A Non-Linked Non-Participating Individual Life Insurance Savings Plan


Life is beautiful when we share it with our loved ones, creating happy memories every day. However, in a world full of uncertainties, we need to be financially prepared for our life goals to ensure that they are met, whether we are there or not. Major life goals need solid plans.Shriram Life Premier Assured Benefit gives your Life Goals the advantage of guarantee* so that you continue to live life to the fullest, come what may. With two life cover options and three ways to receive pay-outs, this plan combines life insurance with guaranteed* returns. Choose a pay-out option according to your current financial goals and rest assured that you would be able to change pay-out options, as and when your life goal changes.


  • Guaranteed* Benefits with attractive returns
  • 2 Life Cover options – Life & Life Plus
  • 3 ways to receive benefit pay out – Income, Settlement in Instalment & Settlement in Lump Sum
  • Flexibility – change pay out options any time before payout starts
  • Life Plus Option for additional protection – get maturity/income benefits paid as scheduled along with sum assured on death or take discounted value of entire benefit in lump sum
  • Single pay option where guaranteed cash pay-out can start from 1st policy anniversary with income option
  • Short PPTs - Single, 6/8/10 years
  • Min Policy Term of 10 years and maximum of 20 years
  • Higher benefits for higher premium
  • Enhanced protection with 4 optional riders


  • Life: With this option, Death Sum Assured is paid to your family in lump sum immediately in case of anything unfortunate happening to you.
  • Life Plus: With this option, Death Sum Assured is paid to your family in equal monthly installments starting from the month of death till the end of the policy term or subject to a minimum of 36 instalments in case of any unfortunate event.


  • Income Option: Regular Annual Income payouts as a percentage of annualised premium are paid as survival benefits on each policy anniversary following the end of the premium payment term and continue till the last policy year. At the end of the policy term, the maturity sum assured is paid in a lump sum.
  • This helps create a second stream of income soon after the premium paying term. Your planned recurring expenses can be taken care of by regular income payouts. While the lump sum on maturity can be used to fund your major financial goals like starting a new business or building an emergency fund. Life cover is available throughout the pay-out period.
  • Settlement Option: Settlement in Instalments: Maturity benefit is paid in four equal annual instalments starting from the date of maturity. This can be used to meet the planned expenses for a specific period like child’s higher education.
  • Settlement in lump sum: If the life assured opts to take the maturity benefit in a lump sum, then the discounted value of instalments at the rate as approved by IRDAI will be paid in a lump sum on the date of maturity. This option is suitable for meeting major financial commitments like buying a house or building a retirement corpus.



Survival Benefits

For the Income Option:

Annual payouts as a percentage of the annualised/single premium (as per the below table) are paid from the policy anniversary after the end of the premium paying term (1st policy anniversary for Single Pay) till the end of the policy term.

PPT 1 6 8 10
Payout as % of annualised / Single premium 4.25% 25% 45% 70%

This benefit is not available if the policyholder chooses Settlement option.


Maturity Benefit

On survival of the life assured up to the end of the policy term, provided the policy is in force, the maturity sum assured is paid as follow –

  1. For Income/ Settlement in Lump Sum: Maturity Sum Assured is paid in a lump sum on the date of maturity.

  2. For Settlement in instalment:Maturity Sum Assured is paid in four equal annual instalments. The first instalment payment starts on the date of maturity.

Maturity Sum assured =Maturity Benefit factor X - Annualised premium / Single Premium

The maturity benefit factor varies depending on the type of cover option, benefit variant, age at entry of life assured, and premium paying term.


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 to the nominee or beneficiary as follow –

Life Option:

The death benefit is paid immediately in a lump sum and the policy will be terminated.

Life plus Option

he death benefit is paid in equal monthly instalments starting from the end of the month of death till the end of the policy term or a minimum of 36 monthly installments. The payouts of the death benefit may go beyond the policy term for up to 36 months. In addition to the above death benefit, any income/settlement/lump sum benefits due from the date of death will continue to be paid as per the chosen pay-out option as if the life assured were alive and the policy will be terminated on payment of the last payout.

However, the nominee has the option to take all the above benefits in a lump sum. The lump-sum benefit is determined by discounting all the death/income/maturity benefits at a rate as approved by IRDAI.


“Death Sum Assured” is defined as the highest of;

  1. 11 times the Annualized Premium for Limited Pay / 1.25 times the Single Premium for single pay

  2. 105% of Total Premiums Paid till the date of death.

Where –

  • “Death Sum Assured” shall not be less than the surrender value.
  • “Annualised 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.
  • "Single Premium"means the premium amount payable once chosen by the policyholder excluding the taxes, rider premiums, underwriting extra premiums, and loadings for modal premiums if any.




30 days ^


50 Years

(Age last birthday)



18 Years


70 Years

Maximum(For POS & CSC)

65 Years

(Age last birthday)



  • Yearly - Rs. 60,000

  • HalfYearly - Rs. 30,000

  • Quaterly - Rs. 15,000

  • Monthly - Rs. 6,000

  • Single Pay - Rs. 3,00,000


No Limit, Subject to Board approved underwriting policy.


Maximum(For POS & CSC)

Life Option:

  • Limited Pay - Rs. 2,27,272

  • Single Pay - Rs. 20,00,000

Life Plus Option:

  • Limited Pay - Rs.2,54,508

  • Single Pay - Rs. 14,20,242

(subject to Board approved underwriting policy and maximum Death Sum Assured of Rs. 25,00,000 For Single Pay)


  • For Policy Term of 10 years: 6 years and Single Pay
  • For Policy Term of 12 years: 6 years
  • For Policy Term 15 to 20 years: 6,8,10 years


  • Yearly
  • Half Yearly
  • Quarterly
  • Monthly
  • Single

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.



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

^Guaranteed returns in the form of a lump sum or regular income, provided all the premiums are paid

#during the premium paying term

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.

IRDAI Regn No. 128
CIN: U66010TG2005PLC045616


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/Oct 2022/104