Shriram Life Assured Savings Plan (UIN 128N089V03)
Shriram Life Assured Savings Plan
Shriram Life Assured Savings Plan (UIN 128N089V03) A Non-linked Non-Participating Life Insurance Individual Savings Plan. As we get older, our responsibilities increase; responsibilities towards our elderly parents, spouse and children. We go from being dependents to having dependents of our own, and it is our responsibility to take care of them.
Features
Life Cover without medicals#
Higher maturity benefit for higher premiums (as high as 183%*)
Flexibility to change policy term and premium payment term
Flexibility to change policy term and premium payment term
Double cover on Accidental Death with Option 2
Benefits
Death Benefit *
In case of the death of the life assured anytime during the policy time, death benefit depends on the plan option chosen and is paid to the nominee(s) or beneficiary (ies), provided the policy is in force.
Option 1 (Life Cover) The death benefit equal to one “Death Sum Assured” will be payable to the nominee(s) or beneficiary(ies), provided the policy is in force
Option 2 (Life Cover with in-built accidental death cover) In case of death of the life assured due to accident anytime during the policy time, an additional benefit equal to one more “Death Sum Assured” will be paid to the nominee(s) or beneficiary(ies), provided the policy is in force. This benefit will be payable in addition to the death benefit payable under option 1 (Life Cover). The policy will terminate on payment of the death benefit.
Maturity Benefit
In case of survival of the life assured up to the end of the policy term, provided the policy is in force, the Guaranteed Maturity Sum Assured will be payable immediately in a lump sum and the policy will be terminated.
Eligibility
Plan Options | Option 1: Life Cover | ||||
Entry Age | Minimum: 3 years (age last birthday) | ||||
Maturity Age | Minimum: 18 years (age last birthday) | ||||
Policy Term | 7, 10 & 15 years | ||||
Premium Paying Term | Regular - Equal to Policy Term | ||||
Premium Payment Mode | Yearly / Half Yearly / Quarterly / Monthly | ||||
Min Premium | Yearly - Rs 5,000 / Haly yearly - Rs 3,000 | ||||
Basic Sum Assured | Minimum: Rs 40,000 | ||||