Online Shriram Guaranteed Return Plan (UIN – 128N049V01)
THIS PLAN IS CLOSED FOR SALE (SERVICED BY CUSTOMER SERVICE)
Online Shriram Guaranteed Return Plan (UIN: 128N049V01) is a one-time investment and insurance plan where you pay premium only once and get the dual benefit of life cover and a guaranteed return on maturity. This is an ideal plan to maximize the returns based on your lump sum cash surplus.
KEY FEATURES
Tax benefits as per tax laws.
Guaranteed maturity benefit and life insurance cover.
No commitment of paying premiums regularly.
Choice of Premium Paying Term – Single, Limited, Regular
KEY BENEFITS
Maturity Benefit
In case of survival of the life assured up to the end of the policy term, guaranteed maturity benefit as defined below will be paid.
Guaranteed maturity benefit = maturity benefit factor multiplied by single premium.
Death Benefit
In case of death of the life assured during the policy term, Sum assured on death as defined below will be paid to the nominee or beneficiary.
“Death sum assured” is defined as highest of:
where Sum assured = absolute amount assured to be paid on death which is 10 times the single premium.
- 125% of single premium for ages less than 45, 110% of single premiums for ages 45 and above.
- Sum assured.
- Maturity sum assured.
Maturity sum assured = minimum guaranteed sum assured payable on maturity which is equal to Guaranteed maturity benefit factor multiplied by single premium.
In case of death of the life assured during the policy term. “Death sum assured” will be paid to the nominee or beneficiary.
ELIGIBILITY
| ENTRY AGE | Minimum:3 Years Maximum:40 Years (Age last birthday) |
|---|---|
| MATURITY AGE | Minimum:18 Years Maximum:55 Years (Age last birthday) |
| POLICY TERM | 5/10/15 Years |
| PREMIUM PAYING TERM | Single |
| PREMIUM | Minimum:Rs.25,000 Maximum:No Limit subject to underwriting considerations as per Board approved underwriting policy |
| MINIMUM SUM ASSURED | Rs.25,000 Premiums will be in multiples of Rs.1000/-. Premiums are exclusive of service tax and education cess. |
RIDERS (ADD ONS)
| Name | Description |
|---|---|
| Accident Benefit Rider | Provides assistance to Life Assured, in the event of permanent / total disability due to an accident. |
| Family Income Benefit | Provides additional protection to the family for a nominal premium. |
| Critical Illness Cover | Provides a benefit to help cover medical and rehabilitation costs associated with critical ailments. |