Life Protection and Simplified Savings with Shriram Life Growth Plus
Key Features of Shriram Life Growth Plus
Here are the features of the Shriram Life Growth Plus:
Choice of Premium Paying Tenure
You can choose the premium paying tenure from single, limited and regular. Decide the
sum assured to arrive at the premium to be paid. You can pay the premium monthly or
yearly after deciding on the premium-paying tenure. This option is meant for policy
holders to have their choice of premium payment. Policy tenure can be 10 or 15-20
years as per your selection.
Riders for Additional Protection
There are three riders available for this plan namely Shriram Accidental Death &
Disability Rider, Shriram Accidental Death & Disability Income Rider and Shriram Critical
Illness Care Rider. Riders are meant to provide additional cover to the ongoing life
Minimum Sum Assured
• For Single Premium Policies: 1.25 times the single premium
• For Regular and Limited Premium Policies: 7 times the annualized premium Annualized
Premium means the premium amount payable in a year excluding the taxes, rider
premiums and underwriting extra premium on riders if any.
Maximum Sum Assured
• For Single premium policies: For Regular and Limited Premium policies: 10 times the
Annualised Premium. The maximum sum assured varies from 1.25 to 10 times
depending on age.
The premium thus recoverable is the minimum for the sum assured in the Shriram Life
Growth Plus, making it the suitable option for policy holders.
Free of Cost Fund Switch and Redirection of Premium
Switching of units from one fund to another is possible during the policy tenure for the
funds mentioned in Shriram Life Growth Plus. The policy holder can redirect future
premiums to save in any of the available funds different from the funds
chosen at the time of inception of the policy.
Coverage for Minors
It provides cover to those who are less than 18 years of age as on the last birthday at
the date of inception of the policy. The risk shall start from the date of the first policy
anniversary. In case of the demise of the minor, the life assured in the first policy year
fund value shall be paid to the policy holder. The policy gets terminated thereafter.