Guaranteed Benefits and Protection with Shriram Life Assured Advantage Plus
What Coverages Are Offered in Shriram Life Assured Advantage Plus?
The Shriram Life Assured Advantage Plus provides the following coverage benefits -
Being a life insurance plan, the Shriram Life Assured Advantage Plus allows coverage for premature demise during the policy tenure. If the life insured passes away during the tenure, the Death Sum Assured is paid in the following manner -
- Option I - In a lump sum
- Option II - In annual or monthly instalments as selected. The instalments are paid for 10 years.
Shriram Life Assured Advantage Plus provides a Maturity Sum Assured if the life insured survives the policy tenure. The policyholder can choose to get the maturity benefit in any of the following ways -
- In a lump sum
- In annual instalments for 10 years
- In monthly instalments for 120 months
Accident Benefit Rider
This is an optional rider covering accidental demise and permanent total disablement. The rider sum assured is paid in a lump sum in either of these contingencies. In the case of a disability, the future premiums are also waived.
Family Income Benefit Rider
This is also an optional rider covering accidental demise and disablements. The rider pays the rider sum assured in either of these contingencies in instalments. The instalment payouts happen for 10 years or till the rider's tenure, whichever is later.
Shriram Life Extra Insurance Cover Rider
This rider allows additional coverage for premature demise. If the insured passes away during the policy tenure, the rider sum assured is paid in addition to the Death Sum Assured.
Shriram Life Critical Illness Plus Rider
This optional rider covers 24 critical illnesses. If any covered illness is diagnosed during the rider tenure, the rider sum is paid in a lump sum.