Shriram Life -

Assured Income Plus

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Plan Details

About 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.

Key Features

  • 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 is an Endowment Plan?

An Endowment plan offers the policy holder the dual benefit of protection and savings. These plans are most suitable for those individuals who do not want to risk their investments in market-linked returns. Endowment plans provide a death benefit and a maturity benefit.

In case of the policyholder’s death, the payout, along with bonuses or guaranteed additions, if any, goes to the beneficiary. The bonus usually depends on the number of years of the policy term that the policyholder has lived.

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. You 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. Property
  4. Fixed-interest investments

Risks associated with Endowment Plans –

Endowment options are minimum risk investments and usually guarantee payback. The investment with profit 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, some of the bonuses might be clawed back through a special charge (called the Market Value Reduction, MVR, or Market Value Adjustment, MVA).

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.

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 loan against the policy – usually without having to secure the loan against a collateral.
  4. Endowment plans declare a bonus every year. The bonus is typically given out as a certain percentage of the sum assured.


  • 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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