ABOUT PLAN

Shriram New Shri Life Plan (UIN-128N047V01) is a non-linked participating endowment plan. Besides being a systematic savings option, the plan acts as a reliable protection tool to your family in the event of an accident/calamity. The potential upside of reversionary bonuses accumulated into your life cover year after year and the maturity benefit add value to the Plan.

KEY FEATURES

  • Life cover and reversionary bonuses.

  • Limited, Regular and Advanced premiun(at discount) pay options.

  • Attractive sum, assured rebates.

  • Tax benefits as per tax laws.

  • Option to receive benefits in installments with the addition of interest.

  • Additional protection through riders.

KEY BENEFITS

Maturity Benefits

In case of survival of the life assured, up to the end of the policy term and provided all due premiums have been paid, the sum assured including accrued reversionary bonuses and terminal bonus (if any) will be paid. Sum Assured 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.

Death Benefits

In case of death of the life assured, during the policy term and provided all the due premiums have been paid, till the date of death the sum assured on death including accrued reversionary bonuses (if any) and terminal bonus (if any) will be paid to the nominee or beneficiary.

However, the Death benefit will be at least 105% of all the premiums paid, excluding any extra, rider premium and taxes.

Eligibility

ENTRY AGE

Minumum

30 Days

Maximum

65 Yrs

(As on last birthday)

MATURITY AGE

Minumum

18 Years

Maximum

75 Yrs

SUM ASSURED

Minumum

50,000

Maximum

*Subject to underwriting considerations as per Board approved underwriting policy.

PREMIUM AND CORRESPONDING POLICY PAYMENT TERM (Yrs)

10

15

20

25

7, 10

5, 7, 10, 15

5, 7, 10, 20

5, 7, 10, 15, 25

PREMIUM PAYMENT MODE

  • Yearly
  • Half yearly
  • Quarterly

RIDERS (ADD ON’S)

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.

More

MORE

Disclaimer

  • For more details on the risk factors , terms and conditions please read the sales brochure and/ or sample policy document on our website carefully, and/ or consult our advisor.

  • Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.

Policy
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