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| Event |
Maturity/death benefits payable |
Death Benefit
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In case of death before the end of the policy term,
Sum Assured or the value of the units whichever is higher in the Life Assured's unit account, is payable to the nominee.
If policyholder opts Cover plus, the death benefit equal to "Sum Assured + Value of the units" will be paid.
Further, the nominee has an option to utilize the benefit amount to purchase an annuity plan from Shriram Life Insurance Company.
In case of minor lives risk cover starts from the age of 7 years last birth day or after 2 years from the date of commencement of policy, whichever is later.
In case death occurs before commencement of risk the value of units will be paid as death benefit.
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Maturity Benefit
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On surviving up to the end of the policy term,
the value of the units as on date of maturity will be paid to the policyholder.
Further the policyholder has an option to buy immediate annuity from Shriram Life Insurance with the maturity benefit.
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| Condition |
Limit |
| Minimum entry age |
0 years age last birthday |
| Maximum entry age |
50 years age last birthday |
| Maximum maturity age |
75 years age last birthday |
| Policy term |
25 years fixed |
| Premium payment term |
Same as policy term |
| Minimum Sum Assured |
5 × Annualized Premium |
| Maximum sum assured |
Subject to underwriting
considerations. |
| Minimum Annualized premium |
Rs.20, 000/- p.a and no limit for maximum |
| Minimum Installment Premium |
Yearly Rs.20, 000/-
Half Yearly Rs.10, 000/-
Quarterly Rs.5, 500/-
Monthly Rs.2000/-(ECS only)
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