Shriram Life

Golden Premier Saver Plan


Aapki kalpana aur hamara sahara.

About the Plan

Shriram Life presents Shriram Life Golden Premier Saver Plan (128N088V02), specially designed to combine protection with savings while giving you the options to customise.

  • Protect your family – Life cover for chosen policy term
  • Grow your Savings – Assured Benefit on maturity along with bonus*
  • Additional benefits – Get another assured sum assured through extended cover benefits*

* Provided the policy is in force and all due premiums have been paid

Key Features

  • Life cover for chosen policy term with an assured lump sum paid on maturity

  • Option to choose the extended life cover till the age of 80 years, wherein additional sum assured is paid on survival up to 80 years of age#

  • Premium discount on a higher sum assured

  • Additional rewards in the form of bonus* with the assurance of at least 4% of Sum Assured in each of the first 5 policy years

  • Minimum premium paying term –
    5 years

  • Option to choose the way you receive the maturity benefit– Lump sum or Income plus Lump sum

  • Enhancement of life cover through Riders

* If any | # on payment of additional premium

Key Benefits

Maturity Benefit

  • Lump-sum Option:
    In case of survival of the life assured till the end of the policy term provided the policy is in force, “Guaranteed Maturity Sum Assured” along with the accrued bonus (if any) and terminal bonus (if any) will be paid, provided all due premiums have been paid.

  • Income plus Lump sum Option:
    Income benefit equal to 10% of the sum assured shall be paid annually at the end of each of the last five policy years provided the policy is in force.
    In case of survival of the life assured till the end of the policy term, the lump sum benefit equal to 50% of the “Guaranteed Maturity Sum Assured” along with the accrued bonus (if any) and terminal bonus (if any) shall be paid.

  • Extended Cover Benefit:
    By choosing this option and paying the additional premiums, in addition to the benefits mentioned above, the policyholder will get life insurance cover for an extended term (i.e. the period from the date of maturity to the date on which the life assured attains the age of 80 years). In case of death of the life assured during the extended cover term or on survival up to end of extended cover term, one sum assured will be paid and the policy will be terminated.

  • The extended cover benefit cannot be surrendered individually.

Death Benefit

In case of death of the life assured during the policy term provided the policy is in force, “Death Sum Assured” along with the accrued bonus, (if any) and terminal bonus, if any, will be paid in lump sum to the nominee (s) or beneficiary (ies).
“Death Sum Assured” is defined as highest of the following –

  • Absolute amount assured to be paid on death

  • 10 times the annualised premium

  • 105% of All Premiums Paid till the date of death

  • Guaranteed Maturity Sum Assured

Where
“Absolute amount assured to be paid on death” is the ‘Sum Assured’ which is chosen by the policy holder excluding underwriting extra premiums, rider premiums and loadings for modal premiums, if any.

‘All Premiums Paid’ is the total of all premiums paid till the date of death excluding any extra premiums, any rider premiums, revival and taxes.

“Guaranteed Maturity Sum Assured” is the ‘Sum Assured’ which is chosen by the policyholder at the time of proposal.
For Income plus Lump-sum Option, Income benefits that have already been paid shall not be deducted from the death proceeds.
Apart from the benefits mentioned above, this plan offers an additional benefit –

For more details and exact definitions please refer to the sales brochure.

ENTRY AGE

Minimum

0 Yrs*

Maximum

60 Yrs**

(* 20 years in case of extended Cover Option)
(** 50 years of age for 5 years of Premium Paying Term )

MATURITY AGE

Minimum

18 Yrs

Maximum

75 Yrs

(As on last birthday)

PREMIUM PAYMENT MODE

  • Yearly
  • Half Yearly
  • Quaterly
  • Monthly

POLICY TERM

10 / 13 / 15 to 25Yrs

(Premium Paying Term + 5 years)

PREMIUM PAYING TERM

Premium Paying Term

5 / 8 / 10 to 20Yrs

(Policy Term minus 5)

Age Eligibility
For Policy term 10 – 0 to 50 Years of age
For other Policy Terms – 0 to 60 Years of age

SUM ASSURED

Minimum

₹ 2 lakhs

Maximum

No Limit*

(*Subject to Underwriting Guidelines as per Board Approved Underwriting Policy)

PREMIUM

Minimum (₹)
Premium Paying Term Premium Amount
5 Years ₹ 44,232*
8 Years ₹ 27,564*
10 – 20 Years ₹ 10,296*
Maximum (₹)
No Limit**

*Annualised Premium
(**Subject to Underwriting Guidelines as per Board Approved Underwriting Policy)

RIDERS (Add Ons)

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

Accident Benefit Rider (UIN 128B001V03)


In case of death or total and permanent disability due to accident during the rider term, 100% of the rider sum assured will be paid. Also, if the life assured becomes totally and permanently disabled in an accident, all the future premiums under the base plan shall be waived off. The benefit under this rider is applicable only once during the rider term.

Shriram Critical Illness Cover Rider (UIN 128B010V03)


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

Family Income Benefit Rider (UIN 128B002V03)


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

Extra Insurance Cover Rider (UIN 128B009V03)


In case of unfortunate event of the death of the life assured during the rider cover term, sum assured under the rider is payable to the nominee.

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* Terms and Conditions Apply