FAQ's related to Shriram Life Golden Premier Saver Plan

The Golden Premier Saver plan is a traditional savings plan and not a unit-linked policy.

Under the Shriram Life Golden Premier Saver Plan, you get the bonus till the chosen policy tenure and if the premiums are paid regularly. 

There is no limit to the sum assured under the Shriram Life Golden Premier Saver Plan. You can choose any amount as long as the underwriting department has approved it.

The Golden Premier Saver Plan allows a grace period of 30 days for annual, half-yearly and quarterly modes. However, if you pay the premium monthly, the grace period is 15 days. 

You can revive a lapsed policy by paying the outstanding premium within 5 years from the date the premium was unpaid.

The bonus for a Shriram saver plan is calculated using the sum assured.

You can take out a loan under the Golden Premier Saver Plan. You can avail of a loan of 80% of the surrender value if you choose the lump sum payout option. In the case of the income plus lump sum payout option, 80% of the surrender value is allowed as a loan during the premium payment term. After the premium payment term is over, the loan quantum reduces to 60% of the surrender value. 

The Shriram Life Golden Premier Saver Plan offers four optional riders to choose from to extend your protection. 

Shriram Life Golden Premier Saver Plan offers the following four types of riders:

• Accident Benefit Rider - Under this rider, an additional sum assured is paid for accidental demise during the policy tenure. Alternatively, if the insured becomes permanently disabled in an accident, future premiums are waived.
• Shriram Life Critical Illness Plus Rider - This rider covers a list of 24 illnesses. If the insured suffers from any of the covered illnesses, the added sum assured is paid. Moreover, you can earn loyalty additions on the added sum assured during the policy tenure.
• Family Income Benefit Rider - If the insured suffers a disability during the policy tenure, 1% of the added sum assured is paid every month for a minimum of 10 years.
• Shriram Extra Insurance Cover Rider - This rider provides an additional benefit if the insured person passes away during the policy tenure. 

Shriram Life Golden Premier Saver Plan is a traditional savings plan and is not linked to the stock market or any stocks.