Shriram Life Golden Premier Saver Plan (UIN:128N088V02)
Shriram Life Golden Premier Saver Plan
Shriram Life Golden Premier Saver Plan (UIN:128N088V02) is a non-linked, participating savings plan with the dual benefits of insurance protection and savings creation.
Key Features of the Shriram Life Golden Premier Saver Plan
Life Cover throughout the policy term
Lumpsum or Income plus Lumpsum on maturity, as chosen
Additional Protection through Riders
Additional earnings through bonuses which are guaranteed to be at least 4% p.a. in the first 5 policy years
Life cover extension till age 80; with Lumpsum payable on survival on payment of additional premium
Key Benefits of the Shriram Life Golden Premier Saver Plan
Death benefit
In Case of death of the life assured during the policy term, provided the policy is in force, “Death Sum Assured” along with the accrued bonus, (if any) and terminal bonus, (if any), will be paid in lump sum to the nominee (s) or beneficiary (ies).
“Death Sum Assured” is defined as highest of
• Absolute amount assured to be paid on death
• 10 times the annualized premium
• 105% of All Premiums Paid till the date of death
• Guaranteed Maturity Sum Assured
Where “Absolute amount assured to be paid on death” is the ‘Sum Assured’ which is chosen by the policy holder excluding underwriting extra premiums, rider premiums and loadings for modal premiums, if any.
‘All Premiums Paid’ is the total of all premiums paid till the date of death excluding any extra premiums, any rider premiums and taxes.
“Guaranteed Maturity Sum Assured” is the ‘Sum Assured’ which is chosen by the policy holder at the time of proposal.
For Income plus Lump sum Option, Income benefits that have already been paid shall not be deducted from the death proceeds.
Maturity Benefit
Lump sum Option:
In case of survival of the life assured till the end of the policy term provided the policy is in force, “Guaranteed Maturity Sum Assured” along with the accrued bonus (if any) and terminal bonus (if any) will be paid provided all due premiums have been paid.
Income plus Lump sum Option:
The income benefit equal to 10% of the sum assured shall be paid annually at the end of each of the last five policy years provided the policy is in force.
In case of survival of the life assured till the end of the policy term, the lump sum benefit equal to 50% of the “Guaranteed Maturity Sum Assured” along with the accrued bonus (if any) and terminal bonus (if any) shall be paid provided all due premiums have been paid.
Extended Cover Benefit:
• By choosing this option and paying additional premium, in addition to the benefits mentioned above, the policyholder will get life insurance cover for an extended term (i.e. the period from the date of maturity to the date on which the life assured attains the age of 80 years). In case of death of the life assured during the extended cover term or on survival up to end of extended cover term, one sum assured will be paid and the policy will be terminated.
• The extended cover benefit cannot be surrendered individually
Eligibility
Eligibility criteria | Limits |
|---|---|
Age criteria | Entry Minimum: 0 years (age last birthday) |
Maximum Maturity | Minimum:18 years (age last birthday) |
Policy Term | 10 years, 13 years or 15 years to 25 years |
Premium Paying Term | Entry age 0 to 50 years (age last birthday): 5 years |
Premium Payment Mode | Yearly, Half-Yearly, Quarterly, Monthly |
Annual Premium | Minimum: Premium Paying Term 5 years - ₹44,232 |
Sum Assured | Minimum: ₹2,00,000 |