What Coverages Are Offered in the Shriram Life Pension Plus?

Shriram Life Pension Plus covers the risk of premature demise during the policy tenure. In such cases, the higher of the following is paid -

In case of death of policyholder during the policy term, higher of:

will be paid to nominee and policy will be terminated.

Total Fund Value
Assured death benefit

Total fund value is defined as the sum of base premium fund value plus top-up fund value.

Base premium fund value is the value of the fund built from the base premiums.

Top-up premium fund value is the value of the fund built from the top-up premiums.

Assured death benefit is defined as 105% of the total premiums paid.

Total premiums paid are the total of base premiums paid and the top-up premiums paid.

Vesting benefit is paid when the insured survives the policy tenure and the plan matures. The benefit is higher of the following -

• Total fund value which is the base premium fund value and the top-up premium fund value
• Assured vesting benefit which is 101% of total premiums paid till death

After every 5 years, you are also eligible for loyalty additions which are additional benefits added to the fund value. The loyalty addition is calculated as a percentage of the average daily base premium fund value over the last two years.