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Coverages Under Shriram Life Retirement Plans
Shriram Life Retirement Plans provide assured benefits. This will be in the form of regular payouts during the survival period, maturity benefits after the policy’s end date, or annuities. Every Shriram Life Retirement Plan provides a sum assured in such cases.
Life coverage is available under most Shriram Life Retirement Plans. In case the policy holder meets with untimely demise during the tenure, their nominee will be eligible to receive the death benefit.
Certain Shriram Life Retirement Plans provide cash bonuses as lump sum payouts after the policy’s tenure or annual earnings during the policy. This cash bonus will be a minimum of 3.5% of the sum assured amount per annum.
Single Life and Joint Life Annuity
Shriram Life Retirement Plans provide an annuity during your retirement period and also help your partner receive the same. Single Life provides an annuity for the policyholder and returns the purchase price after their demise. For joint life, the second survivor can receive the annuity regardless of who passes away first.
Extended Life Coverage
With an additional premium, the policyholder can extend the life coverage from the end of the policy tenure to 80 years of age.
If your policy is in force and the premium payments are made regularly, you will be eligible to receive loyalty additions from the insurance provider. These additional payouts can maximise the returns you receive and increase the fund value.
There are four rider benefits available with Shriram Life Retirement Plans for enhanced protection. They are as follows: