Shriram Life

Assured Advantage Plus


For a Better Tomorrow !!

About Plan

Shriram Life Assured Advantage Plus (UIN-128N084V02) is an Endowment Plan that provides you guaranteed returns along with a life insurance cover. This is a single premium plan where you have to pay premium once and remain covered for 10 years.
Savings are essential for a stress free future, and if invested correctly in guaranteed plans, you and your loved ones are protected from the uncertainties of life.

Key Features


  • Pay premium only once.

  • Guaranteed returns after 10 years.

  • Additional protection through Riders.

  • Life Insurance for 10 years.

  • 3 Maturity benefit options.

  • Higher maturity benefits for higher premium policies.

PLAN OPTION

Option I

Option II

10 X Single Premium

1.25 X Single Premium

ENTRY AGE

Minimum

Maximum

Option I

Option II

8 Yrs

8 Yrs

40 Yrs

60 Yrs

POLICY TERM

10 Yrs

PREMIUM

50,000

Maximum – No limit
Subject to underwriting considerations as per board approved underwriting policy.

MINIMUM BASIC SUM ASSURED

Option I

Option II

5,00,000

62,500

MATURITY BENEFIT PAYOUT OPTIONS

  • Lump Sum
  • 10 Annual Payouts
  • 120 Monthly Payouts

STEP 1

Buy Term Insurance Online - Step 1
Decide the single
premium you wish to pay

STEP 2

Buy Term Insurance Online - Step 2
Choose a plan option
(Option I or Option II)

STEP 3

Buy Term Insurance Online - Step 3
Identify how you want to
receive the maturity benefit
(Can also be changed later)

STEP 4

Buy Term Insurance Online - Step 3
Buy the plan using the
‘Get a quote’ option

For more information click below to download

Key Benefits

Maturity Benefit

The policy holder has the option to choose from the following 3 maturity benefit options;

  • Annual Payout – in this case the annual instalments equal to 10% of (Single Premium multiplied by the Maturity Benefit Factor) will be paid for next 10 years starting from the date of maturity.

  • Monthly Payout – in this case the monthly instalments equal to 0.862% of (Single Premium Multiplied by the Maturity Benefit Factor) will be paid for next 120 months starting from the date of maturity.

  • Lump Sum Payout – the Guaranteed Maturity Sum Assured equal to discounted value of instalments using interest rate of 7.75% p.a. which is same as 73.12% of (Single Premium Multiplied by the Maturity Benefit Factor) will be paid on the date of maturity.

Death Benefit

For death during Policy Term, Death Sum Assured will be paid in lump sum to the nominee(s) or beneficiary (ies) and the policy will be terminated.

“Death Sum Assured” is defined as highest of

  • Basic Sum Assured
  • Guaranteed Maturity Sum Assured

Note:

  • If the life assured dies after commencement of the instalments, the outstanding annual/monthly instalments (i.e. from the date of death to the last instalment to be paid) will continue to be paid to the nominee(s) or beneficiary (ies).

  • Please read the policy document and the product brochure for more details.

Riders

You can opt any of the following Riders by paying additional premium. The riders can be opted at the inception of the policy only.

Accident Benefit Rider (UIN 128B001V03)


In case of death or total and permanent disability due to accident during the rider term, we will pay 100% of the rider sum assured.

Family Income Benefit Rider (UIN 128B002V03)


In the event of accidental death or if the life assured becomes totally and permanently disabled due to an accident within the rider term, 1% of rider sum assured is payable every month immediately from the end of month of accident for a guaranteed period of 10 years or till the end of the rider term whichever is higher.

Shriram Extra Insurance Cover Rider (UIN 128B009V03)


In case of death of the life assured during the rider cover term, sum assured under rider will be paid to the nominee.

Shriram Critical Illness Cover Rider (UIN 128B010V03)


If you are diagnosed to be suffering from any of the 6 specified Critical Illnesses, we will pay 100% of the rider Sum Assured on survival of 30 days following the date of first instance of confirmed diagnosis.

Disclaimer:

  • 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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