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Shriram Life New Shri Vidya Plan
What is Shriram Life New Shri Vidya Plan?
our child’s future is the most important concern for you. With the soaring educational expenses in today’s life, giving good education will be tough unless it is planned. We have Shriram New Shri Vidya (UIN: 128N051V03) plan designed for you to make your child’s aspirations come true. The plan offers survival benefits to adjust according to your child’s education requirements and also insurance cover in case of any unfortunate event happens to you
- Shriram Life New Shri Vidya is a non-linked participating plan that earns a bonus to enhance the corpus.
- Get an additional benefit in the case of death during the policy tenure.
- Shriram Life New Shri Vidya pays guaranteed money-back benefits in the last four policy years.
- Additionally, you can opt for three riders when you buy the plan online to enhance the scope of coverage.
- Choose a high sum assured to enjoy premium rebates that make the premium affordable.
Product Type
Savings and Child Plans
Premium
Starting from ₹8,000 annually
Policy type
Non-linked, participating, individual savings plan
Sum assured
Starting from ₹1 lakh
Features and Benefits for Shriram Life New Shri Vidya
Savings Creation
Shriram Life New Shri Vidya is a savings-oriented life insurance policy that helps you create a corpus for your child's future needs.
Regular Money-backs
The money-back benefits give liquidity in the last four years of the policy.
Death Benefit
The death benefit helps in providing additional financial assistance for your child's future.
Additional Bonus
Simple reversionary bonuses and terminal bonus help in enhancing the corpus.
Add-on Riders
The optional riders allow you to enjoy an inclusive scope of coverage. Choose from the three riders available as per your needs.
Premium Rebates for Higher Coverage
Select high sum assured and enjoy premium rebates that bring down the premium outgo.
How to Apply for Shriram Life New Shri Vidya?
You can apply online for Shriram Life New Shri Vidya 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 New Shri Vidya?
You can submit Death Claims, Disability Claims, Cancer Care Claims and Critical Illness Claims for your Shriram Life New Shri Vidya 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 New Shri Vidya
| Entry Age | 18 to 50 Years |
|---|---|
| Available Policy Terms | 10/15/20/25 Years |
| Choice of Premium Paying Term | 8 / 10 / 15 / 20 / 25 years |
| Premium Mode | Yearly, Half-Yearly, Quarterly, Monthly |
| Minimum Annual Premium | Starting from ₹8,000 |
What is Covered under Shriram Life New Shri Vidya?
- The Shriram Life New Shri Vidya covers the risk of a premature demise. If the life insured passes away during the policy tenure, the sum assured on demise and accrued reversionary bonuses are paid. In addition to this, an additional death benefit is also paid, which includes the discounted value of the payback benefits paid in the last four years of the plan and a family income benefit of 1% of the sum assured for a minimum of 36 months.
- If the life insured survives the policy tenure, survival benefits of 25% of the sum assured are paid in each of the last four years of the policy tenure. On maturity, the accrued reversionary bonus and any terminal bonus are paid.
Downloads
All the policy related documents are easily available online on the website for the comfort and ease of all our customers. You can simply visit our website www.shriramlife.com. go to the download section in the policy page and download the policy document, brochure and presentation.
FAQ's
What type of policy is Shriram Life New Shri Vidya?
Shriram Life New Shri Vidya is a savings-oriented money-back policy which also earns bonus declarations. The policy doubles up as a child insurance plan for education and helps you save for the higher education of your children.
What are bonus declarations?
When the insurance company earns a profit, a part of the profit is distributed among policyholders through bonuses. So, bonus declarations are added benefits that you can get on the policy.
Does the Shriram Life New Shri Vidya plan offer an assured bonus?
Bonus is not assured for the Shriram New Shri Vidya plan, as it depends on the profit earned by Shriram Life each year. The bonus is declared based on the company’s profit, and the value varies yearly.
How is the bonus calculated for the Shriram New Shri Vidya plan?
The bonus for the Shriram New Shri Vidya plan is calculated based on the sum assured. For instance, if the bonus is declared at 5% and the sum assured is ₹10 lakhs, you will get a bonus of ₹50,000.
What is the meaning of a money-back plan?
A money-back plan pays a part of the sum assured at specified intervals during the policy term. Shriram Life New Shri Vidya is a type of money-back policy that pays the sum assured in instalments over the last four years of the policy.
Testimonials
What our customers say about us
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Rasiya
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