Shriram Life

Assured Income Plus

Endowment Plan

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Investment Plan Details

About Endowment Plan

Shriram Life Assured Income Plus (UIN: 128N060V02) is a non-linked non-participating endowment assurance plan. This plan caters to customers who wish to invest only for a minimum fixed duration and reap predetermined annual benefits even after maturity.

Why SLIC’s Investment Plan

  • Guaranteed Benefits

  • Tax Benefits as applicable

  • Sum assured Upto 10 times the annual premium

  • Premium payment for a limited duration



8 Yrs


60 Yrs

(As on last birthday)



70 Yrs

(As on last birthday)



Rs. 1.5 Lakh


Rs. 5 Crore

(Rs. 3 Lakhs depending on Age)
(subject to underwriting policy)


10 Yrs


5 Yrs



Rs. 20,000


Rs. 65.10 Lakhs

(subject to underwriting policy)

You Should Know

What you should know before buying an Endowment Plan

What are Endowment Plans –

Endowment plans are insurance plans where you receive life insurance cover during the policy term and on maturity you receive the proceeds from the policy. Endowment Plans can be categorised under three broad categories.

  • Traditional – Non Participating Endowment Plan, also known as Guaranteed Endowment Plans
  • Traditional – Participating Endowment Plan, part of the benefits are guaranteed and part of the benefits are accumulated through bonuses
  • Unit Linked Plans Endowment Plan, benefits are market linked and are based on the performance of investment funds

What is a Guaranteed Endowment Plan?

A Guaranteed Endowment plan is a combination of life insurance and maturity benefits where all the benefits are guaranteed upfront. These savings plans are most suitable for those individuals who do not want to risk their investments through market-linked instruments.

In case of the policyholder’s death, the payout, along with guaranteed additions, if any, goes to the beneficiary.

Risks associated with Endowment Plans –

Traditional Endowment Plans (Non Linked) are risk free savings and usually, guarantee payback. The Participating options are designed to grow steadily as bonuses are added. Usually bonuses, once added, can’t be taken away. But if you cash in your policy before the end of the term, entire accrued bonuses may not be available at the time of surrender.

ULIP’s, also a type of endowment plan, on the other hand, are high risk investments. Growth depends on the performance of the funds you choose. By choosing diverse funds, you can weather the ups and downs of the market better.

How do Endowment Plans work?

A part of the premium paid by you is invested either on a with-profits basis or a unit-linked basis. Your premium amount depends on your age, sex, and how long the endowment is for.

The size of the lump sum you get at the end of your endowment often depends on the performance of these investments.

This means your savings are pooled together and invested by the insurance company in various investment options, typically;

  2. Mutual funds
  3. Bonds
  4. Fixed-interest investments

Benefits of Endowment Plans –

  1. Encourages a disciplined approach to savings because policyholders are expected to set aside a predetermined amount as premium at a stipulated time-interval.
  2. The plan offers Tax benefits under section 80C and 10 (10D) of the Income Tax Act.
  3. In case of emergency, policyholders can obtain a loan against the policy – usually without having to secure the loan against a collateral.


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

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

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