Keep your loved ones safe with Shriram Life Family Protection Plan
Premium Components for Shriram Life Family Protection Plan?
Shriram Life Family Protection Plan is a non-linked, non-participating insurance plan designed to protect families in case of untimely demise. The policy offers multiple premium components as explained below:
Corpus Payable Option
The death benefit can be paid as a lump sum or a combination of 50% lump sum and the remaining 50% in either five equal annual instalments or 60 equal monthly instalments. The policyholder can choose the preferred option.
Maturity Benefit Option
No maturity benefits are payable if the life assured survives the policy tenure. This plan focuses on providing financial security to the family in case of the policyholder's demise.
Affordable Premium Rates
The Shriram Life Family Protection Plan offers life insurance coverage at competitive premium rates, making it an attractive choice for individuals seeking protection for their families.
Flexible Payout Options
The policy provides three benefits payout options, allowing policyholders to choose the most suitable option for their needs.
For high sum assured policies, rebates are offered on tabular premium rates, making the policy even more attractive for those seeking enhanced coverage.
Tax benefits may be available under this plan as per the existing provisions of the Income Tax Act. Tax benefits are subject to change according to tax laws, so it is advisable to consult a tax advisor for details.