Shriram Life Assured Income Plus (UIN: 128N060V03)
SHRIRAM LIFE ASSURED INCOME PLUS
Shriram Life Assured Income Plus (UIN: 128N060V03) is a non-linked non-participating endowment assurance plan. This plan caters to the of customers who wish to invest only for a minimum fixed duration and reap annual benefits even after maturity. The plan offers life cover of minimum 10 times the annualized premium& for age up to 50 years and 7 times the annualized premium& for ages 51 years and above.
KEY FEATURES
Pay premium for only 5 years
Assured Income for 5 years from Maturity
Additional protection through Riders
Life cover for 10 years
Lower Premium for High Sum Assured
KEY BENEFITS
Maturity Benefit
On survival of the life assured up to the end of the policy term and provided the policy is in force, sum assured will be paid in five equal annual installments i.e. 20% of sum assured will be paid at the end of every year after maturity.
Death Benefit
In case of death of the life assured during the premium paying term, provided the policy is in force, “death sum assured” as defined in the brochure will be paid in lump sum to the nominee(s) / legal heir(s) of the Life assured and the policy will be terminated.
If the life assured dies any time after completion of policy term but before the commencement of installments, the installments will be paid to the nominee(s) or beneficiary(ies). There is no lump sum option.
ELIGIBILITY
| ENTRY AGE | Minimum 8 Years Maximum 65 Years (Age last birthday) |
|---|---|
| MATURITY AGE | Maximum 75 Years (Age last birthday) |
| SUM ASSURED | Minimum ₹ 1.5 Lakhs for ages upto 50 years ₹ 3 Lakhs for ages 51 years and above Maximum No Limit, Subject to Board approved underwriting policy. |
| PREMIUM | ANNUAL PREMIUM ₹ 17,732 Maximum No Limit, Subject to Board approved underwriting policy. |
| POLICY TERM | 10Years |
| PREMIUM PAYMENT TERM | 5Years |
| PREMIUM PAYMENT MODE | Yearly Half Yearly Quarterly Monthly |
RIDERS (ADD ONS)
| Name | Description |
|---|---|
| Accident Benefit Rider (UIN 128B001V03) | In case of death or total and permanent disability due to accident during the rider term, we will pay 100% of the rider sum assured. Also, if the life assured becomes totally and permanently disabled in an accident, we will waive off all the future premiums under the policy. The benefit under this rider is applicable only once during the rider term. |
| Shriram Extra Insurance Cover Rider (UIN 128B009V03) | In case of death of the life assured during the rider cover term, sum assured under rider will be paid to the nominee. |
| Family Income Benefit Rider (UIN 128B002V03) | In the event of accidental death or if the life assured becomes totally and permanently disabled due to an accident within the rider term, 1% of rider sum assured is payable every month immediately from the end of month of accident for a guaranteed period of 10 years or till the end of the rider term whichever is higher. |
| Shriram Life Critical Illness Plus Rider (UIN 128B016V01) | If you are diagnosed to be suffering from any of the 24 specified Critical Illnesses, we will pay 100% of the rider Sum Assured on survival of 30 days following the date of first confirmed diagnosis. This rider also gives you an upside of increments in your rider Sum Assured through Loyalty Additions. |