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Save and Earn with Shriram Life Immediate Annuity Plus

Save and Earn with Shriram Life Immediate Annuity Plus

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Shriram Life Immediate Annuity Plus

What is Shriram Life Immediate Annuity Plus?

Retirement is neither an age nor a phase. Retirement is a decision to bid farewell to the task of working for a regular income over Years. Post- Retirement the work stops, but the income should not. During this time, you want to be empowered to do all that you dreams, pursue hobbies, spending time with friends and family, pilgrimage etc.

We at Shriram understand your needs the best, Hence Presenting you Shriram Life Immediate Annuity Plus (UIN: 128N063V08) a non- linked and non-participating single premium immediate annuity individual single Premium plan for individuals which offers you a comprehensive range of annuity options along with flexibilities, providing you an opportunity to always maintain your living standards.

  • 9 Annuity Options to Choose from
  • Guaranteed Annuity rates for Lifetime
  • Return of Your Purchase Price in case of terminal illness
  • Option to choose Single Life or Joint Life

Features and Benefits of Shriram Life Immediate Annuity Plus

care

Option 1

Annuity payable for life

savings plan

Option 2

Annuity payable for life and return of purchase price on his/her death or terminal illness

child-plan

Option 3

Annuity payable for life with annual simple increase of 3%

wealth-pro

Option 4

Annuity payable for life with annual compound increase of 3%

Option 5

Annuity payable for minimum guaranteed period of 5/10/15/20 years and for life thereafter

protection-plan

Option 6

Annuity payable for life with a provision of 50% of annuity to the survivor on death of the primary annuitant

star batch

Option 7

Annuity payable for life with a provision of 100% of annuity to the survivor on death of the primary annuitant

Option 8

Annuity payable for life with a provision of 50% of annuity to the survivor on death of the primary annuitant and return of purchase price on death or terminal illness of the last survivor

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Option 9

Annuity payable for life with a provision of 100% of annuity to the survivor on death of the primary annuitant and return of purchase price on death or terminal illness of the last survivor

immediate-annuity-plus-how-to-apply

How to Apply for the Shriram Life Immediate Annuity Plus

You can apply for the Shriram Life Immediate Annuity Plus in four steps:

apply life insurance
  • Step 01

    Register using your Mobile Number

  • Step 02

    Verify and Proceed using OTP

  • Step 03

    Receive a Call from our representative

How to Claim for Shriram Life Immediate Annuity Plus

You can submit death claims, disability claims, cancer care claims and critical Illness claims for your Shriram Life Immediate Annuity Plus online on our website by following simple steps provided below.

claim life insurance
  • Step 01

    Come to the claim center, select intimate claim Button

  • Step 02

    Choose in the dropdown Request Type - death

  • Step 03

    Fill the details of insurer, death event, details of doctor who declared death (Doctor -Non mandatory)

  • Step 04

    Fill the personal and bank details of claimants and upload the documents

Documents to be uploaded

  • Death certificate issued by Local Body/Municipal Body
  • Nominee bank passbook
  • Postmortem report
  • Claim form B
  • Claim form A
  • Policy Document
  • Hospital Summary/Hospital records
  • Nominee ID proof (ID proof /address Proof)
  • FIR/ Panchnama/ Inquest Report and final investigation report
  • Upload Signature of claimant
  • Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if Rider is opted)
  • NEFT mandate form
  • Claims form C and E wherever applicable
After submission, you will be receiving instant notifications and updates regarding the processing status of the claim. Please note that clear document records will ensure quick claim processes. For death claims, we would request you to please reach out to us as soon as possible and initiate the claim process. For processing death claims faster, we request you to please reach out to your nearest Shriram Life Insurance branch.
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Eligibility and Documents Required for Shriram Life Immediate Annuity Plus

Age at Entry

Min : 0 years (age last birthday), 
         18 years (age last birthday), for joint life options  
Max: 85 years (age last birthday).

