Shriram Easy Life Cover (UIN-128N056V01)
SHRIRAM EASY LIFE COVER
Shriram Easy Life Cover (UIN: 128N056V01) is a non participating non linked life insurance product. The plan aims to meet the short term insurance needs of people.
KEY FEATURES
Death benefit is 10 times the annualized premium.
Minimum guaranteed sum assured payable on maturity
Tax benefits as per laws.
KEY BENEFITS
Maturity Benefits
In case the life assured survives up to the end of the policy term Maturity sum assured will be paid.
Death Benefits
If the life assured dies during the policy term, Death Sum Assured as defined below will be paid to the nominee or beneficiary.
Sum assured on death shall be higher of:
- 10 times the annualized premium
- Sum assured
- Maturity sum assured
- 105% of the premiums paid till the date of death
where sum assured is the absolute amount assured to be paid on death which is 10 times the annualized premium for all ages.
Maturity sum assured is the minimum guaranteed sum assured payable on maturity which is equal to total annualized premiums paid multiplied by maturity benefit factor.
ELIGIBILITY
| ENTRY AGE(LIFE ASSURED) | Minimum 13 Years ^ Maximum 45 Years (Age last birthday) |
|---|---|
| MATURITY AGE(PROPOSER) | Minimum 18 Years ^ Maximum 99 Years (Age last birthday) |
| POLICY TERM(YRS) | 5 years |
| PREMIUM PAYING TERM | 5 Years |
| PREMIUM PAYMENT MODE | Yearly Half-yearly Monthly Quarterly |
| DATE OF COMMENCEMENT OF RISK | Risk starts immediately from the date of commencement of the policy |
| MINIMUM ANNUALISED PREMIUM | RS.6500/- |
| SUM ASSURED | Minimum Rs. 65,000 Maximum Subject to underwritten policy. |