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Shriram Life Early Cash Plan

Presenting Shriram Life Early Cash Plan (UIN: 128N093V01) is a non-linked participating individual Savings life Insurance Plan, a plan that combines the much-needed life insurance protection with cash bonus assured at minimum 3.5% of Sum Assured, payable throughout the policy term, starting from 1st policy anniversary, minimum assured benefits on maturity, option to accumulate cash bonuses, if declared at compounding rates and many more.

KEY FEATURES

  • Life Cover : Protect your family against financial uncertainties that they might face, should something unfortunate happen to you. For additional protection, choose from the 4 rider options available with this plan..
  • 2 Bonus Options – Early Cash and Super Growth You can choose any of the above two bonus options under this plan. With the Early Cash Option, you can receive cash bonus as annual income throughout the policy term as well as a lump sum at maturity With Super Growth Option you can accumulate cash bonuses till maturity to receive a larger lump sum at maturity. Choose the option that suits your needs the best.
  • Cash Bonus guarantee: For both the options, the cash bonus is guaranteed to be minimum of 3.5% p.a of the Sum Assured throughout the term of the plan
  • Guaranteed Income from 1st Policy Anniversary& :Cash bonus will be declared from 1st policy anniversary till the end of the policy term. This helps you in managing your regular expenses
  • Power of Compounding*: Bonuses are declared on Sum Assured and accumulated Early Cash Bonuses.Terminal Bonus(if declared) too is paid on accrued cash bonuses. This helps you save more towards your major financial goals and counteract the effects of inflation
  • Capital Guarantee*: Your capital (premiums paid) stays protected by way of guaranteed cash bonuses till maturity

KEY BENEFITS

 

Maturity Benefit#

On survival of the life assured to the end of the policy term, provided the policy is in force, Sum Assured along with cash bonuses, accumulated till the date of maturity, if declared, and terminal bonus, if declared will be paid and the policy will be terminated

 

Survival Benefit

With the Early Cash Option, a regular income is paid at the end of every policy year, throughout the policy term, starting from the end of the 1st policy year by way of annual Cash Bonuses if declared. The minimum Cash Bonus payable is guaranteed at 3.5% of the Sum Assured p.a. This benefit is not available if the policyholder chooses the Super Growth option.

 

Death Benefit#

In case of death of the life assured during the policy term, provided the policy is in force, an amount equal to “Death Sum Assured” along with cash bonuses accumulated till the date of death if declared, and terminal bonus, if declared will be paid in lump sum to the nominee (s) or beneficiary (ies) and the policy will be terminated.

 

“Death Sum Assured” is defined as highest of

 
  • 10 times the Annualized Premium for age up to 50 years / 7 times the Annualized Premium for age above 50 years
  • 105% of Total Premiums Paid till the date of death
Where
  • "Annualized premium" means the premium payable in a year chosen by the policyholder excluding the taxes, underwriting extra premiums, rider premiums, and loadings for modal premiums, if any.
  • "Total Premiums Paid" means the total of all the premiums received, excluding any extra premium, any rider premium, and taxes

Eligibility

ENTRY AGE

Minimum

3 Years

Maximum

55 Years

(Age last birthday)

MATURITY AGE

Minimum

18 Years

Maximum

70 Years

(Age last birthday)

SUM ASSURED

Minimum

1,50,000 Lakhs

Maximum*

No Limit Lakhs

Subject to Board approved underwriting policy

POLICY AND CORRESPONDING PREMIUM PAYMENT TERM (Yrs)

10 Years

12 Years

15 Years

6 Years

6,8,10 Years

8,10,15 Years

 

PREMIUM PAYMENT MODE

  • Yearly
  • Half Yearly
  • Quarterly
  • Monthly

RIDERS (Add Ons)

You can opt any of the following Riders by paying additional premium.

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.

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.

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

more

Disclaimers:

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

&With Early Cash Option

*With Super Growth option, provided all due premiums are paid and policy is in force on maturity

Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details

In case of minor lives assured, the risk cover starts from the 1st policy anniversary or at the age of attaining 18 years last birthday whichever is earlier.

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

SHRIRAM LIFE INSURANCE COMPANY LIMITED

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/May 2022/10