Shriram Life Assured Savings Plan Your Savings Plan for a Stress-Free Future

Shriram Life Assured Savings Plan

Shriram Life Assured Savings Plan
A Non-linked Non-Participating Life Insurance Individual Savings Plan

UIN 128N089V05

As we get older, our responsibilities increase; responsibilities towards our elderly parents, spouse and children. We go from being dependents to having dependents of our own, and it is our responsibility to take care of them. But what would happen to them in our absence?
Life Insurance is the tool that will make sure your family is taken care of in your absence. Presenting Shriram Life Assured Savings Plan, which helps build your savings while ensuring your family is taken care of financially, even in your absence – and all of that is available without any medicals.#

Features and Benefits of the Shriram Life Assured Savings Plan

Life cover without medicals

Life cover and Returns, Fully Assured Upfront

Higher maturity benefit for higher premiums (as high as 160%* of TPP)

Double Cover on Accidental Death with Option 2

Flexibility to change policy term and premium Payment Term

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Eligibility and Documents Required for Shriram Life Assured Savings Plan

Eligibility Criteria	Limits
Plan Options	Option 1: Life Cover Option 2: Life Cover with in-built Accidental Death Benefit
Entry Age	Minimum:3 years (age last birthday) Maximum: 55 years (age last birthday)
Maturity Age	Minimum: 18 years (age last birthday) Maximum: 65 years (age last birthday)
Policy Term (PT)	7,10 & 15 years
Premium Paying Term (PPT)	Regular –Equal to Policy Term Limited – For Policy Term of 7 years : 5 years For Policy Term of 10 years : 5,8 years For Policy Term of 15 years : 8, 10 years
Premium Payment Mode	Yearly / Half Yearly / Quarterly / Monthly
Min Premium	Yearly - 8,000 Half Yearly – 4,500 Quarterly - 2,500 Monthly – 1,000
Basic Sum Assured	Minimum: ₹ 40,000 Maximum: No Limit, Subject to Board approved underwriting policy For POS – 20,70,390, Subject to Board approved underwriting policy and maximum Death Sum Assured of ₹ 25,00,000

How does the plan work?

Choose the amount you can set aside regularly towards your life insurance cover and your financial goal. This will be your premium
Choose the plan option based on your life insurance cover needs. Benefits will vary depending upon the option chosen.
Decide how frequently and for how long you wish to pay your premiums. You can pay your premiums in yearly, half-yearly, quarterly or monthly frequencies. You can continue to pay your premiums for 5, 8, 10 or 15 years.
Choose your policy term depending on when you need your savings to fund your financial goal. You also get life insurance protection for this period.
What's more, the plan offers you unmatched flexibilities – think you can save for longer or need access to your money sooner? We understand that your needs may change after buying the policy and hence, we allow you to change your Premium Payment Term and Policy Term during the duration of the policy any number of times and absolutely free of charge. Your maturity benefit will correspond to the revised Policy Term and Premium Payment Term.
On maturity, you will get a lump sum benefit which depends on premium, premium size, age of the life assured, plan option, Premium Payment Term and Policy Term.
Life cover is available throughout the policy term to protect your family.

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Additional Protection through Riders

Life Insurance is all about financially protecting your loved ones against anything unfortunate happening to you. As each of us has different lifestyles, our need for protection is different. We understand that and therefore bring you a choice of 5 riders protecting you against different kinds of risks. You can opt for the following Riders by paying an additional premium.

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Accident Benefit Rider (UIN 128B001V03)

In case of death or total and permanent disability due to an 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.

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 the rider sum assured is payable every month immediately from the end of the month of the 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 death of the life assured during the rider cover term, the sum assured under the rider will be paid to the nominee(s) or beneficiary (ies).

Shriram Critical Illness Plus Rider (UIN 128B016V02)

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 to 30 days following the date of the first instance of confirmed diagnosis.

Shriram life Critical Illness Woman rider (UIN 128B032V01)

The critical illness woman rider ensures financial security tailored to women’s health needs. The Base cover provides protection against 29 critical illnesses covering major and minor female specific critical illnesses. The add on benefit i.e Maternity Wellness Coverage offers protection against pregnancy complications and birth of child & congenital disorders. The premium for this optional benefit has to be paid additionally over and above base cover rider premium. Policy term for PC & BCCD option can be less than or equal to the policy term chosen for the base option. It provides cover for one childbirth.

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Downloads

At Shriram Life, we strive to make our customers' experience as smooth and convenient as possible. To this end, all our policy-related documents are readily accessible online through our website at www.shriramlife.com. Simply navigate to the download section of the policy page to access and download the policy document, prospectus and presentation at your convenience.

Prospectus

Presentation

Policy document

Shriram Life Assured Savings Plan