Secure your future with the Shriram Life Assured Income Plus
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FAQs for Shriram Life Assured Income Plus
Why should I buy an Shriram Life Assured Income Plus?
The Shriram Life Assured Income Plus is one of the flagship endowment plans by Shriram Life Insurance Company for those policyholders looking for shorter premium paying terms. It provides you with an assured income after the policy term.
What is the maximum amount of deduction that I can claim under the Shriram Life Assured Income Plus?
Under the Shriram Life Assured Income Plus, you receive assured income plus tax benefits. The premium you pay is eligible for deduction under Section 80C of the Income Tax Act, 1961. The maximum amount of deduction you can claim in a financial year is up to ₹1.5 lakhs.
What is the free-look period in the Shriram Life Assured Income Plus?
After you buy the Shriram Life Assured Income Plus, you will have a period of 15 days to go through the terms and conditions of the policy. If you disagree with any of the terms and conditions, you can return the policy by stating your objections. Your premium will then be refunded after adjusting the proportionate risk cover and the expenses incurred by the company on any medical examinations and other reports.
Can I take out a loan against the Shriram Assured Income Plus?
You can apply for a loan of up to 85% of the surrender value of the Shriram Assured Income Plus. You will have to pay interest on the outstanding loan balance at a rate declared by the company from time to time. The outstanding balance along with the interest amount will be deducted from the policy proceeds before any benefit is paid from the policy.
How will I receive the claim settlement in case of death benefits under the Shriram Life Assured Advantage Plus?
The death benefits under the Shriram Life Assured Advantage Plus will be paid in a lump sum to the nominee or the beneficiary and the policy will then be terminated. However, in case the insured person passes away after the policy term but before the commencement of the instalments, then only the instalments will be paid. There is no lump sum payment option available in this case.
How has the Shriram Life Assured Income Plus been received by policyholders?
The Shriram Life Assured Income Plus review by policyholders has been positive as the policy not only enables them to secure their loved ones financially but also allows them to earn significant savings.