Market-Linked Returns, Insurance Coverage, and Retirement Planning with Shriram Life Pension Plus
Premium Components for Shriram Life Pension Plus
Shriram Life Pension Plus plan has three premium components:
If you survive till the end of the policy tenure, you will receive the assured vesting benefits. Using this, you can purchase any retirement plan such as an annuity policy and proceed to receive an annuity till your demise. Assured vesting benefits will be equal to 101% of the total premiums paid.
If you meet with an unfortunate demise during the policy period, your nominee will receive the assured death benefits or total fund value, whichever is higher. The assured death benefits are equal to 105% of the total premiums paid till the date of the demise. The nominee can use the proceeds to purchase an annuity from Shriram Life Insurance or they can withdraw the proceeds if required.
As per the base fund value of your policy, you will receive loyalty additions. These additions will be added to the policy periodically as long as you make the premium payments on time.
This is the premium payment you make at irregular intervals during your policy tenure and it is considered a single premium.
Under the Pension Plus plan, you don’t have to invest funds in one unit. The policy allows you unlimited switching from one unit to another during the tenure.
You can invest your future premium payments in funds that are different from the ones you chose while selecting the policy.
Partial Withdrawal Conditions
You can withdraw up to 25% of the fund value after the lock-in period for reasons such as your child's higher education or marriage as well as treatment for a critical illness.