Premium Components of Shriram Life New Akshay Nidhi

If the life assured passes away during the Policy tenure, the nominee(s) or beneficiary(ies) will receive the sum assured on demise, along with any accrued reversionary and terminal bonuses. The demise benefit will be at least 105% of all premium payments

If the life assured survives until the end of the Policy tenure, they will receive any accrued reversionary and terminal bonuses.

The policy also provides periodical payments as a percentage of the basic sum assured to the policy holders if they survive until the end of every fifth year. The amount of the payment depends on the Policy tenure, for example, 50% of the basic sum assure

The sum assured on demise is calculated based on the higher value between 10 times the annualized premium payments, and the basic sum assured chosen by the policy holders during the proposal.

Policy holders are eligible for a premium payments rebate based on the sum assured band they select. For instance, if the sum assured is between ₹2.50 Lakh to ₹3.99 Lakh, a 2% premium payments rebate is provided.