What Coverages Are Offered in the Shriram Life Premier Assured Benefit?

If you choose life cover, you will get life protection. When demise happens to you, your nominee will receive the Death Sum Assured. This will help them take care of their financial needs even in your absence.

If you choose life plus cover, your nominee will receive the coverage amount upon the demise of the life assured. Later, when the policy matures, your nominee will receive the maturity benefits either as lump-sum amounts or in annual instalments.

If you choose Income option, you can receive survival benefits where you will be paid in annual payouts starting from the end of the premium payment term till the policy maturity.

You can receive maturity benefits as lump sum payouts or in four annual instalments once the policy matures.

If you want extensive protection against demise, accidents, or illnesses, there are four rider protection plans available. 

1. Accident Benefit Rider - If the life assured meets with an accident that leads to the demise or permanent disability, they will receive 100% of the rider sum assured.
2. Family Income Benefit Rider - 1% of the rider sum assured can be drawn as the monthly payouts when the life assured meets with accident-led demise or permanent disability.
3. Extra Insurance Cover Rider - When life assured meets with demise during the rider period, the rider sum assured will be given to the nominee.
4. Critical Illness Plus Rider - If the life assured is diagnosed with any of the twenty-four specified critical illnesses, then 100% of the rider sum assured will be given to cover the medical expenses.