Guaranteed Benefits and Protection with Shriram Life Assured Advantage Plus
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Premium Components of Shriram Life Assured Advantage Plus
The Shriram Life Assured Advantage Plus is a savings-oriented life insurance plan that provides insurance coverage and also creates a secured corpus. Moreover, there are four optional riders for wider coverage. Thus, the Shriram Life Assured Advantage Plus premium consists of three main components discussed below -
Risk Coverage
The Shriram Life Assured Advantage Plus covers the risk of premature demise for 10 years. This coverage requires the risk premium which covers the cost of mortality risk that the insurance company undertakes.
Savings Element
If the insured survives the policy tenure and the plan matures, the Maturity Sum Assured is paid which is a corpus. To create this corpus, an additional premium is paid which forms a part of the overall premium payable for the Shriram Life Assured Advantage Plus.
Rider Component
The Shriram Life Assured Advantage Plus gives four optional riders for enhanced coverage. Each rider has a corresponding additional premium. If you choose any rider, the additional premium is added to the overall premium for the policy and the premium cost goes up.