You can set financial goals and get the security of life insurance with a Super Income Plan (SIP), thanks to the flexible term of premium payments. A Super Income Plan's insurance cover can be upgraded for a nominal price. In addition to receiving tax-free maturity benefits, you can claim tax benefits against a Super Income Plan. When the policy reaches maturity, you will receive a payment of five times the annualised premium.
Are you aware that the Shriram Life Super Income Plan provides life insurance to the Policy Holder?
The Shriram Life Super Income Plan is one of the best investment options as it has many incredible benefits with life insurance coverage. It is a fantastic policy for those looking for an insurance plan that helps with long-term investments. Let us explore the features and benefits of the Super Income Plan to understand how it can be beneficial for you.
A Super Income Plan is an insurance policy that offers assured benefits for those who invest in the plan. It can help an individual plan a better future for improved financial stability. An SIP has many features and benefits that cover the policy holder and their family. Often, financial institutes offer additional benefits in the form of rider covers that can be purchased anytime during the premium payment term.
The Shriram Life Super Income Plan is a guaranteed policy for people who need life insurance and an additional source of income post retirement. The premium payment term for this plan stretches from 10 to 25 years, depending on the age of entry.
The flexible tenure allows individuals to select the plan they need according to their financial goals and the age at which they wish to retire. At the end of the premium payment term, you can get a regular income from the plan and additional benefits upon maturity. Under Section 10 (10D) of the Income Tax Act, you will also get tax-free maturity benefits.
Besides the maturity benefit, you can also claim tax-saving benefits under Section 80C of the Income Tax Act. The SIP will provide a regular income to the policy holder till 75 years of age. Life Insurance Cover is available in the plan and additional coverage can be purchased for a nominal amount.
There are certain benefits an individual can get by starting a Super Income Plan. Death benefit, Super Income Benefit and Maturity benefit are the main three advantages of investing in a Super Income Plan. Here is some more information on what the benefits include:
A Shriram Life Super Income Plan will help secure your future financially. The insurance cover and add-ons of the Super Income Plan can protect the whole family. If the policy holder passes away, the nominee or beneficiary will get the death benefits guaranteed by the policy.
Invest in a Shriram Life Super Income Plan to get all these benefits. Ensure that your family is protected from any uncertainties by investing in this plan. You can also get the assured income paid before retirement, which can help provide financial stability.