years and Rs. 2,00,000 for tenure of 15 years and above Limited: Yearly: Rs. 60,000 Monthly: Rs. 6,000 Regular: Yearly: Rs. 30,000 Monthly: Rs 3,500 Maximum: No limit, subject to Board approved underwriting policy |
| Sum Assured | Minimum: Single: Rs. 62,500 Regular: Rs. 2,10,000 Limited: Rs. 4,20,000 Maximum: No limit, subject to Board approved underwriting policy |
| Policy Premium Term | Limited-6 years,Regular-Same as policy term,Single-Single |
What does the Shriram Life Growth Plus cover?
The Shriram Life Growth Plus comes with different policy tenures and the premium payment is based on that tenure. You have two death benefit options depending on your need for coverage. It will be paid in case of the demise of the policy holder. The first option pays the sum assured plus the top-up sum assured and fund value along with the top-up premium on fund value. The other one pays a higher sum assured and base premium fund value plus a higher top-up sum assured and top-up premium fund value. Maturity benefit is paid if the assured survives up to the end of the policy. You have the option to get additional coverage with riders.
Downloads
You can find all the policy-related documents online on the website of Shriram Life Insurance
for the comfort and ease of all our customers. Simply visit the website www.shriramlife.com.
and go to the download section on the policy page to download the policy document, brochure
and presentation.
FAQ's
What is Shriram Life Growth Plus?
The Shriram Life Growth Plus is a unit-linked, non-participating life insurance plan providing life coverage with an option to save money by market-linked savings.
What is the maturity benefit of a Shriram Life Growth Plus?
If the policy holder survives the policy term under Shriram Life Growth Plus, he/she receives the sum assured which is the total of all the base premium fund value and the top-up premium fund value, if any. The fund value is calculated as the number of units multiplied by the applicable net asset value.
What are the benefits of Shriram Life Growth Plus?
The benefits of Shriram Life Growth Plus mainly include death benefits, maturity benefits, surrender benefits, tax benefits, loyalty additions and many other benefits.
What does the Shriram Life Growth Plus cover?
The Shriram Life Growth Plus covers the following:
- The policy holder can select the policy tenure and amount of the sum assured.
- The premium amount payable is calculated based on the premium paying term..
- Then comes the selection of funds by the policy holder to put their money. Policy holder can do this based on the risk appetite and expected returns that they are likely to earn from each fund.
- There is an option to switch funds also but the rules of the existing policy shall apply to govern such switches.
Testimonials
What our customers say about us
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