Shriram Life New Shri Raksha (UIN: 128N052V01)
SHRIRAM LIFE NEW SHRI RAKSHA
Shriram Life New Shri Raksha (UIN: 128N052V01) is a non linked participating plan that offers dual insurance cover during the term. The plan also provides for a whole life insurance cover after the policy term apart from sum assured on survival at maturity. The premiums paid towards this policy will be returned on maturity.
KEY FEATURES
Twice the basic sum assured on death to offset monetary losses.
Additional basic sum assured on death after the policy term.
Reversionary Bonus to enhance your savings and life cover.
KEY BENEFITS
Maturity Benefits
In case of survival of the life assured up to the end of the policy term and all the due premiums have been paid, the sum assured plus accrued reversionary bonuses plus terminal bonus (if any) will be paid.
Death Benefits
In case of death of the life assured during the policy term, provided all the due premiums have been paid until the date of death, Sum assured on death plus Accrued Reversionary Bonuses plus Terminal Bonus, if any are paid to the nominee or beneficiary.
However the death benefit will be at least 105% of all premiums paid till the date of death excluding any extra and rider premiums and taxes.
The policy will not accrue any future bonuses after death.
Extended Benefits
In case the life assured survives the policy term, the insurance cover will continue till the life assured attains age of 100 years. In case of death during this period or survival upto the age of 100, one basic sum assured will be paid. This is an extended benefit payable after the policy term and the policy will not participate in profits after the policy term.
ELIGIBILITY
| ENTRY AGE | Minimum 18 Years Maximum 55 Years (Age last birthday) |
|---|---|
| MATURITY AGE | Maximum 75 Years (Age last birthday) |
| SUM ASSURED | Minimum Rs. 1.5 Lakhs Maximum Subject to underwritten policy. |
| PREMIUM AND CORRESPONDING POLICY PAYMENT TERM (YRS) | 10 10 15 10,15 20 10,20 25 110, 15, 25 |
| PREMIUM PAYMENT MODE | Yearly Half-yearly Monthly Quarterly |
RIDERS (ADD ONS)
| Name | Description |
|---|---|
| Accident Benefit Rider | Provides assistance to Life Assured, in the event of permanent / total disability due to an accident. |
| Extra Insurance Cover | Provides additional life cover against the payment of extra premium. |
| Critical Illness Cover | Provides a benefit to help cover medical and rehabilitation costs associated with critical ailments. |
| Family Income Benefit | Provides additional protection to the family for a nominal premium. |