Shriram Life

Growth Plus

ULIP - Insurance cum Investment Plan

A chance to get more than you hope for...

Unit Linked Insurance Plan Details

About ULIP Investment Plan

Shriram Life Growth Plus (UIN: 128L066V03) is a savings oriented unit linked insurance plan which offers both life cover and savings through market linked returns. The plan offers multiple choices in respect of premium payment, fund classes and flexibility of investment. This ULIP Insurance policy can also be taken on other lives, where other lives can be spouse, child and grandchild.


  • Two death benefit options

  • Choice of Premium Paying Term – Single, Limited, Regular

  • Unlimited Switching & Premium Redirection free of cost

  • Loyalty additions

  • Multiple funds and investment strategies to choose from

Maturity Benefit

On Survival of the Life Assured up to the end of the policy term, the fund value will be payable where fund value is total of base premium fund value and Top-up premium fund value (if any).

Death Benefit

In case of death of Life Assured during the policy term,

Option 1
Sum assured plus Top-up sum assured (if any) plus, fund value

Option 2
Higher of:

  • Sum Assured (less partial withdrawals)
  • Base premium fund value


  • Top-up Sum Assured
  • Top-up premium fund value

will be paid to nominee(s)/beneficiary(ies) and the policy will be terminated.



30 Days


60 Years

(Age last birthday)



70 Years

(Age last birthday)


7 times the
annualised premium for Limited and Regular

1.25 times the annualised premium for Single


10 Years


15 – 20 Years



6 Years



Regular – Same as Policy Term


  • Single:
  • Limited:
  • Regular:

Maximum, No Limit, Subject to Board approved underwriting policy.

You Should Know

What are ULIP’s and what you need to know before investing.

What are Unit Linked Insurance Plans?

A Unit-Linked Insurance Plan is essentially a combination of insurance and investment. A portion of the premium paid by the policyholder is utilized to provide insurance coverage to the policyholder and the remaining portion is invested in equity and debt instruments. The aggregate premiums collected by the insurance company is pooled and invested in varying proportions of debt and equity securities in a similar manner to mutual funds based on policy holder’s investment needs and risk appetite.

How does a ULIP work?

  1. A certain amount of premium paid is invested to meet your insurance needs and some amount towards building wealth.
  2. In the initial policy years, a large part of the premium is spent on meeting policy expenses. Post deduction of these expenses, some amount of the premium is invested in life insurance to provide you life cover in case of an unfortunate event and the remaining is invested in different funds for wealth creation.
  3. These funds could be equity, debt or a combination of both depending upon your investment needs and risk appetite.

How to best use ULIP’s ?

  1. It is a long term investment plan; you stand to gain more in case of a longer term.
  2. Understand your life insurance and investment needs well and invest accordingly.
  3. Increase your investment component in the base policy for an additional nominal amount over your regular premium.
  4. Switch your investments from one fund to another in case of change in your risk profile depending on your age, investment objective and time duration.

Things to consider before you buy a ULIP

  1. Factors
    Risk appetite (ability to tolerate a risk), Financial Commitments and Funding Needs are 3 very crucial factors that influence the choice of a ULIP.
  2. Premium payment options
    Single, Limited, Regular are the options available and the option you choose should be in line with your financial capabilities.
  3. Switch flexibility
    Over time as your risk appetite and financial conditions change ULIP’s offer you the flexibility to switch between options.
  4. Limitations, Exclusions & Charges
    Other things to consider are limitations and exclusions on the sum assured in case of death or permanent disability and charges associated because they take away from the value that you get as an investor.


  • Unit Linked Life Insurance products are different from the Traditional Life Insurance products and are subject to the risk factors.

  • The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based
    on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.

  • Shriram Life is only the name of the insurance company and Shriram Life Growth Plus is only the name of the unit linked insurance contract and does not in any way
    indicate the quality of the contract, its future prospects or returns.

  • Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document of the insurer.

  • The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

  • The past performance of the funds of the company is not necessarily an indication of the future performance of any of the funds.

  • 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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