Shriram Life Smart Protection Plan Pemium Components

This portion of the premium goes towards financially protecting the family in case of the unexpected demise of the insured person. The silver option of the Shriram Life Smart Protection Plan comes with a life cover.

Each policy holder's life has different dangers and risks involved. And as a result, the premium fee amount is calculated by the insurer based on these dangers. Age and health-related factors can affect your level of risk.

If the life assured passes away while the policy is in effect, the beneficiary will receive the amount assured as a death benefit. The primary benefit of this plan is the death benefit. 

This portion of the premium goes towards both unexpected demise and unexpected demise due to any specified critical illness. If demise occurs first, the death sum assured will be paid to the nominees or the beneficiaries. However, if a critical illness is diagnosed first, then the critical illness benefit of 25% of the sum assured will be paid immediately. The policy will continue for the life cover only till the end of the policy tenure. Upon the demise of the insured person during the rest of the policy tenure, the death sum assured minus the critical illness benefit already paid will be paid and the policy will be terminated. The diamond option of the Shriram Life Smart Protection Plan comes with a life cover along with a critical illness cover. The critical illnesses covered include the following:

• Cancer of a specified severity
• Myocardial infarction
• Open-chest coronary artery bypass graft (CABG)
• Kidney failure requiring regular dialysis
• Stroke resulting in permanent symptoms
• Major organ/bone marrow transplant

This portion of the premium goes towards both unexpected demise and unexpected demise due to an accident. In case of unexpected demise, the death sum assured will be paid to the nominees or the beneficiaries. However, in case of demise due to an accident, in addition to the death sum assured, an additional benefit equal to the death sum assured will be paid. The gold option of the Shriram Life Smart Protection Plan comes with a life cover along with an accidental death cover.