FAQs for the Shriram Life Genius Assured Benefit Plan

The grace period in the Shriram Life Genius Assured Benefits Plan is 30 days if you have selected a yearly premium payment mode and it is 15 days if it is monthly. 

The Free Look period in the Shriram Life Genius Assured Benefit Plan is 30 days if you bought the policy through distance marketing or online marketing. And it will be 15 days in case of any other modes of purchase. 

The exclusions for the critical illness rider are pertaining to hazardous occupations such as hunting, racing, etc. And the accident benefit rider excludes suicide in addition to an accident occurring out of criminal intent. 

You should buy the Shriram Life Genius Assured Benefit Plan because it supports your family in your absence. The policy offers many options by which you can protect your children's education. The family gets a death benefit if the insured passes away, and if he/she survives to the end of the policy term, the premium payment does not go to waste. You receive maturity benefit. 

The minimum entry age for the accident rider in the Shriram Life Genius Assured Benefit Plan is 18 years and the maximum is 45 years.

. Under the flat payout option of the Shriram Life Genius Assured Benefit Plan, 100% of the sum assured is equally paid in 5 years. Under the increasing payout option, an amount equivalent to 103% of the paid up sum assured is paid in five increasing installments from the date of maturity.

The family is paid an amount equal to 1% of the sum assured every month in case of the policy holder's demise in the Shriram Life Genius Assured Benefit Plan. It is paid until the completion of the policy tenure and thus takes care of the personal needs of the family.

 There is no upper limit for the premium payment in the Shriram Life Genius Assured Benefit Plan irrespective of the mode of payment.