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Shriram Life Growth Plus

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.

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. The policy can also be taken on other lives, where other lives can be spouse, child and grandchild.

KEY FEATURES

  • Two death benefit options
  • Unlimited Switching & Premium Redirection free of cost
  • Loyalty additions
  • Choice of Premium Paying Term – Single, Limited, Regular
  • Additional protection through Riders
  • Multiple funds and investment strategies to choose from

KEY BENEFITS

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

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

Higher of:

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

Plus

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

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

Eligibility

ENTRY AGE

Minimum

3 Days ^

Maximum

60 Years

(Age last birthday)

MATURITY AGE

Minimum

18 Years

Maximum

70 Years

(Age last birthday)

POLICY TERM

10, 15 to 20 Years

PREMIUM PAYMENT TERM

Regular

Same as policy term

Limited

6 Years

 

Single

Single

PREMIUM

Minimum

Single

₹ 50,000 for term 10 years

₹ 2,00,000 for term 15 years and above

Limited

Yearly: ₹ 60,000

Monthly: ₹ 6,000

Regular

Yearly: ₹ 30,000

Monthly: ₹ 3,500

Maximum

No limit, subject to Board approved underwriting policy.

MINIMUM SUM ASSURED

Regular

₹ 2,10,000

Limited

₹ 4,20,000

 

Single

₹ 62,500

ENTRY AGE

No Limit, subject to Board approved underwriting policy

RIDERS (Add Ons)

Shriram Accidental Death & Disability Rider (UIN – 128A012V01)

Shriram Accidental Death & Disability Income Rider (UIN – 128A013V01)

Shriram
Critical Illness Care Rider
(UIN – 128A014V01)

more

Disclaimers:

  1. Unit Linked life insurance products are different from traditional life insurance products and are subject to the market risk factors.

  2. 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 the fund and factors influencing the capital market and the insured is responsible for his / her decisions.

  3. Shriram Life is only the name of the Life 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 plan, its future prospects or returns.

  4. Please know the associated risks and the applicable charges, from your insurance agent or the intermediary or policy document issued by the insurance company.

  5. 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 or returns.

  6. The past performance of the fund options is not indicative of future performance of these funds.

#Provided all the premiums are paid and the policy is in force.

^Risk cover starts from date of commencement of policy for all lives including minors. In case of a minor life, the policy will vest in the Life Assured on attainment of age 18 years.

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

IRDAI Regn No. 128
CIN: U66010TG2005PLC045616

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRADULENT OFFERS

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”

ARN: SLIC/Elec/Dec 2020/37