Shriram New Shri Vidya (UIN: 128N051V02)
Shriram New Shri Vidya
Shriram New Shri Vidya (UIN: 128N051V02) A Non-Linked Participating Life Insurance Individual Savings Plan. Your child’s future is the most important concern for you. With the soaring educational expenses in today’s life, giving good education will be tough unless it is planned. We have Shriram New Shri Vidya plan designed for you to make your child’s aspirations come true. The plan offers survival benefits to adjust according to your child’s education requirements and also insurance cover in case of any unfortunate event happens to you.
Features
Reversionary Bonuses to enhance your savings and life cover
Sum assured plus stream of monthly income on death to offset monetary losses
Additional sum assured to suit your child’s educational requirements
Attractive high sum assured rebates
Additional protection through riders
Benefits
Terminal Bonus
The Company may pay a Terminal Bonus on death or maturity. The Terminal Bonus will be declared based on the underlying experience of the participating fund and asset shares of the policies. To enjoy maximum benefits and receive all the bonuses it is advisable to pay all the premiums for the full premium paying term.
Reversionary Bonuses
Reversionary Bonuses
Death Benefit
In case of death of the life assured during the policy term, provided all the due premiums have been paid, the following benefits are paid to the nominee or beneficiary.
1. Sum assured on death
2. Accrued Reversionary Bonuses plus Terminal Bonus, if any, immediately on death. Sum assured on death shall be higher of
• 10 times the annual premium if age is less than 45 years and 7 times the annual premium if age is 45 years and above.
• basic sum assured plus additional death benefit
Eligibility
Eligibility Conditions | Limit | ||||
Age at entry | Minimum: 18 years (age last birthday) | ||||
Maturity age | Minimum: 28 years (age last birthday) | ||||
Policy Term | 10 | 15 | 20 | 25 | |
Premium Paying Term | 10 | 8, 10,15 | 20 | 25 | |
Sum Assured | Minimum: Rs. 1,00,000 | ||||
Minimum Annualised Premium | Rs. 8,000 | ||||
Mode of Premium Payment | Yearly, Half- Yearly, Quarterly, Monthly | ||||