Shriram Life

Assured Advantage Plus


Preparing you for the uncertainties of life...

About Plan

Shriram Life Assured Advantage Plus (UIN-128N084V01) 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.
With Shriram Life Assured Advantage Plus we bring to you the convenience of hassle free online buying experience.

Key Features


  • Pay premium only once.

  • Life Insurance for 10 years.

  • Guaranteed returns after 10 years.

  • 3 Maturity benefit options.

  • Tax benefits as per tax laws.

  • Higher maturity benefits for higher premium policies.

ENTRY AGE

Minimum

Maximum

Option 1

Option 2

8 Yrs

8 Yrs

40 Yrs

60 Yrs

PLAN OPTION

Option 1

Option 2

10 X Single Premium

1.25 X Single Premium

POLICY TERM

10 Yrs

MINIMUM BASIC SUM ASSURED

Option 1

Option 2

Rs. 5,00,000

Rs. 62,500

MINIMUM PREMIUM

Rs. 50,000

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

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 1 or Option 2)

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 is paid immediately to the nominee(s) or beneficiaries and the plan terminates. The death benefit shall be paid in lump sum only.

“Death Sum Assured” is defined as highest of

  • Absolute amount assured to be paid on death
  • 1.25 times the Single Premium for ages less than 45 years and 1.10 times the Single Premium for ages 45 years and above
  • 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

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

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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