Maximum Exit age

No Maximum Exit Age

Policy Term

Whole life

Premium (Purchase Price) Paying Term

Single

Annuity Mode

Yearly, Half-yearly, Quarterly or Monthly

Annuity

Min: Rs 12000. 

Under all the options the monthly annuity shall be Rs. 1000 per month. 

In case the proceeds of the Company’s Deferred Pension policy are not sufficient to purchase minimum annuity as stipulated by the Authority from time to time, the proceeds of the policy shall be paid as lump sum. 

Max: No limit, Subject to board approved underwriting policy.

Purchase Price

Min: Rs. 2,00,000 

In case the proceeds of the policy are not sufficient to purchase minimum annuity as stipulated by the Authority from time to time, the proceeds of the policy shall be paid as lump sum. 

Max : No limit, Subject to board approved underwriting policy.

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What does Shriram Life Immediate Annuity Plus cover?

Shriram Life Immediate Annuity Plus is a non-linked, non-participating plan that focuses on helping you generate a regular savings over the course of the plan. It comes with nine different plan options to choose from, including the Whole-Life option under which you receive an annuity over your entire life.

What does Shriram Life Immediate Annuity Plus not cover?

Shriram Life Immediate Annuity Plus is an immediateannuity plan and does not provide death benefits or maturity benefits. It provides regular savings over the course of the plan. It also does not cover suicide cases. 

Download Documents for Shriram Life Immediate Annuity Plus

All the policy-related documents are easily available online on the website for the comfort and ease of all our customers. You can simply visit our website www.shriramlife.com. go to the download section on the policy page and download the policy document, brochure and presentation.

Frequently Asked Questions

How easy is the claim process for Shriram Life Immediate Annuity Plus plan?

The claim process for the Shriram Life Immediate Annuity Plus plan is really simple and disbursements are quick. This makes it one of the best deferred annuity plans in India for policyholders.

Can I take a loan against the Shriram Life Immediate Annuity Plus plan?

You cannot take a loan against the Shriram Life Immediate Annuity Plus plan.

Are there any incentives available for a higher purchase price under the Shriram Life Immediate Annuity Plus plan?

In case you go for a higher purchase price under the Shriram Life Immediate Annuity Plus plan, then you become eligible to receive a higher annuity amount. The table below shows you the increase in the annuity amount based on the increase in the purchase price:

Purchase Price Band

Increase in Annuity Rate

Less than 5,00,000

Nil

5,00,000 to less than 10,00,000

0.20

10,00,000 to less than 25,00,000

0.70

25,00,000 to less than 50,00,000

1.70

50,00,000 and less than 1 crore

2.20

1 crore and above

2.70

 

What are the annuity options I have if I am an NPS subscriber?

If you are a National Pension Scheme (NPS) subscriber, you can either opt for a default annuity scheme, i.e., the Family Income option or any of the above options as per the guidelines, regulations or circulars issued by the Provident Fund Regulatory & Development Authority (PFRDA).

Testimonials

What our customers say about us

Quotation

I was recently involved in a payout request. They helped me with the smooth process to get the amount.

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Abha

Quotation

I have been associated with Shriram for a period of time. They have prompt and friendly service.

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Rasiya

Quotation

Shriram life insurance products are worth every penny. I am happy with their service.

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Nagamani

Quotation

I am associated with Shriram life insurance for more than a decade. They have a wide-range of policy that will suit everyone's needs.

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Manjunath

Quotation

I was recently involved in a payout request. They helped me with the smooth process to get the amount.

Profile

Abha

Quotation

I have been associated with Shriram for a period of time. They have prompt and friendly service.

Profile

Rasiya

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Disclaimer

For more details on risk factors, terms, and conditions please read the sales brochure carefully before concluding a sale.  

*Tax Benefits:  
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.  
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.

IRDAI Regn No: 128  
CIN No : U66010TG2005PLC045616 of the Company

The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRADULENT OFFERS

  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

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