Shriram Life Wealth Plus Plan (UIN: 128L036V03)

This is the primary benefit under the Shriram Life Wealth Plus Plan whereby in case of the demise of the insured person, the nominees or beneficiaries of the insured person will receive the sum assured along with the top-up sum assured. In case of demise of the minor life, that is insured under this policy, within 1st policy year, the total fund value will be paid to the policy holder and the policy will get terminated. Furthermore, any partial withdrawals made during the 2 years immediately preceding the demise of the insured person will be reduced from the death benefits.

If the insured person survives the policy term, then they become eligible for the maturity benefits. The maturity benefits will be equal to the fund value which is the total of the base premium fund and top-up premium fund. A base premium fund is a fund built up from the base premiums whereas a top-up premium fund is a fund built up from the top-up premiums.

The income tax law provides deductions from the total earning for the premiums paid in insurance and savings plans. This encourages the taxpayers to make more savings and buy insurance for their protection. Premiums paid under the Shriram Life Wealth Plus Plan are eligible for deduction from your income as per the current provisions of the income tax law.