Achieve Your Dreams with Regular Payouts from Shriram Life New Akshay Nidhi
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Premium Components of Shriram Life New Akshay Nidhi
The Shriram Life New Akshay Nidhi is a pure-term insurance plan that provides financial protection to you and your loved ones. The premium payments paid by you consist of three components:
Demise Benefit
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
Maturity Benefit
If the life assured survives until the end of the Policy tenure, they will receive any accrued reversionary and terminal bonuses.
Survival Benefit
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
Sum Assured on Demise
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.
High Sum Assured Rebate
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.