Assurance of Savings and Security for Your Family and Children with the Shriram Life Genius Assured Benefit Plan
Premium Components of Shriram Life Genius Assured Benefit Plan
Sum Paid on Maturity
Upon survival of the insured up to the end of the policy term, he/she will be paid: a. Sum Assured plus b. The Education Support Benefit shall be paid as per the option (Flat Payout/Increasing Payout) chosen by the policyholder at inception of the policy. This option cannot be changed during the policy term. There is no option to take the benefits under Education Support Benefit in lump sum.
Premium Payment for Life Cover
The death benefit is for the life cover and the premium is paid for that benefit The risk of life is part of the coverage and the premium paid will continue the policy so that in the case of the demise of the policyholder, the nominee is paid the death benefit.
Rebates on Sum Assured
Rebates are applicable to the high sum assured policies. Sum assured is directly related to the premium payment and annual premium rates will be applicable to them.
Riders to Enhance Coverage
You can select the riders to protect your life. There are two riders and the premium payment made for buying them provides extra protection as per the additional coverage of each of those riders.