Shriram Life Premier Assured Benefit (UIN-128N094V03)
Shriram Life Premier Assured Benefit
Shriram Life Premier Assured Benefit (UIN-128N094V03) A Non-Linked Non-Participating Individual Life Insurance Savings Plan. This plan gives your Life Goals the advantage of guarantee* so that you continue to live life to the fullest, come what may. With two life cover options and three ways to receive pay-outs, this plan combines life insurance with guaranteed* returns. Choose a pay-out option according to your current financial goals and rest assured that you would be able to change pay-out options#, as and when your life goal changes.
Features
2 Life Cover Options – Life & Life Plus
Guaranteed* Benefits with attractive returns
3 Ways to Receive Benefit Payout – Income, Settlement in Instalments & Settlement in Lump Sum
Life Plus Option for Additional Protection – Get maturity/income benefits paid as scheduled along with the sum assured on death or take a discounted value of the entire benefit in a lump sum
Flexibility – change pay-out options any time before the benefit pay-out starts
Single Pay Option where guaranteed cash pay-out can start from 1st policy anniversary with Income Option
Short PPTs - Single, 6/8/10 years
Min Policy Term of 10 years and maximum of 20 years
Higher Benefits for higher premium
Enhanced Protection with 4 optional riders
Benefits
Death Benefit
In case of death of the life assured during the policy term, provided all the due premiums till the date of death have been paid, “Death Sum Assured” will be paid to the nominee or beneficiary as follows.
Life Option The death benefit is paid immediately in a lump sum and the policy will be terminated.
Life plus Option The death benefit is paid in equal monthly instalments starting from the month of death till the end of the policy term or subject to a minimum of 36 instalments. In addition to the above death benefit, any income/settlement/lump sum benefits due from the date of death will continue to be paid as per the chosen pay-out option as if the life assured were alive and the policy will be terminated on payment of the last payout.
Survival Benefit
For the Income Option - Annual payouts, as a percentage of the annualized/single premium (as per the table below) are paid from the policy anniversary after the end of the premium paying term (1st policy anniversary for Single Pay) till the end of the policy term
Maturity Benefit
On survival of the life assured up to the end of the policy term, provided the policy is in force, the maturity sum assured is paid as follows.
For Income/ Settlement in Lump Sum Maturity Sum Assured is paid in a lump sum on the date of maturity.
For Settlement in instalments Maturity Sum Assured is paid in four equal annual instalments. The first instalment payment starts on the date of maturity.