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Assured Savings Plan
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FAQ's related to Shriram Assured Savings Plan

What is the Shriram Life Assured Savings Plan?

Shriram Life Assured Savings Plan is a life insurance policy that provides savings and financial security to your family in your absence. It also provides life coverage without any medical examination and advanced protection through riders.

Can I buy the Shriram Life Assured Savings Plan online?

You can buy the Shriram Life Assured Savings Plan online in just a few simple steps.

What are the benefits of the Shriram Life Assured Savings Plan?

The Shriram Life Assured Savings Plan provides a death benefit, maturity benefit, paid-up death and maturity benefit, surrender value and loans. It also provides flexibility to alter the policy terms and premium payment mode.

What is the death benefit in Shriram Life Assured Savings Plan?

The death benefit depends on the plan option chosen and is paid either as one “Death Sum Assured” or 100% of total premiums paid to date under the Shriram Life Assured Savings Plan.

What is the maturity benefit of Shriram Life Assured Savings Plan?

The maturity benefit of Shriram Life Assured Savings Plan - Guaranteed Maturity Sum Assured is payable in a lump sum if the policy holder survives until the end of the policy term.

Can I change my policy terms and premium payment during the policy duration?

You can change your policy terms and premium payment mode during the policy duration, free of charge.

What is the coverage provided by Shriram Life Assured Savings Plan?

The Shriram Life Assured Savings Plan covers death benefits, maturity benefits, and paid-up death and maturity benefit. It also provides life insurance coverage throughout the policy term and protection against accidental demise.

What is the maximum maturity provided in the Shriram Life Assured Savings Plan?

The Shriram Life Assured Savings Plan provides a maximum maturity benefit of 174% for higher premiums.

Is there any limit on the number of alterations that can be made to the Shriram Life Assured Savings Plan?

There is no restriction on the number of alterations that can be made to the Shriram Life Assured Savings Plan.

Can I get a loan against my Shriram Life Assured Savings Plan?

You can take a policy loan within the surrender value of the Shriram Life Assured Savings Plan.

What is the interest rate for policy loans in Shriram Life Assured Savings Plan?

The interest rate for policy loans in Shriram Life Assured Savings Plan is fixed at 9.5% p.a. compounding half-yearly.

What is the paid-up death benefit in Shriram Life Assured Savings Plan?

The paid-up death benefit is calculated as Death Sum Assured (No of premiums paid/Total no. of premiums payable) under Shriram Life Assured Savings Plan.

What is the paid-up maturity benefit in Shriram Life Assured Savings Plan?

The paid-up maturity benefit is calculated as Guaranteed Maturity Sum Assured (No of premiums paid/Total no. of premiums payable) under the Shriram Life Assured Savings Plan.

Can I claim tax benefits as a policy holder of the Shriram Life Assured Savings Plan?

You can claim tax benefits as a policy holder of the Shriram Life Assured Savings Plan.

Disclaimer

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

^Risk cover starts from date of commencement of policy for all lives including minors. In case of a minor life, the policy will vest in the Life Assured on attainment of age 18 years.   

&Annualised premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums, rider premiums, loadings for modal premiums, taxes and other statutory levies, if any.

For more details on risk factors, terms, and conditions please read the sales brochure carefully before concluding a sale.   

IRDAI Regn No: 128     
CIN No : U66010TG2005PLC045616
ARN: SLIC/Elec/Sep 2024/253  

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