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SHRIRAM LIFE ASSURED INCOME PLAN

Presenting Shriram Life Assured Income Plan (UIN 128N053V04), which assures your family of the Income you have planned for them even in your absence. This plan not only helps you secure your family financially but also provides you assured returns on maturity. With regular income option under this plan you will receive your maturity amount in periodical payments of assured amount to help you fulfil your financial responsibilities and dreams with ease.

KEY FEATURES

  • Choice of Policy Term – 8/10/12/15 years
  • Assured Income benefits after the policy term
  • Higher benefits for higher premiums
  • Higher benefits for higher terms
  • Additional protection through riders

KEY BENEFITS

 

Maturity Benefit #

In case of survival of the life assured up to the end of the policy term and receipt of all the due premiums, the assured income payouts will be paid as scheduled at the start of each year after the end of the policy term during the Benefit Payout Period. However, the policyholder can also opt to receive the maturity benefit in lump sum at the time of proposal. The Lump sum Payout is same as Maturity Sum Assured.

The policyholder can change the option to receive the maturity benefit any time during the policy term, but preferably at least three months before the date of maturity.

If the life assured dies after commencement of the assured income, the outstanding assured income payouts will continue as scheduled to the nominee(s) or beneficiary (ies).

 

Death Benefit #

In case of death of the life assured during the policy term, provided all the due premiums till the date of death have been paid, death sum assured will be paid. The death benefit will be paid to the nominee or beneficiary in any of the following option exercised:

  • Assured Income Payouts.
  • Lump sum Payout.
  • 50% Death benefit as lump sum and remaining 50% as regular payouts i.e. the payouts will be 50% of the original payouts.

ENTRY AGE

Minimum

30 Days^

Maximum

55 Years

(Age last birthday)

MATURITY AGE

Maximum

70 Years

POS & CPSC-SPV Maximum: 65 years

(Age last birthday)

POLICY TERM

8 / 10 / 12 / 15 Years

SUM ASSURED

Minimum

₹ 1.2 Lakhs

Maximum*

No Limit, Subject to Board approved underwriting policy

POS & CPSC-SPV Maximum: Rs. 23,80,952
(subject to Board approved underwriting Policy and maximum Death Sum Assured of Rs. 25,00,000)

ANNUAL PREMIUM

Minimum

₹ 15,000

Maximum*

No Limit, Subject to Board approved underwriting policy

POS & CPSC-SPV Maximum: Rs. 2,97,619
(subject to Board approved underwriting Policy and maximum Death Sum Assured of Rs.25,00,000)

PREMIUM PAYMENT TERM

8 / 10 / 12 / 15 Years

PREMIUM PAYMENT MODE

  • Yearly
  • Half-Yearly
  • Quarterly
  • Monthly

RIDERS (ADD ONS)

You can opt any of the following Riders by paying additional premium. Riders are not allowed for POS and CPSC-SPV.

Accident Benefit Rider (UIN 128B001V03)

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

Shriram Life Critical Illness Plus Rider (UIN 128B016V01)

“If you are diagnosed to be suffering from any of the 24 specified Critical Illnesses, we will pay 100% of the rider Sum Assured on survival of 30 days following the date of first confirmed diagnosis. This rider also gives you an upside of increments in your rider Sum Assured through Loyalty Additions.”

Family Income Benefit Rider (UIN 128B002V03)

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

Shriram Extra Insurance Cover Rider (UIN 128B009V03)

In case of unfortunate event of death of the life assured during the rider cover term, sum assured under rider will be paid to the nominee.

DISCLAIMER

# 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 2021/135

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