Coverages under Shriram Life New Shri Vidya

Coverage under Shriram Life New Shri Vidya gives risk cover to the policy holder which covers the risk of a premature demise. If the life insured passes away during the policy tenure, the sum assured on demise is paid along with reversionary bonuses and any terminal bonus. An additional death benefit is also paid, which is the discounted value of the survival benefits payable under the policy and the family income benefit. Survival benefits, if the life insured survives the policy tenure, 25% of the sum assured is paid as survival benefits in the last four years of the policy. Also, the maturity benefit is provided on maturity of the plan, the accrued reversionary bonuses and any terminal bonus are paid as the maturity benefit.